Biodegradable Plastics Market Introduction and Overview
According to SPER Market Research, the Global Biodegradable Plastics Market is estimated to reach USD 14.66 billion by 2034 with a CAGR of 9.45%.
The report includes an in-depth analysis of the Global Biodegradable Plastics Market, including market size and trends, product mix, Applications, and supplier analysis. The market for biodegradable plastics is expanding quickly as more sectors turn to environmentally friendly substitutes for traditional plastics. Due to their natural decomposition in the environment, these polymers lessen plastic pollution and support international sustainability objectives. The food, agricultural, and retail industries' growing need for eco-friendly packaging, stricter government requirements, and growing consumer awareness of environmental issues are some of the market drivers. But issues including high production costs, poor performance in comparison to conventional plastics, and a lack of infrastructure for waste management and composting still exist. Furthermore, the dependence on agricultural feedstock like as corn and sugarcane creates questions regarding the impact on the environment and competition for resources.
By Product Insights: Biodegradable Plastics is classified into five categories: Starch-based, Polylactic Acid, Polybutylene Adipate Terephthalate, Polybutylene Succinate, and Polyhydroxyalkanoate. The market with the highest revenue was led by the starch-based segment. Its adaptability and environmentally friendly qualities are responsible for this. An attractive alternative to traditional plastics are starch-based polymers, which are derived from renewable resources including corn, potatoes, and wheat. They are employed in a variety of fields, such as agriculture, packaging, and disposable goods like plates and silverware.
By Application Insights: The market for Biodegradable Plastics is segmented based on applications, including Packaging, Agriculture and Consumer Goods. With the biggest revenue share, the packaging category dominated the market. As companies and customers look for environmentally friendly substitutes for conventional plastic packaging, the biodegradable plastics packaging market is growing quickly. Starch, PLA, and other plant-based polymers are used to make biodegradable packaging, which reduces pollution and landfill trash by breaking down naturally.
By Regional Insights: North America's biodegradable plastics market will have a considerable revenue share in 2024. In North America, the market is supported by modern manufacturing infrastructure and rising demand for environmentally friendly products. Major participants in the region, notably the United States and Canada, are stressing innovation and ecologically friendly techniques, resulting in growth in applications ranging from packaging and agriculture to textiles.
Market Competitive Landscape:
To preserve and grow their market share, major corporations are implementing a number of organic and inorganic expansion tactics, including joint ventures, capacity expansion and new product launches, mergers, and acquisitions. Some of the key market players are Cargill Incorporated, PTT MCC Biochem Co., Ltd, Biome Technologies plc, Plantic Technologies Limited, BASF SE, Total Corbion PLA, NatureWorks LLC, Eastman Chemical Company, Trineso and Danimer Scientific.
Recent Developments:
- In March 2024, in order to produce a biodegradable plastic bottle cap, Beyond Plastic announced a collaboration with CJ Biomaterials. The biopolymer used to make this cap, Polyhydroxyalkanoate (PHA), is derived from natural materials and enhances the functionality of conventional plastics while also having positive environmental effects.
- In February 2024, Balrampur Chini Mills Ltd. intends to build a PLA factory and has made a sizable investment in bio plastics. This calculated action supports the business's dedication to sustainability and puts it in a position to benefit from the rising demand for environmentally friendly packaging options.
- In October 2023, Versalis, a well-known Italian manufacturer of chemicals, purchased Novamont's biodegradable plastic division. Versalis' product line in the biodegradable plastics industry is anticipated to grow as a result of this calculated approach.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Product, By Application. |
| Regions covere | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa. |
| Companies Covered | Cargill Incorporated, PTT MCC Biochem Co., Ltd, Biome Technologies plc, Plantic Technologies Limited, BASF SE, Total Corbion PLA, NatureWorks LLC, Eastman Chemical Company, Trineso, Danimer Scientific. |
Key Topics Covered in the Report:
- Global Biodegradable Plastics Market Size (FY’2021-FY’2034)
- Overview of Global Biodegradable Plastics Market
- Segmentation of Global Biodegradable Plastics Market By Product (Starch-based, Polylactic Acid, Polybutylene Adipate Terephthalate, Polybutylene Succinate, Polyhydroxyalkanoate)
- Segmentation of Global Biodegradable Plastics Market By Application (Packaging, Agriculture, Consumer Goods)
- Statistical Snap of Global Biodegradable Plastics Market
- Expansion Analysis of Global Biodegradable Plastics Market
- Problems and Obstacles in Global Biodegradable Plastics Market
- Competitive Landscape in the Global Biodegradable Plastics Market
- Details on Current Investment in Global Biodegradable Plastics Market
- Competitive Analysis of Global Biodegradable Plastics Market
- Prominent Players in the Global Biodegradable Plastics Market
- SWOT Analysis of Global Biodegradable Plastics Market
- Global Biodegradable Plastics Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Biodegradable Plastics Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Biodegradable Plastics Market
7. Global Biodegradable Plastics Market, By Product (USD Million) 2021-2034
7.1. Starch-based
7.2. Polylactic Acid
7.3. Polybutylene Adipate Terephthalate
7.4. Polybutylene Succinate
7.5. Polyhydroxyalkanoate
8. Global Biodegradable Plastics Market, By Application (USD Million) 2021-2034
8.1. Packaging
8.2. Agriculture
8.3. Consumer Goods
9. Global Biodegradable Plastics Market, (USD Million) 2021-2034
9.1. Global Biodegradable Plastics Market Size and Market Share
10. Global Biodegradable Plastics Market, By Region, (USD Million) 2021-2034
10.1. Asia-Pacific
10.1.1. Australia
10.1.2. China
10.1.3. India
10.1.4. Japan
10.1.5. South Korea
10.1.6. Rest of Asia-Pacific
10.2. Europe
10.2.1. France
10.2.2. Germany
10.2.3. Italy
10.2.4. Spain
10.2.5. United Kingdom
10.2.6. Rest of Europe
10.3. Middle East and Africa
10.3.1. Kingdom of Saudi Arabia
10.3.2. United Arab Emirates
10.3.3. Qatar
10.3.4. South Africa
10.3.5. Egypt
10.3.6. Morocco
10.3.7. Nigeria
10.3.8. Rest of Middle-East and Africa
10.4. North America
10.4.1. Canada
10.4.2. Mexico
10.4.3. United States
10.5. Latin America
10.5.1. Argentina
10.5.2. Brazil
10.5.3. Rest of Latin America
11. Company Profile
11.1. BASF SE
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Biome Technologies plc
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Cargill Incorporated
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Danimer Scientific
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Eastman Chemical Company
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. NatureWorks LLC
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Plantic Technologies Limited
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. PTT MCC Biochem Co., Ltd
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Total Corbion PLA
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Trineso
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
