Biodegradable Plastics Market by Type (PLA, Starch Blends, PHA, Biodegradable Polyesters), End Use Industry (Packaging, Consumer Goods, Textile, Agriculture & Horticulture), and Region( APAC, Europe, NA, South America, MEA)

The Biodegradable plastic market is projected to reach USD 20.9 billion by 2028, at a CAGR of 21.3% from USD 7.9 billion in 2023. The combination of environmental concerns, regulatory actions, consumer demand, corporate sustainability efforts, and advancements in biodegradable plastics technology are driving the adoption and use of biodegradable plastics.

Packaging application accounted for the fastest growth during the forecast period

Packaging is the largest end-use industry of biodegradable plastics. Increasing environmental regulations and changing lifestyles of consumers have increased the demand for biodegradable plastics in the packaging industry. The high durability and impermeability to water has encouraged plastic usage in packaging. Food & beverage manufacturers are increasingly switching to biodegradable plastics to mitigate environmental and economic issues. In many regions, especially Europe and North America, stringent governmental regulations are forcing industries to reduce their carbon footprint, which has increased the demand for bio-based products.

PLA biodegradable plastic is expected to be the largest type during the forecast period, in terms of value

PLA) is a biodegradable plastic that has gained significant attention and popularity in recent years. PLA has a wide range of applications, including packaging materials, disposable cutlery, food containers, films, fibers, and 3D printing filaments. It offers good clarity, strength, and printability, making it suitable for various uses. PLA's biodegradability and renewable nature make it a promising alternative to conventional plastics.

Based on region, Asia Pacific is the second fastest growing market for biodegradable plastic in 2022, in terms of value

Based on region, Asia Pacific is a key market to produce biodegradable plastics. The availability of low-cost raw materials and labor, coupled with growing awareness among people, makes the region an attractive investment destination for biodegradable plastic manufacturers. The rising population, urbanization, and industrialization are some of the factors that will drive the biodegradable plastic market in this region.

In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:

By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
By Designation: C-Level - 35%, Director Level - 25%, and Others - 40%
By Region: North America - 30%, Asia Pacific - 40%, Europe - 20%, Middle East & Africa-5%, and Latin America-5%

The key players in this market are BASF (Germany), NatureWorks (US), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Toray Industries (Japan), Plantic Technologies (Australia), Danimer Scientific (US), and Fkur Kunstsoff (Germany).

Research Coverage

This report segments the biodegradable plastic market based on type, application, and region, and provides estimations for the market's overall value across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products and services, key strategies, new product launches, expansions, and mergers and acquisitions associated with the biodegradable plastic market.

Key benefits of buying this report

This research report focuses on various levels of analysis, including industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the biodegradable plastic market, high-growth regions, and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (Changing consumer preference toward eco-friendly plastic products, increasing use in packaging and compostable bag applications), restraints (higher prices of biodegradable plastics than conventional plastics), opportunities (development of new applications) and challenges (performance issue, expensive and complex production process).
Market Penetration: Comprehensive information on the biodegradable plastic market offered by top players in the global biodegradable plastic market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the biodegradable plastic market.
Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for biodegradable plastic market across regions.
Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global biodegradable plastic market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the biodegradable plastic market

1 Introduction

1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
1.3.1 Markets Covered
Figure 1 Biodegradable Plastics Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered
1.4 Currency Considered
1.5 Unit Considered
1.6 Stakeholders
1.7 Summary of Changes

2 Research Methodology

2.1 Research Data
Figure 2 Biodegradable Plastics Market: Research Design
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Primary Interviews - Demand and Supply Sides
2.1.2.3 Key Industry Insights
2.1.2.4 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
Figure 3 Biodegradable Plastics Market: Bottom-Up Approach
2.2.2 Top-Down Approach
Figure 4 Biodegradable Plastics Market: Top-Down Approach
Figure 5 Market Size Estimation: Biodegradable Plastics Market Top-Down Approach
2.3 Forecast Number Calculation
Figure 6 Demand-Side Forecast Projections
2.4 Data Triangulation
Figure 7 Biodegradable Plastics Market: Data Triangulation
2.5 Factor Analysis
2.6 Research Assumptions
2.7 Limitations and Risks
2.8 Recession Impact

3 Executive Summary

Figure 8 Pla Biodegradable Plastics to Witness Fastest-Growth in Type
Figure 9 Packaging to Lead Overall Market During Forecast Period
Figure 10 Europe to be Fastest-Growing Market During Forecast Period

4 Premium Insights

4.1 Attractive Opportunities for Players in Biodegradable Plastics Market
Figure 11 Europe to Witness High Growth in Biodegradable Plastics Market During Forecast Period
4.2 Europe: Biodegradable Plastics Market, by End-Use Industry and Country
Figure 12 Packaging Segment and Germany Led Market in Europe
4.3 Biodegradable Plastics Market, by Type
Figure 13 Pla Biodegradable Plastics to Register Highest CAGR During Forecast Period
4.4 Biodegradable Plastics Market, by End-Use Industry
Figure 14 Packaging to Lead Market by 2028
4.5 Biodegradable Plastics Market, by Region
Figure 15 India to Register Highest CAGR in Biodegradable Plastics Market

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
Figure 16 Drivers, Restraints, Opportunities, and Challenges in the Biodegradable Plastics Market
5.2.1 Drivers
5.2.1.1 Changing Consumer Preference Toward Eco Friendly Plastic Products
Table 1 Adverse Health Effects due to Use of Conventional Plastics
5.2.1.2 Increasing Use of Packaging and Compostable Bags
5.2.1.3 Government Focus on Green Procurement Policies and Regulations
Table 2 Regulations on the Use of Plastic Bags
5.2.2 Restraints
5.2.2.1 Higher Price of Biodegradable Plastics Compared to Conventional Plastics
5.2.3 Opportunities
5.2.3.1 Development of New Applications
5.2.3.2 High Potential in Emerging Economies of Asia-Pacific
5.2.4 Challenges
5.2.4.1 Performance Issues
5.2.4.2 Expensive and Complex Production Process
5.2.4.3 Limited Regulations Related to Biodegradable Plastics in Emerging Economies
5.3 Porter's Five Forces Analysis
Figure 17 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of Substitutes
5.3.4 Threat of New Entrants
5.3.5 Intensity of Competitive Rivalry
Table 3 Biodegradable Plastics Market: Porter's Five Forces Analysis
5.4 Value Chain Analysis
Figure 18 Biodegradable Plastics Market: Value Chain Analysis
5.4.1 Raw Material Suppliers
5.4.2 Manufacturers
5.4.3 Distributors
5.4.4 End-Consumers
5.5 Regulatory Landscape
5.5.1 North America
5.5.1.1 Us
5.5.1.2 Canada
5.5.2 Asia-Pacific
5.5.3 Europe
5.5.4 Regulatory Bodies, Government Agencies, and Other Organizations
Table 4 Regulatory Bodies, Government Agencies, and Other Organizations
5.6 Key Conferences and Events, 2023-2024
Table 5 Biodegradable Plastics Market: Key Conferences and Events
5.7 Key Factors Affecting Buying Decisions
5.7.1 Quality
5.7.2 Service
Figure 19 Supplier Selection Criterion
5.8 Trade Analysis
Table 6 Import Trade Data of Pla for Top 10 Countries, 2018-2022 (USD Thousand)
Table 7 Export Trade Data of Pla for Top Countries, 2018-2022 (USD Thousand)
5.9 Ecosystem Mapping
Figure 20 Ecosystem
Table 8 Biodegradable Plastics: Ecosystem
5.10 Technology Analysis
5.10.1 Enzymatic Recycling of Polybutylene Adipate Terephthalate
5.10.2 Pha Biodegradable Bioplastic
5.10.3 Biodegradable Plastic Made from Red Fruit
5.10.4 3D Printing of Polybutylene Adipate Terephthalate
5.10.5 Biomedical Applications of Polybutylene Adipate Terephthalate
5.11 Case Study Analysis
5.11.1 Ecovio, a Biodegradable Polyester Developed by Basf Se
5.11.2 Adoption of Pbat Resin to Produce Bags
5.11.3 Development of Polyhydroxyalkanoates (Pha) by Danimer Scientific
5.12 Trends and Disruptions Impacting Customer Business
Figure 21 Trends/Disruptions Impacting Customer Business in Biodegradable Plastics Market
5.13 Macroeconomic Indicators
5.13.1 Gdp Trends and Forecast
Table 9 Projected Real Gross Domestic Product Growth (Annual Percent Change) of Key Countries, 2018-2025
Table 10 Production of Agricultural Crops, by Country, 2022 (Thousand Tons)
5.14 Average Selling Price Analysis
5.14.1 Average Selling Price, by Region
Figure 22 Average Selling Price, by Region (Usd/Kg)
5.14.2 Average Selling Price, by Type
Table 11 Average Selling Price Based on Type (Usd/Kg)
Figure 23 Average Selling Price, by Key Player (Usd/Kg)
5.15 Patent Analysis
5.15.1 Methodology
5.15.2 Document Types
Figure 24 Patent Applications Segment to Account for Highest Count Share in Last Ten Years
Figure 25 Publication Trends Over Last Ten Years
5.15.3 Insights
5.15.4 Legal Status
Figure 26 Legal Status of Patents
5.15.5 Jurisdiction Analysis
Figure 27 Top Jurisdictions, by Document
5.15.6 Top Companies/Applicants
Table 12 Top Ten Patent Owners in Last Ten Years

6 Biodegradable Plastics Market, by End-Use Industry

6.1 Introduction
Figure 28 Packaging Industry to Drive Biodegradable Plastics Market Between 2023 and 2028
Table 13 Biodegradable Plastics Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 14 Biodegradable Plastics Market, by End-Use Industry, 2023-2028 (Kiloton)
Table 15 Biodegradable Plastics Market, by End-Use Industry, 2019-2022 (USD Million)
Table 16 Biodegradable Plastics Market, by End-Use Industry, 2023-2028 (USD Million)
6.2 Packaging
6.2.1 Food & Beverage Industry to Drive Market
6.2.2 Flexible Packaging
6.2.2.1 Growing Consumer Awareness for Environmental Safety to Drive Market
6.2.2.2 Bags
6.2.2.3 Pouches
6.2.2.4 Films and Roll Stocks
6.2.2.5 Others
6.2.3 Rigid Packaging
6.2.3.1 Increasing Demand for Cartons, Bags, Boxes, and Containers to Drive Market
6.2.3.2 Bottle and Jars
6.2.3.3 Trays
6.2.3.4 Tubs
6.2.3.5 Caps and Closures
6.2.3.6 Others
6.3 Consumer Goods
6.3.1 Electrical Appliances
6.3.1.1 Demand from Fast-Moving Consumer Electronics to Drive Market
6.3.2 Domestic Appliances
6.3.2.1 Demand for Biodegradable Houseware to Drive Market
6.3.3 Others
6.4 Textile
6.4.1 Medical & Healthcare Textiles
6.4.1.1 Increasing Demand for Medical Textiles to Drive Market
6.4.2 Personal Care, Clothes, and Other Textiles
6.4.2.1 Increasing Demand for Thermoplastics Fibers to Drive Market
6.5 Agriculture
6.5.1 Tapes & Mulch Films
6.5.1.1 Low Labor and Disposal Costs to Drive Market
6.5.2 Others
6.6 Others

7 Biodegradable Plastic Market, by Type

7.1 Biodegradable Plastic
Figure 29 Polylactic Acid (Pla) to Lead Overall Biodegradable Plastics Market Between 2023 and 2028
Table 17 Biodegradable Plastics Market, by Type, 2019-2022 (Kiloton)
Table 18 Biodegradable Plastics Market, by Type, 2023-2028 (Kiloton)
Table 19 Biodegradable Plastics Market, by Type, 2019-2022 (USD Million)
Table 20 Biodegradable Plastics Market, by Type, 2023-2028 (USD Million)
7.2 Polylactic Acid (Pla)
7.2.1 Pla is More Economical Compared to Other Biodegradable Plastics
7.3 Starch Blends
7.3.1 Tensile Strength and Elongation Properties to Drive Market
7.4 Polyhydroxyalkanoates (Pha)
7.4.1 Increasing Demand for Liquid Packaging to Drive Market
7.5 Biodegradable Polyesters
7.5.1 Polycaprolactone (Pcl)
7.5.1.1 Pcl Properties Such as Toughness, Flexibility, Compression Set, and Tear Strength to Drive Market
7.5.2 Polybutylene Adipate Terephthalate (Pbat)
7.5.2.1 Packaging, Flexible Film, and Mulch Film Applications to Drive Market
7.5.3 Polybutylene Succinate (Pbs)
7.5.3.1 Cost-Effectiveness of Pbs to Drive Market
Table 21 Major Suppliers of Pbs
7.6 Others
7.6.1 Regenerative Cellulose
7.6.1.1 Cellulose Derivatives

8 Biodegradable Plastic Market, by Region

8.1 Introduction
Figure 30 China to Register Highest Growth During Forecast Period
Table 22 Biodegradable Plastic Market, by Region, 2019-2022 (USD Million)
Table 23 Biodegradable Plastic Market, by Region, 2023-2028 (USD Million)
Table 24 Biodegradable Plastic Market, by Region, 2019-2022 (Kiloton)
Table 25 Biodegradable Plastic Market, by Region, 2023-2028 (Kiloton)
8.2 Asia-Pacific
Figure 31 Asia-Pacific: Biodegradable Plastic Market Snapshot
Table 26 Asia-Pacific: Biodegradable Plastic Market, by Country, 2019-2022 (USD Million)
Table 27 Asia-Pacific: Biodegradable Plastic Market, by Country, 2023-2028 (USD Million)
Table 28 Asia-Pacific: Biodegradable Plastic Market, by Country, 2019-2022 (Kiloton)
Table 29 Asia-Pacific: Biodegradable Plastic Market, by Country, 2023-2028 (Kiloton)
Table 30 Asia-Pacific: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 31 Asia-Pacific: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 32 Asia-Pacific: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 33 Asia-Pacific: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.2.1 Recession Impact on Asia-Pacific
8.2.2 China
8.2.2.1 Ban on Single-Use Plastics to Drive Market
Table 34 China: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 35 China: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 36 China: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 37 China: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.2.3 Japan
8.2.3.1 Increasing Focus on R&D for Biodegradable Plastic to Drive Market
Table 38 Japan: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 39 Japan: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 40 Japan: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 41 Japan: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.2.4 India
8.2.4.1 Increasing Application of Biodegradable Plastics in Agricultural Industry to Drive Market
Table 42 India: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 43 India: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 44 India: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 45 India: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.2.5 South Korea
8.2.5.1 Environmental Sustainability to Drive Market
Table 46 South Korea: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 47 South Korea: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 48 South Korea: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 49 South Korea: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.2.6 Rest of Asia-Pacific
Table 50 Rest of Asia-Pacific: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 51 Rest of Asia-Pacific: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 52 Rest of Asia-Pacific: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 53 Rest of Asia-Pacific: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.3 Europe
Figure 32 Europe: Biodegradable Plastic Market Snapshot
Table 54 Europe: Biodegradable Plastic Market, by Country, 2019-2022 (USD Million)
Table 55 Europe: Biodegradable Plastic Market, by Country, 2023-2028 (USD Million)
Table 56 Europe: Biodegradable Plastic Market, by Country, 2019-2022 (Kiloton)
Table 57 Europe: Biodegradable Plastic Market, by Country, 2023-2028 (Kiloton)
Table 58 Europe: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 59 Europe: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 60 Europe: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 61 Europe: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.3.1 Recession Impact on Europe
8.3.2 Germany
8.3.2.1 Growth of Packaging Industry to Drive Market
Table 62 Germany: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 63 Germany: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 64 Germany: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 65 Germany: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.3.3 UK
8.3.3.1 Increasing Focus on Policies Implementation and Regulations to Drive Market
Table 66 UK: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 67 UK: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 68 UK: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 69 UK: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.3.4 France
8.3.4.1 Demand for Sustainable Packaging to Drive Market
Table 70 France: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 71 France: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 72 France: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 73 France: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.3.5 Italy
8.3.5.1 Growth of Packaging Industry to Drive Market
Table 74 Italy: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 75 Italy: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 76 Italy: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 77 Italy: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.3.6 Spain
8.3.6.1 Increasing Demand for Food & Beverage Packaging to Drive Market
Table 78 Spain: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 79 Spain: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 80 Spain: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 81 Spain: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.3.7 Rest of Europe
Table 82 Rest of Europe: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 83 Rest of Europe: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 84 Rest of Europe: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 85 Rest of Europe: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.4 North America
Figure 33 North America: Market Snapshot
Table 86 North America: Biodegradable Plastic Market, by Country, 2019-2022 (USD Million)
Table 87 North America: Biodegradable Plastic Market, by Country, 2023-2028 (USD Million)
Table 88 North America: Biodegradable Plastic Market, by Country, 2019-2022 (Kiloton)
Table 89 North America: Biodegradable Plastic Market, by Country, 2023-2028 (Kiloton)
Table 90 North America: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 91 North America: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 92 North America: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 93 North America: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.4.1 Recession Impact on North America
8.4.2 US
8.4.2.1 Increasing Focus Sustainable Packaging Products to Drive Market
Table 94 US: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 95 US: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 96 US: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 97 US: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.4.3 Canada
8.4.3.1 Growing Demand for Sustainable Packaging to Drive Market
Table 98 Canada: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 99 Canada: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 100 Canada: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 101 Canada: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.4.4 Mexico
8.4.4.1 Skilled Workforce, Geographic Advantages, Political and Economic Stability to Drive Market
Table 102 Mexico: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 103 Mexico: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 104 Mexico: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 105 Mexico: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.5 South America
Table 106 South America: Biodegradable Plastic Market, by Country, 2019-2022 (USD Million)
Table 107 South America: Biodegradable Plastic Market, by Country, 2023-2028 (USD Million)
Table 108 South America: Biodegradable Plastic Market, by Country, 2019-2022 (Kiloton)
Table 109 South America: Biodegradable Plastic Market, by Country, 2023-2028 (Kiloton)
Table 110 South America: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 111 South America: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 112 South America: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 113 South America: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.5.1 Brazil
8.5.1.1 Rising Demand for Sustainable Packaging Solutions from Agricultural Sector to Drive Market
Table 114 Brazil: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 115 Brazil: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 116 Brazil: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 117 Brazil: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.5.2 Argentina
8.5.2.1 Rising Demand for Environmentally Friendly Packaging Materials to Drive Market
Table 118 Argentina: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 119 Argentina: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 120 Argentina: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 121 Argentina: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.5.3 Rest of South America
Table 122 Rest of South America: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 123 Rest of South America: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 124 Rest of South America: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 125 Rest of South America: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.6 Middle East & Africa
Table 126 Middle East & Africa: Biodegradable Plastic Market, by Country, 2019-2022 (USD Million)
Table 127 Middle East & Africa: Biodegradable Plastic Market, by Country, 2023-2028 (USD Million)
Table 128 Middle East & Africa: Biodegradable Plastic Market, by Country, 2019-2022 (Kiloton)
Table 129 Middle East & Africa: Biodegradable Plastic Market, by Country, 2023-2028 (Kiloton)
Table 130 Middle East & Africa: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 131 Middle East & Africa: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 132 Middle East & Africa: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 133 Middle East & Africa: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.6.1 Saudi Arabia
8.6.1.1 Decision of Saso to Limit Application of Technical Regulations to Drive Market
Table 134 Saudi Arabia: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 135 Saudi Arabia: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 136 Saudi Arabia: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 137 Saudi Arabia: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.6.2 South Africa
8.6.2.1 Advancements in Bioplastics Research and Innovation to Drive Market
Table 138 South Africa: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 139 South Africa: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 140 South Africa: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 141 South Africa: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)
8.6.3 Rest of Middle East & Africa
Table 142 Rest of Middle East & Africa: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (USD Million)
Table 143 Rest of Middle East & Africa: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (USD Million)
Table 144 Rest of Middle East & Africa: Biodegradable Plastic Market, by End-Use Industry, 2019-2022 (Kiloton)
Table 145 Rest of Middle East & Africa: Biodegradable Plastic Market, by End-Use Industry, 2023-2028 (Kiloton)

9 Competitive Landscape

9.1 Overview
Table 146 Companies Adopted Investments & Expansions, and Acquisitions as Key Growth Strategies Between 2018-2023
9.2 Ranking Analysis of Key Market Players, 2022
Figure 34 Ranking of Top Five Players in the Biodegradable Plastics Market, 2022
9.3 Market Share Analysis
Figure 35 Biodegradable Plastics Market Share, by Company (2022)
Table 147 Biodegradable Plastics Market: Degree of Competition
9.4 Revenue Analysis of Top Players
Table 148 Biodegradable Plastics Market: Revenue Analysis (USD)
9.5 Market Evaluation Matrix
Table 149 Market Evaluation Matrix
9.6 Company Evaluation Matrix
9.6.1 Stars
9.6.2 Pervasive Players
9.6.3 Emerging Leaders
9.6.4 Participants
Figure 36 Biodegradable Plastics Market: Company Evaluation Matrix, 2022
9.7 Company End-Use Industry Footprint
9.8 Company Type Footprint
9.9 Company Region Footprint
9.10 Business Product Footprint
9.11 Start-Ups and Small and Medium-Sized Enterprises (Smes) Evaluation Matrix
9.11.1 Progressive Companies
9.11.2 Responsive Companies
9.11.3 Starting Blocks
9.11.4 Dynamic Companies
Figure 37 Biodegradable Plastics Market: Startups and Smes Matrix, 2022
9.12 Competitive Scenario
9.12.1 Product Launches
Table 150 Product Launches, 2018-2023
9.12.2 Deals
Table 151 Biodegradable Plastics: Deals, 2018 - 2023
9.12.3 Other Developments
Table 152 Other Developments, 2017-2023

10 Company Profiles

(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View)*
10.1 Key Players
10.1.1 Natureworks LLC
Table 153 Natureworks LLC: Company Overview
Table 154 Natureworks LLC: Product Offered
Table 155 Natureworks LLC: Product Launches
Table 156 Natureworks LLC: Deals
Table 157 Natureworks: Others
10.1.2 Basf Se
Table 158 Basf Se: Company Overview
Figure 38 Basf Se: Company Snapshot
Table 159 Basf Se: Product Offered
Table 160 Basf Se: Product Launches
Table 161 Basf Se: Deals
10.1.3 Totalenergies Corbion
Table 162 Totalenergies Corbion: Company Overview
Table 163 Totalenergies Corbion: Product Offered
Table 164 Totalenergies Corbion: Product Launches
Table 165 Totalenergies Corbion: Deals
Table 166 Totalenergies Corbion: Others
10.1.4 Mitsubishi Chemical Group Corporation
Table 167 Mitsubishi Chemical Group Corporation: Company Overview
Figure 39 Mitsubishi Chemical Group Corporation: Company Snapshot
Table 168 Mitsubishi Chemical Group Corporation: Product Offered
Table 169 Mitsubishi Chemical Group Corporation: Product Launches
Table 170 Mitsubishi Chemical Group Corporation: Deals
10.1.5 Biome Bioplastics
Table 171 Biome Bioplastics: Company Overview
Table 172 Biome Bioplastics: Product Offerings
Table 173 Biome Bioplastics: Deals
Table 174 Biome Bioplastics: Product Launches
Table 175 Biome Bioplastics: Others
10.1.6 Plantic Technologies
Table 176 Plantic Technologies: Company Overview
Table 177 Plantic Technologies: Product Offered
10.1.7 Bio-On
Table 178 Bio-On: Company Overview
Table 179 Bio-On: Product Offered
Table 180 Bio-On: Deals
Table 181 Bio-On: Others
10.1.8 Danimer Scientific
Table 182 Danimer Scientific: Company Overview
Table 183 Danimer Scientific: Product Offered
Table 184 Danimer Scientific: Product Launches
Table 185 Danimer Scientific: Deals
Table 186 Danimer Scientific: Others
10.1.9 Toray Industries
Table 187 Toray Industries: Company Overview
Table 188 Toray Industries: Product Offered
Table 189 Toray Industries: Product Launches
Table 190 Toray Industries: Deals
10.1.10 Novamont
Table 191 Novamont: Company Overview
Table 192 Novamont: Product Offerings
Table 193 Novamont: Product Launches
Table 194 Novamont: Deals
Table 195 Novamont: Others
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies.
10.2 Other Players
10.2.1 Zhejiang Hisun Biomaterials
10.2.2 Fkur Kunststoff GmbH
10.2.3 Bio-Fed
10.2.4 Green Dot Bioplastics
10.2.5 Synbra Technology
10.2.6 Sphere
10.2.7 Tianan Biologic Materials
10.2.8 Succinity
10.2.9 Carbiolice
10.2.10 Agrana
10.2.11 Futerro
10.2.12 Eastman Chemical Company
10.2.13 Ingevity
10.2.14 Ptt Mcc Biochem
10.2.15 Yield 10 Bioscience

11 Appendix

11.1 Insights from Industry Experts
11.2 Discussion Guide
11.3 Knowledgestore: The Subscription Portal
11.4 Customizations Options

Executive Summary

Companies Mentioned

Agrana
Basf Se
Bio-On
Bio-Fed
Biome Bioplastics
Carbiolice
Danimer Scientific
Eastman Chemical Company
Fkur Kunststoff GmbH
Futerro
Green Dot Bioplastics
Ingevity
Mitsubishi Chemical Group Corporation
Natureworks LLC
Novamont
Plantic Technologies
Ptt Mcc Biochem
Sphere
Succinity
Synbra Technology
Tianan Biologic Materials
Totalenergies Corbion
Toray Industries
Yield 10 Bioscience
Zhejiang Hisun Biomaterials

Methodology

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Table Information

Report Attribute	Details
No. of Pages	216
Published	July 2023
Forecast Period	2023 - 2028
Estimated Market Value ( USD ) in 2023	$ 7.9 Billion
Forecasted Market Value ( USD ) by 2028	$ 20.9 Billion
Compound Annual Growth Rate	21.3%
Regions Covered	Global
No. of Companies Mentioned	25

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Biodegradable Plastics Market by Type (PLA, Starch Blends, PHA, Biodegradable Polyesters), End Use Industry (Packaging, Consumer Goods, Textile, Agriculture & Horticulture), and Region( APAC, Europe, NA, South America, MEA) - Global Forecast to 2028

Packaging application accounted for the fastest growth during the forecast period

PLA biodegradable plastic is expected to be the largest type during the forecast period, in terms of value

Based on region, Asia Pacific is the second fastest growing market for biodegradable plastic in 2022, in terms of value

Research Coverage

Key benefits of buying this report

The report provides insights on the following pointers:

Table of Contents

Executive Summary

Companies Mentioned

Methodology

Table Information

Packaging application accounted for the fastest growth during the forecast period

PLA biodegradable plastic is expected to be the largest type during the forecast period, in terms of value

Based on region, Asia Pacific is the second fastest growing market for biodegradable plastic in 2022, in terms of value

Research Coverage

Key benefits of buying this report

The report provides insights on the following pointers:

Table of Contents

Executive Summary

Companies Mentioned

Methodology

Table Information

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