Ceresana Expects the Market for Bioplastics to Grow 19% Per Year

By Chemical Processing staff

Jan 31, 2014

Demand for bioplastics will grow 18.9% per year through 2021 as technological advancements and new production capabilities drive down costs, market research institute Ceresana said in a market research report.

Ceresana forecasts revenues generated on the global market for bioplastics to rise to approximately $5.8 billion in 2021, triple the current value. Europe currently accounts for more than one-third of total global bioplastics consumption. Europe is leading in the research and development of bioplastics, according to Ceresana.

Asia-Pacific and South America are growing markets as well.

For more information, visit www.ceresana.com.