Dublin, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The "Biodegradable Plastic Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global biodegradable plastic market size reached US$ 4.4 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 7.5 Billion by 2027, exhibiting a CAGR of 9.3% during 2021-2027.
Biodegradable plastics are made using petroleum-based sources and renewable raw materials, such as corn, wheat, bamboo, and sugarcane. They are degraded by microorganisms like fungi and bacteria into water, biomass, and carbon dioxide (CO2). As a result, they are utilized in different ways, from flexible packing materials for different food products to extruded, injection-molded in conventional machines. Presently, the excessive use of disposable single-use plastics and their negative impact on the environment and human health is catalyzing the demand for biodegradable plastics worldwide.
Biodegradable Plastic Market Trends:
Biodegradable plastics are used in the agriculture and horticulture sectors for manufacturing mulching films and plant pots. This, in confluence with the increasing utilization of agricultural products in the burgeoning food and beverage (F&B) sector, represents one of the key factors bolstering the market growth. Moreover, governing agencies of numerous countries are imposing bans on non-biodegradable plastics on account of rising environmental concerns.
They are also implementing high standards and introducing certification systems to manage the quality of products. This, coupled with the growing awareness about the detrimental impact of plastics, is positively influencing the demand for eco-friendly alternatives like biodegradable plastics.
Apart from this, the surging use of online food delivery applications and boosting sales of ready-to-eat (RTE) products is promoting the adoption of biodegradable plastics for food packaging and compostable bags. Furthermore, several leading companies are focusing on shifting their production facilities of biodegradable polymers to emerging countries due to affordable human resources and the convenience of feedstock acquisition. They are also improving manufacturing procedures and chemical additives. This is anticipated to increase the development and application of biodegradable plastics in various countries, thereby strengthening the market growth.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global biodegradable plastic market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type and end use.
Breakup by Type:
- Starch-based
- PLA
- PBS
- PBAT
- PHA
- Others
Breakup by End Use:
- Packaging
- Agriculture
- Consumer Goods
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global biodegradable plastic market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global biodegradable plastic market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global biodegradable plastic market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Biodegradable Plastic Market
6 Market Breakup by Type
7 Market Breakup by End Use
8 Market Breakup by Region
9 SWOT Analysis
10 Value Chain Analysis
11 Porters Five Forces Analysis
12 Price Analysis
13 Competitive Landscape
Companies Mentioned
- BASF SE
- Biome Technologies plc
- Bio-on S.p.A.
- Corbion N.V.
- Danimer Scientific
- Eastman Chemical Company
- Mitsubishi Chemical Corporation
- NatureWorks LLC (Cargill Incorporated)
- Novamont S.p.A.
- Plantic Technologies Limited (KURARAY CO. LTD.)
- Toray Industries Inc.
- Total Corbion PLA.
For more information about this report visit https://www.researchandmarkets.com/r/2uh7rm
Attachment
