Biobased Biodegradable Plastics Market Size is set to reach a remarkable value of USD 6.1 Billion by 2024, and it's not stopping there. With a steady upward trajectory, the market is anticipated to soar to an impressive USD 13.24 Billion by 2033, showcasing a dynamic growth pattern with a robust CAGR of 9.7% throughout the forecast period from 2024 to 2033
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biodegradable plastics have a lower environmental impact because they are made
from organic or renewable resources like plants and can decompose naturally
over time. Because these plastics are made of organic materials, bacteria can
break them down into more basic, naturally occurring substances. Biobased
biodegradable plastics provide a sustainable substitute for typical plastics,
which last for centuries. They reduce pollution and help create a more
sustainable future because they decompose harmlessly back into the environment.
Biobased Biodegradable Plastics Market is primarily driven by rising
environmental consciousness worldwide and the need to reduce plastic pollution.
This industry is growing because of government policies that encourage
eco-friendly alternatives and customer demand for sustainable products. The
increase is also attributed to businesses pursuing corporate social
responsibility programs and lowering their carbon footprint. Technology
breakthroughs also spur innovation, improving the viability and quality of
biobased biodegradable plastics and making them more affordable and adaptable
for a range of applications, which eventually drives the market ahead.
Market Size in 2024
Market Forecast in 2033
CAGR % 2024-2033
Consumption, company share, company heatmap, company production capacity,
growth factors and more
by Type of Material, by Application, by
End-Use and By Region
regulations and policies promoting the use of biodegradable and renewable
materials have played a significant role in driving the adoption of biobased
Many companies are incorporating sustainability into their corporate strategies. This includes adopting biobased biodegradable plastics in packaging and products to align with consumer expectations and demonstrate environmental responsibility.
Ongoing advancements in technology have led to the development of biobased biodegradable plastics with improved performance characteristics. Innovations in manufacturing processes and formulations enhance the properties and applicability of these plastics.
North America, Europe, APAC, South
America and Middle East and Africa
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
Biobased Biodegradable Plastics Industry: Dynamics
Growing awareness and concern about environmental
pollution - Growing
public awareness of environmental degradation, especially that caused by
plastic waste, is driving the Biobased Biodegradable Plastics Market. Concerns
over non-biodegradable plastics contaminating ecosystems and oceans have led to
a move toward sustainable alternatives. desire for biodegradable polymers is
fueled by industry, government, and consumer desire for environmentally
friendly solutions. This knowledge encourages legislative backing, which
encourages the use of biobased substitutes. Consequently, businesses are
spending more money on R&D, which promotes innovation and scalability in
biodegradable materials. The industry's expansion is a result of coordinated
efforts to reduce plastic pollution, highlighting the critical role that
biobased, biodegradable plastics play in attaining sustainable practices.
Ongoing research and development - The Biobased Biodegradable Plastics
Market is driven mostly by ongoing research and development (R&D). The
performance constraints of biodegradable polymers are addressed by ongoing
innovation, which improves material qualities. R&D initiatives are
concentrated on enhancing durability, broadening the scope of applications, and
streamlining production procedures. These developments draw collaborations and
investments by supporting the legitimacy and practicality of biobased
substitutes. Additionally, research and development (R&D) increases
cost-effectiveness, which boosts the competitiveness of these green materials
over conventional plastics. The results of further research and development
ultimately spur market expansion by expanding the applications and capacities
of biobased biodegradable plastics, which in turn attracts a wider range of
businesses looking for sustainable solutions.
Higher production costs compared to traditional
plastics - Market
expansion is significantly hampered by the higher production costs of biobased
biodegradable plastics. The cost of the renewable raw materials used to make
bioplastics is typically higher than that of the materials based on fossil
fuels that are used to make conventional plastics. Production costs are
increased further by the need for specific technology and techniques to convert
these bio-based components into biodegradable polymers. As a result, industries
used to the cheaper cost of conventional plastics find it harder to justify the
additional manufacturing costs of biodegradable alternatives. Despite the
environmental benefits of biobased, biodegradable polymers, this pricing
discrepancy prevents wider acceptance and market penetration.
Biobased Biodegradable Plastics Segmentation
Market- By Application Analysis
By Application, the Biobased Biodegradable Plastics Market is Categories into packaging, agriculture, consumer goods, automotive, textiles, and more. The packaging segment accounts for the largest share of around 61% in 2022.
is one of the primary sectors utilizing biodegradable polymers. It is present
in both rigid and flexible packaging. Because these polymers are increasingly
being used in food packaging products including boxes, wraps, cups, and plates
in place of conventional plastics, the market for biodegradable plastic is
The following segments are part of an in-depth
analysis of the global Biobased Biodegradable Plastics Market:
Type of Material
PLA (polylactic acid)
food and beverage
Biobased Biodegradable Plastics Industry: Regional
Europe Market Forecast
Europe dominate the Biobased Biodegradable Plastics Market with the highest revenue generating market with share of more than 47%. Europe's stringent laws against the use of single-use plastics, government programs to support bioplastics, and emphasis on the principles of the circular economy are what make the continent so successful. Germany makes a substantial contribution because of its cutting-edge technology and large investments in the study and creation of bioplastics.
North America Market Statistics
America is the second-largest market for Biobased Biodegradable Plastics. North
America is driven by strict laws that promote environmentally friendly
products, more consumer awareness, and a will to cut down on plastic waste. Leading
the way in packaging industry sustainability is the United States, with its
thriving manufacturing sector.
Asia Pacific Market Forecasts
Pacific is expected to be the fastest-growing market for Biobased Biodegradable
Plastics during the forecast period. Rapid industrialization, population
growth, rising consumer environmental consciousness, and government programs
supporting sustainable alternatives all contribute to the Asia-Pacific region's
expansion. China is the leader in production capacity, whereas Japan is
concentrated on developing new technologies for biodegradable plastics.
Key Market Players
Biobased Biodegradable Plastics Market is dominated by a few large companies,
Biome Technologies plc
PTT MCC Biochem Co., Ltd.
FKuR Kunststoff GmbH
Total Corbion PLA
Synbra Technology BV
Eastman Chemical Company
June 2023, The
Biodegradation and Microplastics Center of Excellence at BASF's Michigan
location has officially opened. The center will assist local clients in
achieving their sustainability and circularity goals. Understanding the
biodegradation of innovative chemicals, gaining new insights into
microplastics, and comprehending the disintegration performance of compostable
materials will be the main topics of focus.
December 2022, Futerro
declared its intention to build Europe's first vertically integrated biorefinery
in Normandy, France, to produce and recycle PLA. The biorefinery will have a
unit for the molecular recycling of PLA, a unit for converting agricultural raw
materials into lactic acid, and a unit for converting PLA.
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Biobased Biodegradable Plastics Market was valued at USD 4.23 Billion in 2022.
Biobased Biodegradable Plastics Market size will increase at approximate CAGR of 9.7% during the forecasted period.
Major companies operating within the Biobased Biodegradable Plastics Market Biome Technologies plc, PTT MCC Biochem Co., Ltd., Plantic Technologies Limited, BASF SE, FKuR Kunststoff GmbH, Total Corbion PLA, Cargill Incorporated, Synbra Technology BV, Futerro, Novamont SpA, Danimer Scientific, NatureWorks LLC, Eastman Chemical Company, Trineso and Other.
Europe dominates the market with an active share of 47%.
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