Bio-based Biodegradable Plastics Market, By Product Type (Polyesters, PLA, PHA, Starch blends, Regenerated Cellulose, Others), By Application, By Region - Size, Share, Outlook, and Opportunity Analysis, 2023

Description

The bio-based plastic industry witnessed remarkable growth after replacing conventional plastics due to its eco-friendly nature, improved functionalities, and suitability for new applications across different industries. This has led to the use of bio-based plastics in packaging, automotive, building & construction, and electronics industries.

Market Dynamics

Plastic Pollution has become a major environmental concern globally. According Plastic pollution facts and information, Around 4.1 Mn tons of garbage is disposed every day, out of which 15% (0.60 Mn tons) comprises plastics. Plastics are expected to account for 20% of the entire oil pollution in the following 25 years, compared to an estimated 7% in 2016. Plastic production has reached a record high of 392 Mn tons in 2022 and is expected to reach 1,142 Mn tons by 2050. Further aggravating the issue is the fact that only 8.3% of the plastics are recycled, while the remainder either end ups in oceans or landfills. Approximately 8 Mn tons of plastics are dumped into the ocean every year. These factors have increased consumer awareness and have shifted their inclination toward the usage of bioplastics. Furthermore, these concerns have also paved the way for several manufacturers to enter this market and attract the consumer base for bio-plastics.

Around 4.1 Mn tons of garbage is disposed every day, out of which 15% (0.60 Mn tons) comprises plastics. Plastics are expected to account for 20% of the entire oil pollution in the following 25 years, compared to an estimated 7% in 2016. Plastic production has reached a record high of 392 Mn tons in 2022 and is expected to reach 1,142 Mn tons by 2050. Further aggravating the issue is the fact that only 8.3% of the plastics are recycled, while the remainder either end ups in oceans or landfills. Approximately 8 Mn tons of plastics are dumped into the ocean every year. These factors have increased consumer awareness and have shifted their inclination toward the usage of bioplastics. Furthermore, these concerns have also paved the way for several manufacturers to enter this market and attract the consumer base for bio-plastics.

Bio-based plastic has poor thermal resistance and brittleness property which makes it less durable and restricts its use across various applications. This is expected to hamper the market growth of biobased plastic. Moreover, the production of biodegradable plastic has a lengthy procedure and even contains harmful chemicals. Therefore, such disadvantages associated with biobased plastic is projected to hinder market growth.

The growing trend of bio packaging among manufacturers is projected to foster market growth over the forecast period. For instance, in July 2019, Nestle announced that its YES! Fruit and nut bars will soon be packaged in recyclable paper wrappers that will decompose within six months, even in the ocean. Therefore, the growing demand for bio packaging is projected to propel the market growth over the forecast period.

Europe dominated the global bio-based biodegradable plastics market in 2022, in terms of volume, and the region is projected to maintain its dominance throughout the forecast period. Changing manufacturers' preference towards bio-based material for packaging and the presence of a large number of packaging manufacturers in the region are expected to fuel demand for bio-based plastic over the forecast period.

Key features of the study:

This report provides in-depth analysis of Global Bio-based Biodegradable Plastics Market and provides market size (KT and US$ Billion) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2023 - 2030), considering 2022 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key players
It profiles key players in the global Bio-based Biodegradable Plastics Market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered as a part of this study include BASF SE, Mitsubishi Chemical Corporation, Biome Bioplastics., Toray Industries, Total Corbion PLA, Plantic Technologies, Danimer Scientific, Bio-On, and Novamont S.P.A.
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future products launches, technology up-gradation, market expansion, and marketing tactics
The global Bio-based Biodegradable Plastics Market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Bio-based Biodegradable Plastics Market

Detailed Segmentation:

Global Bio-based Biodegradable Plastics Market, By Product Type:
- PLA (Polylactic Acid)
- PHA (Polyhydroxyalkanoates)
- Starch blends
- Polyesters
- Regenerated cellulose
- Others
Global Bio-based Biodegradable Plastics Market, By Application:
- Packaging
- Fibers
- Agriculture
- Medicine
- Others
Global Bio-based Biodegradable Plastics Market, By Region:
- North America
  - U.S.
  - Canada
- Europe
  - U.K.
  - Germany
  - Italy
  - France
  - Russia
  - Rest of Europe
- Asia Pacific
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
- Latin America
  - Brazil
  - Mexico
  - Argentina
  - Rest of Latin America
- Middle East
  - GCC
  - Rest of Middle East
- Africa
  - Central Africa
  - South Africa
Company Profiles
- BASF SE*
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments
  - Future Plans
- Mitsubishi Chemical Corporation
- Biome Bioplastics.
- Toray Industries
- Total Corbion PLA
- Plantic Technologies
- Danimer Scientific
- Bio-On
- Novamont S.P.A.

"*" marked represents similar segmentation in other categories in the respective section.

Product Code: CMI3205

1. Research Objective and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
Supply Side Drivers
Demand Side Drivers
Economic Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Mergers and Acquisitions
- New Product Approvals/Launch
- Promotion and Marketing Initiatives
Cost Tier Down Analysis

4. Global Bio-based Biodegradable Plastics Market - Impact of Coronavirus (COVID-19) Pandemic

COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact

5. Global Bio-based Biodegradable Plastics Market, By Product Type, 2017-2030 (KT and US$ Billion)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2017-2030
- Segment Trends
Polyesters
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)
PLA (Polylactic Acid)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)
PHA (Polyhydroxyalkanoates)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)
Starch blends
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)
Regenerated Cellulose
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)

6. Global Bio-based Biodegradable Plastics Market, By Application, 2017-2030 (KT and US$ Billion)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2017-2030
- Segment Trends
Packaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)
Fibers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)
Agriculture
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)
Medicine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2030, (KT and US$ Billion)

7. Global Bio-based Biodegradable Plastics Market, By Region, 2017-2030(KT and US$ Billion)

Introduction
- Market Share Analysis, By Region, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Regions, 2017-2030
North America
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017-2030
U.S.
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Canada
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Europe
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017-2030
U.K.
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Germany
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Italy
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
France
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Russia
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Rest of Europe
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Asia Pacific
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017-2030
China
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
India
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Japan
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
ASEAN
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Australia
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
South Korea
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Rest of Asia Pacific
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Latin America
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017-2030
Brazil
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Mexico
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Argentina
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Rest of Latin America
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Middle East
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017-2030
GCC
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Rest of Middle East
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Africa
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, By Country, 2017-2030
North Africa
- Country Trends
- Market Size and Forecast, By Product Type, 2017-2030(KT and US$ Billion)
- Market Size and Forecast, By Application, 2017-2030(KT and US$ Billion)
Central Africa
South Africa

8. Competitive Landscape

Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
- BASF SE
Company Overview
Product Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
- Mitsubishi Chemical Corporation
- Biome Bioplastics
- Toray Industries
- Total Corbion PLA
- Plantic Technologies
- Danimer Scientific
- Bio-On
- Novamont S.P.A.

9. Section

References
Research Methodology
About us and Sales Contact

Brows 50 market data tables* and 38 figures* on "Global Bio-based Biodegradable Plastics Market" - Global forecast to 2030

Bio-based Biodegradable Plastics Market, By Product Type (Polyesters, PLA, PHA, Starch blends, Regenerated Cellulose, Others), By Application, By Region - Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030