Biodegradable plastic is a type of plastic that can be broken down naturally by bacteria or fungi into simpler compounds. It can be used in various applications, such as packaging materials, disposable cutlery, agricultural films, and medical devices. Biodegradable plastics reduce plastic waste and environmental pollution by breaking down into harmless organic matter. However, they require specific conditions like proper temperature, moisture, and microbial activity to effectively biodegrade. Biodegradable plastics are more environmentally friendly as they do not accumulate in landfills or marine ecosystems.

Market Dynamics:

The global biodegradable plastic market is driven by eco-friendly nature and rise in consumer adoption of biodegradable plastics and high demand of biodegradable plastic in food packaging application. The market is also witnessing growth on account of the heavy inflow of investments into R&D activities. Moreover, Favorable Government Policies towards bio plastic is again driving growth of the global biodegradable plastic market. People are increasingly opting for CSR activities and decreasing dependence on petroleum resource. Furthermore, rise in popularity of biodegradable mulch film and Polylactic Acid acting as alternative to traditional fossil is further projected to augment market growth.

On the other hand, high cost of biodegradable plastic is expected to hamper the market growth.

Key features of the study:

• This report provides in-depth analysis of the global biodegradable plastic market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global biodegradable plastic market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include are Basf Se, Corbion N.V., Danimer Scientific, Dow Inc., Eastman Chemical Company, Kuraray Co., Ltd., and Mitsubishi Chemical Holdings, Novamont S.P.A, Ptt Global Chemical Company Limited.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global biodegradable plastic market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global biodegradable plastic market

Detailed Segmentation:

• Global Biodegradable Plastics Market, By Type
  • PLA (polylactic acid)
  • PBAT (polybutylene adipate terephthalate)
  • PBS (polybutylene succinate)
  • PHA (Polyhydroxyalkanoates)
  • Starch Blends
  • Others
• Global Biodegradable Plastics Market, By Application
  • Packaging
  • Agriculture
  • Consumer Durable
  • Textile
  • Others
• Global Biodegradable Plastics Market, By Region
  • North America
  • Europe
  • Asia Pacific
  • LAMEA
• Company Profiles
  • Basf Se, Corbion N.V.
  • Danimer Scientific
  • Dow Inc., Eastman Chemical Company
  • Kuraray Co., Ltd.
  • Mitsubishi Chemical Holdings
  • Novamont S.P.A,
  • Ptt Global Chemical Company Limited.