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The global biodegradable plastics market was valued at USD 7.06 billion in 2022, increasing at a CAGR of 20.03% from 2022 to 2030 and anticipated to reach USD 30.41 billion by 2030. Asia-Pacific is expected to grow the fastest during the forecast period. The COVID-19 epidemic negatively impacted global biodegradable plastics manufacturing due to the disturbance of supply chains & production services globally. Further, the increasing efforts to reduce conventional plastics and the rise in government industries are anticipated to propel the market growth during the forecast period.
Biodegradable plastics can be made from 1) biodegradable synthetic polyesters that are fossil-based, 2) a variety of organic bio-based materials like cellulose and starch, or 3) bio-based oils like sugarcane, which are not always biodegradable.
Biodegradable plastics are plastics that can be decayed by the activity of living organisms, usually microbes, into biomass, water, and carbon dioxide. A degradable plastic in which the degradation results from the action of naturally occurring microorganisms such as algae, bacteria, and fungi. Biodegradable plastics are perceived to be more eco-friendly due to their environmental advantages, which are difficult to deny reached to ordinary plastics. The existence of moisture also accelerates the breakdown method. Specifically, they break down in the presence of the sun's ultraviolet with some only breaking down at high consumer durable-scale temperatures. These kinds of plastics not only take less time to decompose when discarded but can also be readily recycled via an organic process. They are also non-toxic since they have no toxins or chemicals. Recycling aids in lessening landfill problems, and besides, the recycled bio-waste can be utilized as compost or as renewable energy for biogas. Biodegradable plastic breaks down only in a period of a few months, depending on the material used to make the bioplastic and the process of disposal. Other traditional plastic constitutes 13 % of the waste stream, which is 32 million tons of trash annually, and only 9 % of this type of plastic can be recycled. The usage of biodegradable plastic products instead of traditional plastics lessens the amount of greenhouse gas emissions. Biodegradable plastics are made from plants such as corn & soybeans. Consequently, there is a risk of contamination as the crops are commonly sprayed with pesticides when on the farm & can easily be transferred or contained in the end product. Biodegradable plastics are those which possess the attributes of composability and biodegradability. They can be converted into natural substances such as water, carbon dioxide, and compost by the action of micro-organisms in the environment. Biodegradable plastics are either petroleum-based or bio-based. It means anticipate petroleum-based non-biodegradable plastics all other plastics are considered bioplastics.
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For example, in July 2020, the German government declared a ban on single-use plastic products like straws, cutlery, food containers, and other similar products from July 2021 to minimize plastic waste nationwide.
Drivers:
The high demand for biodegradable plastic in food packaging applications: Biodegradable polymers or biopolymers emerged as an alternative approach for many industrial applications to control the risk caused by non-biodegradable plastic. The rising utilization of biodegradable plastics in food packaging is a significant driver of the market's growth in the forecast period. This growth is mainly owing to biodegradable polyesters being the best alternative to plastics. In addition, the rise in usage of food packaging, bottles, and disposable tableware and government support for biodegradable materials with strict regulations on plastics usage to minimize environmental pollution are anticipated to drive market growth during the forecast period. Furthermore, the government is creating awareness about biodegradable items and supporting manufacturers to deliver high-quality products.
Restraints:
A high price of biodegradable plastics: The complicated engineering system and costly equipment required for processing and recycling are restraining the market growth. Further, the higher costs of biodegradable plastics than conventional polymers also hamper the market growth. Also, compostable plastic bags are more expensive than traditional plastic because raw materials are more costly and less readily available, and manufacturing processes cost more with smaller batches. In addition, raw materials like soy, corn, and potato have costs associated with expanding and farming and converting them into starches to be fabricated into compostable plastic. These additional expenditures are united with manufacturing processes that reduce carbon emissions, electricity, and water costs. The present smaller batches that are manufactured price more than mass quantities.
Opportunity:
The development of new applications: The increasing prohibition against conventional plastics and government regulations towards sustainable ecosystem development are the driving factors of market growth. In addition, with profitable government regulations and an expanding focus on eco-friendly plastics for green procurement guidelines, biodegradable plastic producers have considerable growth opportunities in various end-use enterprises such as medical, electronics, and automotive. Further, biodegradable plastics such as PGA, PCL, PLA, and bio-PBS are utilised for manufacturing bio-medical devices & equipment. Also, biodegradable plastics converters profoundly support R&D activities for eco-friendly plastics in different applications in bio-medical applications, such as implants, stitching materials, and screws. Moreover, bioplastics are also utilised to manufacture more efficient and economical electrical equipment. Packaging application is also anticipated to witness significant growth during the projection period.
Challenges:
The performance issues: Some of the significant performance difficulties with biodegradable polymers are low heat resistance and poor water, air, and oxygen barrier qualities. This resulted in penetration limitations in several industries, including the automotive & electronics sectors. Moreover, biodegradable plastics are not utilised in many applications due to their poor mechanical qualities, including low tensile & impact strength. These biodegradable plastics' drawbacks severely hinder the market's development.
Regional segmentation analysis:
The regions analyzed for the market include Europe, South America, Asia Pacific, North America, the Middle East, and Africa. European emerged as the largest market for the global biodegradable plastics market, with a 45.39% share of the market revenue in 2022. European dominates the biodegradable plastics market due to the large presence of sugarcane feedstock, which can be used for the production of bioplastics. Further, the stringent regulations regarding the usage of plastic & plastic products, the robustly growing packaging sector catering to F&B and pharmaceuticals industries, rapidly innovating automotive sector are also stimulating market growth in this region. The Asia Pacific is expected to grow the fastest during the forecast period due to the increased governmental interest in promoting biodegradable products by providing incentives in some countries such as India & China. Further, the increasing government regulations about the ban on conventional plastic bags and worldwide warming initiatives are also helping to propel market growth. Moreover, the expanding utilization of biodegradable plastics in the packaging industry, expansion of the e-commerce sector, and the rising initiatives of the government, such as supportive policies & subsidies, are also helping to boost the market growth in this region.
European Region Biodegradable Plastics Market Share in 2022 - 43.36%
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Product segment analysis
The product segment is divided into polybutylene adipate terephthalate [PBAT], polylactic acid [PLA], polyhydroxyalkanoates [PHA], polybutylene succinate [PBS], starch blends, and others. The polylactic acid [PLA] segment dominated, with a market share of around 26.17% in 2022. This growth is attributed to its several attractive mechanical properties and low cost. Additionally, polylactic acid (PLA) is a kind of aliphatic polyester obtained by ring-opening polymerization of lactide monomer. The lactic acid monomers are usually obtained from the fermentation renewable materials like corn, sugar, other feedstocks, etc. It is recyclable, compostable, and degrades within a short life span with a high molecular weight and transparency. Further, by 2030, the starch blends segment will likely dominate the market due to the increasing application of starch-based plastics in end-use industries such as automobiles, packaging, and agriculture.
Application segment analysis
The application segment is divided into consumer durable, agriculture, packaging, textile and others. In 2022, the packaging segment dominated the market, accounting for around 31.12% of global revenue. This growth is attributed to the shifting trend of customers from synthetic to bio-based products in response to growing environmental awareness. Packaging is the term utilized to describe the wrapping material used to contain, protect, characterize, identify, display, and otherwise market and keep clean a customer product. Further, by 2030, the agriculture segment will likely dominate the market due to the increasing application of biodegradable mulch films in agriculture.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion), Volume in kilo tons |
| Market size value in 2022 | USD 7.06 Billion, Volume in kilo tons |
| Market size value in 2030 | USD 30.41 Billion, Volume in kilo tons |
| CAGR (2022 to 2030) | 20.03% |
| Historical data | 2019-2020 |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Segments | Key Segments are product, application, and regions |
| Regional Segments | The key regions are Asia Pacific, North America, South America, Europe, Asia Pacific, and Middle East & Africa. |
Europe region emerged as the largest market for the biodegradable plastics.
The market's growth will be influenced by the high demand of biodegradable plastic in food packaging application.
The high price of biodegradable plastics could hamper the market growth.
The increased demand for bio-degradable plastics across emerging nations will provide huge opportunities to the market.
Key players are PTT MCC Biochem Co., Ltd., Cargill Incorporated, Biome Technologies plc, Synbra Technology BV, Plantic Technologies Limited, Futerro, BASF SE, NatureWorks LLC, Total Corbion PLA, Eastman Chemical Company
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Product
4.3.2. Market Attractiveness Analysis By Application
4.3.3. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Market Evaluation
5.3. Drivers
5.3.1. The rising efforts to reduce the use of conventional plastics
5.3.2. The increase in government initiatives
5.3.3. The high demand of biodegradable plastic in food packaging application
5.4. Restraints
5.4.1. The easy availability of alternatives
5.4.2. A high price of biodegradable plastics
5.5. Opportunities
5.5.1. The increased demand for bio-degradable plastics across emerging nations
5.5.2. The development of new applications
5.6. Challenges
5.6.1. The performance issues
6. Global Biodegradable Plastics Market Analysis and Forecast, By Product
6.1. Segment Overview
6.2. Polybutylene Adipate Terephthalate [PBAT]
6.3. Polylactic Acid [PLA]
6.4. Polyhydroxyalkanoates [PHA]
6.5. Polybutylene Succinate [PBS]
6.6. Starch Blends
6.7. Others
7. Global Biodegradable Plastics Market Analysis and Forecast, By Application
7.1. Segment Overview
7.2. Consumer Durable
7.3. Agriculture
7.4. Packaging
7.5. Textile
7.6. Others
8. Global Biodegradable Plastics Market Analysis and Forecast, By Regional Analysis
8.1. Segment Overview
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. Italy
8.3.5. Spain
8.4. Asia-Pacific
8.4.1. Japan
8.4.2. China
8.4.3. India
8.5. South America
8.5.1. Brazil
8.6. Middle East and Africa
8.6.1. UAE
8.6.2. South Africa
9. Global Biodegradable Plastics Market-Competitive Landscape
9.1. Overview
9.2. Market Share of Key Players in Global Biodegradable Plastics Market
9.2.1. Global Company Market Share
9.2.2. North America Company Market Share
9.2.3. Europe Company Market Share
9.2.4. APAC Company Market Share
9.3. Competitive Situations and Trends
9.3.1. Product Launches and Developments
9.3.2. Partnerships, Collaborations, and Agreements
9.3.3. Mergers & Acquisitions
9.3.4. Expansions
10. Company Profiles
10.1. PTT MCC Biochem Co., Ltd.
10.1.1. Business Overview
10.1.2. Company Snapshot
10.1.3. Company Market Share Analysis
10.1.4. Company Product Portfolio
10.1.5. Recent Developments
10.1.6. SWOT Analysis
10.2. Cargill Incorporated
10.2.1. Business Overview
10.2.2. Company Snapshot
10.2.3. Company Market Share Analysis
10.2.4. Company Product Portfolio
10.2.5. Recent Developments
10.2.6. SWOT Analysis
10.3. Biome Technologies plc
10.3.1. Business Overview
10.3.2. Company Snapshot
10.3.3. Company Market Share Analysis
10.3.4. Company Product Portfolio
10.3.5. Recent Developments
10.3.6. SWOT Analysis
10.4. Synbra Technology BV
10.4.1. Business Overview
10.4.2. Company Snapshot
10.4.3. Company Market Share Analysis
10.4.4. Company Product Portfolio
10.4.5. Recent Developments
10.4.6. SWOT Analysis
10.5. Plantic Technologies Limited
10.5.1. Business Overview
10.5.2. Company Snapshot
10.5.3. Company Market Share Analysis
10.5.4. Company Product Portfolio
10.5.5. Recent Developments
10.5.6. SWOT Analysis
10.6. Futerro
10.6.1. Business Overview
10.6.2. Company Snapshot
10.6.3. Company Market Share Analysis
10.6.4. Company Product Portfolio
10.6.5. Recent Developments
10.6.6. SWOT Analysis
10.7. BASF SE
10.7.1. Business Overview
10.7.2. Company Snapshot
10.7.3. Company Market Share Analysis
10.7.4. Company Product Portfolio
10.7.5. Recent Developments
10.7.6. SWOT Analysis
10.8. NatureWorks LLC
10.8.1. Business Overview
10.8.2. Company Snapshot
10.8.3. Company Market Share Analysis
10.8.4. Company Product Portfolio
10.8.5. Recent Developments
10.8.6. SWOT Analysis
10.9. Total Corbion PLA
10.9.1. Business Overview
10.9.2. Company Snapshot
10.9.3. Company Market Share Analysis
10.9.4. Company Product Portfolio
10.9.5. Recent Developments
10.9.6. SWOT Analysis
10.10. Eastman Chemical Company
10.10.1. Business Overview
10.10.2. Company Snapshot
10.10.3. Company Market Share Analysis
10.10.4. Company Product Portfolio
10.10.5. Recent Developments
10.10.6. SWOT Analysis
10.11. Novamont SpA
10.11.1. Business Overview
10.11.2. Company Snapshot
10.11.3. Company Market Share Analysis
10.11.4. Company Product Portfolio
10.11.5. Recent Developments
10.11.6. SWOT Analysis
10.12. FKuR Kunststoff GmbH
10.12.1. Business Overview
10.12.2. Company Snapshot
10.12.3. Company Market Share Analysis
10.12.4. Company Product Portfolio
10.12.5. Recent Developments
10.12.6. SWOT Analysis
10.13. Danimer Scientific
10.13.1. Business Overview
10.13.2. Company Snapshot
10.13.3. Company Market Share Analysis
10.13.4. Company Product Portfolio
10.13.5. Recent Developments
10.13.6. SWOT Analysis
10.14. Trineso
10.14.1. Business Overview
10.14.2. Company Snapshot
10.14.3. Company Market Share Analysis
10.14.4. Company Product Portfolio
10.14.5. Recent Developments
10.14.6. SWOT Analysis
List of Table
1. Global Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
2. Global Polybutylene Adipate Terephthalate [PBAT], Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
3. Global Polylactic Acid [PLA], Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
4. Global Polyhydroxyalkanoates [PHA], Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
5. Global Polybutylene Succinate [PBS], Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
6. Global Starch Blends, Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
7. Global Others, Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
8. Global Biodegradable Plastics Market, By Application, 2019-2030 (USD Billion) (Kilo Tons)
9. Global Consumer Durable, Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
10. Global Agriculture, Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
11. Global Packaging, Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
12. Global Textile, Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
13. Global Others, Biodegradable Plastics Market, By Region, 2019-2030 (USD Billion) (Kilo Tons)
14. North America Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
15. North America Biodegradable Plastics Market, By Application, 2019-2030 (USD Billion) (Kilo Tons)
16. U.S. Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
17. U.S. Biodegradable Plastics Market, By Application, 2019-2030 (USD Billion) (Kilo Tons)
18. Canada Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
19. Canada Biodegradable Plastics Market, By Application, 2019-2030 (USD Billion) (Kilo Tons)
20. Mexico Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
21. Mexico Biodegradable Plastics Market, By Application, 2019-2030 (USD Billion) (Kilo Tons)
22. Europe Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
23. Europe Biodegradable Plastics Market, By Application, 2019-2030 (USD Billion) (Kilo Tons)
24. Germany Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
25. Germany Biodegradable Plastics Market, By Application, 2019-2030 (USD Billion) (Kilo Tons)
26. France Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
27. France Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
28. U.K. Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
29. U.K. Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
30. Italy Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
31. Italy Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
32. Spain Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
33. Spain Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
34. Asia Pacific Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
35. Asia Pacific Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
36. Japan Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
37. Japan Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
38. China Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
39. China Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
40. India Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
41. India Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
42. South America Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
43. South America Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
44. Brazil Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
45. Brazil Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
46. Middle East and Africa Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
47. Middle East and Africa Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
48. UAE Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
49. UAE Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
50. South Africa Biodegradable Plastics Market, By Product, 2019-2030 (USD Billion) (Kilo Tons)
51. South Africa Biodegradable Plastics Market, By Application 2019-2030 (USD Billion) (Kilo Tons)
List of Figures
1. Global Biodegradable Plastics Market Segmentation
2. Global Biodegradable Plastics Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Biodegradable Plastics Market Attractiveness Analysis By Product
9. Global Biodegradable Plastics Market Attractiveness Analysis By Application
10. Global Biodegradable Plastics Market Attractiveness Analysis By Region
11. Global Biodegradable Plastics Market: Dynamics
12. Global Biodegradable Plastics Market Share By Product (2022 & 2030)
13. Global Biodegradable Plastics Market Share By Application (2022 & 2030)
14. Global Biodegradable Plastics Market Share By Regions (2022 & 2030)
15. Global Biodegradable Plastics Market Share By Company (2021)
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global biodegradable plastics based on below mentioned segments:
Global Biodegradable Plastics Market by Product:
Global Biodegradable Plastics Market by Application:
Global Biodegradable Plastics by Region:
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