Biodegradable Plastics Market Size, Share, Industry Analysis, Trends, Growth, 2032

Biodegradable Plastics Industry Prospective:

The global biodegradable plastics market size was worth around USD 5.43 Billion in 2023 and is predicted to grow to around USD 11.80 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 9.00% between 2024 and 2032.

Request Free Sample

The report analyzes the global biodegradable plastics market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the biodegradable plastics industry. 

The report covers forecasts and analyses for the biodegradable plastics market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on volume (Kilotons) and revenue (USD Billion). The study includes drivers and restraints for the biodegradable plastics market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the biodegradable plastics market on a global level.

This report offers a comprehensive analysis of the global biodegradable plastics market along with market trends, drivers, and restraints of the biodegradable plastics market. This report includes a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces Model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, and secondary, and primary research teams of industry experts.

Biodegradable plastics market: Overview

The biodegradable plastics market comprises a sector within the plastics industry that is dedicated to the development, manufacture, and use of plastics that can naturally degrade in the environment. This sector is also known as the environmental biodegradable plastics market. Biodegradable plastics, in contrast to typical plastics, which can remain in the environment for protracted periods, are designed to decompose more rapidly, thereby reducing the negative influence that they have on the environment. These plastics can be derived from renewable sources such as materials obtained from plants or modified versions of plastics derived from petrochemicals to improve their biodegradability for use in various applications.

The expansion of the market is being driven by several factors, including increased environmental awareness, governmental actions that promote eco-friendly alternatives, shifting consumer preferences towards sustainable products, and the pursuit of sustainability goals by corporations. Ongoing technical breakthroughs in the field of materials science help further the development of biodegradable plastic solutions that are more efficient and cost-effective. The dynamics of the market are significantly influenced by a concerted effort to address concerns regarding plastic pollution and to encourage a more ecologically sensitive approach to the utilization of plastic.

Request Free Sample

Biodegradable Plastics Market: Growth Drivers

The market for biodegradable plastics is being thrust forward by several important growth drivers. The growing awareness of environmental issues on a global scale, in particular the detrimental effects that traditional plastics have on ecosystems, is one of the important factors. In response to the increased awareness among customers and businesses alike regarding the impact they have on the environment, there is an increasing demand for environmentally friendly solutions. In addition, regulatory actions play a significant role, with governments all over the world enacting policies and regulations to reduce the amount of pollution caused by plastic and to encourage the utilization of materials that are friendly to the environment.

In addition, the market is being boosted further by the evolving tastes of consumers towards environmentally friendly products, as well as the adoption of sustainability goals by the corporate sector. The development of cutting-edge technologies and materials in the field of biodegradable plastics, in conjunction with ongoing research and innovation, contributes to the expansion of the market by delivering solutions that are more efficient and cost-effective while also being more environmentally friendly. In conjunction with one another, these elements produce an atmosphere that is conducive to the continued expansion of the market for biodegradable plastics, which is a significant participant in the larger effort to reduce the negative effects that plastics have on the environment.

Biodegradable Plastics Market: Report Scope

Biodegradable Plastics Market: Segmentation

The study provides a decisive view of the biodegradable plastics market by segmenting the market based on type, end-use, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. Based on type, the market is segmented into PLA, starch blends, PHA, biodegradable polyesters, and others.

The end-user segment includes packaging and bags, consumer goods, agriculture and horticulture, textiles, and others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Each region has been further segmented into major countries, such as the U.S., UK, France, Germany, China, India, Japan, and Brazil.

Request Free Sample

Biodegradable Plastics Market: Competitive Analysis

The report covers a detailed competitive outlook including the market share and company profiles of the key participants operating in the global biodegradable plastics market, such as 

• NatureWorks
• BASF SE
• Total Corbion PLA
• Mitsubishi Chemical Corporation
• Biome Bioplastics
• Plantic Technologies
• Bio-On
• Danimer Scientific
• Novamont S.P.A.
• Toray Industries
• and others.

The report segments the global biodegradable plastics market as follows:

Biodegradable Plastics Market: Type Segment Analysis

• PLA 
• Starch Blends
• PHA
• Biodegradable Polyesters
• Others 

Biodegradable Plastics Market: End-Use Segment Analysis

• Packaging & Bags
• Consumer Goods 
• Agriculture & Horticulture 
• Textile 
• Others

Biodegradable Plastics Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa