In an increasingly eco-conscious environment, the global market for bioplastics is expected to boom over the next five years, thanks to steadily increasing demand for sustainable products from both consumers and brands alike. There has also been continuous efforts of the bioplastics industry to develop innovative materials with improved properties and new functionalities. However, high processing cost for bioplastics compared to petroleum-based plastics and lack of recycling and composting infrastructure remain as key challenges for the industry.
Nevertheless, the future of the bioplastics market in Asia is bright and promising. China is the world’s largest producer of bioplastics and the increase in production is attributed to the government policies promoting the ban of single-use plastics in China’s foremost provinces including Shanghai, Hainan & etc. These regulations and consumers preference towards environment-friendly products have attracted manufacturers to establish bioplastics plants in these provinces.