According to TechSci Research report, “Biodegradable Plastic Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2030F”, The global Biodegradable Plastic Market stood at USD 3.21 Billion in 2024 and is expected to grow at a CAGR of 6.23% during the forecast period. The rise in fossil fuel prices, particularly crude oil, is expected to lead to higher costs for conventional plastics. Recently, crude oil prices have experienced significant increases, driven initially by the pandemic and more recently by geopolitical tensions in the West. Furthermore, given the finite nature of conventional fuels, their prices are projected to continue rising in the long term. This trend is likely to make biodegradable plastics more economically viable and accessible to a broader segment of the population.
Market Drivers
One of the primary drivers of the market is the growing regulatory pressure across various regions to curb plastic pollution. Governments around the world are imposing bans and restrictions on conventional plastics, prompting industries to switch to biodegradable alternatives. In addition, increasing consumer preference for eco-friendly products is pushing companies to adopt sustainable packaging solutions.
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Opportunities
The market holds strong potential for innovation and growth, especially in the agriculture and food packaging sectors. Biodegradable films are being widely adopted in agricultural mulching to reduce plastic waste and improve soil health. Additionally, increasing investments in R&D to enhance the performance and cost-efficiency of biodegradable films are expected to open new avenues for market players.
Challenges
Despite its growth prospects, the biodegradable plastic films market faces challenges such as higher production costs compared to traditional plastics, limited industrial composting infrastructure, and relatively lower mechanical strength in certain applications. These limitations may hinder large-scale adoption in specific industries.
Market Trends
A significant trend observed in the market is the increasing focus on the development of multi-layer biodegradable films that offer enhanced barrier properties. Moreover, collaborations between packaging companies and bio-based material developers are accelerating the commercial availability of high-performance biodegradable film solutions. The shift towards circular economy practices is further reinforcing the adoption of biodegradable materials across multiple end-use industries.
The Global Biodegradable Plastic Market is segmented based on type, end user, company, and regional distribution.
In terms of Type, Starch Blends have emerged as the dominating segment in the Global Biodegradable Plastic Market during the forecast period. This is due to several key factors. Firstly, starch is an abundant, renewable resource that offers significant cost advantages compared to other raw materials used in biodegradable plastics. This affordability makes starch-based plastics an attractive option for manufacturers aiming to reduce production costs while adhering to sustainable practices. Additionally, starch blends exhibit excellent biodegradability, which aligns with growing environmental concerns and regulatory pressure for more sustainable packaging solutions. These plastics can decompose efficiently in both industrial composting facilities and natural environments, making them an ideal alternative to conventional petroleum-based plastics.
Based on Region, Europe have emerged as the fastest growing region in the Global Biodegradable Plastic Market during the forecast period. A key driver is the region’s strong commitment to sustainability and environmental regulations. The European Union has implemented stringent policies, such as the European Green Deal and the Circular Economy Action Plan, which have significantly increased the demand for eco-friendly alternatives to conventional plastics. These regulations encourage the adoption of biodegradable plastics in packaging, agriculture, and other industries, fueling market growth.
Key market players in the Global Biodegradable Plastic Market include:
- Novamont S.p.A.
- NatureWorks LLC
- Futerro Inc.
- Corbion N.V.
- BASF SE
- Kingfa SCI. & TECH. Co. Limited
- Zhejiang Hisun Biomaterials Co. Limited
- Danimer Scientific Inc.
- Kaneka Corporation
- Mitsubishi Chemical Holdings Corporation
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“Nanotechnology is playing an increasingly influential role in the global biodegradable plastic market by enhancing the properties and performance of biodegradable materials. The integration of nanomaterials into biodegradable plastics has led to significant improvements in strength, flexibility, barrier properties, and overall durability. These advancements allow biodegradable plastics to compete more effectively with traditional petroleum-based plastics in a variety of applications, including packaging, agriculture, and medical products”, said Mr. Karan Chechi, Research Director of TechSci Research, a research based global management consulting firm.
“Biodegradable Plastic Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, Segmented By Type (Starch Blends, Polylactic Acid (PLA), Polybutylene Adipate Terephthalate (PBAT), Polyhydroxyalkanoate (PHA), Others), By End User (Packaging, Consumer Goods, Textiles, Others), By Region and competition, 2020-2030F”, has evaluated the future growth potential of Global Biodegradable Plastic Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Biodegradable Plastic Market.
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