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Europe Bio-Degradable Plastic Market 2024-2032
According to IMARC Group's report titled "Europe Bio-Degradable Plastic Market Report by Product Type (PBAT, Bio-Degradable Polyesters, PBS, PHA, PLA, Starch Based, and Others), End Use Industry (Food, Beverage, Pharmaceuticals, Personal Care and Home Care, and Others), and Country 2024-2032", the report presents a thorough review featuring the market share, growth, share, trends, and research of the industry.
How Big is the Europe Bio-Degradable Plastic Industry ?
The Europe bio-degradable plastic market size was valued at USD 1.3 Billion in 2023 and is projected to grow to USD 3.4 Billion by 2032, with an expected compound annual growth rate (CAGR) of 10.8% from 2024 to 2032.
Europe Bio-Degradable Plastic Market Trends:
In Europe, the expanding understanding of society about environment pollution through traditional plastic is the main reason driving the market. In addition, the increasing government policies to curb plastic waste are also contributing to the market dynamics. On top of that, there is a growing investment for the development of new biodegradable materials which is improving the products. Besides, the rising packaging industry, looking for bioplastics based solutions, is pushing the market growth even further.
Consumers’ increasing inclination towards green products is in turn, a key factor that is driving the growth as enhances manufacturers’ transitions to biodegradable products. Furthermore, the increasing utilization of biodegradable plastics in agriculture sector especially in mulch films and plant pots are growing the scope of the market. In addition, the integration of key players in joint ventures and sustainability initiatives is encouraging the use of biodegradable materials.
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Europe Bio-Degradable Plastic Market Scope and Growth Analysis:
The scope of the market has grown in leaps and bounds with the enactment of laws and regulations geared toward the reduction of plastic use and the cultivation of environmentally friendly farming techniques. Also, the increasing collaborations between producers of biodegradable plastics and essential industries are extending the market base as well as enabling new uses. It is evaluated from the market analysis that the introduction of biodegradable products in other new sectors apart from packaging making inroads into such sectors like electronics and textiles is opening more avenues for sales.
The increasing investments towards waste management and recycling technologies on the other hand are supporting the circular economy and developmental projects in waste which resonate well with the sustainability wishes of the consumers. The increasing attention to how well a product works and how long it lasts is also encouraging the development and fitting of biodegradable materials to replace plastics. In addition to that, the increased provision of grants and benefits to companies incorporating biodegradable materials tend to as well boost market access. As per the focal analysis, the expanding concern of the consumer in acquiring multifunctional and eco-friendly packaging materials explains the rapid growth of biodegradable plastics in such assorted usages.
By the IMARC Group, the Top Competitive Landscapes Operating in the Industry:
API SpA
BASF SE
Biome Bioplastics (Biome Technologies plc)
FKuR Kunstatoff GmbH
Kingfa Sci. & Tech. Co., Ltd,
Mitsubishi Chemical Corporation
Natureworks LLC (Cargill Incorporated)
Novamont S.p.A, Plantic (Kuraray Co., Ltd)
Toray Industries Inc.
Europe Bio-Degradable Plastic Research Report and Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest Europe bio-degradable plastic market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
Breakup by Product Type:
PBAT
Bio-Degradable Polyesters
PBS
PHA
PLA
Starch Based
Others
Breakup by End Use Industry:
Food
Beverage
Pharmaceuticals
Personal Care and Home Care
Others
Breakup by Country:
Germany
France
United Kingdom
Italy
Spain
Others
Competitor Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Ask Analyst For Customization: https://www.imarcgroup.com/request?type=report&id=3968&flag=C
Other key areas covered in the report:
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Strategic Recommendations
Market Dynamics
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Top Winning Strategies
Recent Industry News
Key Technological Trends & Development
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.
IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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