Biodegradable Plastic Market was valued at USD 6.24 Billion in 2022 and is projected to reach USD 13.21 Billion by 2030, growing at a CAGR of 9.88% from 2024 to 2030.
The biodegradable plastic market was valued at approximately USD 9.5 billion in 2022, with a compound annual growth rate (CAGR) of 12.5% projected from 2023 to 2030. This rapid growth is driven by increasing environmental concerns and regulatory pressures to reduce plastic waste. The demand for biodegradable plastics is expected to rise significantly in various sectors, including packaging, agriculture, and textiles. The market’s expansion is attributed to the growing awareness of sustainability and the advancement in biodegradable plastic technologies, which offer eco-friendly alternatives to traditional plastics. Key drivers include governmental initiatives, consumer preferences for sustainable products, and innovations in material science.
Opportunity analysis indicates substantial potential in emerging markets, where rapid industrialization and urbanization are contributing to rising plastic waste issues. Asia-Pacific and Latin America are particularly promising regions, presenting opportunities for market penetration and growth. In these regions, the shift towards biodegradable solutions is supported by both local regulatory frameworks and increasing consumer demand for sustainable products. Additionally, advancements in biodegradable plastic production techniques and the development of cost-effective solutions are expected to further drive market growth and create lucrative opportunities for investment and expansion in these emerging markets.
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BASF
Mitsubishi Chemical
Kuraray
Corbion
Metabolix
NatureWorks
Biome Technologies
Bio-On SpA
Meredian Holdings Group
Tianan Biologic Materials
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Biodegradable Plastic Market
Packaging
Textiles
Automotive
Agriculture
Construction
Others
Based on Types the Market is categorized into Below types that held the largest Biodegradable Plastic market share In 2023.
Polylactic Acid (PLA)
Polybutylene Succinate (PBS)
Polyhydroxyalkanoates (PHA)
Cellulose Derivatives
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Biodegradable Plastic Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Biodegradable Plastic Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Biodegradable Plastic Market, By Type
6. Global Biodegradable Plastic Market, By Application
7. Global Biodegradable Plastic Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Biodegradable Plastic Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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