Summary

The Biodegradable plastics market size is projected to grow from USD 12.92 billion in 2024 to USD 33.52 billion by 2029, registering a CAGR of 21.3% during the forecast period in terms of value. The global biodegradable plastics market is witnessing growth due to its versatile properties and it is also widely used in various industries due to its exceptional properties. Furthermore, biodegradable plastics are required for the application in various end use industries like packaging, consumer goods, textiles, agriculture & horticulture, which fuels the need for biodegradable plastics.

“PBAT type is projected to be the third fastest growing type in terms of value.”
PBAT type is projected to be the third fastest growing type in the biodegradable plastics market due to several factors. As the two major monomers that the copolymer PBAT is made of are butylene adipate and terephthalate. The stacking together of the monomers yields it certain unique properties, namely biodegradability and flexibility. It is completely biodegradable and degrades readily in the presence of natural microorganisms and bacteria. Entombed in soil, it degrades completely with no toxic residues. PBAT is often used in biodegradable bags that add flexibility, fast biodegradability and acceleration of the rate of compostability in order to comply with regulations on compost. PBAT can also be blended or co-extruded with other polymers for better performances and properties. Blending PBAT with other biodegradable polymers, such as polylactic acid (PLA) or starch, can improve its mechanical strength, biodegradability, and processability. These blends offer customized solutions for specific applications. It is fully biodegradable (compostable) and can be processed on conventional blown film equipment used for polyethylene. PBAT has also been investigated as a toughening agent for PLA.

“Agriculture & Horticulture end use industry is expected to be the third fastest growing end use industry for forecasted period in terms of value.”
Agriculture & Horticulture end use industry is expected to be the third fastest growing end use industry for forecasted period in terms of value. As biodegradable plastics are used in the making of mulches, seeding strips, and tapes in agriculture and horticulture. Its several advantages include better crop productions and environmental resource saving. It makes the soil healthier and more fertile when biodegradable plastics are used in agriculture and horticulture. Organic matters are produced by the breakdown of plastics and so improve the water holding capacity and availability of nutrients in the soil. This promotes healthy growth for these plants while avoiding many synthetic fertilizers and amendments of the soil. High disposal costs of traditional mulch, for example, promote the use of starch-based plastics in this industry. Biodegradable plastics are widely used by countries such as Germany, France, the US, China, and Mediterranean countries such as Spain and Israel, where agriculture is more intensive.

“Europe is estimated to be the second fastest growing region in terms of value for the forecasted period.”
Europe region is expected to be the second fastest growing region in forecasted period in terms of value. As Germany, Italy, France, Spain, and the UK are the major European biodegradable plastics market countries. This region is likely to see an increase in growth in the market for biodegradable plastics as the countries here are heavily investing into new packaging technologies to meet customer demands and requirements. It has a developed industrial base in developed economies such as the United Kingdom, France, Italy, Spain, and Germany. Europe accounts for a significant market share of the biodegradable plastic market, due to increased consumer requirement for ecologically friendly packaging materials. These governments of the European nations encourage the use of biodegradable plastics by establishing the fundamental infrastructure for composting such materials.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the biodegradable plastics market, and information was gathered from secondary research to determine and verify the market size of several segments.
• By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%
• By Designation: C Level Executives– 20%, Directors – 10%, and Others – 70%
• By Region: North America – 22%, Europe – 22%, APAC – 45%, ROW –11%

The Biodegradable plastics market comprises major players such as NatureWork LLC (US), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Mitsubishi Chemical Group Corporation. (Japan), Biome Bioplastics (UK), Plantic (Australia), FKuR (Germany), Danimer Scientific (US), TORAY INDUSTRIES, INC. (Japan), and Novamont (Italy). The study includes in-depth competitive analysis of these key players in the biodegradable plastics market, with their company profiles, recent developments, and key market strategies.

Research Coverage
This report segments the market for biodegradable plastics market on the basis of type, end use industry, 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 & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for biodegradable plastics market.

Key benefits of buying this report
This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the biodegradable plastics market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the biodegradable plastics market offered by top players in the global biodegradable plastics market.
• Analysis of drivers: (Government focus on new policies and regulations, Consumers with strong purchasing power and a high degree of environmental awareness, High growth in applications in end-use industries) restraints (Volatility in cost of raw materials, Higher price of biodegradable plastics as compared to conventional plastics), opportunities (Increasing use of biodegradable plastics in packaging end use industry, Higher growth in emerging economies of Asia Pacific) and challenges (High price and complex production process, Less durability of biodegradable plastics as compared to traditional plastics)
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the biodegradable plastics market.
• Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for biodegradable plastics market across regions.
• Market Capacity: Production capacities of companies producing biodegradable plastics are provided wherever available with upcoming capacities for the biodegradable plastics market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the biodegradable plastics market.

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Table of Contents

1 INTRODUCTION 25
1.1 STUDY OBJECTIVES 25
1.2 MARKET DEFINITION 25
1.3 STUDY SCOPE 26
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 26
1.3.2 INCLUSIONS AND EXCLUSIONS 27
1.3.3 YEARS CONSIDERED 27
1.3.4 CURRENCY CONSIDERED 28
1.3.5 UNITS CONSIDERED 28
1.4 STAKEHOLDERS 28
1.5 SUMMARY OF CHANGES 28
2 RESEARCH METHODOLOGY 30
2.1 RESEARCH DATA 30
2.1.1 SECONDARY DATA 31
2.1.1.1 Key secondary sources 31
2.1.1.2 Key data from secondary sources 31
2.1.2 PRIMARY DATA 32
2.1.2.1 Key data from primary sources 32
2.1.2.2 Key industry insights 33
2.1.2.3 Breakdown of interviews with experts 33
2.2 MARKET SIZE ESTIMATION 34
2.2.1 BOTTOM-UP APPROACH 35
2.2.2 TOP-DOWN APPROACH 35
2.3 DATA TRIANGULATION 36
2.4 RESEARCH ASSUMPTIONS 37
2.5 FACTOR ANALYSIS 37
2.6 GROWTH FORECAST 37
2.6.1 SUPPLY SIDE 38
2.6.2 DEMAND SIDE 38
2.7 RESEARCH LIMITATIONS 38
2.8 RISK ASSESSMENT 38
3 EXECUTIVE SUMMARY 39
4 PREMIUM INSIGHTS 43
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BIODEGRADABLE PLASTICS MARKET 43
4.2 BIODEGRADABLE PLASTICS MARKET, BY TYPE 43
4.3 BIODEGRADABLE PLASTICS MARKET, END-USE INDUSTRY 44
4.4 BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY AND REGION 44
4.5 BIODEGRADABLE PLASTICS MARKET, BY KEY COUNTRY 45
5 MARKET OVERVIEW 46
5.1 INTRODUCTION 46
5.2 IMPACT OF AI/GEN AI 46
5.2.1 INTRODUCTION 46
5.2.2 OVERVIEW OF IMPACT 46
5.2.2.1 Innovative biodegradable packaging from vineyard waste 46
5.2.2.2 Synergizing generative AI and biodegradable plastics for sustainable agriculture 46
5.2.2.3 Enhancing sustainability in packaging: Role of AI and biodegradable plastics 47
5.3 MARKET DYNAMICS 47
5.3.1 DRIVERS 48
5.3.1.1 Government focus on new policies and regulations 48
5.3.1.2 Consumers with strong purchasing power and commitment to environmental sustainability 51
5.3.1.3 Increasing applications of eco-friendly products 51
5.3.2 RESTRAINTS 51
5.3.2.1 Volatility in raw material prices 51
5.3.2.2 Higher price of biodegradable plastics than that of conventional plastics 52
5.3.3 OPPORTUNITIES 52
5.3.3.1 Increasing use of biodegradable plastics in packaging end-use industry 52
5.3.3.2 Higher growth in emerging economies of Asia Pacific 52
5.3.4 CHALLENGES 53
5.3.4.1 High price and complex production process 53
5.3.4.2 Less durability of biodegradable plastics than traditional plastics 53
5.4 PORTER’S FIVE FORCES ANALYSIS 54
5.4.1 THREAT OF SUBSTITUTES 55
5.4.2 BARGAINING POWER OF SUPPLIERS 55
5.4.3 THREAT OF NEW ENTRANTS 55
5.4.4 BARGAINING POWER OF BUYERS 55
5.4.5 INTENSITY OF COMPETITIVE RIVALRY 55
5.5 KEY STAKEHOLDERS AND BUYING CRITERIA 56
5.5.1 KEY STAKEHOLDERS IN BUYING PROCESS 56
5.5.2 BUYING CRITERIA 56
5.6 VALUE CHAIN ANALYSIS 57
5.6.1 RAW MATERIAL SUPPLY 58
5.6.2 MANUFACTURING 58
5.6.3 DISTRIBUTION 58
5.6.4 END USE 59
5.7 MACROECONOMIC INDICATORS 59
5.7.1 GLOBAL GDP TRENDS 59
5.8 ECOSYSTEM ANALYSIS 61
5.9 CASE STUDY ANALYSIS 62
5.9.1 HOLLER POLLER – WOODEN TOYS WITH BIO-PLASTIC TIRES 62
5.9.2 ENHANCING BIOBASED PLASTICS WITH NATURAL RESIN DERIVATIVES 63
5.9.3 SUSTAINABLE COSMETIC PACKAGING BY RAMAPLAST S.P.A. 63
5.10 REGULATORY LANDSCAPE 64
5.10.1 REGULATIONS 64
5.10.1.1 North America 64
5.10.1.1.1 US 64
5.10.1.1.2 Canada 65
5.10.1.2 Asia Pacific 65
5.10.1.3 Europe 66
5.10.1.4 Middle East & Africa 67
5.10.1.5 South America 67
5.10.2 REGULATORY BODIES, GOVERNMENT BODIES AND OTHER ORGANIZATIONS 68
5.11 TECHNOLOGY ANALYSIS 69
5.11.1 KEY TECHNOLOGIES 69
5.11.1.1 PLA production 69
5.11.1.2 Polyhydroxyalkanoates (PHA) Synthesis 69
5.11.2 COMPLEMENTARY TECHNOLOGIES 70
5.11.2.1 Enzyme-catalyzed polymerization 70
5.11.2.2 Nano-Composite Technologies 70
5.11.3 ADJACENT TECHNOLOGIES 70
5.11.3.1 Recycling and Upcycling Technologies 70
5.11.3.2 Sustainable Packaging Solutions 71
5.12 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 71
5.13 TRADE ANALYSIS (EXPORT/IMPORT)- VOLUME AND TRADE PRICES, 2020-2023 72
5.13.1 TRADE ANALYSIS 72
5.13.2 IMPORT SCENARIO (HS CODE 390770) 72
5.13.3 EXPORT SCENARIO (HS CODE 390770) 73
5.14 KEY CONFERENCES AND EVENTS, 2024–2025 74
5.15 AVERAGE SELLING PRICE, 2021–2029 75
5.15.1 FACTORS AFFECTING PRICES 75
5.15.2 AVERAGE SELLING PRICE TREND BY REGION 76
5.15.3 AVERAGE SELLING PRICE, BY TYPE 77
5.15.4 AVERAGE SELLING PRICE, BY END-USE INDUSTRY 77
5.15.5 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY END-USE INDUSTRY 78
 
5.16 INVESTMENT AND FUNDING SCENARIO 79
5.17 PATENT ANALYSIS 79
5.17.1 METHODOLOGY 79
5.17.2 DOCUMENT TYPE 80
5.17.3 INSIGHTS 81
5.17.4 PATENTS BY BASF SE 82
5.17.5 TOP 10 PATENT OWNERS IN LAST 10 YEARS 82
6 BIODEGRADABLE PLASTICS MARKET, BY TYPE 83
6.1 INTRODUCTION 84
6.2 PLA 86
6.2.1 EXTENSIVE UTILIZATION OF PLA IN PACKAGING INDUSTRY 86
6.3 STARCH BLENDS 86
6.3.1 RISING APPLICATION IN VARIOUS INDUSTRIES 86
6.4 PHA 87
6.4.1 INCREASING USE IN AGRICULTURE AND HORTICULTURE INDUSTRIES 87
6.5 PBAT 87
6.5.1 GROWING APPLICATIONS IN PACKAGING, FLEXIBLE, AND MULCH FILMS 87
6.6 PBS 88
6.6.1 COST-EFFECTIVENESS OF PBS TO INCREASE DEMAND 88
6.7 CELLULOSE BASED 88
6.7.1 INCREASED USE IN PACKAGING INDUSTRY 88
6.8 OTHER TYPES 89
7 BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY 90
7.1 INTRODUCTION 91
7.2 PACKAGING 93
7.2.1 FLEXIBLE PACKAGING 93
7.2.1.1 Long shelf-life, low costs, and eco-friendliness influencing several brands 93
7.2.1.2 Bags 93
7.2.1.3 Pouches 94
7.2.1.4 Films and roll stocks 94
7.2.1.5 Others 94
7.2.2 RIGID PACKAGING 94
7.2.2.1 Growing demand in food & beverages, personal care, and consumer goods industries 94
7.2.2.2 Bottle and jars 94
7.2.2.3 Trays 95
7.2.2.4 Tubs 95
7.2.2.5 Caps and closures 95
7.2.2.6 Others 95
 
7.3 CONSUMER GOODS 95
7.3.1 ELECTRICAL APPLIANCES 95
7.3.1.1 Demand from fast-moving consumer electronics 95
7.3.2 DOMESTIC APPLIANCES 96
7.3.2.1 Demand for biodegradable houseware 96
7.3.3 OTHERS 96
7.4 TEXTILE 96
7.4.1 MEDICAL & HEALTHCARE TEXTILES 97
7.4.1.1 Increasing demand for medical textiles 97
7.4.2 PERSONAL CARE, CLOTHES, AND OTHER TEXTILES 97
7.4.2.1 Increasing demand for thermoplastics fibers 97
7.5 AGRICULTURE AND HORTICULTURE 97
7.5.1 TAPES & MULCH FILMS 98
7.5.1.1 Low labor and disposal costs 98
7.5.2 OTHERS 98
7.6 OTHER END-USE INDUSTRIES 98
8 BIODEGRADABLE PLASTICS MARKET, BY REGION 99
8.1 INTRODUCTION 100
8.2 NORTH AMERICA 102
8.2.1 US 105
8.2.1.1 Increasing focus on sustainable packaging products 105
8.2.2 CANADA 107
8.2.2.1 Growing demand for sustainable packaging 107
8.2.3 MEXICO 109
8.2.3.1 Skilled workforce, geographic advantages, political and economic stability 109
8.3 EUROPE 111
8.3.1 GERMANY 115
8.3.1.1 Growth in packaging industry 115
8.3.2 ITALY 117
8.3.2.1 Growth in various end-use industries 117
8.3.3 FRANCE 119
8.3.3.1 Demand for sustainable packaging 119
8.3.4 UK 121
8.3.4.1 Increasing focus on policy implementation and regulations 121
8.3.5 SPAIN 123
8.3.5.1 Increasing demand for food & beverage packaging 123
8.3.6 REST OF EUROPE 125
8.4 ASIA PACIFIC 127
8.4.1 CHINA 130
8.4.1.1 Ban on single-use plastics 130
8.4.2 JAPAN 132
8.4.2.1 Increasing demand for biodegradable plastic in various end-use industries 132
8.4.3 SOUTH KOREA 134
8.4.3.1 Environmental sustainability 134
8.4.4 INDIA 136
8.4.4.1 Increasing application biodegradable plastics in agricultural industry 136
8.4.5 REST OF ASIA PACIFIC 138
8.5 MIDDLE EAST & AFRICA 140
8.5.1 GCC COUNTRIES 143
8.5.2 SAUDI ARABIA 143
8.5.2.1 Potential growth in upcoming years 143
8.5.3 REST OF GCC COUNTRIES 145
8.5.4 SOUTH AFRICA 146
8.5.4.1 Advancements in bioplastics research and innovation 146
8.5.5 REST OF MIDDLE EAST & AFRICA 148
8.6 SOUTH AMERICA 150
8.6.1 BRAZIL 152
8.6.1.1 Rising demand for sustainable packaging solutions
from agricultural sector 152
8.6.2 ARGENTINA 154
8.6.2.1 Rising demand for environmentally friendly packaging materials 154
8.6.3 REST OF SOUTH AMERICA 156
9 COMPETITIVE LANDSCAPE 158
9.1 INTRODUCTION 158
9.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 2019–2024 159
9.3 MARKET SHARE ANALYSIS, 2023 161
9.4 REVENUE ANALYSIS, 2019–2023 162
9.4.1 BASF SE 162
9.4.2 NATUREWORKS LLC 162
9.4.3 MITSUBISHI CHEMICAL HOLDING CORPORATION 163
9.4.4 TOTALENERGIES CORBION 163
9.4.5 BIOME BIOPLASTICS 163
9.5 COMPANY VALUATION AND FINANCIAL METRICS 164
9.6 BRAND/PRODUCTION COMPARISON 165
9.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 165
9.7.1 STARS 165
9.7.2 EMERGING LEADERS 165
9.7.3 PERVASIVE PLAYERS 166
9.7.4 PARTICIPANTS PLAYERS 166
9.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 167
9.7.5.1 Company footprint 167
9.7.5.2 Type footprint 168
9.7.5.3 End-use industry footprint 169
9.7.5.4 Region footprint 170
9.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 171
9.8.1 PROGRESSIVE COMPANIES 171
9.8.2 RESPONSIVE COMPANIES 171
9.8.3 DYNAMIC COMPANIES 171
9.8.4 STARTING BLOCKS 171
9.8.5 COMPETITIVE BENCHMARKING, STARTUPS/SMES, 2023 173
9.8.5.1 Detailed list of key startups/SMES 173
9.8.5.2 Competitive benchmarking of key startups/SMES 174
9.9 COMPETITIVE SCENARIO 175
9.9.1 PRODUCT LAUNCHES 175
9.9.2 DEALS 177
9.9.3 EXPANSIONS 182
10 COMPANY PROFILES 184
10.1 KEY PLAYERS 184
10.1.1 NATUREWORKS LLC 184
10.1.1.1 Business overview 184
10.1.1.2 Products/Solutions/Services offered 184
10.1.1.3 Recent developments 186
10.1.1.3.1 Product launches 186
10.1.1.3.2 Expansions 188
10.1.1.4 MnM view 189
10.1.1.4.1 Right to win 189
10.1.1.4.2 Strategic choices 189
10.1.1.4.3 Weaknesses and competitive threats 189
10.1.2 BASF SE 190
10.1.2.1 Business overview 190
10.1.2.2 Products/Solutions/Services offered 191
10.1.2.3 Recent developments 192
10.1.2.3.1 Product launches 192
10.1.2.3.2 Deals 193
10.1.2.4 MnM view 194
10.1.2.4.1 Right to win 194
10.1.2.4.2 Strategic choices 194
10.1.2.4.3 Weaknesses and competitive threats 194
10.1.3 TOTALENERGIES CORBION 195
10.1.3.1 Business overview 195
10.1.3.2 Products/Solutions/Services offered 195
 
10.1.3.3 Recent developments 196
10.1.3.3.1 Product launches 196
10.1.3.3.2 Deals 196
10.1.3.3.3 Expansions 197
10.1.3.4 MnM view 198
10.1.3.4.1 Right to win 198
10.1.3.4.2 Strategic choices 198
10.1.3.4.3 Weaknesses and competitive threats 198
10.1.4 MITSUBISHI CHEMICAL GROUP CORPORATION 199
10.1.4.1 Business overview 199
10.1.4.2 Products/solutions/services offered 200
10.1.4.3 Recent developments 201
10.1.4.3.1 Others 201
10.1.4.4 MnM view 202
10.1.4.4.1 Right to win 202
10.1.4.4.2 Strategic choices 202
10.1.4.4.3 Weaknesses and competitive threats 202
10.1.5 BIOME BIOPLASTICS 203
10.1.5.1 Business overview 203
10.1.5.2 Products/Solutions/Services offered 203
10.1.5.3 Recent developments 204
10.1.5.3.1 Deals 204
10.1.5.3.2 Others 204
10.1.5.4 MnM view 205
10.1.5.4.1 Right to win 205
10.1.5.4.2 Strategic choices 205
10.1.5.4.3 Weaknesses and competitive threats 205
10.1.6 PLANTIC 206
10.1.6.1 Business overview 206
10.1.6.2 Products/Solutions/Services offered 206
10.1.6.3 MnM view 207
10.1.7 FKUR 208
10.1.7.1 Business overview 208
10.1.7.2 Products/Solutions/Services offered 208
10.1.7.3 Recent developments 210
10.1.7.3.1 Deals 210
10.1.7.3.2 Others 211
10.1.7.4 MnM view 211
10.1.8 DANIMER SCIENTIFIC 212
10.1.8.1 Business overview 212
10.1.8.2 Products/Solutions/Services offered 213
 
10.1.8.3 Recent developments 214
10.1.8.3.1 Deals 214
10.1.8.3.2 Others 215
10.1.8.4 MnM view 216
10.1.9 TORAY INDUSTRIES, INC. 217
10.1.9.1 Business overview 217
10.1.9.2 Products/Solutions/Services offered 218
10.1.9.3 Recent developments 219
10.1.9.3.1 Deals 219
10.1.9.4 MnM view 219
10.1.10 NOVAMONT 220
10.1.10.1 Business overview 220
10.1.10.2 Products/Solutions/Services offered 220
10.1.10.3 Recent developments 221
10.1.10.3.1 Product launches 221
10.1.10.3.2 Expansions 221
10.1.10.4 MnM view 222
10.2 OTHER PLAYERS 223
10.2.1 BIO ON 223
10.2.2 ZHEJIANG HISUN BIOMATERIALS CO., LTD. 223
10.2.3 BIO-FED 224
10.2.4 GREEN DOT BIOPLASTICS 225
10.2.5 SPHERE 226
10.2.6 TIANAN BIOLOGIC MATERIALS CO., LTD. 226
10.2.7 SUCCINITY 227
10.2.8 CARBIOLICE 227
10.2.9 AGRANA 228
10.2.10 FUTERRO 228
10.2.11 EASTMAN CHEMICAL COMPANY 229
10.2.12 INGEVITY 230
10.2.13 PTT MCC BIOCHEM CO., LTD. 231
10.2.14 YIELD10 BIOSCIENCE, INC. 232
10.2.15 NATUR TEC 233
11 APPENDIX 234
11.1 DISCUSSION GUIDE 234
11.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 236
11.3 CUSTOMIZATION OPTIONS 238
11.4 RELATED REPORTS 238
11.5 AUTHOR DETAILS 239