PUBLISHER: Lucintel | PRODUCT CODE: 1416645
PUBLISHER: Lucintel | PRODUCT CODE: 1416645
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.
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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]:
Biodegradable Plastics Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
Biodegradable Plastics Market by Region [Shipment Analysis by Value from 2018 to 2030]:
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-
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:
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.