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Biodegradable Plastics Market

Biodegradable Plastics Market, Size and Segment By type (PLA, Starch Blends, PHA, Biodegradable Polyesters, Others) By end-use industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture), by Regions and Global Forecast 2022-2028

Report Id: SNS/C&M/2366 | July 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Biodegradable Plastics Market Size was valued at USD 7.8 billion in 2021, and is expected to reach USD 37.5 billion by 2028, and grow at a CAGR of 25.0% over the forecast period 2022-2028.

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 Graph

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 20 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 shipments 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 percent 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.

Key Players:

Fkur Kunstsoff, BASF, Danimer Scientific, Novamont, Biome Bioplastics, Toray Industries, NatureWorks, Plantic Technologies, Mitsubishi Chemical Holding Corporation , Total Corbion, and other players.

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 Segment Pie Chart

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

Biodegradable Plastics Market Report Scope
Report Attributes Details
Market Size in 2021 US$ 7.8 Billion
Market Size by 2028 US$ 37.5 Billion
CAGR CAGR of 25.0% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
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, and other players.
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 (FAQ) :

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 7.8 billion in 2021, and expected to reach USD 37.5 billion by 2028, and grow at a CAGR of 25.0% over the forecast period 2022-2028.

 


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

 

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

 

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Secondary Research

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