Biodegradable Plastics Market Report Key Highlights

• Global biodegradable plastics market revenue is estimated to expand by USD 12,915 million by 2030, with a 13.1% CAGR from 2022 to 2030.
• Europe biodegradable plastics market share accounted for over 42.8% of total market shares in 2021
• North America biodegradable plastics market growth will observe highest CAGR from 2022 to 2030
• Based on type, starch-based segment accounted for over 41.4% of the overall market share in 2021
• Among end use, packaging segment engaged more than 59.2% of the total market share
• Evolving consumer preferences toward eco-friendly packaging, drives the biodegradable plastics market size

Biodegradable plastics are materials that, under certain conditions, are destroyed by living creatures, particularly microorganisms, into biomass, CO2 or methane, and water. Biodegradable plastics are often made from petrochemicals, microorganisms, as well as renewable basic resources. Biodegradable polymers are widely employed in a variety of applications, particularly packaging, due to their environmentally benign nature.

Global Biodegradable Plastics Market Trends

Market Drivers

• Increasing use of renewable & Bio-based products
• Evolving consumer preferences toward eco-friendly packaging
• Supportive government policies toward biomaterials
• High demand for food packaging application

Market Restraints

• High cost of biodegradable plastics
• Shortcomings of biodegradable plastics

Market Opportunities

• Growth of new applications by key players
• Increased CCSR operations and less reliance on petroleum resources

Biodegradable Plastics Market Report Coverage

Governments restricting the utilization of single-utilized plastic combined with rising mindfulness among open in regards to sick impacts of plastic waste are among the key patterns animating business sector development. Also, expanding utilization of biodegradable plastics in packaging and horticulture is foreseen to enhance the development of the segment.

Non-decomposable plastics are a worldwide issue. Governments around the globe are handling this issue by prohibiting single-use plastics and advancing the utilization of biodegradable plastics. In addition, purchasers will pay more for biodegradable plastics inferable from their eco-accommodating nature. The previously mentioned variables, cumulatively, are giving a fillip to the market.

Biodegradable Plastics Market Segmentation

The worldwide biodegradable plastics market segmentation is based on the type, end use, and geography.

Biodegradable Plastics Market By Type

• Starch Based
• PBS
• PLA
• PHA
• PBAT
• Others

According to a biodegradable plastics industry analysis, the starch-based segment was the highest-growing segment in the market in 2021. Starch-based polymers are utilized in a variety of applications, including packaging, cars, and agriculture. Furthermore, starch-based can be used to reduce the carbon footprint of traditional resigns due to the ideal option for petroleum-based plastics, which is expected to drive market expansion in the coming years.

Biodegradable Plastics Market By End use

• Packaging
• Consumer Goods
• Agriculture
• Others

According to the biodegradable plastics market forecast, the agriculture segment is predicted to increase significantly in the industry over the next few years. The use of biodegradable mulching film conserves soil water, suppresses weed growth, and maintains a favorable soil temperature to allow faster crop development. Biodegradable polymers are increasingly being used in consumer items in industrialized economies.

Biodegradable Plastics Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)