Biodegradable Plastics Market Size, Share, Industry, Forecast and outlook (2024-2031)

Biodegradable Plastics Market is segmented By Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), By End-User (Packaging & Bags, Consumer Goods, Agriculture & Horticulture), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Biodegradable Plastics Market Overview

Biodegradable Plastics Market is expected to reach at a CAGR of 13.3% during the forecast period 2024-2031.

Biodegradable plastic is newly entered the market competitive place, and it is projected to discover new innovative growth opportunities over the next decade. Government initiatives to reduce single-use plastic and stringent regulatory overview compared to the use of conventional plastic products are driving the demand for the global biodegradable plastic market.

Biodegradable Plastics Market Summary

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Biodegradable Plastics Market Dynamics and Trends

Biodegradable contain plastics are projected to be a vital element driving the focused market during the forecast period. The increase in consciousness about biodegradable products and stringent rules linked to the usage of traditional plastics is supposed to boost the global market. The prominent aspects of the growth of the market are the significant initiatives taken by many governments to use eco-friendly plastics over conventional plastics. Factors significant driving the global market growth due to the demand for the usage of plastic packing in the food and beverages sectors. The rising high cost and expensive of biodegradable plastics are hampering the growth of the Biodegradable Plastics Market over the period.

The research report includes the major countries such as the USA, Canada, Mexico, Germany, UK, Spain, Italy, France, UAE, KSA, South Africa, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Taiwan, and other top countries in the worldwide.

The North American region includes the countries such as the USA, and Canada. The North American region is projected to touch a high CAGR rate in the global market during the forecast period. The USA has major participation in the North American biodegradable plastic market. The Europe region is recorded the highest share of the global Biodegradable Plastics Market, holding the share of 29% global revenue over the period.

Latin America, the Middle East, and Africa are projected to show the fastest growth due to the high presence of sugarcane feedstock which will be used for plastic production. The rise in demand for bioplastic products among European customers encourages the growth of bio-based plastics products.

Biodegradable Plastics Market Segmentation Analysis

According to the research study, the global market is segmented into By Type, By End User.

Based on Type, the market is segmented into PLA, Starch Blends, Biodegradable Polyesters, and PHA. Based on End-User is divided into Packaging & Bags, Consumer Goods, Agriculture & and Horticulture.

Biodegradable Plastics Market Geographical Share

• North America
• Asia Pacific
• Latin America
• Europe
• Middle East and Africa
• Rest of the world

Biodegradable Plastics Market Companies

BASF, NatureWorks, Mitsubishi Chemical, Total Corbion PLA, Plantic Technologies, Biome Bioplastics, Bio-On, Danimer Scientific, Toray Industries, Novamont S.p. A, and other major companies listed in the final report.

Who can benefit from this report?

• Raw Material Suppliers/ Buyers

• Product Suppliers/ Buyers

• Industry Investors/Investment Bankers

• Education & Research Institutes

• Research Professionals

• Emerging Companies

• Manufacturers