This report describes and evaluates the global biodegradable plastics market. It covers 2016-2021, termed the historic period, 2021-2026 forecast period, and 2026-2031 forecast period.
The global biodegradable plastics market reached a value of nearly $4397.1 million in 2021, having increased at a compound annual growth rate (CAGR) of 7.4% since 2016. The market increased from $4,397.1 million in 2021 to $9,134.5 million in 2026 at a rate of 15.7%. The market is expected to grow to $18,771.4 million in 2031 at a compound annual growth rate (CAGR) of 15.5%.
Growth factors in the historic period include growing concerns for the environment, increasing use of biodegradable plastic and emerging markets growth. Factors that negatively affected growth in the historic period were challenges due to high cost, alternative products and pollution caused by bioplastics.
Going forward, new product launches, a rise in environmental awareness and government initiatives will drive the market for Biodegradable plastics. Factors that could hinder the growth of the biodegradable plastics market in the future include extra land required to produce bioplastics, a shift towards packaging free products, inability to replicate traditional plastics and reduction in free trade.
The biodegradable plastics market is segmented by type into polylactic acid (PLA), polybutylene adipate terephthalate (PBAT), polybutylene succinate (PBS), polyhydroxyalkanoates (PHA), starch blends and other types. The polybutylene adipate terephthalate (PBAT) market was the largest segment of the biodegradable plastics market segmented by type, accounting for 25.3% of the total in 2021 and going forward the polybutylene adipate terephthalate (PBAT) market is expected to be the fastest growing segment in the Biodegradable plastics market, at a CAGR of 16.9.
The biodegradable plastics market is segmented by end-user into packaging, agriculture, consumer goods and others. The packaging market was the largest segment of the biodegradable plastics market segmented by type, accounting for 52.2% of the total in 2021 and going forward the agriculture market is expected to be the fastest growing segment in the Biodegradable plastics market, at a CAGR of 17.3%.
North America was the largest region in the global biodegradable plastics market, accounting for 31.4% of the total in 2021. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the Biodegradable plastics market will be Asia-Pacific, and North America, where growth will be at CAGRs of 19.1% and 16.5% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 15.0% and 12.6% respectively.
The biodegradable plastics market is highly fragmented, with a large number of large players dominating the market. Major players in the market include BASF SE, Mitsubishi Chemical Holding Corporation, Kaneka Corporation, Novamont SpA, Corbion N.V. (Total Cobion PLA), Eastman Chemical Company, Danimer Scientific, NatureWorks LLC, Biome Technologies Plc, Fkur Kunstsoff and others.
The top opportunities in the biodegradable plastics market segmented by type will arise in the polybutylene adipate terephthalate (PBAT) market segment, which will gain $1,315.7 million of global annual sales by 2026.
The top opportunities in the biodegradable plastics market segmented by end-user will arise in the packaging market segment, which will gain $2,449.2 million of global annual sales by 2026.
Market-trend-based strategies for biodegradable plastics market include product innovation, integrating antimicrobial technology in biodegradable polymers, use of biodegradable plastics lightweighting, increasing mergers and acquisitions, use of artificial intelligence and upcycled packaging materials.
Player based strategies include focus on investing in new product launches, geographical expansions and strategic collaborations and partnerships to strengthen their product offerings.
To take advantage of the opportunities, the publisher recommends the biodegradable plastics companies to focus on launching innovative products, integrate antimicrobial technology in biodegradable polymers, increase focus on upcycled packaging materials, expand in emerging markets, focus on strategic partnerships and collaborations, offer competitive pricing, continue to use B2B promotions, continue to participate in events and conferences and focus on fast-growing end-users.
The global biodegradable plastics market reached a value of nearly $4397.1 million in 2021, having increased at a compound annual growth rate (CAGR) of 7.4% since 2016. The market increased from $4,397.1 million in 2021 to $9,134.5 million in 2026 at a rate of 15.7%. The market is expected to grow to $18,771.4 million in 2031 at a compound annual growth rate (CAGR) of 15.5%.
Growth factors in the historic period include growing concerns for the environment, increasing use of biodegradable plastic and emerging markets growth. Factors that negatively affected growth in the historic period were challenges due to high cost, alternative products and pollution caused by bioplastics.
Going forward, new product launches, a rise in environmental awareness and government initiatives will drive the market for Biodegradable plastics. Factors that could hinder the growth of the biodegradable plastics market in the future include extra land required to produce bioplastics, a shift towards packaging free products, inability to replicate traditional plastics and reduction in free trade.
The biodegradable plastics market is segmented by type into polylactic acid (PLA), polybutylene adipate terephthalate (PBAT), polybutylene succinate (PBS), polyhydroxyalkanoates (PHA), starch blends and other types. The polybutylene adipate terephthalate (PBAT) market was the largest segment of the biodegradable plastics market segmented by type, accounting for 25.3% of the total in 2021 and going forward the polybutylene adipate terephthalate (PBAT) market is expected to be the fastest growing segment in the Biodegradable plastics market, at a CAGR of 16.9.
The biodegradable plastics market is segmented by end-user into packaging, agriculture, consumer goods and others. The packaging market was the largest segment of the biodegradable plastics market segmented by type, accounting for 52.2% of the total in 2021 and going forward the agriculture market is expected to be the fastest growing segment in the Biodegradable plastics market, at a CAGR of 17.3%.
North America was the largest region in the global biodegradable plastics market, accounting for 31.4% of the total in 2021. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the Biodegradable plastics market will be Asia-Pacific, and North America, where growth will be at CAGRs of 19.1% and 16.5% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 15.0% and 12.6% respectively.
The biodegradable plastics market is highly fragmented, with a large number of large players dominating the market. Major players in the market include BASF SE, Mitsubishi Chemical Holding Corporation, Kaneka Corporation, Novamont SpA, Corbion N.V. (Total Cobion PLA), Eastman Chemical Company, Danimer Scientific, NatureWorks LLC, Biome Technologies Plc, Fkur Kunstsoff and others.
The top opportunities in the biodegradable plastics market segmented by type will arise in the polybutylene adipate terephthalate (PBAT) market segment, which will gain $1,315.7 million of global annual sales by 2026.
The top opportunities in the biodegradable plastics market segmented by end-user will arise in the packaging market segment, which will gain $2,449.2 million of global annual sales by 2026.
Market-trend-based strategies for biodegradable plastics market include product innovation, integrating antimicrobial technology in biodegradable polymers, use of biodegradable plastics lightweighting, increasing mergers and acquisitions, use of artificial intelligence and upcycled packaging materials.
Player based strategies include focus on investing in new product launches, geographical expansions and strategic collaborations and partnerships to strengthen their product offerings.
To take advantage of the opportunities, the publisher recommends the biodegradable plastics companies to focus on launching innovative products, integrate antimicrobial technology in biodegradable polymers, increase focus on upcycled packaging materials, expand in emerging markets, focus on strategic partnerships and collaborations, offer competitive pricing, continue to use B2B promotions, continue to participate in events and conferences and focus on fast-growing end-users.
Frequently Asked Questions about the Global Biodegradable Plastics Market
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Report Attribute | Details |
---|---|
No. of Pages | 276 |
Published | November 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD
| USD 4397.1 Million |
Forecasted Market Value ( USD
| USD 18771.4 Million |
Compound Annual Growth Rate | 15.6% |
Regions Covered | Global |
Table of Contents
1. Biodegradable Plastics Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure
6. Introduction and Market Characteristics
7. Major Trends
8 . Global Market Size And Growth
9. Global Biodegradable Plastics Market Segmentation
10. Biodegradable Plastics Market, Regional And Country Analysis
11. Asia-Pacific Market
12. Western Europe Market
13. Eastern Europe Market
14. North America Market
15. South America Market
16. Middle East Market
17. Africa Market
19. Company Profiles
20. Key Mergers And Acquisitions
21. Global Biodegradable Plastics Market Opportunities And Strategies
22. Biodegradable Plastics Market, Conclusions And Recommendations
23. Appendix
Executive Summary
Biodegradable Plastics Global Market Opportunities And Strategies To 2031 from the publisher provides the strategists; marketers and senior management with the critical information they need to assess the global biodegradable plastics market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates
- Create regional and country strategies on the basis of local data and analysis
- Identify growth segments for investment
- Outperform competitors using forecast data and the drivers and trends shaping the market
- Understand customers based on the latest market research findings
- Benchmark performance against key competitors
- Utilize the relationships between key data sets for superior strategizing
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
Description:
Where is the largest and fastest-growing market for biodegradable plastics? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The biodegradable plastics market global report from the publisher answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider biodegradable plastics market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the biodegradable plastics market
- Key Trends - Highlights the major trends shaping the global biodegradable plastics market. This section also highlights likely future developments in the market
- Global Market Size and Growth- Global historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods
- Regional Analysis - Historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values and growth and market share comparison by region
- Market Segmentation- Contains the market values (2016-2031) and analysis for segmentation by type, and by end user
- Regional Market Size and Growth - Regional market size (2021), historic (2016-2021) and forecast (2021-2026) and (2026-2031) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years
- Market Opportunities And Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets
- Conclusions And Recommendations - Includes recommendations for biodegradable plastics providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currency codes used in this report
Scope
Markets Covered:
- 1) By Type: Polylactic Acid (PLA); Polybutylene Adipate Terephthalate (PBAT); Polybutylene Succinate (PBS); PHA (Polyhydroxyalkanoates); Starch Blends; Other Types
- 2) By End User: Packaging; Agriculture; Consumer Goods; Others
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time-series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; biodegradable plastics indicators comparison.
Data segmentations:country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
A selection of companies mentioned in this report includes:
- BASF SE
- Mitsubishi Chemical Holding Corporation
- Kaneka Corporation
- Novamont SpA
- Corbion N.V. (Total Corbion PLA)
Methodology
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