Algae-Based Bioplastics Market Outlook with Leading Players

Overview

The global algae-based bioplastics market is moving steadily toward commercial maturity, supported by rising demand for sustainable materials and strong institutional backing. Valued at USD 104.0 million in 2024, the sector is projected to reach USD 172.7 million by 2034, advancing at a 5.2% CAGR, while the broader Asia Pacific bioplastics space is expanding rapidly, reaching USD 47.6 million with 45.80% growth, driven by packaging needs.

Algae-based bioplastics, produced from fast-growing, low-resource algae biomass, offer biodegradable, compostable alternatives that do not compete with food crops. Their suitability for packaging, films, coatings, and molded goods positions them as a promising replacement for conventional plastics.

A major driver of momentum is continued public and private investment. Umaro and Sway secured a $1.5 million U.S. Department of Energy grant to convert seaweed waste into bioplastics, while the UK’s CAER obtained $1.2 million to advance algae-based carbon utilization research. At the regional level, a €9 million EU initiative is strengthening interregional cooperation within the seaweed sector, helping align innovation with supply-chain capabilities.

Forward-looking opportunities stem from next-generation biomanufacturing. Provectus Algae’s $11.4 million Pre-Series A round and $3.25 million seed funding aim to scale programmable algae platforms, opening pathways for broader industrial adoption and pushing algae-based bioplastics closer to mainstream commercialization.

Top Key Players in the Market

• Notpla Limited
• Algix LLC
• Lifeasible
• Evoware
• BZEOS
• BLOM
• Eranova
• Sway Innovation Co.
• ALGBIO

1. Notpla Limited

Notpla Limited is a UK-based sustainable materials company that develops regenerative packaging solutions made from seaweed and plants. Its mission is to replace single-use plastics with biodegradable, compostable, or edible alternatives across food service, consumer goods, and other industries. Notpla’s portfolio includes products like seaweed-coated food containers, rigid cutlery, edible energy gel pods, and seaweed paper — all designed to disappear back into nature without harmful traces. The company has garnered recognition for its innovation, including winning the Earthshot Prize and partnering with major brands to scale sustainable packaging solutions. Notpla’s core focus is on eliminating plastic waste while working with interdisciplinary experts in material science, engineering, and bio-design.

2. Algix LLC

Algix LLC is a US sustainable technology company specializing in transforming algae biomass into eco-friendly plastics and materials. The company’s technology uses aquatic biomass, including algae, as feedstock to produce bioplastics and composite materials. Algix’s Solaplast bioplastic resin line blends algae biomass with polymers to create sustainable alternatives to conventional fossil-based plastics. While specific revenue and leadership details aren’t publicly available on an official company site, Algix has been cited as one of the key players in algae-derived bioplastic development and collaborates with industry partners to scale its innovations.

3. Lifeasible

Lifeasible is a biotechnology company focused on agricultural science and related environmental solutions. The company offers services such as plant breeding, genetic analysis, tissue culture, and analytical services linked to environmental and energy solutions. Lifeasible leverages molecular breeding techniques, analytical platforms, and customized solutions to support developments in agriculture, botany, and ecology. While core operational details like establishment year, CEO, and revenue are not published on its official site, the company positions itself as a provider of comprehensive plant biotechnology services. (lifeasible.com)

4. Evoware

Evoware is a sustainable packaging company focused on reducing plastic pollution by offering seaweed-based biodegradable and compostable alternatives. Its product range includes bags, mailers, sachets, straws, cups, containers, and cutlery, all designed to replace conventional plastics. Founded with a mission to enable a greener future, Evoware reports millions of single-use plastics replaced through its solutions and has participated in global sustainability trade events. Its leadership includes co-founders such as David Christian, and the company emphasizes collaboration with seaweed farmers and partners to scale impact.

5. BZEOS

BZEOS is a blue-tech company focused on leveraging seaweed to create sustainable packaging alternatives to fossil fuel-based materials. Its vision centers on shifting the packaging industry toward seaweed-derived solutions at scale to address plastic pollution and reduce environmental impact. While detailed corporate data like leadership, revenue, and establishment year are not listed on its official site, BZEOS’s mission and sustainability focus are central to its identity. (bzeos.com)

6. Eranova

Eranova is a technology company that transforms green macroalgae — often considered a pollutant — into bio-based, recyclable, and compostable resins. Its patented solution upcycles macroalgae stranded on beaches into sustainable bioplastic materials, addressing both waste biomass and plastic pollution. Eranova’s technology emphasizes environmental value by reducing land use and turning a global issue into productive raw material. Corporate specifics like revenue, founders, and headquarters location are not published on its official site.

7. Sway Innovation Co.

Sway Innovation Co. is a materials company that creates home-compostable replacements for single-use plastic packaging from seaweed and plant feedstocks. Its portfolio includes products such as polybags and die-cut bags derived from seaweed polymers, supporting a circular economy approach. Sway’s packaging materials are designed to mimic plastic performance while breaking down naturally through composting. While specific business data like revenue, founding year, and leadership are not publicly detailed on its official site, the company highlights its mission to transform everyday materials through regenerative design.

Conclusion

Algae-based bioplastics represent a promising shift toward cleaner and more responsible material choices. Their production relies on rapidly growing natural biomass that does not strain agricultural resources or compete with food systems. These bioplastics offer strong potential to replace conventional plastics in packaging, consumer goods, and industrial applications while supporting lower carbon footprints and reduced environmental stress.

Growing scientific interest, technological development, and supportive sustainability initiatives continue to strengthen their relevance. As industries and governments seek dependable ecological solutions, algae-based bioplastics are emerging as an adaptable pathway toward a more circular and regenerative materials economy.

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