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Biodegradable Plastics Market Report Scope & Overview:

The Biodegradable Plastics Market Size was valued at USD 9.75 billion in 2022, and is expected to reach USD 58.11 billion by 2030, and grow at a CAGR of 25.0% over the forecast period 2023-2030.

As environmental concerns about plastic consumption increase, interest in biodegradable plastic substitutes is growing (plastics contain hazardous toxins that affect plants, animals, and people). Floating plastic waste, which can withstand hundreds of years in water, can be used by invasive organisms as a route of transportation. The market is growing as a result of the aforementioned factor.

Biodegradable Plastics Market Revenue Analysis

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Tough regulations implemented by many governments and federal agencies with the aim of decreasing plastic waste and promoting the use of biodegradable polymers in packaging are increasing demand for this business. The requirements for eco-friendly packaging are getting stricter. In order to comply with the requirements, many FMCG companies are being compelled to use biodegradable packaging, which is promoting the market's growth.

Market Dynamics:

Drivers:

  • Changing Consumer Preference Toward Eco-Friendly Plastic Products

  • Growing Use for Compostable Bag Applications and Packaging

  • Government Focus on Policies and Regulations for Green Procurement

Restraints:

  • Biodegradable plastics cost more than traditional plastics, on average

Opportunity:

  • Creating New Applications

  • High Potential in APAC's Emerging Nations

Challenge:

  • Performance Challenge

  • Oil price fluctuations cause the demand for biodegradable plastics to fluctuate.

Impact of COVID-19:

Numerous industries, including consumer goods, packaging, textiles, agriculture, and horticulture, use biodegradable polymers. However, the Covid-19 had an impact on these industries all over the world. From 2019 to 2020 the industry's expansion has been constrained by logistical challenges, a labour shortage, a lack of materials, and other issues. Additionally, the global impact has caused a precipitous drop in demand for packaging, which is decried as unnecessary. While the demand for e-commerce Logistics that fall under the category of necessary packaging increased significantly. The package converters are facing a new set of issues as a result of these changes. These factors will also cause the impact of the Covid-19 epidemic on the packaging sector to be uneven. The epidemic has interfered with businesses in the consumer goods industry's regular manufacturing.

According to the Institute for Supply Management Research, supply chain interruptions caused roughly 75% of organisations to lower their revenue targets. The consumer sector is experiencing a mixed economy as some industries, such frozen foods and domestic cleaning, have seen an increase in consumer demand while others have seen sales dip and significant drops in foot traffic in stores. These businesses have to adapt to the shift in consumer demand toward e-commerce. The whole consumer products sector has thus been compelled into the digital age.

Market Segment:

By Type:

  • PLA

    • Starch Blends

    • PHA

  • Biodegradable Polyesters

    • PCL

    • PBAT

    • PBS

  • Others

    • Regenrative Cellulose

    • Cellulose Derivative

By End-Use Industry:

  • Packaging

    • Rigid Packaging

    • Flexible Packaging

  • Consumer Goods

    • Electrical Appliances

    • Domestic Appliances

    • Others

  • Textiles

    • Medical & Healthcare Textile

    • Personal care, clothes and other textiles

  • Agriculture & Horticulture

    • Tapes & Mulch Films

    • Others

Biodegradable Plastics Market Segmentation Analysis

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Regional Analysis:

Four primary regions have been selected to represent the biodegradable plastics market trends: North America, Europe, North America, and the rest of the world (RoW). The industry is projected to grow rapidly and surpass its full potential in the APAC region. This is primarily due to the simple accessibility of raw elements that are beneficial and are utilized to produce biodegradable polymers. Additionally, the expansion of the market for goods in the APAC area depends on public knowledge of the usage of plastics as an affordable substitute for traditional plastics.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Key Players:

The Key Players are Fkur Kunstsoff, BASF, Danimer Scientific, Novamont, Biome Bioplastics, Toray Industries, NatureWorks, Plantic Technologies, Mitsubishi Chemical Holding Corporation , Total Corbion & Other Players.

Novamont-Company Financial Analysis

Biodegradable Plastics Market Report Scope:

Report Attributes Details
Market Size in 2022 US$ 9.75 Billion
Market Size by 2030 US$ 58.11 Billion
CAGR CAGR of 25.0% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By type (PLA, Starch Blends, PHA, Biodegradable Polyesters, Others)
• By end-use industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Fkur Kunstsoff, BASF, Danimer Scientific, Novamont, Biome Bioplastics, Toray Industries, NatureWorks, Plantic Technologies, Mitsubishi Chemical Holding Corporation , Total Corbion
DRIVERS • Changing Consumer Preference Toward Eco-Friendly Plastic Products
• Growing Use for Compostable Bag Applications and Packaging
• Government Focus on Policies and Regulations for Green Procurement
Restraints • Biodegradable plastics cost more than traditional plastics, on average

Frequently Asked Questions

Ans: Key stakeholders considered in the study:
Raw material vendors
distributors/traders/wholesalers/suppliers
regulatory authorities, including government agencies and NGO
commercial research & development (r&d) institutions
importers and exporters
government organizations, research organizations, and consulting firms
trade/industrial associations
end-use industries are the stake holder of this report

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: Performance Challenge and Oil price fluctuations cause the demand for biodegradable plastics to fluctuate are the challenges faced by the Biodegradable Plastics Market.

Ans: Changing Consumer Preference Toward Eco-Friendly Plastic Products, Growing Use for Compostable Bag Applications and Packaging and Government Focus on Policies and Regulations for Green Procurement are the drivers for Biodegradable Plastics Market.

Ans: Biodegradable Plastics Market Size was valued at USD 9.75 billion in 2022, and is expected to reach USD 58.11 billion by 2030, and grow at a CAGR of 25.0% over the forecast period 2023-2030.

 

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

8. Biodegradable Plastics Market Segment, By type

8.1 PLA

8.2 Starch Blends

8.3 PHA

8.4 Biodegradable Polyesters

8.4.1 PCL

8.4.2 PBAT

8.4.3 PBS

8.5 Others

8.5.1 Regenrative Cellulose

8.5.2 Cellulose Derivative

9. Biodegradable Plastics Market Segment, By end-use industry

9.1 Packaging

9.1.1 Rigid Packaging

9.1.2 Flexible Packaging

9.2 Consumer Goods

9.2.1 Electrical Appliances

9.2.2 Domestic Appliances

9.2.3 Others

9.4 Textiles

9.4.1 Medical & Healthcare Textile

9.4.2 Personal care, clothes and other textiles

9.5 Agriculture & Horticulture

9.5.1 Tapes & Mulch Films

9.5.2 Others

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

11. Company Profile

11.1 Fkur Kunstsoff

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 BASF

11.3 Danimer Scientific  

11.4 Novamont

11.5 Biome Bioplastics

11.6 Toray Industries

11.7 NatureWorks

11.8 Plantic Technologies

11.9 Mitsubishi Chemical Holding Corporation

11.10 Total Corbion

12.Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share Analysis

12.3 Recent Developments

13. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

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Data Bank Validation

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