The biodegradable plastics market is gaining significant traction globally due to rising environmental concerns and the need for sustainable alternatives to traditional plastics. With increasing regulations on plastic use, the market presents a unique opportunity for growth over the forecast period of 2024 to 2029. This review provides a comprehensive overview of the biodegradable plastics market, analyzing market size, share, trends, and forecasts segmented by product type, process, application, end-use, and region.
In recent company news, Danimer Scientific has made headlines by collaborating with major brands to develop sustainable packaging solutions. Biopolymers have also garnered attention with innovative technologies, enhancing the mechanical properties of biodegradable plastics.
This product will be delivered within 1-3 business days.
Market Overview
Biodegradable plastics are polymers that decompose naturally in the environment, significantly reducing the environmental impact associated with conventional plastics. The increasing emphasis on reducing plastic waste is driving demand in various sectors, including packaging, consumer goods, and agriculture. According to recent data, the biodegradable plastics market was valued at approximately $4.4 billion in 2023 and is projected to grow at a CAGR of 12.6% from 2024 to 2029, reaching around $8.8 billion by the end of the forecast period.Market Size, Share & Trends Analysis
The key segments influencing the biodegradable plastics market include product type, process, application, and end-use. The following sections provide detailed insights into these segments:By Product Type
- Starch-based Plastics: This segment is one of the dominant forces in the market, accounting for approximately 30% of the total share in 2023. Starch-based plastics are primarily used in products like bags and food packaging.
- Polylactic Acid (PLA): This product type is anticipated to witness significant growth, with a projected CAGR of 15%. Its applications span across packaging and consumer products due to its bio-sourced nature and favorable mechanical properties.
- Polyhydroxyalkanoates (PHA): Expected to capture 12% of the market share, PHAs are primarily used in the medical field and packaging solutions.
- Polybutylene Succinate (PBS): This segment is growing, projected to represent around 10% of the market by 2029, due to its versatility across various applications.
- Others: This includes various biodegradable plastics, expected to constitute 10% of the market by the end of the forecast period.
By Key Players
The competitive landscape of the biodegradable plastics market is characterized by several key players:- NatureWorks LLC
- Total Corbion
- Mitsubishi Chemical Corporation
- Biome Bioplastics
- Kuraray Co., Ltd.
- Teijin Limited
- BASF SE
- Bio-On S.p.A.
- Danimer Scientific, Inc.
- Novamont S.p.A.
- Toray Industries, Inc.
- Carbios S.A.
By Process
The biodegradable plastics market can be segmented based on the processes used for production, including:- Extrusion
- Injection Molding
- Blown Film
- Others
By Application
The applications of biodegradable plastics include:- Packaging: Expected to hold a significant share of 40% in 2023. This segment includes food packaging, bags, and other commercial uses, driven by regulatory pressures to reduce plastic waste.
- Consumer Goods: Account for about 25% of the market, encompassing items such as cutlery, plates, and other disposable products.
- Agriculture: Dominating the sustainable agricultural film segment, projected to grow at a notable rate as the sector seeks effective methods for soil improvement and weed control.
- Others: Including medical applications, expected to hold a 10% market share.
By End-Use
- Retail
- Food & Beverage
- Healthcare
- Agriculture
By Region
The market is also segmented regionally into:- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market News on Policy and Companies
Legislative measures worldwide are increasingly promoting the use of biodegradable plastics. For instance, the European Union's directive on single-use plastic bans encourages manufacturers to shift toward biodegradable alternatives. Furthermore, countries like Canada and the UK are implementing similar regulations to combat plastic waste.In recent company news, Danimer Scientific has made headlines by collaborating with major brands to develop sustainable packaging solutions. Biopolymers have also garnered attention with innovative technologies, enhancing the mechanical properties of biodegradable plastics.
Segment Forecasts 2024 - 2029
The biodegradable plastics market is projected to witness robust growth across all segments from 2024 to 2029. Key forecasts include:- Product Type: PLA is expected to lead with approximately 20% annual growth, while PHA is set to capture a greater share in specialized applications like medical devices.
- Geographical Growth: The Asia-Pacific region will likely emerge as a dominant player, pushing the drives for sustainable products, while Europe maintains a strong regulatory framework.
- Application Trends: The packaging industry will continue to be the largest sector for biodegradable plastics, driven by consumer demand for eco-friendly solutions.
- Key Player Strategies: Major companies are expected to invest in R&D to innovate and improve the performance of biodegradable plastics while securing strategic partnerships to enhance market reach.
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1 Executive SummaryChapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
Chapter 7 Latest Market Dynamics
Chapter 8 Trading Analysis
Chapter 9 Historical and Forecast Biodegradable Plastics Market in North America (2020-2030)
Chapter 10 Historical and Forecast Biodegradable Plastics Market in South America (2020-2030)
Chapter 11 Historical and Forecast Biodegradable Plastics Market in Asia & Pacific (2020-2030)
Chapter 12 Historical and Forecast Biodegradable Plastics Market in Europe (2020-2030)
Chapter 13 Historical and Forecast Biodegradable Plastics Market in MEA (2020-2030)
Chapter 14 Summary For Global Biodegradable Plastics Market (2020-2025)
Chapter 15 Global Biodegradable Plastics Market Forecast (2025-2030)
Chapter 16 Analysis of Global Key Vendors
List of Tables and Figures
Companies Mentioned
- NatureWorks
- Total Corbion
- Mitsubishi Chemical
- Biome Bioplastics
- Kuraray
- Teijin
- BASF
- Bio-On
- Danimer Scientific
- Novamont
- Toray Industries
- Carbios
