Bioplastics production for circular economy and sustainable development promotion

The purpose of the article is to investigate advantages and drawbacks of using bioplastic materials, to explore their environmental, economic and social effects in comparison with the conventional plastics ones. Research methods. In the research process was used the comparative analysis method for investigation of advantages and drawbacks of using bioplastic materials. Research results. The paper states that bioplastics has a special environmental advantages over oil-based plastics to minimize reliance on limited fossil fuels and to shorten emissions of greenhouse gases. In addition, it is stated that bioplastics promotes to energy security of domestic economy through lower energy resources consumption and lower reliance on petroleum. The short run economic advantages of bioplastics are not overweighing by oil-based plastics. However, long-run perspective of bioplastics production is vivid due to declining a level of waste pollution and increased compostability of biodegradable bioplastics. According to the results, bioplastics seems to have many advantages in comparison with conventional plastics, including decreased carbon footprint, lower consumption of energy, numerous end-of-life choices, reduction of waste, increased compostability of biodegradable bioplastics, decreasing a level of greenhouse gas emissions, work creation, disposal of agricultural film, better technical characteristics. These advantages encourage the bioplastic market to grow. However, unsustainable land use, the price of oil and its sales amounts, low level of consumers’ engagement, legislation problems are significant barriers for increasing the bioplastic usage, which need to be taken into account. Elements of scientific novelty. It is proposed theoretical concept of bioplastics production, which in contrast to existing one, takes into consideration the pros and cons of bioplastics production on all stages of the product promotion for stimulating Circular Economy and Sustainable Development fostering. Practical significance. The practical significance lies in the fact that all proposed approaches could be used for the development of real life business plans and developing strategies of local development. Refs.: 14.