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Biodegradable Plastic Market Size, Industry Analysis By Type (PLA, Starch Blends, PHA, Biodegradable Polyesters, And Others), By Application (Packaging, Agriculture, Textile, Consumer Goods, And Others) & Region - Forecast

  • PUBLISHED ON
  • 2024-02-08
  • NO OF PAGES
  • 291
  • CATEGORY
  • Chemicals & Materials

Global Biodegradable Plastic Market Analysis by Type, Application, Region and segments forecast till 2033

Market Overview

The global biodegradable plastic market is presently valued at USD 4,600 million and is poised to amplify at a CAGR of 9.7% over 2023-2033, thereby accumulating USD 10,000 million by end of the assessment timeframe.

Report Scope

Report Attributes

Description

Market Size in 2022

USD 4,600 Million

Market Forecast in 2033

USD 10,000 Million

CAGR % 2023-2033

9.7%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

Type, Application

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Key Companies

Cargill Incorporated, PTT MCC Biochem Co., Ltd., Biome Technologies plc, Plantic Technologies Limited, BASF SE, Total Corbion PLA, Synbra Technology BV, Futerro, Novamont SpA, NatureWorks LLC, Eastman Chemical Company, Trineso, Danimer Scientific, and FKuR Kunststoff GmbH.

 

Biodegradable plastics are referred to as the type of plastics that can be degraded into biomass, water, and carbon dioxide by the action of microorganisms. They are predominantly produced using petrochemicals, microbes, and renewable raw materials, or sometimes by combining them all. These plastics are sustainable in nature since they emit lesser amount of greenhouse gases as compared to tradition plastic forms. The rising instances of environmental pollution, stringent government regulations to decrease the utilization of single-use plastics, and growing R&D activities in the field are primarily augmenting the outlook of this industry vertical.

Furthermore, increasing environmental consciousness of the masses, widespread industrialization, and willingness of consumers to pay for biodegradable products are creating lucrative opportunities for the marketplace to prosper. Also, rising adoption of sustainable plastics in the e-commerce sector is positively swaying the dynamics of this industry vertical. On the contrary, high costs pertaining to these plastics is hindering the remuneration scope of this market sphere.

With rising instances of ecological exploitation resulting in climatic change and other issues, the masses have become consciousness regarding the ill impact of single use plastics. This in turn in increased the adoption of biodegradable plastics in the end use sectors since they are eco-friendly and sustainable in nature.

There has been a rapid emergence of advanced applications aimed at the production of biodegradable plastic. Manufacturers across the globe are also engaging in R&D activities to promote the use of eco-friendly packaging materials in industries such as e-commerce, automotive, healthcare, and consumer electronics, among others. These factors are fueling the progression of the overall industry.

Type Insights

The PLA segment is poised to amass notable gains over the stipulated timeline owing to the affordability of these products. The PLA (polylactic acid) segment is one of the fastest-growing segments in the biodegradable plastics market. PLA is a bio-based plastic made from renewable resources such as corn starch, tapioca roots, or sugarcane. It has gained popularity in recent years due to its biodegradability, compostability, and non-toxic nature.

Application Insights

The Packaging segment is expected to generate significant market share of more than 20% over the estimated duration ascribing to the rising use of biodegradable plastics for packaging purposes across industries such as food & beverage, crockery, and pharmaceuticals, among others.

Regional Insights

North America, Middle East & Africa, Europe, Asia Pacific, and Latin America are the primary regions constituting the geographical ambit of this business sphere. Among these, Asia Pacific is slated to capture a substantial market share owing to widespread urbanization, rising environmental cognizance, and abundance of raw materials required for the production of biodegradable plastics.

Competitive Analysis

The prominent players characterizing the competitive terrain are Cargill Incorporated, PTT MCC Biochem Co., Ltd., Biome Technologies plc, Plantic Technologies Limited, BASF SE, Total Corbion PLA, Synbra Technology BV, Futerro, Novamont SpA, NatureWorks LLC, Eastman Chemical Company, Trineso, Danimer Scientific, and FKuR Kunststoff GmbH.

·         Notably, in April 2021, NatureWorks LLC inked a partnership deal with IMA Coffee to enhance the reach for compostable k-cup in North America.

·         In July 2021, BASF announced that it had launched a new line of biodegradable plastic products under the brand name ecovio. The products are made from renewable raw materials and are designed to help reduce the environmental impact of plastic waste.

·         In March 2021, Danimer Scientific, a US-based manufacturer of biodegradable plastics, announced that it had entered into a merger agreement with a special purpose acquisition company (SPAC) called Live Oak Acquisition Corp. The merger was expected to provide Danimer Scientific with additional capital to expand its production capacity and commercialize its products.

Global Biodegradable Plastic Market- Segmental Analysis

By Type:

• PLA

• Starch Blends

• PHA

• Biodegradable Polyesters

• Others

By Application:

• Packaging

• Agriculture

• Textile

• Consumer Goods

• Others

Why to buy this Report?

The report provides quantitative and qualitative aspect for Global Biodegradable Plastic Market in terms of value and volume, along with supporting market trends, challenges, restraints.

The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.

The report provides competitive analysis of around 30-50 companies operated in Global Biodegradable Plastic Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:

•             Business Model

•             Production Capacity, Revenue, Sales, Gross Margin

•             Key Business Strategy

•             SWOT Analysis

In terms of competitive landscape, the report provides distinctive factors that would help the Card Type in taking a key decision within the business:

•             Company Share Analysis from 2020-2022

•             Company Analysis by Revenue and Sales

•             Company Production Capacity, Gross Margin

•             Company Share Analysis by Card Type/Card Type

•             Company Share Analysis by Product/Specification

1.    Global Biodegradable Plastic Market Introduction and Market Overview

1.1.  Objectives of the Study

1.2.  Biodegradable Plastic Market  Definition & Description

1.3.  Global Biodegradable Plastic Market Scope and Market Estimation

1.3.1.     Global Biodegradable Plastic Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023-2033)

1.3.2.     Global Biodegradable Plastic Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033

1.4.  Market Segmentation

1.4.1.     Type of Global Biodegradable Plastic Market

1.4.2.     Application of Global Biodegradable Plastic Market

1.4.3.     Region of Global Biodegradable Plastic Market

2.    Executive Summary

2.1.  Global Biodegradable Plastic Market Industry Trends under COVID-19 Outbreak

2.1.1.     Global COVID-19 Status Overview

2.1.2.     Influence of COVID-19 Outbreak on Global Biodegradable Plastic Market Industry Development

2.2.  Market Dynamics

2.2.1.     Drivers

2.2.2.     Limitations

2.2.3.     Opportunities

2.2.4.     Impact Analysis of Drivers and Restraints

2.3.  Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.  Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.  Porter’s Five Forces Analysis

2.5.1.     Bargaining Power of Suppliers

2.5.2.     Bargaining Power of Buyers

2.5.3.     Threat of Substitutes

2.5.4.     Threat of New Entrants

2.5.5.     Competitive Rivalry

2.6.  Value Chain / Ecosystem Analysis

2.7.  PEST Analysis

2.8.  Russia-Ukraine War Impacts Analysis

2.9.  Economic Downturn Analysis

2.10. Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

3.    Global Biodegradable Plastic Market  Estimates & Historical Trend Analysis (2020 - 2022)

4.    Global Biodegradable Plastic Market  Estimates & Forecast Trend Analysis, By Type

4.1.  Global Biodegradable Plastic Market Revenue (US$ Mn) Estimates and Forecasts, By Type, 2023 to 2033

4.1.1.     PLA

4.1.2.     Starch Blends

4.1.3.     PHA

4.1.4.     Biodegradable Polyesters

4.1.5.     Others

5.    Global Biodegradable Plastic Market  Estimates & Forecast Trend Analysis, By Application

5.1.  Global Biodegradable Plastic Market Revenue (US$ Mn) Estimates and Forecasts, By Application, 2023 to 2033

5.1.1.     Packaging

5.1.2.     Agriculture

5.1.3.     Textile

5.1.4.     Consumer Goods

5.1.5.     Others

6.    Global Biodegradable Plastic Market  Estimates & Forecast Trend Analysis, By Region

6.1.  Global Biodegradable Plastic Market Revenue (US$ Mn) Estimates and Forecasts, By Region, 2023 to 2033

6.1.1. North America

6.1.2. Europe

6.1.3. Asia Pacific

6.1.4. Middle East & Africa

6.1.5. South America

7.    North America  Biodegradable Plastic Market: Estimates & Forecast Trend Analysis

7.1.  North America Biodegradable Plastic Market Assessments & Key Findings

7.1.1.     North America Biodegradable Plastic Market Introduction

7.1.2.     North America Biodegradable Plastic Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

7.1.2.1.  By Type

7.1.2.2.  By Application

7.1.2.3.  By Country

7.1.2.3.1.   The U.S.

7.1.2.3.2.   Canada

7.1.2.3.3.   Mexico

8.    Europe  Biodegradable Plastic Market: Estimates & Forecast Trend Analysis

8.1.  Europe Biodegradable Plastic Market Assessments & Key Findings

8.1.1.    Europe Biodegradable Plastic Market Introduction

8.1.2.    Europe Biodegradable Plastic Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

8.1.2.1.  By Type

8.1.2.2.  By Application

8.1.2.3.     By Country

8.1.2.3.1.   Germany

8.1.2.3.2.   U.K.

8.1.2.3.3.   France

8.1.2.3.4.   Italy

8.1.2.3.5.   Spain

8.1.2.3.6.   Russia

8.1.2.3.7.   Rest of Europe

9.    Asia Pacific  Biodegradable Plastic Market: Estimates & Forecast Trend Analysis

9.1.  Asia Pacific Market Assessments & Key Findings

9.1.1.     Asia Pacific Biodegradable Plastic Market Introduction

9.1.2.     Asia Pacific Biodegradable Plastic Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

9.1.2.1.     By Type

9.1.2.2.     By Application

9.1.2.3.     By Country

9.1.2.3.1.   China

9.1.2.3.2.   Japan

9.1.2.3.3.   India

9.1.2.3.4.   Australia

9.1.2.3.5.   South Korea

9.1.2.3.6.   ASEAN

9.1.2.3.7.   Rest of Asia Pacific

10.  Middle East & Africa  Biodegradable Plastic Market: Estimates & Forecast Trend Analysis

10.1. Middle East & Africa Market Assessments & Key Findings

10.1.1.  Middle East & Africa  Biodegradable Plastic Market Introduction

10.1.2.  Middle East & Africa   Biodegradable Plastic Market Size Estimates and Forecast (US$ Million)  (2023 to 2033)

10.1.2.1.  By Type

10.1.2.2.  By Application

10.1.2.3.  By Country

10.1.2.3.1.  U.A.E.

10.1.2.3.2.  Saudi Arabia

10.1.2.3.3.  Egypt

10.1.2.3.4.  South Africa

10.1.2.3.5.  Rest of Middle East & Africa

11.  South America  Biodegradable Plastic Market: Estimates & Forecast Trend Analysis

11.1. South America Market Assessments & Key Findings

11.1.1.  South America Biodegradable Plastic Market Introduction

11.1.2.  South America Biodegradable Plastic Market Size Estimates and Forecast (US$ Million) (2023 to 2033)

11.1.2.1.  By Type

11.1.2.2.  By Application

11.1.2.3.  By Country

11.1.2.3.1.  Brazil

11.1.2.3.2.  Argentina

11.1.2.3.3.  Colombia

11.1.2.3.4.  Rest of South America

12.  Competition Landscape

12.1. Global Biodegradable Plastic Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

12.2. Global Biodegradable Plastic Market Concentration & Company Market Shares (%) Analysis, 2022

13.  Company Profiles

13.1.    Cargill Incorporated

13.1.1.    Company Overview & Key Stats

13.1.2.    Financial Performance & KPIs

13.1.3.    Product Portfolio

13.1.4.    Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

13.2.    PTT MCC Biochem Co.

13.3.    Biome Technologies plc

13.4.    Plantic Technologies Limited

13.5.    BASF SE

13.6.    Total Corbion PLA

13.7.    Synbra Technology BV

13.8.    Futerro

13.9.    Novamont SpA

13.10. NatureWorks LLC

13.11. Eastman Chemical Company

13.12. Trineso

13.13. Danimer Scientific

13.14. FKuR Kunststoff GmbH.

13.15. Others**

14.  Research Methodology

14.1. External Transportations / Databases

14.2. Internal Proprietary Database

14.3. Primary Research

14.4. Secondary Research

14.5. Assumptions

14.6. Limitations

14.7. Report FAQs

15.  Research Findings & Conclusion

 

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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

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Market Estimates and Forecast

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Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

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