Europe Bio-Degradable Plastic Market to Grow at 10.8% During 2024-2032, Impelled by the Growing Need to Reduce Carbon Emissions

December 02, 2021 | Chemical & Materials

According to the latest report by IMARC Group, titled “Europe Bio-Degradable Plastic Market Report by Product Type (PBAT, Bio-Degradable Polyesters, PBS, PHA, PLA, Starch Based, and Others), End Use Industry (Food, Beverage, Pharmaceuticals, Personal Care and Home Care, and Others), and Country 2024-2032,” finds that the Europe bio-degradable plastic market is expected to grow at a CAGR of 10.8% during 2024-2032. Bio-degradable plastic, or bioplastic, refers to plant-based plastic that does not harm the environment. It is manufactured from molecules that can break down naturally. It is formed from plant- or animal-based raw materials, including orange peels, corn oil, switchgrass, or petrochemicals that contain bio-degradable additives. Bio-degradable plastic is decomposed by microorganisms, such as bacteria and fungi, into water, carbon dioxide and biomass. As a result, it finds applications across food and beverage, pharmaceuticals, personal and home care, consumer goods, and textile industries.

Europe Bio-Degradable Plastic Market Trends: 

The Europe bio-degradable plastic market is primarily driven by the rising awareness regarding the negative effects of plastic waste. Single-use plastic produces greenhouse gases during decomposition and takes a decade to break down or degrade, which is harmful to the environment. As a result, consumers are willing to pay more for bio-degradable plastic owing to its eco-friendly nature. Besides this, the European Union (EU) has prohibited the use of single-use plastic and is promoting the use of bio-degradable plastics in various industry verticals. In addition, bio-degradable plastics are increasingly used in the packaging industry to manufacture boxes, cups, and plates to reduce the carbon footprint. They are also utilized in the e-commerce industry, which is positively impacting the demand for bio-degradable plastics in the region. Furthermore, there has been growing research and development (R&D) activities to enhance the durability and resistance of bioplastics, which are creating a positive market outlook. 

Market Summary: 

  • Based on the product type, the market has been segmented into PBAT, bio-degradable polyesters, PBS, PHA, PLA, starch based, and others.
  • On the basis of the end use industry, the market has been classified into food, beverage, pharmaceuticals, personal care and home care, and others.
  • Region-wise, the market has been divided into Germany, France, the United Kingdom, Italy, Spain, and others.
  • The competitive landscape of the market has been examined, with some of the key players being API SpA, BASF SE, Biome Bioplastics (Biome Technologies plc), FKuR Kunstatoff GmbH, Kingfa Sci. & Tech. Co., Ltd, Mitsubishi Chemical Corporation, Natureworks LLC (Cargill Incorporated), Novamont S.p.A, Plantic (Kuraray Co., Ltd) and Toray Industries Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, End Use Industry, Country
Countries Covered Germany, France, United Kingdom, Italy, Spain, Others
Companies Covered API SpA, BASF SE, Biome Bioplastics (Biome Technologies plc), FKuR Kunstatoff GmbH, Kingfa Sci. & Tech. Co., Ltd, Mitsubishi Chemical Corporation, Natureworks LLC (Cargill Incorporated), Novamont S.p.A, Plantic (Kuraray Co., Ltd) and Toray Industries Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Europe Bio-Degradable Plastic Market to Grow at 10.8% During 2024-2032, Impelled by the Growing Need to Reduce Carbon Emissions
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