At 14.5% CAGR, Biodegradable Plastic Market growth Poised to Touch USD 10,086.2 Mn by 2027

Global Biodegradable Plastic Market report focuses on the major drivers and restraints for the key players. It also provides granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The Biodegradable Plastic research report is a professional and in-depth study on the current state of the Biodegradable Plastic.

The global biodegradable plastic market accounted for US$ 2,989.8 Mn in 2018 and is expected to grow at a CAGR of 14.5% during the forecast period 2019 – 2027, to account to US$ 10,086.2 Mn by 2027. Biodegradable plastic can be decomposed by the action of living organisms, usually microbes, into the water, carbon dioxide, and biomass.

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It is produced with renewable raw materials, microorganisms, and petrochemicals. Currently, excessive plastic waste and its disposal have become a major environmental issue globally. Biodegradable plastics are used as an effective and environment-friendly alternative to commercial plastic. Significant reduction in carbon emissions during the manufacturing process is a major advantage of biodegradable plastics over conventional plastics.

This factor further boosts the growth of the biodegradable plastic market. Apart from taking significantly lesser time to break down, compared to conventional plastic, biodegradable plastic can also be further recycled to create more plastic products such as packaging bags. This further propels the growth of biodegradable plastic over the forecast period. However, the high cost of biodegradable plastic as compared to conventional plastic is projected to hamper the growth of the biodegradable plastic market.

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The customers in developed and developing countries have become more aware of the ill effects of conventional plastics on their lifestyle and the environment. As a result, they demand more environmentally friendly products, which leads to a decrease in the use of crude oil and natural gas, thereby reducing carbon footprints. Biodegradable plastic is an alternative for nearly all conventional plastics used in a diverse range of applications.

These plastics offer innovative solutions with enhanced properties, along with distinctive ability to reduce emissions as well as provide the same qualities and functionalities as that of conventional plastics. Therefore, rising demand for more sustainable plastic products provides a huge opportunity for the key players operating in the biodegradable plastic market.

Many industry players from packaging, agriculture, consumer goods, and textile, among others, are inclined toward delivering biodegradable plastic products owing to the rising awareness about the impact of plastic consumption on the environment.

Various organizations are working toward bringing transformation in the handling of plastics, through strategic planning, communication, consumer awareness campaigns, documentary films, education, cleanup campaigns, raising business awareness, scientific research, entrepreneurial innovation, legislation, and sustainability.

The key aim is to increase the understanding of users regarding plastic pollution, thereby encouraging the invention of more sustainable solutions, and empowerment of more people and business organizations to take action to stop plastic pollution. Moreover, increasing efforts to develop new biodegradable plastic products leads to growing biodegradable plastic market. Moreover, the revolution in consumer demand on the basis of environmental awareness, packaging convenience, and sustainable plastic production systems is boosting the global biodegradable plastic market growth.

Some of the players present in global biodegradable plastic market are API SpA, BASF S.E, FKuR Kunststoff GmbH, Green Dot Bioplastics, Novamont S.p.A, Kingfa Sci. & Tech. Co., Ltd., GuangDong Huazhilu Biological Material Co., Ltd, Mitsubishi Chemical Corporation, Plantic Technologies Limited, and Total Corbion PLA, among others.

The overall global biodegradable plastic market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the biodegradable plastic market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis.

The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the biodegradable plastic market.

Table of Contents

  1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Global Biodegradable Plastics Market – By Type

1.3.2 Global Biodegradable Plastics Market – By End User

1.3.3 Global Biodegradable Plastics Market – By Geography

  1. Key Takeaways
  2. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

  1. Biodegradable Plastic Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 North America PEST Analysis

4.2.2 Europe PEST analysis

4.2.3 APAC PEST Analysis

4.2.4 MEA PEST Analysis

4.2.5 South America PEST Analysis

4.3 Expert Opinions

  1. Biodegradable Plastic Market – Key Industry Dynamics

5.1 Key Market Drivers

5.1.1 Increasing awareness among customers about adverse effects of conventional Plastics

5.1.2 Rising government initiatives to ban conventional Plastics and related products

5.2 Key Market Restraints

5.2.1 Higher cost of biodegradable Plastics than conventional Plastics

5.3 Key Market Opportunities

5.3.1 Surge in need for sustainable packaging solutions

5.4 Future trends

5.4.1 Emerging use of biodegradable Plastics in biomedical application

5.5 Impact Analysis of Drivers and Restraints

5.6 List of Buyers for Biodegradable Plastic

  1. Biodegradable Plastic- Global Market Analysis

6.1 Global Biodegradable Plastic Market Overview

6.2 Biodegradable Plastic Market Forecast and Analysis

6.3 Market Positioning

  1. Global Biodegradable Plastics Market Analysis – By Type

7.1 Overview

7.2 Global Biodegradable Plastics Market Breakdown, By Type, 2018 & 2027

7.3 PHA

7.3.1 Overview

7.3.2 Global PHA Biodegradable Plastics Market Revenue and Forecasts To 2027 (US$ Mn)

7.4 PLA

7.4.1 Overview

7.4.2 Global PLA Biodegradable Plastics Market Revenue and Forecasts to 2027 (US$ MN)

7.5 Starch Blends

7.5.1 Overview

7.5.2 Global Starch Blends Biodegradable Plastics Market Revenue and Forecasts To 2027 (US$ Mn)

7.6 PBS

7.6.1 Overview

7.6.2 Global PBS Biodegradable Plastics Market Revenue and Forecasts To 2027 (US$ Mn)

7.7 PBAT

7.7.1 Overview

7.7.2 Global PBAT Biodegradable Plastics Market Revenue and Forecasts To 2027 (US$ Mn)

7.8 Others

7.8.1 Overview

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Biodegradable Plastic Market 2020 Analysis and Outlook: BASF SE, Mitsubishi Chemical Holdings Corporation, Kuraray Co., Ltd. (KURRY)

This report on the global Biodegradable Plastic Market Research Report 2020 is detailed research that helps answer business questions related to competitive intelligence, market analysis, and market trends. It also highlights each of the prominent factors responsible for the growth of the market are;  demographics, increasing purchasing power, increasing demand, regulatory policies, product standards, and manufacturing standards.

The global Biodegradable Plastic market size is expected to gain market growth in the forecast period of 2020 to 2026, with a CAGR of 8.5% in the forecast period of 2020 to 2026 and will expected to reach around USD 4200 million by 2026, from USD 2856.5 million in 2019.

Key Vendors:

BASF SE, Mitsubishi Chemical Holdings Corporation, Kuraray Co., Ltd. (KURRY), Corbion N.V., Metabolix, NatureWorks, Biome Technologies, Bio-On SpA, Meredian Holdings Group, Tianan Biologic Materials, request free sample for complete list of companies.

The leading players of Biodegradable Plastic industry, their market share, product portfolio, company profiles are covered in this report. The competitive market scenario among Biodegradable Plastic players will help the industry aspirants in planning their strategies.

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Summary

Biodegradable plastics are defined as plastics that undergo decomposition in a specified period of time under composting conditions in industrial facilities. Biodegradable plastics are increasingly gaining popularity over the past decade. They are used in various applications, most importantly in packaging application. The biodegradable plastics market still accounts for less than 1% of the overall plastics market, but, with growing consumption, this trend is expected to change in the near future.

Biodegradable Plastic Market Segment by Type covers:

Polylactic Acid (PLA)
Polybutylene Succinate (PBS)
Polyhydroxyalkanoates (PHA)
Cellulose Derivatives
Others

Biodegradable Plastic Market Segmented by Applications:

Packaging
Textiles
Automotive
Agriculture
Construction
Others

Market Segment by Regions:

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The report is useful in providing answers to several critical questions that are important for the industry stakeholders such as key players and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Key target audience is:

– Manufacturers of Biodegradable Plastic

– raw material suppliers

– market studies and consulting

– Government agencies such as regulating authorities and policymakers

– organizations, forums and alliances related to Biodegradable Plastic

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These segments are thoroughly evaluated on an individual basis and a team of analysts has ensured to give a crystal clear idea about various lucrative segments of the industry. This detailed analysis using segmentation by providing precise results on industry-related markets.

The report also analyzed the evolution of industry trends. Several macroeconomic factors such as Gross domestic product (GDP) and the increasing inflation rate is expected to affect directly or indirectly in the development of the industry.

What is present in the report?

Detailed analysis of data center for specific country

Current opportunity and future potential identification

Most exhaustive and updated report

Helps to identify the current trends, challenges and market drivers

Covers value chain evolution and changing distribution dynamics

Coverage regarding what your competitors are doing in the market

Table of contents:

Part 1. Summary

Part 2. Report Methodology
Part 3. Market Overview
Part 4. Industry Value Chain
Part 5. Competitive Landscape
Part 6. Segmentation by Type
Part 7. Segmentation by Application
Part 8. Regional Perspectives
Part 9. Company Profiles
Part 10. Market Forecast
Part 11. Market Drivers
Part 12. Industry Activity
Part 13. Appendix

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