Global Biodegradable Plastics Market Trends

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Global Biodegradable Plastics Market Size, Share, and Trends Analysis Report Trends

  • Chemical and Materials
  • Upcoming Report
  • Oct 2024
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

“Increasing Adoption of Plant-Based Materials”

The biodegradable plastics market is experiencing significant growth, driven by increasing environmental awareness and stringent regulations on plastic waste. A notable trend in the biodegradable plastics market is the increasing adoption of plant-based materials, particularly polylactic acid (PLA), which is derived from renewable resources such as corn starch and sugarcane. As consumers become more environmentally conscious, the demand for sustainable packaging solutions has surged. Companies such as NatureWorks, a leading producer of PLA, have reported significant growth in their production capacity to meet this rising demand. In addition, various industries, including food and beverage, are increasingly using biodegradable plastics for packaging to align with sustainability goals. For instance, many brands now offer biodegradable plastic containers for food and cutlery, reflecting a broader commitment to environmentally friendly practices. Such trend is reshaping the packaging landscape, fostering innovation, and driving the expansion of the biodegradable plastics market.

Frequently Asked Questions

The market is segmented based on Segmentation, By Product Type (Polylactic Acid (PLA), Starch Blends, Biodegradable Polyesters, Polyhydroxyalkanoates (PHA), and Others), Application (Packaging and Bags, Consumer Goods, Agriculture and Horticulture, Textile, and Others) - Industry Trends and Forecast to 2031 .
The Global Biodegradable Plastics Market size was valued at USD 20.84 USD Billion in 2023.
The Global Biodegradable Plastics Market is projected to grow at a CAGR of 19.11% during the forecast period of 2024 to 2031.
The major players operating in the market include BASF SE, NatureWorks LLC, TT Global Chemical Public Company Limited, Total Energies, Novamont S.p.a., Fkur, Dupont, Biome Bioplastics, Mitsubishi Chemical Holding Corporation, Toray Industries , Dow, Plantic, TianAn Biologic Materials Co. , Danimer Scientific, Evonik Industries AG, Eastman Chemical Company, DAIKIN, and SOLVAY,.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.