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Biodegradable Plastic Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global biodegradable plastic market size reached US$ 4.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2027, exhibiting a growth rate (CAGR) of 9.43% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Biodegradable plastics are made using petroleum-based sources and renewable raw materials, such as corn, wheat, bamboo, and sugarcane. They are degraded by microorganisms like fungi and bacteria into water, biomass, and carbon dioxide (CO2). As a result, they are utilized in different ways, from flexible packing materials for different food products to extruded, injection-molded in conventional machines. Presently, the excessive use of disposable single-use plastics and their negative impact on the environment and human health is catalyzing the demand for biodegradable plastics worldwide.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Biodegradable Plastic Market Trends:

Biodegradable plastics are used in the agriculture and horticulture sectors for manufacturing mulching films and plant pots. This, in confluence with the increasing utilization of agricultural products in the burgeoning food and beverage (F&B) sector, represents one of the key factors bolstering the market growth. Moreover, governing agencies of numerous countries are imposing bans on non-biodegradable plastics on account of rising environmental concerns. They are also implementing high standards and introducing certification systems to manage the quality of products. This, coupled with the growing awareness about the detrimental impact of plastics, is positively influencing the demand for eco-friendly alternatives like biodegradable plastics. Apart from this, the surging use of online food delivery applications and boosting sales of ready-to-eat (RTE) products is promoting the adoption of biodegradable plastics for food packaging and compostable bags. Furthermore, several leading companies are focusing on shifting their production facilities of biodegradable polymers to emerging countries due to affordable human resources and the convenience of feedstock acquisition. They are also improving manufacturing procedures and chemical additives. This is anticipated to increase the development and application of biodegradable plastics in various countries, thereby strengthening the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global biodegradable plastic market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type and end use.

Breakup by Type:

 

 
 

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  • Starch-based
  • PLA
  • PBS
  • PBAT
  • PHA
  • Others
     

Breakup by End Use:

  • Packaging
  • Agriculture
  • Consumer Goods
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, Biome Technologies plc, Bio-on S.p.A., Corbion N.V., Danimer Scientific, Eastman Chemical Company, Mitsubishi Chemical Corporation, NatureWorks LLC (Cargill Incorporated), Novamont S.p.A., Plantic Technologies Limited (KURARAY CO. LTD.), Toray Industries Inc. and Total Corbion PLA.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, End Use, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered BASF SE, Biome Technologies plc, Bio-on S.p.A., Corbion N.V., Danimer Scientific, Eastman Chemical Company, Mitsubishi Chemical Corporation, NatureWorks LLC (Cargill Incorporated), Novamont S.p.A., Plantic Technologies Limited (KURARAY CO. LTD.), Toray Industries Inc. and Total Corbion PLA
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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)

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Biodegradable Plastic Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Type
    6.1    Starch-based
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    PLA
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    PBS
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    PBAT
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    PHA
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Others
        6.6.1 Market Trends
        6.6.2 Market Forecast
7   Market Breakup by End Use
    7.1    Packaging
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Agriculture
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Consumer Goods
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Others
        7.4.1 Market Trends
        7.4.2 Market Forecast
8   Market Breakup by Region
    8.1    North America
        8.1.1 United States
           8.1.1.1 Market Trends
           8.1.1.2 Market Forecast
        8.1.2 Canada
           8.1.2.1 Market Trends
           8.1.2.2 Market Forecast
    8.2    Asia-Pacific
        8.2.1 China
           8.2.1.1 Market Trends
           8.2.1.2 Market Forecast
        8.2.2 Japan
           8.2.2.1 Market Trends
           8.2.2.2 Market Forecast
        8.2.3 India
           8.2.3.1 Market Trends
           8.2.3.2 Market Forecast
        8.2.4 South Korea
           8.2.4.1 Market Trends
           8.2.4.2 Market Forecast
        8.2.5 Australia
           8.2.5.1 Market Trends
           8.2.5.2 Market Forecast
        8.2.6 Indonesia
           8.2.6.1 Market Trends
           8.2.6.2 Market Forecast
        8.2.7 Others
           8.2.7.1 Market Trends
           8.2.7.2 Market Forecast
    8.3    Europe
        8.3.1 Germany
           8.3.1.1 Market Trends
           8.3.1.2 Market Forecast
        8.3.2 France
           8.3.2.1 Market Trends
           8.3.2.2 Market Forecast
        8.3.3 United Kingdom
           8.3.3.1 Market Trends
           8.3.3.2 Market Forecast
        8.3.4 Italy
           8.3.4.1 Market Trends
           8.3.4.2 Market Forecast
        8.3.5 Spain
           8.3.5.1 Market Trends
           8.3.5.2 Market Forecast
        8.3.6 Russia
           8.3.6.1 Market Trends
           8.3.6.2 Market Forecast
        8.3.7 Others
           8.3.7.1 Market Trends
           8.3.7.2 Market Forecast
    8.4    Latin America
        8.4.1 Brazil
           8.4.1.1 Market Trends
           8.4.1.2 Market Forecast
        8.4.2 Mexico
           8.4.2.1 Market Trends
           8.4.2.2 Market Forecast
        8.4.3 Others
           8.4.3.1 Market Trends
           8.4.3.2 Market Forecast
    8.5    Middle East and Africa
        8.5.1 Market Trends
        8.5.2 Market Breakup by Country
        8.5.3 Market Forecast
9   SWOT Analysis
    9.1    Overview
    9.2    Strengths
    9.3    Weaknesses
    9.4    Opportunities
    9.5    Threats
10  Value Chain Analysis
11  Porters Five Forces Analysis

    11.1    Overview
    11.2    Bargaining Power of Buyers
    11.3    Bargaining Power of Suppliers
    11.4    Degree of Competition
    11.5    Threat of New Entrants
    11.6    Threat of Substitutes
12  Price Analysis
13  Competitive Landscape

    13.1    Market Structure
    13.2    Key Players
    13.3    Profiles of Key Players
        13.3.1    BASF SE
           13.3.1.1 Company Overview
           13.3.1.2 Product Portfolio
           13.3.1.3 Financials
           13.3.1.4 SWOT Analysis
        13.3.2    Biome Technologies plc
           13.3.2.1 Company Overview
           13.3.2.2 Product Portfolio
           13.3.2.3 Financials
        13.3.3    Bio-on S.p.A.
           13.3.3.1 Company Overview
           13.3.3.2 Product Portfolio
        13.3.4    Corbion N.V.
           13.3.4.1 Company Overview
           13.3.4.2 Product Portfolio
           13.3.4.3 Financials
        13.3.5    Danimer Scientific
           13.3.5.1 Company Overview
           13.3.5.2 Product Portfolio
        13.3.6    Eastman Chemical Company
           13.3.6.1 Company Overview
           13.3.6.2 Product Portfolio
           13.3.6.3 Financials
           13.3.6.4 SWOT Analysis
        13.3.7    Mitsubishi Chemical Corporation
           13.3.7.1 Company Overview
           13.3.7.2 Product Portfolio
           13.3.7.3 Financials
           13.3.7.4 SWOT Analysis
        13.3.8    NatureWorks LLC (Cargill Incorporated)
           13.3.8.1 Company Overview
           13.3.8.2 Product Portfolio
        13.3.9    Novamont S.p.A.
           13.3.9.1 Company Overview
           13.3.9.2 Product Portfolio
        13.3.10    Plantic Technologies Limited (KURARAY CO. LTD.)
           13.3.10.1 Company Overview
           13.3.10.2 Product Portfolio
        13.3.11    Toray Industries Inc.
           13.3.11.1 Company Overview
           13.3.11.2 Product Portfolio
           13.3.11.3 Financials
           13.3.11.4 SWOT Analysis
        13.3.12    Total Corbion PLA
           13.3.12.1 Company Overview
           13.3.12.2 Product Portfolio

List of Figures

Figure 1: Global: Biodegradable Plastic Market: Major Drivers and Challenges
Figure 2: Global: Biodegradable Plastic Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Biodegradable Plastic Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Biodegradable Plastic Market: Breakup by Type (in %), 2021
Figure 5: Global: Biodegradable Plastic Market: Breakup by End Use (in %), 2021
Figure 6: Global: Biodegradable Plastic Market: Breakup by Region (in %), 2021
Figure 7: Global: Biodegradable Plastic (Starch-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Biodegradable Plastic (Starch-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Biodegradable Plastic (PLA) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Biodegradable Plastic (PLA) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Biodegradable Plastic (PBS) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Biodegradable Plastic (PBS) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Biodegradable Plastic (PBAT) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Biodegradable Plastic (PBAT) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Biodegradable Plastic (PHA) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Biodegradable Plastic (PHA) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Biodegradable Plastic (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Biodegradable Plastic (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Biodegradable Plastic (Packaging) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Biodegradable Plastic (Packaging) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Biodegradable Plastic (Agriculture) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Biodegradable Plastic (Agriculture) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Biodegradable Plastic (Consumer Goods) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Biodegradable Plastic (Consumer Goods) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Biodegradable Plastic (Other End Uses) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Biodegradable Plastic (Other End Uses) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: North America: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: North America: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: United States: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: United States: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Canada: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Canada: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Asia-Pacific: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Asia-Pacific: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: China: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: China: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Japan: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Japan: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: India: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: India: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: South Korea: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: South Korea: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Australia: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Australia: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Indonesia: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Indonesia: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Others: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Others: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Europe: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Europe: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Germany: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Germany: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: France: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: France: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: United Kingdom: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: United Kingdom: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Italy: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Italy: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Spain: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Spain: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Russia: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Russia: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Others: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Others: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Latin America: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Latin America: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Brazil: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Brazil: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Mexico: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Mexico: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Others: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Others: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Middle East and Africa: Biodegradable Plastic Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Middle East and Africa: Biodegradable Plastic Market: Breakup by Country (in %), 2021
Figure 75: Middle East and Africa: Biodegradable Plastic Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Global: Biodegradable Plastic Industry: SWOT Analysis
Figure 77: Global: Biodegradable Plastic Industry: Value Chain Analysis
Figure 78: Global: Biodegradable Plastic Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Biodegradable Plastic Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Biodegradable Plastic Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Biodegradable Plastic Market Forecast: Breakup by End Use (in Million US$), 2022-2027
Table 4: Global: Biodegradable Plastic Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Biodegradable Plastic Market: Competitive Structure
Table 6: Global: Biodegradable Plastic Market: Key Players


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Key Questions Answered in This Report

The global biodegradable plastic market was valued at US$ 4.4 Billion in 2021.

We expect the global biodegradable plastic market to exhibit a CAGR of 9.43% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in numerous production activities for biodegradable plastics.  

The rising environmental concerns, along with the increasing demand for eco-friendly alternatives, such as biodegradable plastics, owing to the growing awareness for detrimental impact of plastics, are primarily driving the global biodegradable plastic market.

Based on the type, the global biodegradable plastic market has been segregated into starch-based, PLA, PBS, PBAT, PHA, and others. Among these, starch-based currently holds the largest market share.

Based on the end use, the global biodegradable plastic market can be bifurcated into packaging, agriculture, consumer goods, and others. Currently, the packaging industry exhibits a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.

Some of the major players in the global biodegradable plastic market include BASF SE, Biome Technologies plc, Bio-on S.p.A., Corbion N.V., Danimer Scientific, Eastman Chemical Company, Mitsubishi Chemical Corporation, NatureWorks LLC (Cargill Incorporated), Novamont S.p.A., Plantic Technologies Limited (KURARAY CO. LTD.), Toray Industries Inc., and Total Corbion PLA.

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