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    Biodegradable Plastics Market Report

    Biodegradable Plastics Market Report
    Report code - SR2818 Delivery - 2 Weeks
    Biodegradable Plastics Market Size, Share, Trend, Forecast, Competitive Analysis, and Grow See more...

    Market Highlights

    Biodegradable Plastics decompose into natural substances like water, carbon dioxide, and biomass when exposed to natural environmental conditions like sunlight, air, and water. These plastics are gaining popularity as a more environmentally friendly substitute for conventional plastics, which are not biodegradable and can have a negative impact on the environment.

    During a conflict, the transportation of goods can be seriously hampered. The biodegradable plastics sector may experience severe delays due to traffic jams, curfews, and other logistical problems. Depending on where the industry is located, the movement of raw materials, manufacturing tools, and final goods may be slowed down or interrupted. Many different basic ingredients are used to create biodegradable plastics. A battle can make it difficult to get raw resources because supply systems are interrupted. This may cause a material scarcity, which would have an impact on how these polymers are made. The crisis may significantly impact the biodegradable plastics business if it depends on raw resources from Ukraine or Russia.

    However, the industry is gradually rebounding in the year 2022 with the ramp-up in consumer confidence. Furthermore, an incessant shift from traditional plastics to their substitutes due to environmental concerns, government regulations, and partnerships between companies and organizations is likely to give impetus to the demand for biodegradable plastics. Overall, the biodegradable plastics market is likely to rebound at a promising CAGR of 20.5% in the long run.

    Market Segment Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Type Analysis

    PLA, Starch Blends, PHA, Biodegradable Polyesters

    PLA is anticipated to remain the biggest demand generator for the biodegradable plastics market in the years to come.

    End-Use Industry-Type Analysis

    Packaging, Consumer Goods, Textile, Agriculture & Horticulture

    The packaging industry is the biggest demand generator for the biodegradable plastics market.

    Regional Analysis

    North America, Europe, Asia-Pacific, The Middle East & Africa, and South America

    Europe is expected to remain the largest as well as the fastest-growing market over the next five years.

     

    Based on the type, the biodegradable plastics market is segmented into PLA, Starch Blends, PHA, and Biodegradable Polyesters. PLA is expected to remain the largest and the fastest-growing type in the market during the forecast period. PLA has found widespread use in various applications, including packaging materials, food service ware, agricultural films, and 3D printing filaments. Its popularity is due to its good mechanical properties, transparency, and biodegradability under proper composting conditions.

    Based on the end-use industry type, the market is segmented into Packaging, Consumer Goods, Textile, Agriculture & Horticulture. Packaging is expected to remain the dominant as well as the fastest-growing end-use industry in the market during the forecast period. Consumers are looking for ecologically friendly packaging choices. Their preferences for environmentally friendly and sustainable products are in line with biodegradable plastics. Packaging constructed of biodegradable materials may improve a brand's reputation, draw in environmentally conscientious customers, and influence consumer opinion favorably.

    In terms of regions, Europe is expected to remain the largest as well as the fastest-growing market for biodegradable plastics during the forecast period. The implementation of laws and policies to manage plastic waste and encourage sustainable practices has been led by Europe. By banning their use and encouraging alternatives, such as biodegradable plastics, the Single-Use Plastics Directive of the European Union, for instance, is aimed at reducing the effect of some single-use plastic goods.

    Key Players

    The following are the key players in the biodegradable plastics market:

    • BASF
    • NatureWorks
    • Total Corbion
    • Novamont
    • Biome Bioplastics
    • Mitsubishi Chemical Holding Corporation
    • Toray Industries
    • Plantic Technologies
    • Danimer Scientific
    • Fkur Kunstsoff

    Research Methodology

    This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s biodegradable plastics market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • COVID-19 impact and its recovery curve
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for existing and new players
    • Key success factors

    The biodegradable plastics market is segmented into the following categories. 

    Biodegradable Plastics Market, by Type

    • PLA (Regional Analysis: North America, Europe, Asia-Pacific, Middle East & Africa, and South America)
    • Starch Blends (Regional Analysis: North America, Europe, Asia-Pacific, Middle East & Africa, and South America)
    • PHA (Regional Analysis: North America, Europe, Asia-Pacific, Middle East & Africa, and South America)
    • Biodegradable Polyesters (Regional Analysis: North America, Europe, Asia-Pacific, Middle East & Africa, and South America)

    Biodegradable Plastics Market, by End Use Industry Type

    • Packaging (Regional Analysis: North America, Europe, Asia-Pacific, Middle East & Africa, and South America)
    • Consumer Goods (Regional Analysis: North America, Europe, Asia-Pacific, Middle East & Africa, and South America)
    • Textile (Regional Analysis: North America, Europe, Asia-Pacific, Middle East & Africa, and South America)
    • Agriculture & Horticulture (Regional Analysis: North America, Europe, Asia-Pacific, Middle East & Africa, and South America)

    Biodegradable Plastics Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
    • Middle East & Africa (Country Analysis: Saudi Arabia, South Africa, and The Rest of Middle East & Africa)
    • South America (Country Analysis: Brazil, Argentina, and The Rest of South America)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions

    The biodegradable plastics market is estimated to grow at a CAGR of 20.5% by 2028, driven by environmental concerns, government regulations & policies, consumer preferences, waste management initiatives, and the growing packaging industry.

    BASF, NatureWorks, Total Corbion, Novamont, Biome Bioplastics, Mitsubishi Chemical Holding Corporation, Toray Industries, Plantic Technologies, Danimer Scientific, and Fkur Kunstsoff are the leading players in the biodegradable plastics market.

    Europe is estimated to remain dominant in the biodegradable plastics market in the foreseeable future. The implementation of laws and policies to manage plastic waste in the Region.

    Europe is estimated to remain the fastest-growing market for biodegradable plastics in the foreseeable future due to growing environmental awareness, the concept of a circular economy, and the implementation of stringent regulations and policies aimed at reducing plastic waste and promoting sustainable practices.

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