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Global Compostable Plastic Market to reach USD 3116 million by 2027

Global Compostable Plastic Market Size study, by Type (Home Compostable Plastic, BioPBS FD92, BWC BF 90A, Ecopond Flex 162, Others), by Application (Compostable cutlery, Compostable bag, Compostable straw, Compostable gloves, Compostable cup (cold cup), Compostable tray/dish) and Regional Forecasts 2020-2027

Product Code: CAMPAP_21895918
Publish Date: 18-02-2020
Page: 200

Global Compostable Plastic Market is valued approximately at USD 991 million in 2019 and is anticipated to grow with a healthy growth rate of more than 15.4% over the forecast period 2020-2027. A compostable plastic is a type of plastic that endures degradation through biological processes during composting to yield carbon dioxide (CO2), biomass, inorganic compounds, and water at a rate consistent with other recognized compostable materials and that leaves no visible, distinguishable, or toxic residue. A compostable plastic is a subset of biodegradable plastic. These plastics usually break down under the harsh control of environmental considerations, such as higher temperatures, pressure, and nutrient concentration distinct to biodegradable plastics. These plastics can be decomposed through the aerobic and anaerobic process of decomposition in a duration of three to six months. The increasing number of government initiatives to ban on the usage of single-use plastics across developed & developing countries, along with the rise in demand of compostable plastic in food packaging applications are few other factors responsible for the market growth over the forecast period. For instance, in June 2019, the government of Canada announced a ban on usage of single-use plastic as early as 2021 to reduce ocean waste. Only, 10% or less plastic in Canada gets recycled. Similarly, in 2020, Member of the European Parliament voted for the ban of single-use plastics as a part of comprehensive law opposed to plastic waste that pollutes oceans and plunder beaches. The regulation comes into force by 2021. Therefore, such type of government initiative regarding single-use plastic is expected to accelerate the demand for Compostable Plastic around the world. However, the high cost of compostable plastic is one of the major factors impeding the market growth over the forecast period of 2020-2027.

The regional analysis of the global Compostable Plastic market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the government initiatives to avoid the usage of single-use plastics, along with the presence of a significant number of manufacturers in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rapid growth of the packaged food industry and favorable government policies towards bioplastic would create lucrative growth prospects for the compostable plastic market across the Asia-Pacific region.

Major market player included in this report are:
Biome Technologies Plc
Corbion N.V.
Danimer Scientific
Dow Inc.
Eastman Chemical Company
Kuraray Co., Ltd.
Mitsubishi Chemical Holdings Corporation
Novamont S.p.A.
PTT Global Chemical Public Co., Ltd.

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 eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available 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 Type:
Home Compostable Plastic
Ecopond Flex 162

By Application:
Compostable cutlery
Compostable bag
Compostable straw
Compostable gloves
Compostable cup (cold cup)
Compostable tray/dish

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Compostable Plastic Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Million)
1.2.1. Compostable Plastic Market, by Region, 2018-2027 (USD Million)
1.2.2. Compostable Plastic Market, by Type, 2018-2027 (USD Million)
1.2.3. Compostable Plastic Market, by Application, 2018-2027 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Compostable 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 Compostable Plastic Market Dynamics
3.1. Compostable Plastic Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Compostable 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
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Compostable Plastic Market, by Type
5.1. Market Snapshot
5.2. Global Compostable Plastic Market by Type, Performance – Potential Analysis
5.3. Global Compostable Plastic Market Estimates & Forecasts by Type 2017-2027 (USD Million)
5.4. Compostable Plastic Market, Sub Segment Analysis
5.4.1. Home Compostable Plastic
5.4.2. BioPBS FD92
5.4.3. BWC BF 90A
5.4.4. Ecopond Flex 162
5.4.5. Others
Chapter 6. Global Compostable Plastic Market, by Application
6.1. Market Snapshot
6.2. Global Compostable Plastic Market by Application, Performance – Potential Analysis
6.3. Global Compostable Plastic Market Estimates & Forecasts by Application 2017-2027 (USD Million)
6.4. Compostable Plastic Market, Sub Segment Analysis
6.4.1. Compostable cutlery
6.4.2. Compostable bag
6.4.3. Compostable straw
6.4.4. Compostable gloves
6.4.5. Compostable cup (cold cup)
6.4.6. Compostable tray/dish
Chapter 7. Global Compostable Plastic Market, Regional Analysis
7.1. Compostable Plastic Market, Regional Market Snapshot
7.2. North America Compostable Plastic Market
7.2.1. U.S. Compostable Plastic Market Type breakdown estimates & forecasts, 2017-2027 Application breakdown estimates & forecasts, 2017-2027
7.2.2. Canada Compostable Plastic Market
7.3. Europe Compostable Plastic Market Snapshot
7.3.1. U.K. Compostable Plastic Market
7.3.2. Germany Compostable Plastic Market
7.3.3. France Compostable Plastic Market
7.3.4. Spain Compostable Plastic Market
7.3.5. Italy Compostable Plastic Market
7.3.6. Rest of Europe Compostable Plastic Market
7.4. Asia-Pacific Compostable Plastic Market Snapshot
7.4.1. China Compostable Plastic Market
7.4.2. India Compostable Plastic Market
7.4.3. Japan Compostable Plastic Market
7.4.4. Australia Compostable Plastic Market
7.4.5. South Korea Compostable Plastic Market
7.4.6. Rest of Asia Pacific Compostable Plastic Market
7.5. Latin America Compostable Plastic Market Snapshot
7.5.1. Brazil Compostable Plastic Market
7.5.2. Mexico Compostable Plastic Market
7.6. Rest of The World Compostable Plastic Market
Chapter 8. Competitive Intelligence
8.1. Top Market Strategies
8.2. Company Profiles
8.2.1. BASF SE Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.2.2. Biome Technologies Plc
8.2.3. Corbion N.V.
8.2.4. Danimer Scientific
8.2.5. Dow Inc.
8.2.6. Eastman Chemical Company
8.2.7. Kuraray Co., Ltd.
8.2.8. Mitsubishi Chemical Holdings Corporation
8.2.9. Novamont S.p.A.
8.2.10. PTT Global Chemical Public Co., Ltd.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.

Primary Research Sources:

  • Interview conducted with raw material suppliers & manufacturers.
  • Interview conducted with manufacturers, suppliers & distributors, researchers, & representatives of regulatory bodies.
  • Interview conducted with market players, industry experts, & independent consultants.
  • Secondary Research Sources:
  • Purchased Database: D&B Hoovers, Bloomberg, Inc., Business Information Industry Association, NAICS Association.
  • Internal Database: White papers, Certified Publications, Articles by Recognized Authors and Regulatory Bodies.
  • Government Databases: Food and Agriculture Organization (FAO), European Industrial Hemp Association (EIHA), World Health Organization (WHO), Food and Drug Administration (FDA), International Telecommunication Union (ITU), United States Department of Agriculture (USDA), International organization of Motor Vehicle Manufacturers (OICA).

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