Global Biodegradable Plastics Market, By Product Type (Polylactic Acid (PLA), Starch Blends, Biodegradable Polyesters, Polyhydroxyalkanoates (PHA), Others), Application (Packaging and Bags, Consumer Goods, Agriculture and Horticulture, Textile, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Biodegradable plastics market size is valued at USD 12.29 billion by 2028 and is expected to grow at a compound annual growth rate of 15.00% for the forecast period of 2021 to 2028. Data Bridge Market Research report on biodegradable plastics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Biodegradable plastics are also known as the eco-friendly decomposable by the living organisms such as bacteria and microorganisms. These plastics are mainly formed with two methods either from renewable raw materials or petrochemicals inclusive of biodegradable additives resulting in a better biodegradation process.
The increasing environmental awareness and growing popularity of eco-friendly packaging material has highly influenced the growth of the biodegradable plastics market. In line with this, the increasing focus of governments on green procurement policies is also acting as a key determinant favoring the growth of the biodegradable plastics market over the forecast period of 2021 to 2028. Also the, growing use in food packaging and compostable bags applications and rapidly increasing glass industry across the world are also positively impacting the growth of the biodegradable plastics market. The major factor accountable for the growth of the market is the strict rules and regulations by various regulatory authorities and governments on the usage of conventional plastic non-degradable plastic. Beside this, the ongoing research and development activities to create more proficient, biodegradable packaging and high adoption of eco-friendly alternatives among consumer are also flourishing the growth of the biodegradable plastics market. Also, the various advantages of biodegradable plastic over non-degradable and non-decomposable plastic as non-degradable plastic creates major waste management problems and are causing water, land air pollution, which is positively influencing the growth of the biodegradable plastics market. However, the high cost of biodegradable plastics when compared to other conventional plastics may act as key restraint towards biodegradable plastics market growth rate in the forecast period of 2021 to 2028, whereas the performance issues related to biodegradable plastic have the potential to challenge the growth of the biodegradable plastics market.
Furthermore, the rapidly emerging end-use industries of biodegradable plastics along with the growth of a new range of low cost and highly resistant, biodegradable plastic products will further offer a variety of growth opportunities for the biodegradable plastics market in the above mentioned forecast period.
This biodegradable plastics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on biodegradable plastics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Biodegradable Plastics Market Scope and Market Size
Biodegradable plastics market is segmented on the basis of product type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product type, the biodegradable plastics market is segmented into polylactic acid (PLA), starch blends, biodegradable polyesters, polyhydroxyalkanoates (PHA) and others. Biodegradable polyesters have further been segmented into polybutylene succinate (PBS), polybutylene adipate terephthalate (PBAT) and polycaprolactone (PCL).
- The application segment for biodegradable plastics market is segmented into packaging and bags, consumer goods, agriculture and horticulture, textile and others.
Biodegradable Plastics Market Country Level Analysis
Biodegradable plastics market is analyzed and market size, volume information is provided by country, product type and application as referenced above.
The countries covered in the biodegradable plastics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe leads the biodegradable plastics market because of the growing awareness amongst people toward plastic waste associated with European Union ban on single-use plastics in this region. Asia-Pacific is expected to expand at a significant growth of the over the forecast of 2021 to 2028 due to increasing disposable income and improving the standard of living in developing countries such as India and China within this particular region.
The country section of the biodegradable plastics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Biodegradable Plastics Market Share Analysis
Biodegradable plastics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to biodegradable plastics market.
The major players covered in the biodegradable plastics market report are Mitsubishi Chemical Corporation, Biome Bioplastics, Plantic, BIO-ON, Danimer Scientific, Novamont S.p.A., TORAY INDUSTRIES, INC., NatureWorks LLC, BASF SE, Total Corbion PLA, Perstorp, K.D. FEDDERSEN, UrthPact, LLC, Indochine Bio Plastiques (ICBP) Sdn. Bhd., TianAn Biologic Materials Co. Ltd., FKuR Kunststoff GmbH, Biotec Pvt. Ltd., Minima, BioGreen, Evonik Industries AG, CLONDALKIN GROUP and Cargill Incorporated among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Biodegradable Plastics Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.