Biodegradable Plastics Market Report: Trends, Forecast and Competitive Analysis

Biodegradable Plastics Market Trends and Forecast

The future of the global biodegradable plastics market looks promising with opportunities in the packaging, consumer good, textile, and agriculture & horticulture markets. The global biodegradable plastics market is expected to reach an estimated $24.1 billion by 2030 with a CAGR of 19.8% from 2024 to 2030. The major drivers for this market are growing adoption of renewable & bio-based products, increasing consumer's inclination towards eco-friendly packaging, and strict government regulations.

A more than 150-page report is developed to help in your business decisions.

Biodegradable Plastics Market by Segment

The study includes a forecast for the global biodegradable plastics market by type, end use industry, and region

Biodegradable Plastics Market by Type [Shipment Analysis by Value from 2018 to 2030]:

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

Biodegradable Plastics Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Packaging
• Consumer Goods
• Textiles
• Agriculture & Horticulture
• Others

Biodegradable Plastics Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Biodegradable Plastics Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies biodegradable plastics companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the biodegradable plastics companies profiled in this report include-

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

Biodegradable Plastics Market Insights

Lucintel forecasts that PHA is expected to witness highest growth over the forecast period due to its increasing adoption in medical and food and beverage industries.

Within this market, packaging will remain the largest segment as customers are opting for environmentally friendly packaging options.

Europe is expected to witness highest growth over the forecast period due to presence of stringent environmental regulations and growing environmental awareness among consumers in the region.

Features of the Global Biodegradable Plastics Market

Market Size Estimates: Biodegradable plastics market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Biodegradable plastics market size by type, end use Industry, and region in terms of value ($B).

Regional Analysis: Biodegradable plastics market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, end use industries, and regions for the biodegradable plastics market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the biodegradable plastics market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the biodegradable plastics market size?

Answer: The global biodegradable plastics market is expected to reach an estimated $24.1 billion by 2030.

Q.2 What is the growth forecast for biodegradable plastics market?

Answer: The global biodegradable plastics market is expected to grow with a CAGR of 19.8% from 2024 to 2030

Q.3 What are the major drivers influencing the growth of the Biodegradable Plastics Market?

Answer: The major drivers for this market are growing adoption of renewable & bio-based products, increasing consumer's inclination towards eco-friendly packaging, and strict government regulations.

Q4. What are the major segments for biodegradable plastics market?

Answer: The future of the global biodegradable plastics market looks promising with opportunities in the packaging, consumer good, textile, and agriculture & horticulture markets.

Q5. Who are the key biodegradable plastics market companies?

Answer: Some of the key biodegradable plastics companies are as follows:

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

Q6. Which biodegradable plastics market segment will be the largest in future?

Answer: Lucintel forecasts that PHA is expected to witness highest growth over the forecast period due to its increasing adoption in medical and food and beverage industries.

Q7. In biodegradable plastics market , which region is expected to be the largest in next 5 years?

Answer: Europe is expected to witness highest growth over the forecast period due to presence of stringent environmental regulations and growing environmental awareness among consumers in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the biodegradable plastics market by type (PLA, starch blends, PHA,biodegradable polyesters, and others), end use industry (packaging, consumer goods, textiles, agriculture & horticulture, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?