Dublin, Dec. 03, 2024 (GLOBE NEWSWIRE) -- The "Biodegradable Plastics - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Biodegradable Plastics was estimated at US$19.5 Billion in 2023 and is projected to reach US$76.8 Billion by 2030, growing at a CAGR of 21.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth of the biodegradable plastics market is driven by a convergence of factors, including heightened environmental awareness, supportive regulatory measures, and advancements in biopolymer technology. As concerns about plastic pollution intensify, governments and environmental bodies around the world are implementing regulations aimed at reducing single-use plastics, spurring demand for biodegradable alternatives in sectors like packaging, food service, and retail. Businesses, facing both regulatory pressure and rising consumer demand for sustainable options, are increasingly turning to biodegradable plastics to replace traditional materials and support environmentally responsible practices.
This trend is reinforced by corporate social responsibility initiatives and green certification standards, which encourage companies to adopt sustainable practices and respond to the expectations of eco-conscious consumers. Technological advancements are also propelling market growth, as innovations in the production and utilization of biopolymers make biodegradable plastics more cost-effective and efficient. For example, research into second-generation feedstocks, such as agricultural byproducts and algae, is helping to reduce reliance on food-based resources like corn and sugarcane, improving the sustainability of biodegradable plastics and alleviating potential competition with food production.
As composting infrastructure expands and waste management systems adapt, the practical benefits of biodegradable plastics become increasingly accessible, fostering broader adoption across industries. These factors collectively underscore the market's rapid growth trajectory, establishing biodegradable plastics as a key solution in addressing the global plastic waste crisis and paving the way for a future that prioritizes circular, sustainable materials.
What Challenges Are Associated with Biodegradable Plastics?
Despite the advantages of biodegradable plastics, their production and adoption face significant challenges, particularly in terms of cost, disposal infrastructure, and consumer awareness. The cost of producing biodegradable plastics is generally higher than that of traditional plastics due to the expense of raw materials and the more complex manufacturing processes involved. This cost disparity can make it challenging for biodegradable options to compete with conventional plastics, particularly in industries where margins are tight and pricing is sensitive.
Additionally, while biodegradable plastics are designed to break down more quickly than conventional plastics, they typically require specific environmental conditions - such as controlled temperature, humidity, and microbial presence found in industrial composting facilities - to fully decompose. Unfortunately, the availability of such composting facilities is limited in many regions, resulting in biodegradable plastics often ending up in landfills, where they may not degrade as intended. Consumer understanding also presents a barrier, as many people mistakenly believe that biodegradable plastics will decompose in any environment.
This misconception can lead to improper disposal, where biodegradable plastics are discarded as litter or mixed with recyclables, complicating waste management processes. Addressing these challenges will require investment in infrastructure for composting and disposal, standardized labeling to educate consumers on proper disposal practices, and ongoing research to make biodegradable plastics more affordable and capable of decomposing in a wider range of environments. These steps are crucial for maximizing the environmental benefits of biodegradable plastics and ensuring they fulfill their potential in reducing plastic pollution and promoting sustainability.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Biodegradable Plastics Market such as API S.P.A, BASF SE, Bio-Fed, Biome Bioplastics, Bio-On and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Scope of the Study
- Type (Starch Blends, PLA, PBS, PBAT, PHA, Other Types); End-Use (Packaging, Consumer Goods, Textile, Agriculture & Horticulture, Other End-Uses)
- World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 103 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $19.5 Billion |
| Forecasted Market Value (USD) by 2030 | $76.8 Billion |
| Compound Annual Growth Rate | 21.6% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Biodegradable Plastics - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Environmental Awareness Drives Growth in Biodegradable Plastics Market
- Here`s How Advances in Biopolymer Technology Enhance Performance and Degradability
- Growing Demand for Eco-Friendly Packaging Expands Applications of Biodegradable Plastics
- Rising Focus on Reducing Plastic Waste Supports Transition to Biodegradable Solutions
- Increasing Use of Biodegradable Plastics in Agriculture for Mulch Films and Plant Pots
- Here`s How Consumer Preference for Green Products Boosts Demand for Biodegradable Packaging
- Focus on Reducing Carbon Footprint Drives Adoption in Food and Beverage Packaging
- Advancements in Compostable and Marine-Degradable Plastics Expand Market Opportunities
- Growing Use of Biodegradable Plastics in Single-Use Items Supports Compliance with Bans on Traditional Plastics
- Here`s How Innovations in Feedstock, Such as Corn and Sugarcane, Enhance Sustainability
- Increasing Applications in Medical and Pharmaceutical Packaging Drive Market Expansion
FOCUS ON SELECT PLAYERS:Some of the 62 companies featured in this Global Biodegradable Plastics Market report include
- API S.P.A
- BASF SE
- Bio-Fed
- Biome Bioplastics
- Bio-On
- Carbiolice
- Clondalkin
- Danimer Scientific
- Fkur Kunststoff GmbH
- Green Dot Bioplastics
For more information about this report visit https://www.researchandmarkets.com/r/f6umvg
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