Biodegradable Plastics Market by Type (PLA, Starch Blends, PHA, Biodegradable Polyesters), End Use Industry (Packaging, Consumer Goods, Textile, Agriculture & Horticulture), and Region( APAC, Europe, NA, South America, MEA) – Global Forecast 2024 – 2029

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OVERVIEW

The Biodegradable Plastics Market is currently valued at USD 3.2 billion in 2024 and will be growing at a CAGR of 21.3% over the forecast period to reach an estimated USD 20.9 billion in revenue in 2029. The biodegradable plastics market is experiencing significant growth driven by increasing environmental concerns and stringent regulations aimed at reducing plastic pollution. Biodegradable plastics, derived from renewable resources or traditional petrochemicals, offer a sustainable alternative to conventional plastics by breaking down naturally into harmless compounds over time. This market’s expansion is fueled by rising consumer awareness regarding the detrimental effects of non-biodegradable plastics on ecosystems and human health. Key players in the industry are investing heavily in research and development to enhance product performance and expand application areas across various sectors such as packaging, agriculture, and consumer goods. With a promising trajectory, the biodegradable plastics market is poised to play a crucial role in the global transition towards a more sustainable and eco-friendly future.

First and foremost is the increasing global concern over plastic pollution and its environmental impact. Governments, organizations, and consumers are becoming more aware of the need to reduce plastic waste and are actively seeking sustainable alternatives. Stringent regulations and policies aimed at curbing plastic pollution are also contributing to market growth, pushing industries to adopt biodegradable plastics in their products and packaging. Additionally, growing consumer preference for eco-friendly and sustainable products is creating demand for biodegradable plastics across various sectors, including packaging, agriculture, and consumer goods. Moreover, advancements in technology and innovations in biodegradable materials are improving the performance and versatility of biodegradable plastics, further driving market expansion. With these drivers in play, the biodegradable plastics market is poised for significant growth in the coming years.

Market Dynamics

Drivers:

First and foremost is the increasing global concern over plastic pollution and its environmental impact. Governments, organizations, and consumers are becoming more aware of the need to reduce plastic waste and are actively seeking sustainable alternatives. Stringent regulations and policies aimed at curbing plastic pollution are also contributing to market growth, pushing industries to adopt biodegradable plastics in their products and packaging. Additionally, growing consumer preference for eco-friendly and sustainable products is creating demand for biodegradable plastics across various sectors, including packaging, agriculture, and consumer goods. Moreover, advancements in technology and innovations in biodegradable materials are improving the performance and versatility of biodegradable plastics, further driving market expansion. With these drivers in play, the biodegradable plastics market is poised for significant growth in the coming years.

Key Opportunities :

The biodegradable plastics market presents several key opportunities for growth and innovation. One significant opportunity lies in expanding the range of applications for biodegradable plastics across various industries, including packaging, agriculture, textiles, and consumer goods. As consumer awareness of environmental issues continues to rise, there is a growing demand for sustainable alternatives to conventional plastics. This demand opens doors for biodegradable plastics to penetrate new markets and replace non-biodegradable materials. Additionally, advancements in biodegradable material technology offer opportunities to improve the performance, durability, and cost-effectiveness of biodegradable plastics, making them more competitive with traditional plastics. Furthermore, collaboration among stakeholders, including governments, industries, and research institutions, can foster the development of supportive policies, infrastructure, and investment frameworks to accelerate the adoption of biodegradable plastics globally. By capitalizing on these opportunities, the biodegradable plastics market can unlock its full potential and contribute to a more sustainable future.

Restraints :

The higher cost of biodegradable plastics compared to traditional plastics, which can limit their widespread adoption, particularly in price-sensitive markets. Additionally, the performance and properties of biodegradable plastics, such as durability and shelf-life, may not always match those of conventional plastics, posing obstacles to certain applications and industries. Another restraint is the lack of standardized regulations and certification processes for biodegradable plastics, leading to confusion among consumers and businesses regarding their environmental claims and effectiveness. Moreover, the infrastructure for collecting, sorting, and composting biodegradable plastics is often underdeveloped or unavailable in many regions, hindering their proper disposal and end-of-life management. Addressing these restraints will require collaborative efforts from stakeholders across the value chain to overcome technical, economic, and regulatory barriers and unlock the full potential of biodegradable plastics as a sustainable alternative to traditional plastics.

Regional Information:

• In North America, the biodegradable plastics market is witnessing steady growth driven by increasing environmental awareness and stringent regulations aimed at reducing plastic pollution. Consumers in the region are increasingly inclined towards sustainable alternatives, prompting industries to invest in biodegradable plastics for packaging, food service ware, and other applications. The presence of established players and robust research and development activities further contribute to market expansion.

• In Europe, the biodegradable plastics market is experiencing significant traction, fueled by stringent regulations and ambitious sustainability targets set by the European Union. The region’s strong emphasis on environmental protection and circular economy principles has led to widespread adoption of biodegradable plastics across various industries, including packaging, agriculture, and automotive. Government incentives and support for sustainable practices also play a crucial role in driving market growth in Europe.

• In the Asia Pacific region, the biodegradable plastics market is poised for rapid expansion due to growing environmental concerns, urbanization, and changing consumer preferences. Countries like China, India, and Japan are witnessing increasing demand for biodegradable plastics, driven by government initiatives to combat plastic pollution and promote sustainable development. Additionally, the region’s booming e-commerce sector and rising disposable incomes are fueling demand for eco-friendly packaging solutions, providing ample opportunities for market players to capitalize on.

Recent Developments:

• TotalEnergies Corbion established cooperation with Xiamen Changsu Industrial Pte Ltd. in May 2023 to grow the PLA industry. The companies will concentrate on advertising and research and development of innovative BOPLA (biaxially oriented polylactic acid) technology and services.

• TotalEnergies Corbion and Bluepha Co. Ltd struck an agreement in May 2023 to accelerate the deployment of PLA/PHA-based systems in the industry of China. The partnership aims to enhance the production of diverse high-performance biopolymer solutions by combining Luminy Polylactic Acid (PLA) technology from the former with Bluepha Polyhydroxyalkanoates (PHA).

Key Market  Players:

NatureWorks LLC, BASF SE, Biome Bioplastics Ltd., Corbion NV, Novamont S.p.A., Mitsubishi Chemical Corporation, FKuR Kunststoff GmbH, Danimer Scientific, Total Corbion PLA, and Plantic Technologies Limited.

Frequently Asked Questions

1) What is the projected market value of the Biodegradable Plastics Market?

– The Biodegradable Plastics Market is expected to reach an estimated value of USD 20.9 billion in revenue by 2029. 

2) What is the estimated CAGR of the Biodegradable Plastics Market over the 2024 to 2029 forecast period?

– The CAGR is estimated to be 21.3% for the Biodegradable Plastics Market over the 2024 to 2029.

3) Who are the key players in the Biodegradable Plastics Market?

– NatureWorks LLC, BASF SE, Biome Bioplastics Ltd., Corbion NV, Novamont S.p.A., Mitsubishi Chemical Corporation, FKuR Kunststoff GmbH, Danimer Scientific, Total Corbion PLA, and Plantic Technologies Limited.

4) What are the drivers for the Biodegradable Plastics Market?

– The global concern over plastic pollution is driving increased awareness and adoption of sustainable alternatives. Stringent regulations and consumer preference for eco-friendly products are driving demand for biodegradable plastics in various sectors. Advancements in technology and biodegradable materials are also driving market expansion, indicating a significant growth potential for the biodegradable plastics market.

5) What are the restraints and challenges in the Biodegradable Plastics Market?

– Biodegradable plastics face challenges due to their higher cost, performance differences, lack of standardized regulations, and underdeveloped infrastructure. These factors limit their widespread adoption, especially in price-sensitive markets. Collaborative efforts across the value chain are needed to overcome technical, economic, and regulatory barriers and unlock the full potential of biodegradable plastics as a sustainable alternative.

6) What are the key applications and offerings of the Biodegradable Plastics Market?

– Biodegradable plastics find key applications across various sectors, notably in packaging where they offer sustainable alternatives for food packaging, disposable cutlery, and shopping bags. In agriculture, biodegradable mulch films aid in weed control and soil moisture retention while degrading harmlessly after use. The cosmetics and personal care industry utilizes biodegradable plastics for packaging, reducing environmental impact. Furthermore, biodegradable plastics are increasingly utilized in 3D printing, creating environmentally friendly prototypes and products.

7) Which region is expected to drive the market for the forecast period?

– North America is expected to have the highest market growth from 2024 to 2029 

 Why Choose Us?

Insights into Market Trends: Global Market Studies reports provide valuable insights into market trends, including market size, segmentation, growth drivers, and market dynamics. This information helps clients make strategic decisions, such as product development, market positioning, and marketing strategies.

Competitor Analysis: Our reports provide detailed information about competitors, including their market share, product offerings, pricing, and competitive strategies. This data can be used to inform competitive strategies and to identify opportunities for growth and expansion.

Industry Forecasts: Our reports provide industry forecasts, which will inform your business strategies, such as investment decisions, production planning, and workforce planning. These forecasts can help you to prepare for future trends and to take advantage of growth opportunities.

Access to Industry Experts: Our solutions include contributions from industry experts, including analysts, consultants, and subject matter experts. This access to expert insights can be valuable for you to understand the market.

Time and Cost Savings: Our team at Global Market Studies can save you time and reduce the cost of conducting market research by providing comprehensive and up-to-date information in a single report, avoiding the need for additional market research efforts.

METHODOLOGY

At Global Market Studies, extensive research is done to create reports which have in-depth insights across all aspects of the market such as drivers, opportunities, challenges, restraints, market trends, regional insights, market segmentation, latest developments, key players for the forecast period. Multiple methods are used to derive both qualitative and quantitative information for the report:Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 1

PRIMARY RESEARCH

Through surveys and interviews, primary research is sourced mainly from experts from the core and related industry. It includes distributors, manufacturers, Directors, C-Level Executives and Managers, alliances certification organisations across various segments of the markets value chain. Both the supply-side and demand-side is interviewed.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 2

SECONDARY RESEARCH

Our sources of secondary research include Annual Reports, Journals, Press Releases, Company Websites, Paid Databases and our own Data Repository. They also include, investor presentations, certifies publications and articles by authorised regulatory bodies, trade directories and databases.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 3

MARKET SIZE ESTIMATION

After extensive secondary and primary research, both the Bottom-up and Top-down methods are used to analyse the data. In the Bottom-up Approach, Company revenues across multiple segments are gathered to derive the percentage split per market segment. From this the Segment wise market size is derived to give the Total Market Size. In the Top-down Approach the reverse method is used where the Total Market Size is first derived from primary sources and is split into Market Segment, Regional Split and so on.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 4Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 5

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 6

DATA TRIANGULATION:

All statistics are collected through extensive secondary research and verified by interviews conducted with supply-side and demand-side in the primary research to ensure that both primary and secondary data percentages, statistics and findings corroborate.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 7

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OVERVIEW

The Biodegradable Plastics Market is currently valued at USD 3.2 billion in 2024 and will be growing at a CAGR of 21.3% over the forecast period to reach an estimated USD 20.9 billion in revenue in 2029. The biodegradable plastics market is experiencing significant growth driven by increasing environmental concerns and stringent regulations aimed at reducing plastic pollution. Biodegradable plastics, derived from renewable resources or traditional petrochemicals, offer a sustainable alternative to conventional plastics by breaking down naturally into harmless compounds over time. This market’s expansion is fueled by rising consumer awareness regarding the detrimental effects of non-biodegradable plastics on ecosystems and human health. Key players in the industry are investing heavily in research and development to enhance product performance and expand application areas across various sectors such as packaging, agriculture, and consumer goods. With a promising trajectory, the biodegradable plastics market is poised to play a crucial role in the global transition towards a more sustainable and eco-friendly future.

First and foremost is the increasing global concern over plastic pollution and its environmental impact. Governments, organizations, and consumers are becoming more aware of the need to reduce plastic waste and are actively seeking sustainable alternatives. Stringent regulations and policies aimed at curbing plastic pollution are also contributing to market growth, pushing industries to adopt biodegradable plastics in their products and packaging. Additionally, growing consumer preference for eco-friendly and sustainable products is creating demand for biodegradable plastics across various sectors, including packaging, agriculture, and consumer goods. Moreover, advancements in technology and innovations in biodegradable materials are improving the performance and versatility of biodegradable plastics, further driving market expansion. With these drivers in play, the biodegradable plastics market is poised for significant growth in the coming years.

Market Dynamics

Drivers:

First and foremost is the increasing global concern over plastic pollution and its environmental impact. Governments, organizations, and consumers are becoming more aware of the need to reduce plastic waste and are actively seeking sustainable alternatives. Stringent regulations and policies aimed at curbing plastic pollution are also contributing to market growth, pushing industries to adopt biodegradable plastics in their products and packaging. Additionally, growing consumer preference for eco-friendly and sustainable products is creating demand for biodegradable plastics across various sectors, including packaging, agriculture, and consumer goods. Moreover, advancements in technology and innovations in biodegradable materials are improving the performance and versatility of biodegradable plastics, further driving market expansion. With these drivers in play, the biodegradable plastics market is poised for significant growth in the coming years.

Key Opportunities :

The biodegradable plastics market presents several key opportunities for growth and innovation. One significant opportunity lies in expanding the range of applications for biodegradable plastics across various industries, including packaging, agriculture, textiles, and consumer goods. As consumer awareness of environmental issues continues to rise, there is a growing demand for sustainable alternatives to conventional plastics. This demand opens doors for biodegradable plastics to penetrate new markets and replace non-biodegradable materials. Additionally, advancements in biodegradable material technology offer opportunities to improve the performance, durability, and cost-effectiveness of biodegradable plastics, making them more competitive with traditional plastics. Furthermore, collaboration among stakeholders, including governments, industries, and research institutions, can foster the development of supportive policies, infrastructure, and investment frameworks to accelerate the adoption of biodegradable plastics globally. By capitalizing on these opportunities, the biodegradable plastics market can unlock its full potential and contribute to a more sustainable future.

Restraints :

The higher cost of biodegradable plastics compared to traditional plastics, which can limit their widespread adoption, particularly in price-sensitive markets. Additionally, the performance and properties of biodegradable plastics, such as durability and shelf-life, may not always match those of conventional plastics, posing obstacles to certain applications and industries. Another restraint is the lack of standardized regulations and certification processes for biodegradable plastics, leading to confusion among consumers and businesses regarding their environmental claims and effectiveness. Moreover, the infrastructure for collecting, sorting, and composting biodegradable plastics is often underdeveloped or unavailable in many regions, hindering their proper disposal and end-of-life management. Addressing these restraints will require collaborative efforts from stakeholders across the value chain to overcome technical, economic, and regulatory barriers and unlock the full potential of biodegradable plastics as a sustainable alternative to traditional plastics.

Regional Information:

• In North America, the biodegradable plastics market is witnessing steady growth driven by increasing environmental awareness and stringent regulations aimed at reducing plastic pollution. Consumers in the region are increasingly inclined towards sustainable alternatives, prompting industries to invest in biodegradable plastics for packaging, food service ware, and other applications. The presence of established players and robust research and development activities further contribute to market expansion.

• In Europe, the biodegradable plastics market is experiencing significant traction, fueled by stringent regulations and ambitious sustainability targets set by the European Union. The region’s strong emphasis on environmental protection and circular economy principles has led to widespread adoption of biodegradable plastics across various industries, including packaging, agriculture, and automotive. Government incentives and support for sustainable practices also play a crucial role in driving market growth in Europe.

• In the Asia Pacific region, the biodegradable plastics market is poised for rapid expansion due to growing environmental concerns, urbanization, and changing consumer preferences. Countries like China, India, and Japan are witnessing increasing demand for biodegradable plastics, driven by government initiatives to combat plastic pollution and promote sustainable development. Additionally, the region’s booming e-commerce sector and rising disposable incomes are fueling demand for eco-friendly packaging solutions, providing ample opportunities for market players to capitalize on.

Recent Developments:

• TotalEnergies Corbion established cooperation with Xiamen Changsu Industrial Pte Ltd. in May 2023 to grow the PLA industry. The companies will concentrate on advertising and research and development of innovative BOPLA (biaxially oriented polylactic acid) technology and services.

• TotalEnergies Corbion and Bluepha Co. Ltd struck an agreement in May 2023 to accelerate the deployment of PLA/PHA-based systems in the industry of China. The partnership aims to enhance the production of diverse high-performance biopolymer solutions by combining Luminy Polylactic Acid (PLA) technology from the former with Bluepha Polyhydroxyalkanoates (PHA).

Key Market  Players:

NatureWorks LLC, BASF SE, Biome Bioplastics Ltd., Corbion NV, Novamont S.p.A., Mitsubishi Chemical Corporation, FKuR Kunststoff GmbH, Danimer Scientific, Total Corbion PLA, and Plantic Technologies Limited.

Frequently Asked Questions

1) What is the projected market value of the Biodegradable Plastics Market?

– The Biodegradable Plastics Market is expected to reach an estimated value of USD 20.9 billion in revenue by 2029. 

2) What is the estimated CAGR of the Biodegradable Plastics Market over the 2024 to 2029 forecast period?

– The CAGR is estimated to be 21.3% for the Biodegradable Plastics Market over the 2024 to 2029.

3) Who are the key players in the Biodegradable Plastics Market?

– NatureWorks LLC, BASF SE, Biome Bioplastics Ltd., Corbion NV, Novamont S.p.A., Mitsubishi Chemical Corporation, FKuR Kunststoff GmbH, Danimer Scientific, Total Corbion PLA, and Plantic Technologies Limited.

4) What are the drivers for the Biodegradable Plastics Market?

– The global concern over plastic pollution is driving increased awareness and adoption of sustainable alternatives. Stringent regulations and consumer preference for eco-friendly products are driving demand for biodegradable plastics in various sectors. Advancements in technology and biodegradable materials are also driving market expansion, indicating a significant growth potential for the biodegradable plastics market.

5) What are the restraints and challenges in the Biodegradable Plastics Market?

– Biodegradable plastics face challenges due to their higher cost, performance differences, lack of standardized regulations, and underdeveloped infrastructure. These factors limit their widespread adoption, especially in price-sensitive markets. Collaborative efforts across the value chain are needed to overcome technical, economic, and regulatory barriers and unlock the full potential of biodegradable plastics as a sustainable alternative.

6) What are the key applications and offerings of the Biodegradable Plastics Market?

– Biodegradable plastics find key applications across various sectors, notably in packaging where they offer sustainable alternatives for food packaging, disposable cutlery, and shopping bags. In agriculture, biodegradable mulch films aid in weed control and soil moisture retention while degrading harmlessly after use. The cosmetics and personal care industry utilizes biodegradable plastics for packaging, reducing environmental impact. Furthermore, biodegradable plastics are increasingly utilized in 3D printing, creating environmentally friendly prototypes and products.

7) Which region is expected to drive the market for the forecast period?

– North America is expected to have the highest market growth from 2024 to 2029 

 Why Choose Us?

Insights into Market Trends: Global Market Studies reports provide valuable insights into market trends, including market size, segmentation, growth drivers, and market dynamics. This information helps clients make strategic decisions, such as product development, market positioning, and marketing strategies.

Competitor Analysis: Our reports provide detailed information about competitors, including their market share, product offerings, pricing, and competitive strategies. This data can be used to inform competitive strategies and to identify opportunities for growth and expansion.

Industry Forecasts: Our reports provide industry forecasts, which will inform your business strategies, such as investment decisions, production planning, and workforce planning. These forecasts can help you to prepare for future trends and to take advantage of growth opportunities.

Access to Industry Experts: Our solutions include contributions from industry experts, including analysts, consultants, and subject matter experts. This access to expert insights can be valuable for you to understand the market.

Time and Cost Savings: Our team at Global Market Studies can save you time and reduce the cost of conducting market research by providing comprehensive and up-to-date information in a single report, avoiding the need for additional market research efforts.

METHODOLOGY

At Global Market Studies, extensive research is done to create reports which have in-depth insights across all aspects of the market such as drivers, opportunities, challenges, restraints, market trends, regional insights, market segmentation, latest developments, key players for the forecast period. Multiple methods are used to derive both qualitative and quantitative information for the report:Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 1

PRIMARY RESEARCH

Through surveys and interviews, primary research is sourced mainly from experts from the core and related industry. It includes distributors, manufacturers, Directors, C-Level Executives and Managers, alliances certification organisations across various segments of the markets value chain. Both the supply-side and demand-side is interviewed.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 2

SECONDARY RESEARCH

Our sources of secondary research include Annual Reports, Journals, Press Releases, Company Websites, Paid Databases and our own Data Repository. They also include, investor presentations, certifies publications and articles by authorised regulatory bodies, trade directories and databases.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 3

MARKET SIZE ESTIMATION

After extensive secondary and primary research, both the Bottom-up and Top-down methods are used to analyse the data. In the Bottom-up Approach, Company revenues across multiple segments are gathered to derive the percentage split per market segment. From this the Segment wise market size is derived to give the Total Market Size. In the Top-down Approach the reverse method is used where the Total Market Size is first derived from primary sources and is split into Market Segment, Regional Split and so on.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 4Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 5

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 6

DATA TRIANGULATION:

All statistics are collected through extensive secondary research and verified by interviews conducted with supply-side and demand-side in the primary research to ensure that both primary and secondary data percentages, statistics and findings corroborate.

Silicon battery market by capacity (0–3,000 mah, 3,000–10,000 mah, 10,000–60,000 mah, and 60,000 mah & above), application (consumer electronics, automotive, aviation, energy, and medical devices), and region - 2023 to 2028 7

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