Precedence Research, a worldwide market research and consulting organization, has found that the bioplastic packaging market size is expected to approach $58 billion by 2032, with a corporate annual growth rate (CAGR) of 14.02% over the next decade.

Valued at $15.6 billion in 2022, bioplastic packaging has seen an increase in demand and popularity thanks to its sustainability and environmental benefits in light of tighter government restrictions of single-use plastics.