PUBLISHER: Ken Research Private Limited | PRODUCT CODE: 1146537
PUBLISHER: Ken Research Private Limited | PRODUCT CODE: 1146537
Biodegradable plastics are the type of plastics that can be broken down into water, carbon dioxide, and biomass by the action of living organisms, usually micro-organisms. Biodegradable plastics are typically made from renewable sources, microbes, petrochemicals, or a combination of all three. Some biodegradable plastics are compostable, which means they decompose under controlled conditions such as those found in compost or anaerobic digestion locations.
According to Ken Research Analysis, the Global Biodegradable Plastics Market was valued at ~US$ 5 billion in 2017. It is estimated to be ~US$ 7 billion in 2022 and is forecasted to reach a market size of ~US$ 12 billion by 2028, growing at a CAGR of ~9% due to the shifting consumer preference towards eco-friendly plastic solutions.
Increasing consumer awareness regarding eco-friendly plastic solutions and rising efforts to reduce the use of conventional plastics are expected to drive the biodegradable plastics market growth.
Biodegradable plastics break down faster than conventional plastics and degrade 60% in less than 180 days, compared to traditional plastics which take about 1,000 years to decompose.
Growing piles of garbage and landfills have become a major environmental disaster, with many negative impacts on ecosystem flora and fauna. Growing consumer awareness of the effects encourage the use of biodegradable plastics. Hence, shifting consumer preference toward using environmentally friendly plastic products, driving the market for biodegradable plastics.
The major challenge faced by the market is the high price of biodegradable plastics as compared to traditional polymers. Biodegradable plastics are typically 20-80% more expensive to manufacture than conventional plastics, due to the high polymerization cost of such plastics. Higher costs of these plastics hinder the market growth.
The COVID-19 pandemic and resulting lockdowns have disrupted supply chains on both supply and demand sides, which negatively impacted many manufacturing and service industries such as consumer goods, packaging, textiles, agriculture, and horticulture. The closure of biodegradable plastic manufacturing plants and the irregular supply of raw materials required for production hindered the industry growth in 2019-2020.
Scope of the Report:
The Biodegradable Plastics Market is segmented by Product Type, End-User, and Geography. In addition, the report also covers the market size for each of the five regions' Biodegradable Plastics Market. The revenue used to size and forecast the market for each segment is USD billion.
By Product Type
Polylactic acid (PLA)
Polybutylene Adipate Co-terephthalate (PBAT)
Poly Butylene Succinate (PBS)
By End-User Segment
Rest of Europe
AustraliaRest of Asia Pacific
Belmont Packaging Ltd.
Eastman Chemical Company
Mitsubishi Chemical Corporation
TORAY INDUSTRIES, INC.
PTT Global Chemical Public Company Limited
Key Trends by Market Segment
By Product Type: The starch-based segment held the largest market share in the global biodegradable plastics market in 2021, owing to its wide area of applications such as packaging, automobiles, and agriculture.
Starch-based biodegradable plastics are widely used for tires in the automotive industry as it helps in reducing fuel consumption.
Rising demand for starch-based bioplastics in the packaging industry due to their low toxicity and versatile behavior. This type of bio-based plastic is the perfect substitute for petroleum-based polymers.
By End-User: The packaging segment held the largest market share in the global biodegradable plastics market in 2021, due to rising consumer demand for durable green packaging materials for food, beverages, and other products.
In the packaging industry, conventional plastics are being replaced by bio-based plastics for making boxes, wraps, cups, and plates, which is supporting the growth of the biodegradable plastic market.
New product launch by the companies positively impacts the biodegradable plastics for the packaging segment. For instance, EnviGreen, an Indian manufacturer of edible and 100% biodegradable plastic bags, innovated 'EnviGreen bags' to have the capability to break down completely in 15 seconds if placed in the boiling water.
By Region: Europeheld the largest market share among all other regions within the Global Biodegradable Plastics Market in 2021, due to high awareness among people toward plastic waste.
A complete ban imposed on single-use plastics by the European government is the major reason for the bio-based plastic materials to grow in the region.
The region is expected to lead the biodegradable plastics market over the forecast period owing to the fast implementation of plastic restriction policies, and the presence of advanced standards and certification systems to check the biodegradability of plastic materials.
Growing economies like China and India have implemented severe regulations on conventional plastics utilization and major manufacturers in the countries are introducing sustainable packaging solutions like bio-based products, which is estimated to drive market growth.
The Global Biodegradable Plastics Market is highly competitive with ~300 players, including globally diversified players, regional players, and many country-niche players. Most of the country-niche players are suppliers of raw materials for biodegradable plastics used in various end-user industries.
Regional players control about 45% of the market, while country-niche players hold the second largest share. Some of the major players in the market include BASF SE, Belmont Packaging Ltd., Danimer Scientific, Eastman Chemical Company, Mitsubishi Chemical Corporation, NatureWorks LLC, Novamont S.p.A., Plantic, TORAY INDUSTRIES, INC., TotalEnergies Corbion, PTT Global Chemical Public Company Limited, FKuR, among others.
Recent Developments Related to Major Players and Organizations
In July 2021, Solvay acquired the global coating business of Bayer AG, having facilities in France, Brazil, and the U.S. The acquisition strengthened the sustainable and bio-based solutions in the company's portfolio. The whole product portfolio and research & development projects from Bayer AG have been shifted to Solvay.
In April 2021, NatureWorks announced a new strategic partnership with IMA Coffee, which is a market leader in coffee handling processing and packaging. This partnership aims at increasing the market reach for high-performing compostable K-cup in North America.
In February 2020, BASF and Fabbri Group (Italy) formed a joint venture to develop a sustainable solution for cling film used in fresh-food packaging. The film will be used in wrapping meat, seafood, and fresh fruits & vegetables. It will be made by the Fabbri group with BASF's Ecovio bioplastic and will boost the demand for biodegradable plastics in packaging applications.
The global biodegradable plastics market witnessed slow growth for the year 2020, owing to the COVID-19 pandemic. A complete ban on imports and export disrupted the supply chain and hampered the market globally. However, the market condition is expected to get better in 2022, thereby restoring growth over the forecast period. The market is primarily driven by the increasing usage of Biodegradable Plastics in packaging, automotive, and other industries. Though the market is moderately competitive with over ~300 participants, few regional players control the dominant share and country-niche players also hold a significant share.
Note: This is an upcoming/planned report, so the figures quoted here for market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within a maximum of 2 working weeks.
Key Topics Covered in the Report
Snapshot of Global Biodegradable Plastics Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Biodegradable Plastics Market
Historic Growth of Overall Global Biodegradable Plastics Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of Global Biodegradable Plastics Industry
Overview, Product Offerings, Strengths, & Weaknesses of Key Competitors
Covid-19 Impact on the Overall Global Biodegradable Plastics Market
Future Market Forecast and Growth Rates of the Total Global Biodegradable Plastics Market and Segments
Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
Analysis of Global Biodegradable Plastics Market
Major Production/Supply and Consumption/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region
Notable Emerging Companies Mentioned in the Report
Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report
Biodegradable Plastics Manufacturers
Starch Based Biodegradable Plastics Suppliers
Polylactic acid (PLA) Biodegradable Plastics Suppliers
Polyhydroxyalkanoates (PHA) Biodegradable Plastics Suppliers
Polybutylene Adipate Co-Terephthalate (PBAT) Biodegradable Plastics Suppliers
Poly Butylene Succinate (PBS) Biodegradable Plastics Suppliers
Biodegradable Plastics Distributors
Emerging and Startup Biodegradable Plastics Companies in the Market
Government Departments of Polymers
Ministries and Departments of Agriculture
Ministries and Departments of Textile
Ministries and Departments of Packaging
Ministries and Departments of Healthcare
Importers and Distributors of Biodegradable Plastics
Environmental Regulatory Authorities
Recycled Plastic Films Manufacturers
Recycled Plastic Foam Manufacturers
Recycled Plastics Distributors
Emerging and Startup Recycled Plastics Companies in the Market
Different Types of Recycled Plastics Institutes
Government Departments of Polymers
Ministries and Departments of Electrical & Electronics
Ministries and Departments of Construction Materials
Ministries and Departments of Chemicals
Ministries and Departments of Petrochemicals
Importers and Distributors of Recycled Plastics
Period Captured in the Report
Historical Period: 2017-2021
Forecast Period: 2022-2028F
Frequently Asked Questions
What is the Study Period of this Market Report?
The Global Biodegradable Plastics Market is covered from 2017-2028 in this report, which includes a forecast for the period (2022-2028).
What is the Future Growth Rate of the Global Biodegradable Plastics Market?
The Global Biodegradable Plastics Market is expected to witness a CAGR of ~9% over the next 6 years.
What are the Key Factors Driving the Global Biodegradable Plastics Market?
Rising awareness among the public regarding the ill effects of plastic waste and governments prohibiting the use of single-use plastic are expected to be the primary drivers of this market.
Which is the Largest End-User Segment within the Global Biodegradable Plastics Market?
The packaging segment held the largest market share in the global biodegradable plastics market in 2021.
Who are the Key Players in the Global Biodegradable Plastics Market?
BASF SE, Belmont Packaging Ltd., Danimer Scientific, Eastman Chemical Company, Mitsubishi Chemical Corporation, NatureWorks LLC, Novamont S.p.A., Plantic, TORAY INDUSTRIES, INC., TotalEnergies Corbion, PTT Global Chemical Public Company Limited, FKuR, among others are the major companies operating in Global Biodegradable Plastics Market.
2.7.1 By Product Type
2.7.2 By End-User
2.7.3 By Region
3.2.1 Starch Based
3.2.2 Polylactic acid (PLA)
3.2.3 Polyhydroxyalkanoates (PHA)
3.2.4 Polybutylene adipate co-terephthalate (PBAT)
3.2.5 Poly Butylene Succinate (PBS)
4.2.3 Consumer Goods
7.4.1 Major Production and Consumption Hubs in North America
7.4.2 Notable Emerging Biodegradable Plastics Companies in North America
7.4.3 Market Revenue Share, Historic Growth, Outlook and Forecasts by Product Type, 2017-2028
7.4.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End-User, 2017-2028
7.4.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028
7.5.1 Major Production and Consumption Hubs in Europe
7.5.2 Notable Emerging Biodegradable Plastics Companies in Europe
7.5.3 Market Revenue Share, Historic Growth, Outlook and Forecasts by Product Type, 2017-2028
7.5.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End-User, 2017-2028
7.5.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028
Rest of Europe
7.6.1 Major Production and Consumption Hubs in the Asia Pacific
7.6.2 Notable Emerging Biodegradable Plastics Companies in the Asia Pacific
7.6.3 Market Revenue Share, Historic Growth, Outlook and Forecasts by Product Type, 2017-2028
7.6.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End-User, 2017-2028
7.6.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028
Rest of Asia Pacific
7.7.1 Major Production and Consumption Hubs in LAMEA
7.7.2 Notable Emerging Biodegradable Plastics Companies in LAMEA
7.7.3 Market Revenue Share, Historic Growth, Outlook and Forecasts by Product Type, 2017-2028
7.7.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by End-User, 2017-2028
7.7.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Sub-Regions, 2017-2028