The Global Biodegradable Plastic market stood at USD3438.70 million in 2021 and is expected to grow at a CAGR of 9.03% during the forecast period. This can be attributed to the factors like the rising trend of environmentally friendly materials for packaging and rising environmental awareness among the masses, extensively publicized effects of climate change, price increases of fossil materials, research on the bio-based economy, which several national governments are already supporting, and advantages over conventional Plastic. Moreover, corporates are becoming more focused on sustainability.
Rising Environmental Awareness
The increasing use of biodegradable Plastic, with growing awareness among the public towards the ill effects of conventional plastic waste, is the major growth driver of the biodegradable Plastic industry. The rising trend of environmentally friendly materials for packaging has also influenced the market growth of biodegradable Plastic. These factors also contribute one step towards a sustainable future with reduced environmental impact.
Reduced Carbon Footprint and Additional Waste Management Options
Compared to conventional petroleum-derived Plastic, the use of biodegradable plastic significantly reduces carbon dioxide emissions by almost 50-70%. In addition to this, it also provides additional waste management options, such as composting, as it only requires disposing under certain conditions and turns into a natural fertilizer for plants, contributing positively to soil fertility.
Price Increase of Fossil Materials
Prices of fossil materials such as coal, gas, and petroleum products have been continuously increasing in the recent past and will continue to increase due to rising energy demand and reduced supplies. Conventional Plastic are derived from crude oil, and their price reached an all-time high in early 2022 due to geopolitical issues in Europe. So currently, biodegradable Plastic may seem to be expensive, but they will be cost-effective in the long run. Increasing fossil fuel prices directly contributes to the growth of the global biodegradable plastic market.
Political Support
Not only developed but a significant number of developing countries have also banned the use of conventional petroleum-derived Plastics, directly contributing to the increase in supply and demand for biodegradable Plastic. Several National Governments have already come up with supportive policies to boost production capacity and research on the bio-based economy.
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Market Segmentation
The global Biodegradable Plastic market is segmented based on type, end user industry, company, and regional distribution. Based on type, the market can be categorized into Starch Blends, Polylactic Acid (PLA), Polybutylene Adipate Terephthalate (PBAT), Polyhydroxyalkanoate (PHA) and Others. Based on the end user industry, the market is segmented into Packaging, Consumer Goods, Textiles and Others. Based on region, Europe dominated the market in 2021 with an overall share of 53.21% on account of widespread use and adoption of biodegradable Plastic. In Europe, Germany dominates the overall market because of the implementation of stringent regulations by the government on the use of conventional (petroleum-based) Plastic.
Company Profiles
Novamont S.p.A, NatureWorks LLC, Futerro, TotalEnergies Corbion, BASF SE, Kingfa SCI.& TECH. Co. Limited, Zhejiang Hisun Biomaterials Co. Limited, Danimer Scientific Inc., Kaneka Corporation, Mitsubishi Chemical Holdings Corporation, Toray Industries Inc, Biome BioPlastics are among the major market players in the Global Biodegradable Plastic Market.
Attribute | Details |
Market size value in 2021 | USD 3438.70 Million |
Revenue Forecast in 2027 | USD 5741.74 Million |
United States Market Size By Volume in 2021 | 120.75 thousand Tons |
Growth Rate | 9.03% |
Base Year | 2021 |
Historical Years | 2017 – 2020 |
Estimated Year | 2022 |
Forecast Period | 2023 – 2027 |
Quantitative Units | Revenue in USD Million, Volume in Thousand Tonnes and CAGR for 2017-2021 and 2022-2027 |
Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered | · Type· End user Industry |
Regional Scope | Europe; North America; Asia Pacific; South America; Middle East & Africa |
Country Scope | United States; Canada; Mexico; Germany; France; Italy; Poland; Netherlands; Greece; China; India; Japan; Australia; Vietnam; Brazil; Argentina; Colombia; Venezuela; Chile; Turkey; South Africa; Saudi Arabia; UAE; Qatar |
Key Companies Profiled | Novamont S.p.A, NatureWorks LLC, Futerro, Total Corbion PLA, BASF FE, Kingfa SCI & TECH. Co. Limited, Zhejiang Hisun Biomaterials Co. Limited, Danimer Scientific, Kaneka Corporation, Mitsubishi Chemical Holdings Corporation, Toray Industries Inc, Biome BioPlastics |
Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
Report Scope:
In this report, Global Biodegradable Plastic Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Biodegradable Plastic Market, By Type:
- Starch Blends
- Polylactic Acid (PLA)
- Polybutylene Adipate Terephthalate (PBAT)
- Polyhydroxyalkanoate (PHA)
- Others (Polyglycolic acid, Polybutylene succinate)
- Biodegradable Plastic Market, By End User Industry:
- Packaging
- Consumer Goods
- Textiles
- Others (Containers, 3D Printing)
- Biodegradable Plastic Market, By Region:
- Europe
- Germany
- France
- Italy
- Poland
- Netherlands
- Greece
- Asia Pacific
- China
- Japan
- India
- Vietnam
- Australia
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Chile
- Venezuela
- Middle East and Africa
- South Africa
- Saudi Arabia
- Turkey
- Qatar
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Biodegradable Plastic market.
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Table of Content
- Product Overview
- Research Methodology
- Executive Summary
- Impact of COVID-19 on Global Biodegradable Plastic Market
- Voice of Customer
5.1. Brand Awareness
5.2. Factors Contributing to Switch to Biodegradable Plastic
5.3. Preference, By Type
5.4. Demand, By End User Industry
- Global Biodegradable Plastic Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.1.2. By Volume
6.2. Market Share & Forecast
6.2.1. By Type (PLA, Starch Blends, PHA, PBAT, Others)
6.2.2. By End User Industry (Packaging, Consumer Goods, Textiles, Others)
6.2.3. By Region
6.2.4. By Company (2021)
6.2.5. By Region
6.3. Market Map
- Europe Biodegradable Plastic Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.1.2. By Volume
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By End User Industry
7.2.3. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Biodegradable Plastic Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Volume
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Type
7.3.1.2.2. By End User Industry
7.3.2. France Biodegradable Plastic Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Volume
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Type
7.3.2.2.2. By End User Industry
7.3.3. Italy Biodegradable Plastic Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Volume
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Type
7.3.3.2.2. By End User Industry
7.3.4. Poland Biodegradable Plastic Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Volume
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Type
7.3.4.2.2. By End User Industry
7.3.5. Netherlands Biodegradable Plastic Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Volume
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Type
7.3.5.2.2. By End User Industry
7.3.6. Greece Biodegradable Plastic Market Outlook
7.3.6.1. Market Size & Forecast
7.3.6.1.1. By Volume
7.3.6.2. Market Share & Forecast
7.3.6.2.1. By Type
7.3.6.2.2. By End User Industry
- Asia-Pacific Biodegradable Plastic Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.1.2. By Volume
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By End User Industry
8.2.3. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Biodegradable Plastic Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Volume
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Type
8.3.1.2.2. By End User Industry
8.3.2. Japan Biodegradable Plastic Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Volume
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Type
8.3.2.2.2. By End User Industry
8.3.3. India Biodegradable Plastic Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Volume
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Type
8.3.3.2.2. By End User Industry
8.3.4. Vietnam Biodegradable Plastic Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Volume
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Type
8.3.4.2.2. By End User Industry
8.3.5. Australia Biodegradable Plastic Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Volume
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Type
8.3.5.2.2. By End User Industry
- North America Biodegradable Plastic Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.1.2. By Volume
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By End User Industry
9.2.3. By Country
9.3. North America: Country Analysis
9.3.1. United States Biodegradable Plastic Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Volume
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Type
9.3.1.2.2. By End User Industry
9.3.2. Canada Biodegradable Plastic Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Volume
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Type
9.3.2.2.2. By End User Industry
9.3.3. Mexico Biodegradable Plastic Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Volume
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Type
9.3.3.2.2. By End User Industry
- South America Biodegradable Plastic Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.1.2. By Volume
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By End User Industry
10.2.3. By Country
10.3. South America: Country Analysis
10.3.1. Brazil Biodegradable Plastic Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Volume
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Type
10.3.1.2.2. By End User Industry
10.3.2. Argentina Biodegradable Plastic Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Volume
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Type
10.3.2.2.2. By End User Industry
10.3.3. Colombia Biodegradable Plastic Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Volume
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Type
10.3.3.2.2. By End User Industry
10.3.4. Chile Biodegradable Plastic Market Outlook
10.3.4.1. Market Size & Forecast
10.3.4.1.1. By Volume
10.3.4.2. Market Share & Forecast
10.3.4.2.1. By Type
10.3.4.2.2. By End User Industry
10.3.5. Venezuela Biodegradable Plastic Market Outlook
10.3.5.1. Market Size & Forecast
10.3.5.1.1. By Volume
10.3.5.2. Market Share & Forecast
10.3.5.2.1. By Type
10.3.5.2.2. By End User Industry
- Middle East and Africa Biodegradable Plastic Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.1.2. By Volume
11.2. Market Share & Forecast
11.2.1. By Type
11.2.2. By End User Industry
11.2.3. By Country
11.3. MEA: Country Analysis
11.3.1. South Africa Biodegradable Plastic Market Outlook
11.3.1.1. Market Size & Forecast
11.3.1.1.1. By Volume
11.3.1.2. Market Share & Forecast
11.3.1.2.1. By Type
11.3.1.2.2. By End User Industry
11.3.2. Saudi Arabia Biodegradable Plastic Market Outlook
11.3.2.1. Market Size & Forecast
11.3.2.1.1. By Volume
11.3.2.2. Market Share & Forecast
11.3.2.2.1. By Type
11.3.2.2.2. By End User Industry
11.3.3. Turkey Biodegradable Plastic Market Outlook
11.3.3.1. Market Size & Forecast
11.3.3.1.1. By Volume
11.3.3.2. Market Share & Forecast
11.3.3.2.1. By Type
11.3.3.2.2. By End User Industry
11.3.4. Qatar Biodegradable Plastic Market Outlook
11.3.4.1. Market Size & Forecast
11.3.4.1.1. By Volume
11.3.4.2. Market Share & Forecast
11.3.4.2.1. By Type
11.3.4.2.2. By End User Industry
11.3.5. UAE Biodegradable Plastic Market Outlook
11.3.5.1. Market Size & Forecast
11.3.5.1.1. By Volume
11.3.5.2. Market Share & Forecast
11.3.5.2.1. By Type
11.3.5.2.2. By End User Industry
- Market Dynamics
12.1. Drivers
12.2. Challenges
- Market Trends and Developments
- Competitive Landscape
14.1. Novamont S.p.A.
14.2. NatureWorks LLC
14.3. Futerro
14.4. TotalEnergies Corbion
14.5. BASF SE
14.6. Kingfa SCI. & TECH. Co. Limited
14.7. Zhejiang Hisun Biomaterials Co. Limited
14.8. Danimer Scientific
14.9. Kaneka Corporation
14.10. Mitsubishi Chemical Holdings Corporation
14.11. Toray Industries, INC
14.12. Biome BioPlastics
- Strategic Recommendations