According to the latest report by IMARC Group, titled “Biodegradable Plastic Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global biodegradable plastic market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 8% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Biodegradable plastics are plant-based plastics that are produced from petroleum-based sources and renewable raw materials, such as corn, wheat, bamboo, and sugarcane. These products degrade naturally in base compounds by the action of micro-organisms. Some of the widely utilized biodegradable plastics include polybutylene adipate terephthalate (PBAT), polybutylene succinate (PBS), polylactic acid (PLA) and starch blends.
The global market is primarily driven by the rising awareness regarding the hazardous effects of using non-biodegradable plastic products. Additionally, governments of numerous countries are undertaking initiatives to impose bans on the usage of non-biodegradable plastic products due to the rising environmental concerns among the masses. This has provided an impetus to the demand for eco-friendly alternatives, such as biodegradable plastic products, on the global level. Some of the other factors creating a positive outlook for the market include the easy product availability across both the organized and online retail platforms and the widespread popularity of biodegradable plastic packaging in the food and beverages sector.
Biodegradable Plastic Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global biodegradable plastic market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- BASF SE
- Biome Technologies plc
- Bio-on S.p.A.
- Corbion N.V.
- Danimer Scientific
- Eastman Chemical Company
- Mitsubishi Chemical Corporation
- NatureWorks LLC (Cargill Incorporated)
- Novamont S.p.A.
- Plantic Technologies Limited (KURARAY CO. LTD.)
- Toray Industries Inc.
- Total Corbion PLA
Key Market Segmentation:
The report has segmented the global biodegradable plastic market on the basis of type, end use and region.
Breakup by Type:
- Starch-based
- PLA
- PBS
- PBAT
- PHA
- Others
Breakup by End Use:
- Packaging
- Agriculture
- Consumer Goods
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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