According to IMARC Group’s latest report, “Biodegradable Plastic Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the biodegradable plastic market size. The report also includes competitor and regional analysis, and contemporary advancements in the market.

Year considered to estimate the market size:

• Base year of the analysis: 2021
• Historical period: 2016-2021
• Forecast period: 2022-2027

The global biodegradable plastic market size reached US$ 4.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2027, exhibiting a growth rate (CAGR) of 9.43% during 2022-2027.

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Industry Overview:

Biodegradable plastics are made utilizing petroleum-based sources and renewable raw materials, including corn, wheat, bamboo, sugarcane, etc. They are usually of various types, such as starch-based, polylactide (PLA), polybutylene succinate (PBS), etc. Biodegradable plastics are degraded by microorganisms, such as fungi and bacteria, into water, biomass, carbon dioxide (CO2), etc. As a result, they are used in numerous applications, from flexible packing materials for several food items to extruded, injection-molded in conventional machines.

Presently, the excessive usage of disposable single-use plastics and their negative impact on the environment and human health are catalyzing the demand for biodegradable plastics across the globe.

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Market Trends:

The rising product utilization in the agriculture and horticulture sectors for manufacturing mulching films and plant pots is among the key factors stimulating the biodegradable plastic market. Additionally, the increasing usage of agricultural products in the expanding food and beverage (F&B) industry is acting as another significant growth-inducing factor. Besides this, owing to inflating environmental concerns, the governing bodies of several countries are imposing bans on non-biodegradable plastics, which is also propelling the global market.

Apart from this, the escalating awareness about the detrimental impact of plastics is further fueling the market growth. Moreover, the growing need for online food delivery applications and the rising sales of ready-to-eat (RTE) food items are also driving the global market.

Furthermore, the elevating focus among various leading companies on shifting their production facilities of biodegradable polymers to emerging countries, on account of affordable human resources and the convenience of feedstock acquisition, is expected to positively influence the biodegradable plastic market over the forecasted period.

Key Players Included in Global Biodegradable Plastic Market Research Report:

BASF SE
Biome Technologies plc
Bio-on S.p.A.
Corbion N.V.
Danimer Scientific
Eastman Chemical Company
Mitsubishi Chemical Corporation
NatureWorks LLC (Cargill Incorporated)
Novamont S.p.A.
Plantic Technologies Limited (KURARAY CO. LTD.)
Toray Industries Inc.
Total Corbion PLA

Key Market Segmentation:

The report has segmented the global biodegradable plastic market report on the basis of type, End-use and country.

Breakup by Type:

Starch-based
PLA
PBS
PBAT
PHA
Others

Breakup by End Use:

Packaging
Agriculture
Consumer Goods
Others

Breakup by Region:

North America
Asia-Pacific
Europe
Latin America
Middle East and Africa

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Key Highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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