Plant Based Plastic (Green Plastic) Market, By Source of Raw Material (Corn Starch, Sugarcane, Cassava, and Others (Soy, Potato, Algae, etc.), By Type (PLA (Polylactic Acid), PHA (Polyhydroxyalkanoates), Starch-Based Plastics, and Other), By End-use Industry (Packaging, Textile, Automotive & Transport, Electronics & Electricals, Coatings & Adhesives, Agriculture & Horticulture, and Others (Building & Construction, etc.)), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Sep 2024

Code : CMI7368

Pages :136

Formats :

Excel and PDF

Industry : Polymers and Resins

Market Concentration and Competitive Landscape

Plant Based Plastic (Green Plastic) Market Concentration By Players

Close-monitor your Competitor's Move, Request sample copy

Increasing concern about plastic waste and pollution

The issue of plastic pollution is gaining global attention due to dramatic visuals of its disastrous effects. Mountains of non-degradable waste choking landfills and plastic debris littering oceans have sparked outrage. For instance, In March 2022, the United Nations Environment Assembly (UNEA) passed a historic resolution to develop an international legally binding agreement to address plastic pollution. This resolution was adopted by 175 nations, demonstrating the widespread recognition of plastic pollution as a critical environmental issue that requires coordinated global action.

People now recognize synthetic polymers as a serious threat, especially single-use plastics that find immense applications across sectors. The ongoing pandemic has further amplified plastic usage but also plastic garbage in public places. Proper waste management remains a challenge in most developing nations. Growing distances between source and disposal also impact the efficiency of plastic recycling processes. These factors have underlined the unsuitability of conventional plastics in a linear "take-make-waste" model.

Governments and global bodies are working to curb marine plastic pollution through prohibitions, levies, and international co-operation. Recent bans target ubiquitous disposable plastic items like bags, straws, cutlery and Styrofoam cups. Industry is under pressure to develop innovative solutions and invest in bio-alternatives. Companies realize end consumers want brands that demonstrate concern for the planet through their product choices and operations.

Plant-based plastics have comparable functionality but ensure plastic waste stays out of sensitive ecosystems. Their compostable nature is reassuring from a post-consumer perspective. The urgency to address the plastic pollution pandemic and transition to a circular economy presents fertile ground for natural and biodegradable alternatives like plant-based plastics.

Key Players Insights