BIODEGRADABLE PLASTICS MARKET ANALYSIS

Regional Analysis

Global Biodegradable Plastics Market: Regional Insights

Based on geography, the global Biodegradable Plastics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among regions, Europe held a dominant position in the global Biodegradable Plastics Market in 2023, accounting for 53% market share in terms of revenue, followed by North America, and Asia Pacific. The U.S., Canada, and Mexico are three major countries in North America that are experiencing significant growth in the Biodegradable Plastics Market. This growth is attributed to favorable government regulations and environmental awareness among consumers. The demand for biodegradable plastic cups in restaurants and confectionaries is driving the market demand. However, polylactic acid (PLA)-based cups and plastic bags may last a long time, creating significant waste. Biodegradable plastic products require special industrial facilities for decomposition, and the National Zero Waste Council in Vancouver focuses on developing a circular economy for biodegradable plastics. Canada’s government lacks a biodegradable standard, and municipal programs are reluctant to decompose plastics, leading to landfills. European countries, such as Germany, Italy, France, Spain, and the UK, are major contributors to the development and production of bio plastics. Europe is adopting bio plastics over conventional plastic to transform into a proper waste management region. The European association promotes government and environmental policies regarding sustainability and bio-degradability, which drives the growth of the Biodegradable Plastics Market in Europe. In the Asia-Pacific region, China, Japan, and India are major countries involved in the production and development of bio plastic. China is one of the largest markets for biodegradable plastic due to its abundant bio plastic feedstock. Increased oil prices and climatic conditions encourage government, private companies, and the public to use bio based chemicals products in this region.

• North America: U.S. and Canada
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• LAMEA: Brazil, Argentina, Mexico, and Rest of Latin America, GCC Countries, Israel,  South