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 to 2028

Abstract
The Biodegradable plastic market is projected to reach USD 20.9 billion by 2028, at a CAGR of 21.3% from USD 7.9 billion in 2023. The combination of environmental concerns, regulatory actions, consumer demand, corporate sustainability efforts, and advancements in biodegradable plastics technology are driving the adoption and use of biodegradable plastics.

“Packaging application accounted for the fastest growth during the forecast period.”

Packaging is the largest end-use industry of biodegradable plastics. Increasing environmental regulations and changing lifestyles of consumers have increased the demand for biodegradable plastics in the packaging industry. The high durability and impermeability to water has encouraged plastic usage in packaging.

Food & beverage manufacturers are increasingly switching to biodegradable plastics to mitigate environmental and economic issues. In many regions, especially Europe and North America, stringent governmental regulations are forcing industries to reduce their carbon footprint, which has increased the demand for bio-based products.

“PLA biodegradable plastic is expected to be the largest type during the forecast period, in terms of value.”

PLA) is a biodegradable plastic that has gained significant attention and popularity in recent years. PLA has a wide range of applications, including packaging materials, disposable cutlery, food containers, films, fibers, and 3D printing filaments. It offers good clarity, strength, and printability, making it suitable for various uses. PLA's biodegradability and renewable nature make it a promising alternative to conventional plastics.

“Based on region, Asia Pacific is the second fastest growing market for biodegradable plastic in 2022, in terms of value.”

Based on region, Asia Pacific is a key market to produce biodegradable plastics. The availability of low-cost raw materials and labor, coupled with growing awareness among people, makes the region an attractive investment destination for biodegradable plastic manufacturers. The rising population, urbanization, and industrialization are some of the factors that will drive the biodegradable plastic market in this region.

In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted.

A breakdown of the profiles of the primary interviewees are as follows:
•By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
•By Designation: C-Level - 35%, Director Level - 25%, and Others - 40%
•By Region: North America - 30%, Asia Pacific - 40%, Europe - 20%, Middle East & Africa-5%, and Latin America-5%

The key players in this market are BASF (Germany), NatureWorks (US), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Toray Industries (Japan), Plantic Technologies (Australia), Danimer Scientific (US), and Fkur Kunstsoff (Germany).

Research Coverage
This report segments the biodegradable plastic market based on type, application, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products and services, key strategies, new product launches, expansions, and mergers and acquisitions associated with the biodegradable plastic market.

Key benefits of buying this report
This research report focuses on various levels of analysis, including industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the biodegradable plastic market, high-growth regions, and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:
•Analysis of key drivers (Changing consumer preference toward eco-friendly plastic products, increasing use in packaging and compostable bag applications), restraints (higher prices of biodegradable plastics than conventional plastics), opportunities (development of new applications) and challenges (performance issue, expensive and complex production process).
•Market Penetration: Comprehensive information on the biodegradable plastic market offered by top players in the global biodegradable plastic market.
•Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the biodegradable plastic market.
•Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for biodegradable plastic market across regions.
•Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global biodegradable plastic market
•Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the biodegradable plastic market

Content
Table of Contents

1INTRODUCTION31
1.1STUDY OBJECTIVES31
1.2MARKET DEFINITION31
1.2.1INCLUSIONS & EXCLUSIONS31
1.3MARKET SCOPE32
1.3.1MARKETS COVERED32
FIGURE 1BIODEGRADABLE PLASTICS MARKET SEGMENTATION32
1.3.2REGIONS COVERED32
1.3.3YEARS CONSIDERED33
1.4CURRENCY CONSIDERED33
1.5UNIT CONSIDERED33
1.6STAKEHOLDERS33
1.7SUMMARY OF CHANGES34
2RESEARCH METHODOLOGY35
2.1RESEARCH DATA35
FIGURE 2BIODEGRADABLE PLASTICS MARKET: RESEARCH DESIGN35
2.1.1SECONDARY DATA36
2.1.1.1Key data from secondary sources36
2.1.2PRIMARY DATA37
2.1.2.1Key data from primary sources37
2.1.2.2Primary interviews – demand and supply sides37
2.1.2.3Key industry insights38
2.1.2.4Breakdown of primary interviews38
2.2MARKET SIZE ESTIMATION38
2.2.1BOTTOM-UP APPROACH39
FIGURE 3BIODEGRADABLE PLASTICS MARKET: BOTTOM-UP APPROACH39
2.2.2TOP-DOWN APPROACH39
FIGURE 4BIODEGRADABLE PLASTICS MARKET: TOP-DOWN APPROACH39
FIGURE 5MARKET SIZE ESTIMATION: BIODEGRADABLE PLASTICS MARKET TOP-DOWN APPROACH40
2.3FORECAST NUMBER CALCULATION40
FIGURE 6DEMAND-SIDE FORECAST PROJECTIONS40
2.4DATA TRIANGULATION41
FIGURE 7BIODEGRADABLE PLASTICS MARKET: DATA TRIANGULATION41
2.5FACTOR ANALYSIS42
2.6RESEARCH ASSUMPTIONS42
2.7LIMITATIONS AND RISKS43
2.8RECESSION IMPACT43
3EXECUTIVE SUMMARY44
FIGURE 8PLA BIODEGRADABLE PLASTICS TO WITNESS FASTEST-GROWTH IN TYPE45
FIGURE 9PACKAGING TO LEAD OVERALL MARKET DURING FORECAST PERIOD45
FIGURE 10EUROPE TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD46
4PREMIUM INSIGHTS47
4.1ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BIODEGRADABLE PLASTICS MARKET47
FIGURE 11EUROPE TO WITNESS HIGH GROWTH IN BIODEGRADABLE PLASTICS MARKET DURING FORECAST PERIOD47
4.2EUROPE: BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY AND COUNTRY47
FIGURE 12PACKAGING SEGMENT AND GERMANY LED MARKET IN EUROPE47
4.3BIODEGRADABLE PLASTICS MARKET, BY TYPE48
FIGURE 13PLA BIODEGRADABLE PLASTICS TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD48
4.4BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY48
FIGURE 14PACKAGING TO LEAD MARKET BY 202848
4.5BIODEGRADABLE PLASTICS MARKET, BY REGION49
FIGURE 15INDIA TO REGISTER HIGHEST CAGR IN BIODEGRADABLE PLASTICS MARKET49
5MARKET OVERVIEW50
5.1INTRODUCTION50
5.2MARKET DYNAMICS50
FIGURE 16DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE BIODEGRADABLE PLASTICS MARKET50
5.2.1DRIVERS51
5.2.1.1Changing consumer preference toward eco friendly plastic products51
TABLE 1ADVERSE HEALTH EFFECTS DUE TO USE OF CONVENTIONAL PLASTICS51
5.2.1.2Increasing use of packaging and compostable bags53
5.2.1.3Government focus on green procurement policies and regulations53
TABLE 2REGULATIONS ON THE USE OF PLASTIC BAGS54
5.2.2RESTRAINTS57
5.2.2.1Higher price of biodegradable plastics compared to conventional plastics57
5.2.3OPPORTUNITIES57
5.2.3.1Development of new applications57
5.2.3.2High potential in emerging economies of Asia Pacific57
5.2.4CHALLENGES58
5.2.4.1Performance issues58
5.2.4.2Expensive and complex production process58
5.2.4.3Limited regulations related to biodegradable plastics in emerging economies58
 
5.3PORTER’S FIVE FORCES ANALYSIS59
FIGURE 17PORTER'S FIVE FORCES ANALYSIS59
5.3.1BARGAINING POWER OF SUPPLIERS59
5.3.2BARGAINING POWER OF BUYERS60
5.3.3THREAT OF SUBSTITUTES60
5.3.4THREAT OF NEW ENTRANTS60
5.3.5INTENSITY OF COMPETITIVE RIVALRY61
TABLE 3BIODEGRADABLE PLASTICS MARKET: PORTER'S FIVE FORCES ANALYSIS61
5.4VALUE CHAIN ANALYSIS61
FIGURE 18BIODEGRADABLE PLASTICS MARKET: VALUE CHAIN ANALYSIS61
5.4.1RAW MATERIAL SUPPLIERS62
5.4.2MANUFACTURERS62
5.4.3DISTRIBUTORS62
5.4.4END-CONSUMERS62
5.5REGULATORY LANDSCAPE62
5.5.1NORTH AMERICA62
5.5.1.1US62
5.5.1.2Canada63
5.5.2ASIA PACIFIC63
5.5.3EUROPE64
5.5.4REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS65
TABLE 4REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS65
5.6KEY CONFERENCES AND EVENTS, 2023–202466
TABLE 5BIODEGRADABLE PLASTICS MARKET: KEY CONFERENCES AND EVENTS66
5.7KEY FACTORS AFFECTING BUYING DECISIONS67
5.7.1QUALITY67
5.7.2SERVICE67
FIGURE 19SUPPLIER SELECTION CRITERION68
5.8TRADE ANALYSIS68
TABLE 6IMPORT TRADE DATA OF PLA FOR TOP 10 COUNTRIES, 2018-2022 (USD THOUSAND)69
TABLE 7EXPORT TRADE DATA OF PLA FOR TOP COUNTRIES, 2018-2022 (USD THOUSAND)69
5.9ECOSYSTEM MAPPING70
FIGURE 20ECOSYSTEM70
TABLE 8BIODEGRADABLE PLASTICS: ECOSYSTEM71
5.10TECHNOLOGY ANALYSIS71
5.10.1ENZYMATIC RECYCLING OF POLYBUTYLENE ADIPATE TEREPHTHALATE71
5.10.2PHA BIODEGRADABLE BIOPLASTIC72
 
5.10.3BIODEGRADABLE PLASTIC MADE FROM RED FRUIT72
5.10.43D PRINTING OF POLYBUTYLENE ADIPATE TEREPHTHALATE72
5.10.5BIOMEDICAL APPLICATIONS OF POLYBUTYLENE ADIPATE TEREPHTHALATE72
5.11CASE STUDY ANALYSIS72
5.11.1ECOVIO, A BIODEGRADABLE POLYESTER DEVELOPED BY BASF SE72
5.11.2ADOPTION OF PBAT RESIN TO PRODUCE BAGS73
5.11.3DEVELOPMENT OF POLYHYDROXYALKANOATES (PHA) BY DANIMER SCIENTIFIC73
5.12TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS74
FIGURE 21TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS IN BIODEGRADABLE PLASTICS MARKET74
5.13MACROECONOMIC INDICATORS74
5.13.1GDP TRENDS AND FORECAST74
TABLE 9PROJECTED REAL GROSS DOMESTIC PRODUCT GROWTH (ANNUAL PERCENT CHANGE) OF KEY COUNTRIES, 2018–202575
TABLE 10PRODUCTION OF AGRICULTURAL CROPS, BY COUNTRY, 2022 (THOUSAND TONS)76
5.14AVERAGE SELLING PRICE ANALYSIS76
5.14.1AVERAGE SELLING PRICE, BY REGION76
FIGURE 22AVERAGE SELLING PRICE, BY REGION (USD/KG)76
5.14.2AVERAGE SELLING PRICE, BY TYPE77
TABLE 11AVERAGE SELLING PRICE BASED ON TYPE (USD/KG)77
FIGURE 23AVERAGE SELLING PRICE, BY KEY PLAYER (USD/KG)77
5.15PATENT ANALYSIS77
5.15.1METHODOLOGY78
5.15.2DOCUMENT TYPES78
FIGURE 24PATENT APPLICATIONS SEGMENT TO ACCOUNT FOR HIGHEST COUNT SHARE IN LAST TEN YEARS78
FIGURE 25PUBLICATION TRENDS OVER LAST TEN YEARS78
5.15.3INSIGHTS79
5.15.4LEGAL STATUS79
FIGURE 26LEGAL STATUS OF PATENTS79
5.15.5JURISDICTION ANALYSIS79
FIGURE 27TOP JURISDICTIONS, BY DOCUMENT79
5.15.6TOP COMPANIES/APPLICANTS80
TABLE 12TOP TEN PATENT OWNERS IN LAST TEN YEARS80
6BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY81
6.1INTRODUCTION82
FIGURE 28PACKAGING INDUSTRY TO DRIVE BIODEGRADABLE PLASTICS MARKET BETWEEN 2023 AND 202882
TABLE 13BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)82
TABLE 14BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)83
TABLE 15BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)83
TABLE 16BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)83
6.2PACKAGING84
6.2.1FOOD & BEVERAGE INDUSTRY TO DRIVE MARKET84
6.2.2FLEXIBLE PACKAGING84
6.2.2.1Growing consumer awareness for environmental safety to drive market84
6.2.2.2Bags85
6.2.2.3Pouches85
6.2.2.4Films and roll stocks85
6.2.2.5Others85
6.2.3RIGID PACKAGING85
6.2.3.1Increasing demand for cartons, bags, boxes, and containers to drive market85
6.2.3.2Bottle and jars86
6.2.3.3Trays86
6.2.3.4Tubs86
6.2.3.5Caps and closures86
6.2.3.6Others86
6.3CONSUMER GOODS86
6.3.1ELECTRICAL APPLIANCES86
6.3.1.1Demand from fast-moving consumer electronics to drive market86
6.3.2DOMESTIC APPLIANCES87
6.3.2.1Demand for biodegradable houseware to drive market87
6.3.3OTHERS87
6.4TEXTILE87
6.4.1MEDICAL & HEALTHCARE TEXTILES88
6.4.1.1Increasing demand for medical textiles to drive market88
6.4.2PERSONAL CARE, CLOTHES, AND OTHER TEXTILES88
6.4.2.1Increasing demand for thermoplastics fibers to drive market88
6.5AGRICULTURE88
6.5.1TAPES & MULCH FILMS88
6.5.1.1Low labor and disposal costs to drive market88
6.5.2OTHERS89
6.6OTHERS89
 
7BIODEGRADABLE PLASTIC MARKET, BY TYPE90
7.1BIODEGRADABLE PLASTIC91
FIGURE 29POLYLACTIC ACID (PLA) TO LEAD OVERALL BIODEGRADABLE PLASTICS MARKET BETWEEN 2023 AND 202891
TABLE 17BIODEGRADABLE PLASTICS MARKET, BY TYPE, 2019–2022 (KILOTON)91
TABLE 18BIODEGRADABLE PLASTICS MARKET, BY TYPE, 2023–2028 (KILOTON)92
TABLE 19BIODEGRADABLE PLASTICS MARKET, BY TYPE, 2019–2022 (USD MILLION)92
TABLE 20BIODEGRADABLE PLASTICS MARKET, BY TYPE, 2023–2028 (USD MILLION)92
7.2POLYLACTIC ACID (PLA)93
7.2.1PLA IS MORE ECONOMICAL COMPARED TO OTHER BIODEGRADABLE PLASTICS93
7.3STARCH BLENDS93
7.3.1TENSILE STRENGTH AND ELONGATION PROPERTIES TO DRIVE MARKET93
7.4POLYHYDROXYALKANOATES (PHA)94
7.4.1INCREASING DEMAND FOR LIQUID PACKAGING TO DRIVE MARKET94
7.5BIODEGRADABLE POLYESTERS94
7.5.1POLYCAPROLACTONE (PCL)94
7.5.1.1PCL properties such as toughness, flexibility, compression set, and tear strength to drive market94
7.5.2POLYBUTYLENE ADIPATE TEREPHTHALATE (PBAT)94
7.5.2.1Packaging, flexible film, and mulch film applications to drive market94
7.5.3POLYBUTYLENE SUCCINATE (PBS)95
7.5.3.1Cost-effectiveness of PBS to drive market95
TABLE 21MAJOR SUPPLIERS OF PBS95
7.6OTHERS96
7.6.1REGENERATIVE CELLULOSE96
7.6.1.1Cellulose derivatives96
8BIODEGRADABLE PLASTIC MARKET, BY REGION97
8.1INTRODUCTION98
FIGURE 30CHINA TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD98
TABLE 22BIODEGRADABLE PLASTIC MARKET, BY REGION, 2019–2022 (USD MILLION)98
TABLE 23BIODEGRADABLE PLASTIC MARKET, BY REGION, 2023–2028 (USD MILLION)99
TABLE 24BIODEGRADABLE PLASTIC MARKET, BY REGION, 2019–2022 (KILOTON)99
TABLE 25BIODEGRADABLE PLASTIC MARKET, BY REGION, 2023–2028 (KILOTON)99
8.2ASIA PACIFIC100
FIGURE 31ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET SNAPSHOT100
TABLE 26ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2019–2022 (USD MILLION)101
TABLE 27ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2023–2028 (USD MILLION)101
TABLE 28ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2019–2022 (KILOTON)101
TABLE 29ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2023–2028 (KILOTON)102
TABLE 30ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)102
TABLE 31ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)102
TABLE 32ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)103
TABLE 33ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)103
8.2.1RECESSION IMPACT ON ASIA PACIFIC103
8.2.2CHINA104
8.2.2.1Ban on single-use plastics to drive market104
TABLE 34CHINA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)104
TABLE 35CHINA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)105
TABLE 36CHINA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)105
TABLE 37CHINA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)105
8.2.3JAPAN106
8.2.3.1Increasing focus on R&D for biodegradable plastic to drive market106
TABLE 38JAPAN: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)106
TABLE 39JAPAN: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)107
TABLE 40JAPAN: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)107
TABLE 41JAPAN: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)107
8.2.4INDIA108
8.2.4.1Increasing application of biodegradable plastics in agricultural industry to drive market108
TABLE 42INDIA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)108
TABLE 43INDIA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)109
TABLE 44INDIA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)109
TABLE 45INDIA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)109
8.2.5SOUTH KOREA110
8.2.5.1Environmental sustainability to drive market110
TABLE 46SOUTH KOREA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)110
TABLE 47SOUTH KOREA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)111
TABLE 48SOUTH KOREA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)111
TABLE 49SOUTH KOREA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)111
8.2.6REST OF ASIA PACIFIC112
TABLE 50REST OF ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)112
TABLE 51REST OF ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)112
TABLE 52REST OF ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)113
TABLE 53REST OF ASIA PACIFIC: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)113
8.3EUROPE113
FIGURE 32EUROPE: BIODEGRADABLE PLASTIC MARKET SNAPSHOT114
TABLE 54EUROPE: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2019–2022 (USD MILLION)114
TABLE 55EUROPE: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2023–2028 (USD MILLION)115
TABLE 56EUROPE: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2019–2022 (KILOTON)115
TABLE 57EUROPE: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2023–2028 (KILOTON)115
TABLE 58EUROPE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)116
TABLE 59EUROPE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)116
TABLE 60EUROPE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)116
TABLE 61EUROPE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)117
8.3.1RECESSION IMPACT ON EUROPE117
8.3.2GERMANY117
8.3.2.1Growth of packaging industry to drive market117
TABLE 62GERMANY: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)118
TABLE 63GERMANY: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)118
TABLE 64GERMANY: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)118
TABLE 65GERMANY: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)119
8.3.3UK119
8.3.3.1Increasing focus on policies implementation and regulations to drive market119
TABLE 66UK: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)119
TABLE 67UK: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)120
TABLE 68UK: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)120
TABLE 69UK: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)120
8.3.4FRANCE121
8.3.4.1Demand for sustainable packaging to drive market121
TABLE 70FRANCE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)121
TABLE 71FRANCE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)122
TABLE 72FRANCE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)122
TABLE 73FRANCE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)122
8.3.5ITALY123
8.3.5.1Growth of packaging industry to drive market123
TABLE 74ITALY: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)123
TABLE 75ITALY: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)124
TABLE 76ITALY: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)124
TABLE 77ITALY: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)124
8.3.6SPAIN125
8.3.6.1Increasing demand for food & beverage packaging to drive market125
TABLE 78SPAIN: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)125
TABLE 79SPAIN: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)125
TABLE 80SPAIN: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)126
TABLE 81SPAIN: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)126
8.3.7REST OF EUROPE126
TABLE 82REST OF EUROPE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)127
TABLE 83REST OF EUROPE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)127
TABLE 84REST OF EUROPE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)127
TABLE 85REST OF EUROPE: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)128
 
8.4NORTH AMERICA128
FIGURE 33NORTH AMERICA: MARKET SNAPSHOT129
TABLE 86NORTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2019–2022 (USD MILLION)129
TABLE 87NORTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2023–2028 (USD MILLION)130
TABLE 88NORTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2019–2022 (KILOTON)130
TABLE 89NORTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2023–2028 (KILOTON)130
TABLE 90NORTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)130
TABLE 91NORTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)131
TABLE 92NORTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)131
TABLE 93NORTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)131
8.4.1RECESSION IMPACT ON NORTH AMERICA132
8.4.2US132
8.4.2.1Increasing focus sustainable packaging products to drive market132
TABLE 94US: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)132
TABLE 95US: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)133
TABLE 96US: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)133
TABLE 97US: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)133
8.4.3CANADA134
8.4.3.1Growing demand for sustainable packaging to drive market134
TABLE 98CANADA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)134
TABLE 99CANADA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)134
TABLE 100CANADA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)135
TABLE 101CANADA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)135
8.4.4MEXICO135
8.4.4.1Skilled workforce, geographic advantages, political and economic stability to drive market135
TABLE 102MEXICO: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)136
TABLE 103MEXICO: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)136
TABLE 104MEXICO: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)136
TABLE 105MEXICO: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)137
8.5SOUTH AMERICA137
TABLE 106SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2019–2022 (USD MILLION)137
TABLE 107SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2023–2028 (USD MILLION)137
TABLE 108SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2019–2022 (KILOTON)138
TABLE 109SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2023–2028 (KILOTON)138
TABLE 110SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)138
TABLE 111SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)139
TABLE 112SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)139
TABLE 113SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)139
8.5.1BRAZIL140
8.5.1.1Rising demand for sustainable packaging solutions from agricultural sector to drive market140
TABLE 114BRAZIL: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)140
TABLE 115BRAZIL: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)140
TABLE 116BRAZIL: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)141
TABLE 117BRAZIL: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)141
8.5.2ARGENTINA141
8.5.2.1Rising demand for environmentally friendly packaging materials to drive market141
TABLE 118ARGENTINA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)142
TABLE 119ARGENTINA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)142
TABLE 120ARGENTINA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)142
TABLE 121ARGENTINA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)143
8.5.3REST OF SOUTH AMERICA143
TABLE 122REST OF SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)143
TABLE 123REST OF SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)143
TABLE 124REST OF SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)144
TABLE 125REST OF SOUTH AMERICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)144
8.6MIDDLE EAST & AFRICA144
TABLE 126MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2019–2022 (USD MILLION)145
TABLE 127MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2023–2028 (USD MILLION)145
TABLE 128MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2019–2022 (KILOTON)145
TABLE 129MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY COUNTRY, 2023–2028 (KILOTON)145
TABLE 130MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)146
TABLE 131MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)146
TABLE 132MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)146
TABLE 133MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)147
8.6.1SAUDI ARABIA147
8.6.1.1Decision of SASO to limit application of technical regulations to drive market147
TABLE 134SAUDI ARABIA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)147
TABLE 135SAUDI ARABIA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)148
TABLE 136SAUDI ARABIA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)148
TABLE 137SAUDI ARABIA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)148
8.6.2SOUTH AFRICA149
8.6.2.1Advancements in bioplastics research and innovation to drive market149
TABLE 138SOUTH AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)149
TABLE 139SOUTH AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)149
TABLE 140SOUTH AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)150
TABLE 141SOUTH AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)150
8.6.3REST OF MIDDLE EAST & AFRICA150
TABLE 142REST OF MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (USD MILLION)151
TABLE 143REST OF MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (USD MILLION)151
TABLE 144REST OF MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2019–2022 (KILOTON)151
TABLE 145REST OF MIDDLE EAST & AFRICA: BIODEGRADABLE PLASTIC MARKET, BY END-USE INDUSTRY, 2023–2028 (KILOTON)152
9COMPETITIVE LANDSCAPE153
9.1OVERVIEW153
TABLE 146COMPANIES ADOPTED INVESTMENTS & EXPANSIONS, AND ACQUISITIONS AS KEY GROWTH STRATEGIES BETWEEN 2018–2023153
9.2RANKING ANALYSIS OF KEY MARKET PLAYERS, 2022155
FIGURE 34RANKING OF TOP FIVE PLAYERS IN THE BIODEGRADABLE PLASTICS MARKET, 2022155
9.3MARKET SHARE ANALYSIS155
FIGURE 35BIODEGRADABLE PLASTICS MARKET SHARE, BY COMPANY (2022)155
TABLE 147BIODEGRADABLE PLASTICS MARKET: DEGREE OF COMPETITION156
9.4REVENUE ANALYSIS OF TOP PLAYERS157
TABLE 148BIODEGRADABLE PLASTICS MARKET: REVENUE ANALYSIS (USD)157
9.5MARKET EVALUATION MATRIX158
TABLE 149MARKET EVALUATION MATRIX158
9.6COMPANY EVALUATION MATRIX159
9.6.1STARS159
9.6.2PERVASIVE PLAYERS159
9.6.3EMERGING LEADERS159
9.6.4PARTICIPANTS159
FIGURE 36BIODEGRADABLE PLASTICS MARKET: COMPANY EVALUATION MATRIX, 2022160
9.7COMPANY END-USE INDUSTRY FOOTPRINT161
9.8COMPANY TYPE FOOTPRINT162
9.9COMPANY REGION FOOTPRINT163
9.10BUSINESS PRODUCT FOOTPRINT164
9.11START-UPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX165
9.11.1PROGRESSIVE COMPANIES165
9.11.2RESPONSIVE COMPANIES165
9.11.3STARTING BLOCKS165
9.11.4DYNAMIC COMPANIES165
FIGURE 37BIODEGRADABLE PLASTICS MARKET: STARTUPS AND SMES MATRIX, 2022166
9.12COMPETITIVE SCENARIO167
9.12.1PRODUCT LAUNCHES167
TABLE 150PRODUCT LAUNCHES, 2018–2023167
9.12.2DEALS168
TABLE 151BIODEGRADABLE PLASTICS: DEALS, 2018—2023168
9.12.3OTHER DEVELOPMENTS174
TABLE 152OTHER DEVELOPMENTS, 2017–2023174
 
10COMPANY PROFILES176
(Business overview, Products/Solutions/Services offered, Recent Developments, MNM view)*
10.1KEY PLAYERS176
10.1.1NATUREWORKS LLC176
TABLE 153NATUREWORKS LLC: COMPANY OVERVIEW176
TABLE 154NATUREWORKS LLC: PRODUCT OFFERED176
TABLE 155NATUREWORKS LLC: PRODUCT LAUNCHES177
TABLE 156NATUREWORKS LLC: DEALS178
TABLE 157NATUREWORKS: OTHERS179
10.1.2BASF SE181
TABLE 158BASF SE: COMPANY OVERVIEW181
FIGURE 38BASF SE: COMPANY SNAPSHOT182
TABLE 159BASF SE: PRODUCT OFFERED182
TABLE 160BASF SE: PRODUCT LAUNCHES183
TABLE 161BASF SE: DEALS183
10.1.3TOTALENERGIES CORBION185
TABLE 162TOTALENERGIES CORBION: COMPANY OVERVIEW185
TABLE 163TOTALENERGIES CORBION: PRODUCT OFFERED185
TABLE 164TOTALENERGIES CORBION: PRODUCT LAUNCHES185
TABLE 165TOTALENERGIES CORBION: DEALS186
TABLE 166TOTALENERGIES CORBION: OTHERS187
10.1.4MITSUBISHI CHEMICAL GROUP CORPORATION188
TABLE 167MITSUBISHI CHEMICAL GROUP CORPORATION: COMPANY OVERVIEW188
FIGURE 39MITSUBISHI CHEMICAL GROUP CORPORATION: COMPANY SNAPSHOT189
TABLE 168MITSUBISHI CHEMICAL GROUP CORPORATION: PRODUCT OFFERED189
TABLE 169MITSUBISHI CHEMICAL GROUP CORPORATION: PRODUCT LAUNCHES190
TABLE 170MITSUBISHI CHEMICAL GROUP CORPORATION: DEALS190
10.1.5BIOME BIOPLASTICS192
TABLE 171BIOME BIOPLASTICS: COMPANY OVERVIEW192
TABLE 172BIOME BIOPLASTICS: PRODUCT OFFERINGS192
TABLE 173BIOME BIOPLASTICS: DEALS193
TABLE 174BIOME BIOPLASTICS: PRODUCT LAUNCHES193
TABLE 175BIOME BIOPLASTICS: OTHERS194
10.1.6PLANTIC TECHNOLOGIES195
TABLE 176PLANTIC TECHNOLOGIES: COMPANY OVERVIEW195
TABLE 177PLANTIC TECHNOLOGIES: PRODUCT OFFERED195
10.1.7BIO-ON196
TABLE 178BIO-ON: COMPANY OVERVIEW196
TABLE 179BIO-ON: PRODUCT OFFERED196
 
TABLE 180BIO-ON: DEALS197
TABLE 181BIO-ON: OTHERS197
10.1.8DANIMER SCIENTIFIC199
TABLE 182DANIMER SCIENTIFIC: COMPANY OVERVIEW199
TABLE 183DANIMER SCIENTIFIC: PRODUCT OFFERED199
TABLE 184DANIMER SCIENTIFIC: PRODUCT LAUNCHES199
TABLE 185DANIMER SCIENTIFIC: DEALS200
TABLE 186DANIMER SCIENTIFIC: OTHERS201
10.1.9TORAY INDUSTRIES202
TABLE 187TORAY INDUSTRIES: COMPANY OVERVIEW202
TABLE 188TORAY INDUSTRIES: PRODUCT OFFERED202
TABLE 189TORAY INDUSTRIES: PRODUCT LAUNCHES202
TABLE 190TORAY INDUSTRIES: DEALS203
10.1.10NOVAMONT204
TABLE 191NOVAMONT: COMPANY OVERVIEW204
TABLE 192NOVAMONT: PRODUCT OFFERINGS204
TABLE 193NOVAMONT: PRODUCT LAUNCHES204
TABLE 194NOVAMONT: DEALS205
TABLE 195NOVAMONT: OTHERS206
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
10.2OTHER PLAYERS207
10.2.1ZHEJIANG HISUN BIOMATERIALS207
10.2.2FKUR KUNSTSTOFF GMBH207
10.2.3BIO-FED208
10.2.4GREEN DOT BIOPLASTICS208
10.2.5SYNBRA TECHNOLOGY209
10.2.6SPHERE209
10.2.7TIANAN BIOLOGIC MATERIALS210
10.2.8SUCCINITY210
10.2.9CARBIOLICE211
10.2.10AGRANA211
10.2.11FUTERRO212
10.2.12EASTMAN CHEMICAL COMPANY212
10.2.13INGEVITY213
10.2.14PTT MCC BIOCHEM213
10.2.15YIELD 10 BIOSCIENCE214
 
11APPENDIX215
11.1INSIGHTS FROM INDUSTRY EXPERTS215
11.2DISCUSSION GUIDE216
11.3KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL219
11.4CUSTOMIZATIONS OPTIONS221
11.5RELATED REPORTS221
11.6AUTHOR DETAILS222