PUBLISHER: Value Market Research | PRODUCT CODE: 1392348
PUBLISHER: Value Market Research | PRODUCT CODE: 1392348
The global demand for Biodegradable Plastic Market is presumed to reach the market size of nearly USD 19.06 BN by 2030 from USD 7.32 BN in 2022 with a CAGR of 11.22% under the study period of 2023 - 2030.
Biodegradable plastic is the best eco-friendly alternative to traditional plastic materials. Biodegradable plastic is a plant-based plastic which has no negative environmental effects. Petroleum and renewable raw materials such as corn, wheat, bamboo, and sugarcane are used to make biodegradable plastics. Biodegradable plastics can be easily disposed of through waste management processes and have various innovative applications in several industries like consumer goods, packaging, textiles, and agriculture & horticulture.
The government initiatives to eliminate single-use plastic and strict regulatory policies against the use of traditional plastic products influence biodegradable plastic market growth. Moreover, due to changing lifestyle patterns and an increase in online delivery orders, the use of biodegradable plastics in packaging applications is expected to drive this market. Furthermore, owning to the advanced technical properties and functionalities, the use of biodegradable plastic has increased dramatically across a wide range of applications and propelled the market growth. However, higher prices of biodegradable plastics hinder the market's growth in various application segments.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of biodegradable plastic. The growth and trends of Biodegradable Plastic Industry provide a holistic approach to this study.
This section of the biodegradable plastic market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Biodegradable Plastic market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Biodegradable Plastic market include Cargill Incorporated, PTT MCC Biochem Co. Ltd., Biome Technologies plc, Plantic Technologies Limited, BASF SE, Total Corbion PLA, Synbra Technology BV, Futerro, Novamont SpA, NatureWorks LLC, Eastman Chemical Company, Trineso, Danimer Scientific, FKuR Kunststoff GmbH. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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