The global biocomposites market is set to witness unprecedented growth between 2022 and 2030 and account for a notable valuation by 2030, owing to the increasing penetration of biomaterials in the packaging sector.

The rising concerns about environmental degradation and the growing emphasis on the efficient utilization of resources have boosted the demand for biodegradable packaging. The manufacturers globally are encouraged to develop packaging solutions with minimal impact and carbon footprint. To quote an instance, in September 2022, Blond, an industrial design studio, created a sustainable 100% recyclable packaging solution for Dizzie, an online zero waste store focused on eliminating unnecessary packaging from the grocery cycle. The packaging is designed using bio-PP and biocomposite made of wood fibers.

The biocomposites market is segregated on the basis of source, product, process, application, and region.

In terms of source, the animal-based segment was worth USD 5 billion in 2021 and is expected to hold more than 25% market share by 2030. Animal-sourced biocomposites are derived from bird feathers, animal hair, and regenerated cellulose made from waste products. The increasing emphasis on employing efficient waste management techniques and promoting the use of naturally sourced ingredients will bolster the adoption of animal-based biocomposites in the forthcoming years.

Based on the product paradigm, the pure biocomposites segment is likely to depict over 13% CAGR from 2022 to 2030. The increasing popularity of 100% recyclable bio-based materials due to their minimal environmental impact will significantly push the segmental expansion. The expanding global waste issue, rising environmental awareness, and the surging utilization of eco-friendly bio-fillers as a potential alternative to inorganic fillers will drive lucrative growth in the biocomposites market by 2030.

With regard to the process, the compression molding segment is projected to be worth USD 6.5 billion by 2030. The positive outlook of the automotive sector across major world economies, driven by the increasing vehicle production and the surging demand for commercial and passenger fleets globally, will push the segmental expansion throughout the forecast period. In addition, the growing utilization of biocomposites in manufacturing several EV components will bolster the market outlook.

Regarding the application, the biocomposites industry size from sports and leisure segment is anticipated to record a valuation worth more than USD 3 billion by 2030. The surging emphasis to introduce sustainable bio-material in sports applications due to the concerns about the ongoing climate change, skyrocketing fuel prices, and increasing environmental degradation will foster the inclusion of biocomposites across the sports and leisure industries. Also, the biocomposites are known to provide superior damage resistance, ease of transport, reduced weight, low maintenance, and durability to sports equipment which will fuel the segment growth.

Regionally, the Middle East & Africa biocomposites industry is touted to depict over 9.5% CAGR over the forecast period and surpass USD 1 billion by 2030. The increasing focus of government and regional authorities on the development of non-oil sectors, coupled with the inflowing investments in the construction sector will open new growth avenues for the industry. Besides, the ongoing transition toward green economy, and incorporation of eco-friendly and sustainable products will boost the MEA market expansion over the projection period.