The Bio based PET Market is expected to register a CAGR of 15% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report presents analysis based on raw material (sugar, molasses, corn, and others). The report is segmented by application (bottles, films, blisters, and others). The report is segmented by application (food packaging, beverage packaging, cosmetics and personal care product packaging, automotive, and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Bio based PET Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Bio based PET Market Segmentation
Raw Material- Sugar
- Molasses
- Corn
- Bottles
- Films
- Blisters
- Food Packaging
- Beverage Packaging
- Cosmetics and Personal Care Product Packaging
- Automotive
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Bio based PET Market Growth Drivers- Environmental Awareness Drives Demand for Bio-PET Alternatives: The bio-PET market is largely influenced by environmental protection and sustainable development in the near future. More and more people are aware of the ecological threats caused by plastic waste and refuse to use non-renewable, non-biodegradable materials. This change compels the manufacturers to look for alternatives to PET, which in turn creates a need for bioplastics in the packaging and textile industries.
- Government Regulations Boost Bio-Based PET Adoption: On the other hand, various agencies and governments are seeking to impose even more rigid restrictions that will push for lower emissions and the use of environmentally friendly equipment. The marketing of bio-based materials is also within the strategies against climate change. These policies foster the usage of bio-based PET by companies and the growth has followed this in the production capacity and diversification in the uses of these products.
- Sustainability Trends Propel Bio-PET Growth in Fashion and Packaging Industries: Moreover, the case is more evident in industries such as the fashion industry or food packaging, where these sustainability concerns are on an upward trend. In this regard, the companies have started to incorporate bio-based PET into the supply chain, as the customers demand, and to positively advertise the brand. This shift not only helps the green movements but also boosts the market as companies understand the benefits of providing sustainable products – engaging in the activities that were referred to as supporting initiatives over the years. All things considered, environmental concerns and the urge towards sustainability are changing the PET narrative, resulting in a thriving bio-based alternatives market.
- Beverage Industry Drives Bio-PET Adoption for Environmental Impact: The increasing usage of bio-based PET by key beverage firms is influencing the trends going forward in the market. With these companies bettering the environmental impact of their products, there is a shift in consumer preference towards packaging, which is more bio-sustainable. This change helps create a good image for the company and helps comply with the legal framework that aims to mitigate plastic pollution.
- Sustainability Goals Push Beverage Companies Toward Bio-PET Solutions: Leading beverage companies also incorporate bio-PET into their product lines to pursue their sustainability objectives. This enables them to not depend on fossil fuel resources and opportunities to lessen their carbon footprint. Therefore, the application of bio-degradable PET is projected to grow, sparking creativity and expansion of production capabilities.
- Collaborations Fuel Innovation and Growth in Bio-PET Technology: Moreover, the partnerships among beverage companies and suppliers of bio-PET are enhancing technology evolution too. Collaboration with renewable material experts helps these companies improve bio-PET enhancement and recycling. Such cooperation is likely to encourage new techniques for efficient mass production, which will positively affect the market growth.
- Bio-Based PET Offers Major Growth Opportunities: The rise of 100% bio-based PET is expected to offer immense growth prospects for the bio-based PET market. This innovation meets the needs of a mutable consumer who seeks completely green materials to replace the traditional plastic made from petroleum-derived PET. As brands find it necessary to be sustainable 100% bio-based PET will aid in achieving high environmental targets.
- Innovation and Renewable Raw Materials Drive Bio-Based PET Adoption: For one, realizing 100% bio-based PET is the implementation of new technologies and looking for renewable raw materials, such as crops. Such improvements contribute to consumer satisfaction and do not compromise the products' performance. Thereafter, when growing numbers of firms endorse this entirely copious technique, the industry will develop favorably attracting capital investment and reinvention of more eco-friendly materials.
- Regulatory Support Accelerates Shift to Fully Sustainable PET: Additionally, the regulatory environment and awareness-raising measures concerning the circular economy will help hasten the transition to 100% bio-based PET. More Maryland organizations and governments are associated with the reduction of plastic waste with policies making organizations look for fully sustainable methods. Therefore, this aspect of the regulatory regime supports the expansion of the bio-based PET market.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Bio based PET Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Bio based PET Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The growing adoption of bio-based PET by major beverage companies is expected to be the key market trends.
Based on application, the bottles segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the bio based PET market due to the region's growing population and rising disposable income have led to a surge in demand for packaged goods, driving the need for sustainable packaging solutions.
Environmental concerns and sustainability efforts is driving the market growth.
TEIJIN LIMITED; Far Eastern New Century Corporation; Toray Plastics (America), Inc.; FKuR; Iwatani Corporation; LOTTE Chemical Corporation; Origin Materials; The Coca-Cola Company; NatureWorks LLC; and Mitsui Chemicals, Inc are some of the key players operating in the bio based PET market
The Bio based PET Market is estimated to witness a CAGR of 15% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Bio Based PET Market - By Raw Material
1.3.2 Bio Based PET Market - By Application
1.3.3 Bio Based PET Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BIO BASED PET MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. BIO BASED PET MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. BIO BASED PET MARKET - GLOBAL MARKET ANALYSIS
6.1. BIO BASED PET - GLOBAL MARKET OVERVIEW
6.2. BIO BASED PET - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BIO BASED PET MARKET - REVENUE AND FORECASTS TO 2028 - RAW MATERIAL
7.1. OVERVIEW
7.2. RAW MATERIAL MARKET FORECASTS AND ANALYSIS
7.3. SUGAR
7.3.1. Overview
7.3.2. Sugar Market Forecast and Analysis
7.4. MOLASSES
7.4.1. Overview
7.4.2. Molasses Market Forecast and Analysis
7.5. CORN
7.5.1. Overview
7.5.2. Corn Market Forecast and Analysis
8. BIO BASED PET MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. CONSUMER GOODS
8.3.1. Overview
8.3.2. Consumer Goods Market Forecast and Analysis
8.4. AUTOMOTIVE
8.4.1. Overview
8.4.2. Automotive Market Forecast and Analysis
8.5. ELECTRONICS
8.5.1. Overview
8.5.2. Electronics Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. BIO BASED PET MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Bio Based PET Market Overview
9.1.2 North America Bio Based PET Market Forecasts and Analysis
9.1.3 North America Bio Based PET Market Forecasts and Analysis - By Raw Material
9.1.4 North America Bio Based PET Market Forecasts and Analysis - By Application
9.1.5 North America Bio Based PET Market Forecasts and Analysis - By Countries
9.1.5.1 United States Bio Based PET Market
9.1.5.1.1 United States Bio Based PET Market by Raw Material
9.1.5.1.2 United States Bio Based PET Market by Application
9.1.5.2 Canada Bio Based PET Market
9.1.5.2.1 Canada Bio Based PET Market by Raw Material
9.1.5.2.2 Canada Bio Based PET Market by Application
9.1.5.3 Mexico Bio Based PET Market
9.1.5.3.1 Mexico Bio Based PET Market by Raw Material
9.1.5.3.2 Mexico Bio Based PET Market by Application
9.2. EUROPE
9.2.1 Europe Bio Based PET Market Overview
9.2.2 Europe Bio Based PET Market Forecasts and Analysis
9.2.3 Europe Bio Based PET Market Forecasts and Analysis - By Raw Material
9.2.4 Europe Bio Based PET Market Forecasts and Analysis - By Application
9.2.5 Europe Bio Based PET Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Bio Based PET Market
9.2.5.1.1 Germany Bio Based PET Market by Raw Material
9.2.5.1.2 Germany Bio Based PET Market by Application
9.2.5.2 France Bio Based PET Market
9.2.5.2.1 France Bio Based PET Market by Raw Material
9.2.5.2.2 France Bio Based PET Market by Application
9.2.5.3 Italy Bio Based PET Market
9.2.5.3.1 Italy Bio Based PET Market by Raw Material
9.2.5.3.2 Italy Bio Based PET Market by Application
9.2.5.4 United Kingdom Bio Based PET Market
9.2.5.4.1 United Kingdom Bio Based PET Market by Raw Material
9.2.5.4.2 United Kingdom Bio Based PET Market by Application
9.2.5.5 Russia Bio Based PET Market
9.2.5.5.1 Russia Bio Based PET Market by Raw Material
9.2.5.5.2 Russia Bio Based PET Market by Application
9.2.5.6 Rest of Europe Bio Based PET Market
9.2.5.6.1 Rest of Europe Bio Based PET Market by Raw Material
9.2.5.6.2 Rest of Europe Bio Based PET Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Bio Based PET Market Overview
9.3.2 Asia-Pacific Bio Based PET Market Forecasts and Analysis
9.3.3 Asia-Pacific Bio Based PET Market Forecasts and Analysis - By Raw Material
9.3.4 Asia-Pacific Bio Based PET Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Bio Based PET Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Bio Based PET Market
9.3.5.1.1 Australia Bio Based PET Market by Raw Material
9.3.5.1.2 Australia Bio Based PET Market by Application
9.3.5.2 China Bio Based PET Market
9.3.5.2.1 China Bio Based PET Market by Raw Material
9.3.5.2.2 China Bio Based PET Market by Application
9.3.5.3 India Bio Based PET Market
9.3.5.3.1 India Bio Based PET Market by Raw Material
9.3.5.3.2 India Bio Based PET Market by Application
9.3.5.4 Japan Bio Based PET Market
9.3.5.4.1 Japan Bio Based PET Market by Raw Material
9.3.5.4.2 Japan Bio Based PET Market by Application
9.3.5.5 South Korea Bio Based PET Market
9.3.5.5.1 South Korea Bio Based PET Market by Raw Material
9.3.5.5.2 South Korea Bio Based PET Market by Application
9.3.5.6 Rest of Asia-Pacific Bio Based PET Market
9.3.5.6.1 Rest of Asia-Pacific Bio Based PET Market by Raw Material
9.3.5.6.2 Rest of Asia-Pacific Bio Based PET Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Bio Based PET Market Overview
9.4.2 Middle East and Africa Bio Based PET Market Forecasts and Analysis
9.4.3 Middle East and Africa Bio Based PET Market Forecasts and Analysis - By Raw Material
9.4.4 Middle East and Africa Bio Based PET Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Bio Based PET Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Bio Based PET Market
9.4.5.1.1 South Africa Bio Based PET Market by Raw Material
9.4.5.1.2 South Africa Bio Based PET Market by Application
9.4.5.2 Saudi Arabia Bio Based PET Market
9.4.5.2.1 Saudi Arabia Bio Based PET Market by Raw Material
9.4.5.2.2 Saudi Arabia Bio Based PET Market by Application
9.4.5.3 U.A.E Bio Based PET Market
9.4.5.3.1 U.A.E Bio Based PET Market by Raw Material
9.4.5.3.2 U.A.E Bio Based PET Market by Application
9.4.5.4 Rest of Middle East and Africa Bio Based PET Market
9.4.5.4.1 Rest of Middle East and Africa Bio Based PET Market by Raw Material
9.4.5.4.2 Rest of Middle East and Africa Bio Based PET Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Bio Based PET Market Overview
9.5.2 South and Central America Bio Based PET Market Forecasts and Analysis
9.5.3 South and Central America Bio Based PET Market Forecasts and Analysis - By Raw Material
9.5.4 South and Central America Bio Based PET Market Forecasts and Analysis - By Application
9.5.5 South and Central America Bio Based PET Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Bio Based PET Market
9.5.5.1.1 Brazil Bio Based PET Market by Raw Material
9.5.5.1.2 Brazil Bio Based PET Market by Application
9.5.5.2 Argentina Bio Based PET Market
9.5.5.2.1 Argentina Bio Based PET Market by Raw Material
9.5.5.2.2 Argentina Bio Based PET Market by Application
9.5.5.3 Rest of South and Central America Bio Based PET Market
9.5.5.3.1 Rest of South and Central America Bio Based PET Market by Raw Material
9.5.5.3.2 Rest of South and Central America Bio Based PET Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BIO BASED PET MARKET, KEY COMPANY PROFILES
11.1. AMYRIS
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ANELLOTECH, INC
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BRASKEM
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. DRATHS CORPORATION
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GEVO, INC.
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. M AND G CHEMICALS
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NATUREWORKS LLC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. NOVAMONT S.P.A
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. TEIJIN LIMITED
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TORAY INDUSTRIES, INC.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Amyris
2. Anellotech, Inc
3. Braskem
4. Draths Corporation
5. Gevo, Inc.
6. M and G Chemicals
7. NatureWorks LLC
8. Novamont S.p.A
9. TEIJIN LIMITED
10. TORAY INDUSTRIES, INC.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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