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Global Biodegradable plastic Market to reach USD 9 billion by the end of 2029.

Global Biodegradable plastic Market Size study & Forecast, By Product (Starch Based, PLA, PHA, PBAT, PBS), By Application (Packaging, Consumer Goods, Agriculture) and Regional Analysis, 2022-2029

Product Code: CMAM-38170063
Publish Date: 15-05-2023
Page: 200

Global Biodegradable plastic Market is valued approximately USD 4 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 9.6% over the forecast period 2022-2029. Biodegradable plastic refers to a type of plastic that is designed to break down naturally in the environment. Unlike traditional plastic, which can take hundreds or even thousands of years to decompose, biodegradable plastic is made from materials that can be broken down by bacteria, fungi, and other natural organisms. The biodegradable plastic market is influenced by several factors, including consumer demand, government regulations, technological advancements, and sustainability initiatives. However, Biodegradable plastics can be more expensive to produce than traditional plastics, which can make them less attractive to some manufacturers and consumers. Until production costs come down, biodegradable plastics may remain a niche market.

Governments around the world have implemented various policies and initiatives aimed at promoting the adoption of biodegradable plastics. The European Union has set a target to ensure that all plastic packaging used in the EU is reusable or recyclable by 2030. The EU has also introduced regulations requiring certain types of plastic products to be biodegradable or compostable. Similarly, several states in the US have implemented bans or restrictions on single-use plastics, and some have introduced initiatives to promote the use of biodegradable or compostable alternatives. In addition, the US Environmental Protection Agency has launched a Sustainable Materials Management Program that aims to reduce waste and promote sustainable practices, including the use of biodegradable plastics. Thus, growing government support for the adoption of biobased packaging material may accelerate the market expansion.

The key regions considered for the Global Biodegradable plastic Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe was the largest regional market for biodegradable plastics due to growing awareness regarding plastic waste, combined with the European Union’s prohibition on single-use plastics, is expected to boost the regional market throughout the forecast period. On the other side, Asia Pacific is predicted to be the fastest-growing market. Rising disposable income and improved living standards in developing countries such as China and India are expected to boost the region’s market.

Major market player included in this report are:
Cargill Incorporated
PTT MCC Biochem Co., Ltd.
Biome Technologies plc
Plantic Technologies Limited
Total Corbion PLA
Synbra Technology BV
Novamont SpA
NatureWorks LLC

Recent Developments in the Market:
Ø IKEA biodegradable packaging: IKEA announced in 2020 that it would be switching to biodegradable packaging for all its products, including furniture and home goods, by 2030.
Ø L’Oreal biodegradable shampoo bottle: L’Oreal launched a new biodegradable shampoo bottle in 2021, made from a plant-based material called Paptic, which is made from wood pulp.
Ø Adidas Futurecraft Loop: Adidas launched the Futurecraft Loop in 2021, a running shoe made entirely from biodegradable materials, including a biodegradable TPU (thermoplastic polyurethane) midsole and outsole.
Global Biodegradable plastic Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Starch Based
Polylactic acid (PLA)
Polybutylene succinate (PBS)
Poly (butylene adipate-co-terephthalate) (PBAT)
Polyhydroxyalkanoates (PHAs)

By Application:
Consumer Goods

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Biodegradable plastic Market, by Region, 2019-2029 (USD Billion)
1.2.2. Biodegradable plastic Market, by Product, 2019-2029 (USD Billion)
1.2.3. Biodegradable plastic Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Biodegradable plastic Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Biodegradable plastic Market Dynamics
3.1. Biodegradable plastic Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Growing use of biodegradable plastics in packaging and agriculture Growing governmental support regarding support of recycled packaging materials
3.1.2. Market Challenges High Cost of Biodegradable plastic
3.1.3. Market Opportunities Advancements in Formulation of biodegradable packaging materials High potential in emerging economies
Chapter 4. Global Biodegradable plastic Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Biodegradable plastic Market, by Product
6.1. Market Snapshot
6.2. Global Biodegradable plastic Market by Product, Performance – Potential Analysis
6.3. Global Biodegradable plastic Market Estimates & Forecasts by Product 2019-2029 (USD Billion)
6.4. Biodegradable plastic Market, Sub Segment Analysis
6.4.1. Starch Based
6.4.2. Polylactic acid (PLA)
6.4.3. Polybutylene succinate (PBS)
6.4.4. Poly (butylene adipate-co-terephthalate) (PBAT)
6.4.5. Polyhydroxyalkanoates (PHAs)
6.4.6. Others
Chapter 7. Global Biodegradable plastic Market, by application
7.1. Market Snapshot
7.2. Global Biodegradable plastic Market by application, Performance – Potential Analysis
7.3. Global Biodegradable plastic Market Estimates & Forecasts by application 2019-2029 (USD Billion)
7.4. Biodegradable plastic Market, Sub Segment Analysis
7.4.1. Packaging
7.4.2. Agriculture
7.4.3. Consumer Goods
7.4.4. Others
Chapter 8. Global Biodegradable plastic Market, Regional Analysis
8.1. Biodegradable plastic Market, Regional Market Snapshot
8.2. North America Biodegradable Plastic Market
8.2.1. U.S. Biodegradable plastic Market Product breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Biodegradable plastic Market
8.3. Europe Biodegradable plastic Market Snapshot
8.3.1. U.K. Biodegradable plastic Market
8.3.2. Germany Biodegradable plastic Market
8.3.3. France Biodegradable plastic Market
8.3.4. Spain Biodegradable plastic Market
8.3.5. Italy Biodegradable plastic Market
8.3.6. Rest of Europe Biodegradable plastic Market
8.4. Asia-Pacific Biodegradable plastic Market Snapshot
8.4.1. China Biodegradable plastic Market
8.4.2. India Biodegradable plastic Market
8.4.3. Japan Biodegradable plastic Market
8.4.4. Australia Biodegradable plastic Market
8.4.5. South Korea Biodegradable plastic Market
8.4.6. Rest of Asia Pacific Biodegradable plastic Market
8.5. Latin America Biodegradable plastic Market Snapshot
8.5.1. Brazil Biodegradable plastic Market
8.5.2. Mexico Biodegradable plastic Market
8.6. Rest of The World Biodegradable plastic Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Cargill Incorporated Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. PTT MCC Biochem Co., Ltd.
9.2.3. Biome Technologies plc
9.2.4. Plantic Technologies Limited
9.2.5. BASF SE
9.2.6. Total Corbion PLA
9.2.7. Synbra Technology BV
9.2.8. Futerro
9.2.9. Novamont SpA 9.2.10. NatureWorks LLC
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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