Global Biodegradable Plastics Market Size was valued nearly USD 2.56 billion by 2017 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 15.1% during the forecast period, i.e. 2017-2025. In this report, 2017 is considered as the base year and the forecast period is between 2018 and 2025.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

Biodegradable plastic can be defined as a plastic that decomposes naturally in the environment. There are basically two forms of biodegradable plastic, injection molded and solid. The solid forms are generally used for application such as food containers, leaf collection bags, water bottles etc. Biodegradable plastics are manufactured from natural plant materials. Materials such as corn oil, orange peels, starch are used as raw material for these types of plastics. Conventional plastic is manufactured by using chemical fillers, which can be very harmful to the environment when released when the plastic is melted down. Biodegradable plastic are made from natural sources and does not contain chemical fillers.

Market Dynamics

Biodegradable Plastics Market was valued USD 2,980 million in the year 2017, an anticipated to grow at rate of 13.8% during the analysis period. The biodegradable plastics market is growing globally, due to the consumer preference towards eco-friendly plastic products and rising use of food packaging & compostable bags applications in developing markets such as Asia-Pacific. The market is also growing due to stringent regulations and prohibitions against plastic bags and other plastic items which significantly drive the market. However, higher cost of biodegradable plastics than conventional plastics is one of the major factors anticipated to hamper the market growth during the forecast period. On the contrary, rise in end-use industries of biodegradable plastics offering lucrative growth opportunities. 

Segment Analysis                                                                                                 

On the basis of type, the market is bifurcated into PLA, starch blends, biodegradable polyesters, and PHA. Biodegradable plastics are used for manufacturing items such as bottles, loose-fill, cups, pots, bowls, flexible films, and other products. The starch based segment is expected to dominate the market in terms of value as well as volume throughout the analysis period. Starch based plastics are used in industries such as packaging, automobiles, agriculture, and others. The poly-lactic acid (PLA) is also one of the rapidly growing type of biodegradable plastics owing to its cheap cost as compared to any other type is a significant driving factor for the segment.

On the basis of end-use industry, the market is classified into packaging & bags, consumer goods, and agriculture & horticulture. Packaging & bags is expected to be the fastest-growing segment of biodegradable plastics market. The applications of biodegradable plastics are increasing in the packaging industry, for instance its new application are diaper banking, and adult incontinence products. With significant rise in innovative products, the utilization of biodegradable plastics in packaging is anticipated to increase in forecast period.

Regional Analysis

On the basis of region the market is analyzed across North America, Europe, Asia-Pacific (APAC), and LAMEA. Asia-Pacific is anticipated to be the fastest-growing region for biodegradable plastics market during the projected period. India and China are among the fastest-developing economies in the world. India is expected to be the fastest-growing market for biodegradable plastics during the analysis period. The growth of the market in Asia-Pacific region is attributed to the ease in availability of raw materials utilized to manufacture biodegradable plastics. The growth of biodegradable plastics in Asia-Pacific (APAC) region depends on the awareness about the use of biodegradable plastics as an alternative to conventional plastics and price reduction. The biodegradable plastics market is growing at a considerable rate. However, higher cost of biodegradable plastics than that of conventional plastics is restraining the growth.

Global Biodegradable Plastics Market Size, Share Analysis By Region 2017

Key Players

Key players of global biodegradable plastics market are Natureworks, BASF SE, Total Corbion PLA, Mitsubishi Chemical Corporation, Biome Bioplastics, Plantic Technologies, Bio-On, Danimer Scientific, Novamont S.P.A., and Toray Industries. The other players in the value chain include Zhejiang Hisun Biomaterials Co., Ltd., Succinity GmbH, Perstorp, Bio-Fed, Tianan Biologic Materials Co., Synbra Technology Bv, Tianjin Greenbio Materials Co., Ltd., Fkur Kunststoff GmbH, Sphere, and Indochine Bio Plastiques (ICDP) Sdn. Bhd.

Global Biodegradable plastics Market Study Report Offer You!

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