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Global Biodegradable Plastics Market Projected to Reach USD 8 Billion by 2026

12-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Biodegradable Plastics Market By Type (Starch Based, PLA, PHA, PBAT, and PBS), By Product (Packaging, Consumer goods, and Agriculture) and By End-User (Food & beverage and Home & personal care): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Biodegradable Plastics market in 2019 was approximately USD 3.4 billion. The market is expected to grow at a CAGR of 13% and is anticipated to reach around USD 8 billion by 2026.

Increasing environmental problems caused by plastic use, consisting of toxic pollutants that are harmful to crops, animals, and humans, are driving the use of biodegradable plastics. Floating plastic waste that can withstand thousands of years in water will lead to growth in the market. L The demand for this sector is driven by strict rules by a number of federal and government bodies to eliminate plastic waste and encourage the use of biodegradable plastics. The Green Packaging Regulations are that the packaging industry and the various FMCG companies need to accept biodegradable packaging in order to meet the requirements of this sector, which are in effect driving their growth.

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Browse the full “Biodegradable Plastics Market By Type (Starch Based, PLA, PHA, PBAT, and PBS), By Product (Packaging, Consumer goods, and Agriculture) and By End-User (Food & beverage and Home & personal care): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/biodegradable-plastics-market-by-type-starch-based-pla-710

The market for biodegradable plastics is expected to show strong growth due to the increasing consumer demand for eco-friendly products. Technological innovation, advanced production processes and improved integration have made it possible for customers to have biodegradable packaging.

PLA is the largest class of the biodegradable plastics industry as it is used in many end-use industries, such as packaging & bags and consumer products. PLA is organic and biodegradable, that It makes PLA non-toxic and environmentally friendly. Degradation of plastic products may take up to 1,000 years, while PLA materials may biodegrade in industrial composting within 3–6 months.  It has excellent rigidity and makes it possible to replace polystyrene and PET in these applications. PLA is quickly adopted as the production of PLA is cheaper than the synthesis of other biodegradable plastics that drives the market growth.

APAC is projected to be the fastest-growing market for biodegradable plastics in the forecast period. The growing packaging and bag sector of APAC has provided significant opportunities to expand the market for biodegradable plastics in the country. APAC's demand for biodegradable plastics is driven by the growing use of biodegradable plastics in a number of end-use industries, including packaging, consumer products, agriculture & horticulture, and textiles.

The major players present in the global biodegradable plastics market include Cargill Incorporated, Biome Technologies Plc, BASF SE, and NatureWorks LLC.among others.

This report segments the biodegradable plastics market as follows:

Global Biodegradable Plastics Market: By Type Segmentation Analysis

  • Starch Based
  • PLA
  • PHA
  • PBAT
  • PBS

Global Biodegradable Plastics Market: By Application Segmentation Analysis

  • Packaging
  • Consumer goods
  • Agriculture

Global Biodegradable Plastics Market: By End User Segmentation Analysis

  • Food & beverage
  • Home & personal care

Global Biodegradable Plastics Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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