The cost of research and development still makes up for a share of investment in bioplastics and has an impact on material and product prices. Additionally, the currently low oil prices are making it difficult for bioplastics to achieve competitive pricing levels compared to conventional plastics at present. However, prices have continuously been decreasing over the past decade. As more companies and brands are switching to bio-based plastics, and as production capacities are rising, supply chains and processes are becoming more efficient, and prices have come down significantly. With rising demand and more efficient production processes, increasing volumes of bioplastics on the market and oil prices expected to rise again, the costs for bioplastics will soon be comparable with those for conventional plastic prices.
Moreover, specific material properties of bioplastic materials can allow for a reduction of the overall volumes of materials needed for a product or application as well as for cost reduction in the use or end-of-life phase. Already today, there are several examples of cost competitive bioplastic materials and products.