Global Biodegradable Plastic Market to 2028: Growing Awareness of the Impact of Plastic Waste on the Environment Fuels the Sector - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Biodegradable Plastic Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The global biodegradable plastic market size was valued at USD 7.7 billion in 2021 and is poised to grow from USD 9.62 billion in 2022 to USD 71.14 billion by 2030, growing at a CAGR of 24.9% in the forecast period (2023-2030).

The biodegradable plastic market refers to the production and sale of plastic materials that can decompose naturally, without causing harm to the environment. Biodegradable plastics are made from renewable resources such as corn starch, sugarcane, or vegetable oil.

They are designed to break down through a process called biodegradation, which involves the breakdown of the plastic into natural elements by microorganisms.

Segments covered in this report

The global biodegradable plastic market is segmented by type, end-use, application, and region. Based on type, the market is categorized into PLA, starch blends, PHA, and biodegradable polyesters. Based on end-use, the market is categorized into packaging, consumer goods, textile, and agriculture & horticulture. Based on application, the market is segmented into Packaging, Consumer Goods, Agriculture. Based on region, the biodegradable plastic market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

The growing awareness of the impact of plastic waste on the environment is driving demand for biodegradable plastics. Consumers are increasingly concerned about the environmental impact of plastics and are seeking more sustainable alternatives.

Governments around the world are implementing regulations to reduce plastic waste and promote the use of biodegradable plastics. These regulations are driving demand for biodegradable plastics in industries such as packaging, agriculture, and healthcare.

Restrain

The infrastructure for the collection and disposal of biodegradable plastics is not as developed as that for traditional plastics. This can make it difficult for companies to adopt biodegradable plastics, particularly in regions with limited waste management systems.

Trend

The use of biodegradable plastics in packaging is a growing trend, driven by increasing consumer demand for more sustainable packaging solutions. Biodegradable plastics are increasingly being used in agriculture for applications such as mulching films, greenhouse covers, and plant pots.

This is driven by the need to reduce plastic waste in agriculture and promote more sustainable farming practices. Biodegradable plastics are being used in the production of medical devices such as sutures, stents, and implants. This is driven by the need to reduce the environmental impact of medical waste and promote more sustainable healthcare practices.

Companies Mentioned

• BASF SE
• NatureWorks LLC
• Novamont S.p.A.
• Corbion N.V.
• Mitsubishi Chemical Corporation
• Biome Bioplastics Ltd.
• Danimer Scientific, Inc.
• Bio-On S.p.A.
• Plantic Technologies Limited
• Fkur Kunststoff GmbH
• API S.p.A.
• Total Corbion PLA (formerly known as Purac Biochem B.V.)
• Synbra Technology BV
• Tianan Biologic Material Co., Ltd.
• Innovia Films Limited
• Arkema S.A.
• FKuR Kunststoff GmbH
• Kingfa Sci. & Tech. Co., Ltd.
• Cardia Bioplastics Limited
• Solanyl Biopolymers Inc.

For more information about this report visit https://www.researchandmarkets.com/r/15d5ih

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