Biodegradable Plastic Market Growth, Top Manufacturer Analysis and Forecast to 2030

Posted on 2023-01-11 by researchinsights in Chemicals // 0 Comments

San Francisco, California , USA, Jan 11, 2023 — /EPR Network/ —

Biodegradable Plastic Industry Overview

The global biodegradable plastic market size was estimated at USD 4.1 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 9.7% during the forecast period.

Governments prohibiting the use of single-use plastic coupled with rising awareness among the public regarding the ill effects of plastic waste are among the key trends stimulating market growth. Additionally, the increasing use of biodegradable plastics in packaging and agriculture is anticipated to supplement the growth of the segment. Non-decomposable plastics are a global issue. Governments around the world are tackling this problem by banning single-use plastics and promoting the use of biodegradable plastics. Moreover, consumers are willing to pay more for biodegradable plastics owing to their eco-friendly nature. The aforementioned factors, cumulatively, are providing a fillip to the market.

Gather more insights about the market drivers, restrains and growth of the Global Biodegradable Plastic Market

Despite environmental advantages, biodegradable plastics have some shortcomings too. Segregation of conventional plastics and biodegradable plastic is a big drawback as there is no distinct difference between them. The inclusion of conventional plastic in biodegradable plastic landfills can cause complications in the decomposition process.

Moreover, not all biodegradable plastics readily decompose in the natural environment, as they require a specific environment in terms of moisture and temperature. Some biodegradable plastics release greenhouse gases during decomposition, which is counterproductive to the environmental cause. These factors are likely to act as stumbling stones in the upward climb of the market.

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.

Silicone In Electric Vehicles Market – The global silicone in electric vehicles market size was valued at USD 5.58 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030.
Zero Waste Packaging Market – The global zero waste packaging market size was valued at USD 241.2 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.6% from 2023 to 2030.

Biodegradable Plastic Market Segmentation

Grand View Research has segmented the global biodegradable plastic market based on product, application, and region:

Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 – 2030)
- Starch Based
- PLA
- PBS
- PBAT
- PHA
- Polycaprolactone
Application Outlook (Volume, Kilotons, Revenue, USD Million, 2019 – 2030)
- Packaging
- Agriculture
- Consumer Goods
- Others
Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2019 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Biodegradable Plastic market include

Cargill Incorporated
PTT MCC Biochem Co., Ltd.
Biome Technologies plc
Plantic Technologies Limited
BASF SE
Total Corbion PLA
Synbra Technology BV
Futerro
Novamont SpA
NatureWorks LLC
Eastman Chemical Company
Trineso
Danimer Scientific
FKuR Kunststoff GmbH

Order a free sample PDF of the Biodegradable Plastic Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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