Biodegradable Plastics Market Size, Growth, Trends Report 2028

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Biodegradable Plastics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (PLA, PHA, Starch Blends, PBS, PBAT, and Others) and End User (Packaging and Bags, Agriculture and Horticulture, Consumer Goods, and Others)

Publication Month: Mar 2023 | Report Code: TIPRE00003197 | No. of Pages: 188 | Category: Chemicals and Materials | Status: Published

The biodegradable plastics market size is expected to grow from US$ 7,331.11 million in 2022 to US$ 20,840.29 million by 2028; it is estimated to record a CAGR of 19.0% from 2022 to 2028.

Biodegradable plastics can undergo biological and physical decomposition, decomposing into biomass, carbon dioxide (CO2), and water. This plastic decomposes naturally in the environment. Decomposition is mainly carried out by the microorganism present in the environment that breaks down the structure of biodegradable plastic. It is manufactured using microorganisms, renewable raw materials, and petrochemicals. Biodegradable plastic is eco-friendly and has no toxicity as it is produced using renewable raw materials. This type of plastic is mainly produced using natural plant material, including corn oil, orange peels, starch, and plants.

In 2022, Europe held the largest share of the global biodegradable plastics market. The Europe biodegradable plastics market is segmented into Germany, France, Italy, the UK, Russia, and the rest of Europe. The rising adoption of biodegradable plastics owing to their eco-friendly nature drives the market in the region. Biodegradable plastics have the potential to reduce carbon dioxide emissions by 30–70%, as compared to conventional synthetic plastic. On the other hand, it does not adversely affect the environment, as the material has no toxicity and degrades quickly. Consumers prefer bioplastic packaging over synthetic plastic packaging since it can be decomposed with food. Benefits such as high biodegradation, zero toxicity, environmentally friendly, and direct substitute to conventional plastic bolster the use of biodegradable plastic, which boosts the Europe biodegradable plastics market growth.

Strategic Insights

Report Coverage - Biodegradable Plastics Market
Report CoverageDetails
Market Size Value inUS$ 7,331.11 million in 2022
Market Size Value byUS$ 20,840.29 million by 2028
Growth rateCAGR of 19.0% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages188
No. of Tables56
No. of Charts & Figures73
Historical data availableYes
Segments coveredType, and End User
Free Sample Copy Available

Impact of COVID-19 Pandemic on Biodegradable Plastics Market

Before the emergence of COVID-19 outbreak, the biodegradable plastics market was growing due to their increasing use in food & beverage, textile, consumer goods, and agriculture & horticulture industries. However, COVID-19 pandemic hampered the growth of the chemicals & materials sector, thus hindering the growth of the biodegradable plastics market. Implementation of measures to combat the spread of SARS-CoV-2 negatively impacted the growth of various industries. Manufacturers experienced delays and increased costs of imported raw materials due to the long-term shutdown of many factories. The damage caused by the impacts of the pandemic on the end-use industries hampered the demand for biodegradable plastics.

The global marketplace is recovering from the losses caused due to the COVID-19 pandemic, as governments of different countries have announced relaxation in the restrictions. Manufacturers are permitted to operate at total capacity, which helps them to overcome the supply demand gap. This is expected to positively impact the biodegradable plastics market growth in the coming years.

Global Biodegradable Plastics Market Breakdown – by Region

Global Biodegradable Plastics Market Breakdown – by Region

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Market Insights

Increasing Use in Packaging and Bags Drives Biodegradable Plastics Market Growth

Packaging is one of the fastest-growing industries. Most of the packaging is done with the help of conventional plastics. However, the increasing use of plastics severely threatens the environment. Manufacturers and consumers have shifted their preference toward recyclable and eco-friendly materials with the advent of digital media. Also, the US FDA imposes stringent regulations on recycling plastic materials used for food contact. All these factors are expected to offer opportunities for the biodegradable plastics market in the coming years. Furthermore, the surge in demand for environment-friendly food packaging is shifting the focus of crucial plastic manufacturers and packaging companies to biodegradable plastics. This factor is also bolstering the market growth.

Type-Based Insights

Based on type, the global biodegradable plastics market is segmented into PLA, PHA, starch blends, PBS, PBAT, and others. The starch blends segment is expected to account for the largest market share during the forecast period. The starch blend polymers are biodegradable polymeric materials composed of cellulosic-based biomaterials that enzymes and microorganisms can degrade. The combination of starch and polyolefin gives a single material carrying the biodegradation properties of starch with the thermal, mechanical, and barrier properties of polyolefin. Common starches used are rice starch, sago, and tapioca starch, and polypropylene and polyolefin are also used. Cellulose has received increasing attention compared to other polymers owing to its consumption by many microorganisms and increasing demand in the application of textiles. Starch is a naturally occurring polymer found in plants such as corn, rice, and potatoes as water-insoluble granules. Starch has been receiving growing attention as raw material for the production of films due to the lack of availability of conventional film-forming resins. The low permeability of starch films has favored its application in food packaging. In the granular state, starch blends are used as a component in synthetic polymer blends and as a filling agent for polyolefin. The starches can be modified using grafting with vinyl monomers such as methyl acrylate.

Biodegradable Plastics Market, by End User – 2022 and 2028

Biodegradable Plastics Market, by End User – 2022 and 2028

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API SpA.; BASF S.E.; FKuR Kunststoff GmbH; Green Dot Bioplastics; Novamont S.p.A.; Kingfa Sci. & Tech. Co., Ltd.; NatureWorks LLC.; Mitsubishi Chemical Corporation; Plantic Technologies Limited; and Total Corbion PLA are a few key players operating in the global biodegradable plastics market. Market players focus on providing high-quality products to fulfill customer demand. They also focus on strategies such as research and development investments, new product launches, and production capacity expansion.

Report Spotlights

  • Progressive industry trends in the biodegradable plastics market to help players develop effective long-term strategies.
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the biodegradable plastics market from 2020 to 2028
  • Estimation of global demand for biodegradable plastics
  • Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
  • Recent developments to understand the competitive market scenario
  • Market trends and outlook, as well as factors driving and restraining the growth of the biodegradable plastics market.
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • The biodegradable plastics market size at various nodes
  • Detailed overview and segmentation of the market, as well as the biodegradable plastics industry dynamics
  • The biodegradable plastics market size in various regions with promising growth opportunities

Global Biodegradable Plastics Market

The biodegradable plastics market, based on type, is segmented into PLA, PHA, starch blends, PBS, PBAT, and others. Based on end users, the biodegradable plastics market is segmented into packaging and bags, agriculture and horticulture, consumer goods, and others.

Company Profiles

  • API SpA.
  • BASF S.E.
  • FKuR Kunststoff GmbH
  • Green Dot Bioplastics
  • Novamont S.p.A.
  • Kingfa Sci. & Tech. Co., Ltd.
  • NatureWorks LLC.
  • Mitsubishi Chemical Corporation
  • Plantic Technologies Limited
  • Total Corbion PLABASF SE

Frequently Asked Questions

The major players operating in the global biodegradable plastics market are BASF SE; Novamont SpA; NatureWorks LLC; Mitsubishi Chemical Corporation; Total Corbion PLA; amongst others.
The utilization of biodegradable plastics in biomedical applications, is expected to provide lucrative growth opportunities to the global biodegradable plastics market during the forecast period.
Based on the type, the starch blends segment accounted for the largest revenue share. Starch has been receiving growing attention as raw material for the production of films due to the lack of the availability of the conventional film-forming resins. Therefore, this factor is expected to boost the starch blends’ segment, leading to largest revenue share.
Europe biodegradable plastics market is expected to surge as strict government legislations are limiting the utilization of customary plastics. Therefore, several FMCG companies are adopting biodegradable packaging so to conform to the standards, which in turn, is propelling the growth of this market. Therefore, Europe accounts for the largest share of the global biodegradable plastics market.
Based on end-user, consumer goods is the fastest-growing segment. The utilization of biodegradable plastics in consumer goods on a large scale globally due to high tensile strength, transparency, and other mechanical properties, is driving the segment’s growth.
Growing awareness among customers about adverse effects of conventional plastics, and supportive government policies for eco-friendly products and biodegradable plastics are some of the key driving factors for the biodegradable plastics market.

The List of Companies - Biodegradable Plastics Market

  1. BASF SE
  2. Novamont SpA
  3. NatureWorks LLC
  4. Mitsubishi Chemical Corporation
  5. Total Corbion PLA
  6. Plantic Technologies Limited
  7. Kingfa Sci. & Tech. Co., Ltd
  8. Green Dot Bioplastics
  9. FKuR Kunststoff GmbH
  10. API SpA
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global biodegradable plastics market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global biodegradable plastics market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the biodegradable plastics market as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
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