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 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.3 STUDY SCOPE 25
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 25
1.3.2 INCLUSIONS AND EXCLUSIONS 26
1.3.3 YEARS CONSIDERED 26
1.3.4 CURRENCY CONSIDERED 27
1.3.5 UNITS CONSIDERED 27
1.4 STAKEHOLDERS 27
1.5 SUMMARY OF CHANGES 27
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
2.1.1 SECONDARY DATA 30
2.1.1.1 Key secondary sources 30
2.1.1.2 Key data from secondary sources 30
2.1.2 PRIMARY DATA 31
2.1.2.1 Key data from primary sources 31
2.1.2.2 Key industry insights 32
2.1.2.3 Breakdown of interviews with experts 32
2.2 MARKET SIZE ESTIMATION 33
2.2.1 BOTTOM-UP APPROACH 34
2.2.2 TOP-DOWN APPROACH 34
2.3 DATA TRIANGULATION 35
2.4 RESEARCH ASSUMPTIONS 36
2.5 FACTOR ANALYSIS 36
2.6 GROWTH FORECAST 36
2.6.1 SUPPLY SIDE 37
2.6.2 DEMAND SIDE 37
2.7 RESEARCH LIMITATIONS 37
2.8 RISK ASSESSMENT 37
3 EXECUTIVE SUMMARY 38
4 PREMIUM INSIGHTS 42
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BIODEGRADABLE PLASTICS MARKET 42
4.2 BIODEGRADABLE PLASTICS MARKET, BY TYPE 42
4.3 BIODEGRADABLE PLASTICS MARKET, END-USE INDUSTRY 43
4.4 BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY AND REGION 43
4.5 BIODEGRADABLE PLASTICS MARKET, BY KEY COUNTRY 44
5 MARKET OVERVIEW 45
5.1 INTRODUCTION 45
5.2 MARKET DYNAMICS 45
5.2.1 DRIVERS 46
5.2.1.1 Government focus on new policies and regulations 46
5.2.1.2 Consumers with strong purchasing power and commitment
to environmental sustainability 49
5.2.1.3 Growing demand for polyhydroxyalkanoates (PHA) in
pharmaceutical industry 49
5.2.1.4 Increasing applications of eco-friendly products 49
5.2.2 RESTRAINTS 50
5.2.2.1 Volatility in raw material prices 50
5.2.2.2 Higher price of biodegradable plastics than that of
conventional plastics 50
5.2.3 OPPORTUNITIES 50
5.2.3.1 Increasing use of biodegradable plastics in packaging
end-use industry 50
5.2.3.2 Growing popularity of poly(lactic-co-glycolic acid) (PLGA)
in pharmaceutical industry 51
5.2.3.3 Higher growth in emerging economies of Asia Pacific 51
5.2.4 CHALLENGES 51
5.2.4.1 High price and complex production process 51
5.2.4.2 Less durability of biodegradable plastics than traditional plastics 52
5.3 PORTER’S FIVE FORCES ANALYSIS 52
5.3.1 THREAT OF SUBSTITUTES 53
5.3.2 BARGAINING POWER OF SUPPLIERS 53
5.3.3 THREAT OF NEW ENTRANTS 53
5.3.4 BARGAINING POWER OF BUYERS 53
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 54
5.4 VALUE CHAIN ANALYSIS 54
5.4.1 RAW MATERIAL SUPPLY 55
5.4.2 MANUFACTURING 55
5.4.3 DISTRIBUTION 55
5.4.4 END USE 55
5.5 MACROECONOMIC INDICATORS 55
5.5.1 GLOBAL GDP TRENDS 55
5.6 ECOSYSTEM ANALYSIS 58
5.7 PRICING ANALYSIS 59
5.7.1 PRICING ANALYSIS BY FIRST QUARTER’24 59
 
5.8 CASE STUDY ANALYSIS 62
5.8.1 HOLLER POLLER – WOODEN TOYS WITH BIO-PLASTIC TIRES 62
5.8.2 ENHANCING BIOBASED PLASTICS WITH NATURAL RESIN DERIVATIVES 62
5.8.3 SUSTAINABLE COSMETIC PACKAGING BY RAMAPLAST S.P.A. 63
5.9 REGULATORY LANDSCAPE 63
5.9.1 REGULATIONS 63
5.9.1.1 North America 64
5.9.1.1.1 US 64
5.9.1.1.2 Canada 64
5.9.1.2 Asia Pacific 65
5.9.1.3 Europe 65
5.9.1.4 Middle East & Africa 66
5.9.1.5 South America 67
5.9.2 REGULATORY BODIES, GOVERNMENT BODIES AND OTHER ORGANIZATIONS 68
5.10 TECHNOLOGY ANALYSIS 68
5.10.1 KEY TECHNOLOGIES 69
5.10.1.1 PLA production 69
5.10.1.2 Polyhydroxyalkanoates (PHA) synthesis 69
5.10.2 COMPLEMENTARY TECHNOLOGIES 69
5.10.2.1 Enzyme-catalyzed polymerization 69
5.10.2.2 Nano-composite technologies 70
5.10.3 ADJACENT TECHNOLOGIES 70
5.10.3.1 Recycling and upcycling technologies 70
5.10.3.2 3D printing 70
5.10.3.3 Sustainable packaging solutions 71
5.11 TRADE ANALYSIS (EXPORT/IMPORT)- VOLUME AND TRADE PRICES, 2020-2023 71
5.11.1 TRADE ANALYSIS 71
5.11.2 IMPORT SCENARIO (HS CODE 390770) 71
5.11.3 EXPORT SCENARIO (HS CODE 390770) 72
5.12 KEY CONFERENCES AND EVENTS, 2024–2025 72
5.13 PATENT ANALYSIS 73
5.13.1 METHODOLOGY 73
5.13.2 DOCUMENT TYPE 73
5.13.3 INSIGHTS 75
5.13.4 PATENTS BY BASF SE 76
5.13.5 TOP 10 PATENT OWNERS IN LAST 10 YEARS 76
6 BIODEGRADABLE PLASTICS MARKET, BY TYPE 77
6.1 INTRODUCTION 78
6.2 PLA 80
6.2.1 EXTENSIVE UTILIZATION OF PLA IN PACKAGING INDUSTRY 80
6.3 STARCH BLENDS 80
6.3.1 RISING APPLICATION IN VARIOUS INDUSTRIES 80
6.4 PHA 81
6.4.1 INCREASING USE IN AGRICULTURE AND HORTICULTURE INDUSTRIES 81
6.5 PBAT 81
6.5.1 GROWING APPLICATIONS IN PACKAGING, FLEXIBLE, AND MULCH FILMS 81
6.6 PBS 82
6.6.1 COST-EFFECTIVENESS OF PBS TO INCREASE DEMAND 82
6.7 CELLULOSE BASED 82
6.7.1 INCREASED USE IN PACKAGING INDUSTRY 82
6.8 OTHER TYPES 83
7 BIODEGRADABLE PLASTICS MARKET, BY END-USE INDUSTRY 84
7.1 INTRODUCTION 85
7.2 PACKAGING 87
7.2.1 FLEXIBLE PACKAGING 87
7.2.1.1 Long shelf-life, low costs, and eco-friendliness influencing
several brands 87
7.2.1.2 Bags 87
7.2.1.3 Pouches 87
7.2.1.4 Films and roll stocks 88
7.2.1.5 Others 88
7.2.2 RIGID PACKAGING 88
7.2.2.1 Growing demand in food & beverages, personal care, and
consumer goods industries 88
7.2.2.2 Bottle and jars 88
7.2.2.3 Trays 88
7.2.2.4 Tubs 89
7.2.2.5 Caps and closures 89
7.2.2.6 Others 89
7.3 CONSUMER GOODS 89
7.3.1 ELECTRICAL APPLIANCES 89
7.3.1.1 Demand from fast-moving consumer electronics 89
7.3.2 DOMESTIC APPLIANCES 90
7.3.2.1 Demand for biodegradable houseware 90
7.3.3 OTHERS 90
7.4 TEXTILE 90
7.4.1 MEDICAL & HEALTHCARE TEXTILES 91
7.4.1.1 Increasing demand for medical textiles 91
7.4.2 PERSONAL CARE, CLOTHES, AND OTHER TEXTILES 91
7.4.2.1 Increasing demand for thermoplastics fibers 91
7.5 AGRICULTURE AND HORTICULTURE 91
7.5.1 TAPES & MULCH FILMS 92
7.5.1.1 Low labor and disposal costs 92
7.5.2 OTHERS 92
7.6 OTHER END-USE INDUSTRIES 92
8 BIODEGRADABLE PLASTICS MARKET, BY REGION 93
8.1 INTRODUCTION 94
8.2 NORTH AMERICA 96
8.2.1 US 99
8.2.1.1 Increasing focus on sustainable packaging products 99
8.2.2 CANADA 101
8.2.2.1 Growing demand for sustainable packaging 101
8.2.3 MEXICO 103
8.2.3.1 Skilled workforce, geographic advantages, political and
economic stability 103
8.3 EUROPE 105
8.3.1 GERMANY 109
8.3.1.1 Growth in packaging industry 109
8.3.2 ITALY 111
8.3.2.1 Growth in various end-use industries 111
8.3.3 FRANCE 113
8.3.3.1 Demand for sustainable packaging 113
8.3.4 UK 115
8.3.4.1 Increasing focus on policy implementation and regulations 115
8.3.5 SPAIN 117
8.3.5.1 Increasing demand for food & beverage packaging 117
8.3.6 REST OF EUROPE 119
8.4 ASIA PACIFIC 121
8.4.1 CHINA 124
8.4.1.1 Ban on single-use plastics 124
8.4.2 JAPAN 126
8.4.2.1 Increasing demand for biodegradable plastic in various
end-use industries 126
8.4.3 SOUTH KOREA 128
8.4.3.1 Environmental sustainability 128
8.4.4 INDIA 130
8.4.4.1 Increasing application biodegradable plastics in agricultural industry 130
8.4.5 REST OF ASIA PACIFIC 132
8.5 MIDDLE EAST & AFRICA 134
8.5.1 GCC COUNTRIES 137
8.5.2 SAUDI ARABIA 137
8.5.2.1 Potential growth in upcoming years 137
8.5.3 REST OF GCC COUNTRIES 139
8.5.4 SOUTH AFRICA 140
8.5.4.1 Advancements in bioplastics research and innovation 140
8.5.5 REST OF MIDDLE EAST & AFRICA 142
8.6 SOUTH AMERICA 144
8.6.1 BRAZIL 146
8.6.1.1 Rising demand for sustainable packaging solutions from
agricultural sector 146
8.6.2 ARGENTINA 148
8.6.2.1 Rising demand for environmentally friendly packaging materials 148
8.6.3 REST OF SOUTH AMERICA 150
9 COMPETITIVE LANDSCAPE 152
9.1 INTRODUCTION 152
9.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 2019–2024 153
9.3 REVENUE ANALYSIS, 2019–2023 155
9.4 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 156
9.4.1 STARS 156
9.4.2 EMERGING LEADERS 156
9.4.3 PERVASIVE PLAYERS 157
9.4.4 PARTICIPANTS PLAYERS 157
9.4.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 158
9.4.5.1 Company footprint 158
9.4.5.2 Type footprint 159
9.4.5.3 End-use industry footprint 160
9.4.5.4 Region footprint 161
9.5 MARKET SHARE ANALYSIS, 2023 162
9.6 COMPETITIVE SCENARIO 162
9.6.1 PRODUCT LAUNCHES 162
9.6.2 DEALS 165
9.6.3 EXPANSIONS 170
10 COMPANY PROFILES 173
10.1 KEY PLAYERS 173
10.1.1 NATUREWORKS LLC 173
10.1.1.1 Business overview 173
10.1.1.2 Products/Solutions/Services offered 173
10.1.1.3 Recent developments 175
10.1.1.3.1 Product launches 175
10.1.1.3.2 Deals 175
10.1.1.3.3 Expansions 177
10.1.1.4 MnM view 178
10.1.1.4.1 Right to win 178
10.1.1.4.2 Strategic choices 178
10.1.1.4.3 Weaknesses and competitive threats 178
 
10.1.2 BASF SE 179
10.1.2.1 Business overview 179
10.1.2.2 Products/Solutions/Services offered 180
10.1.2.3 Recent developments 181
10.1.2.3.1 Product launches 181
10.1.2.3.2 Deals 182
10.1.2.4 MnM view 183
10.1.2.4.1 Right to win 183
10.1.2.4.2 Strategic choices 183
10.1.2.4.3 Weaknesses and competitive threats 184
10.1.3 TOTALENERGIES CORBION 185
10.1.3.1 Business overview 185
10.1.3.2 Products/Solutions/Services offered 185
10.1.3.3 Recent developments 186
10.1.3.3.1 Product launches 186
10.1.3.3.2 Deals 186
10.1.3.3.3 Expansions 187
10.1.3.4 MnM view 188
10.1.3.4.1 Right to win 188
10.1.3.4.2 Strategic choices 188
10.1.3.4.3 Weaknesses and competitive threats 188
10.1.4 MITSUBISHI CHEMICAL GROUP CORPORATION 189
10.1.4.1 Business overview 189
10.1.4.2 Products/solutions/services offered 190
10.1.4.3 Recent developments 191
10.1.4.3.1 Others 191
10.1.4.4 MnM view 192
10.1.4.4.1 Right to win 192
10.1.4.4.2 Strategic choices 192
10.1.4.4.3 Weaknesses and competitive threats 192
10.1.5 BIOME BIOPLASTICS 193
10.1.5.1 Business overview 193
10.1.5.2 Products/Solutions/Services offered 193
10.1.5.3 Recent developments 194
10.1.5.3.1 Deals 194
10.1.5.3.2 Others 194
10.1.5.4 MnM view 195
10.1.5.4.1 Right to win 195
10.1.5.4.2 Strategic choices 195
10.1.5.4.3 Weaknesses and competitive threats 195
 
10.1.6 PLANTIC 196
10.1.6.1 Business overview 196
10.1.6.2 Products/Solutions/Services offered 196
10.1.6.3 Recent developments 197
10.1.6.3.1 Deals 197
10.1.6.4 MnM view 197
10.1.7 FKUR 198
10.1.7.1 Business overview 198
10.1.7.2 Products/Solutions/Services offered 198
10.1.7.3 Recent developments 200
10.1.7.3.1 Deals 200
10.1.7.3.2 Others 201
10.1.7.4 MnM view 201
10.1.8 DANIMER SCIENTIFIC 202
10.1.8.1 Business overview 202
10.1.8.2 Products/Solutions/Services offered 203
10.1.8.3 Recent developments 204
10.1.8.3.1 Product launches 204
10.1.8.3.2 Deals 204
10.1.8.3.3 Others 206
10.1.8.4 MnM view 206
10.1.9 TORAY INDUSTRIES, INC. 207
10.1.9.1 Business overview 207
10.1.9.2 Products/Solutions/Services offered 208
10.1.9.3 Recent developments 209
10.1.9.3.1 Product launches 209
10.1.9.3.2 Deals 209
10.1.9.4 MnM view 210
10.1.10 NOVAMONT 211
10.1.10.1 Business overview 211
10.1.10.2 Products/Solutions/Services offered 211
10.1.10.3 Recent developments 212
10.1.10.3.1 Product launches 212
10.1.10.3.2 Expansions 212
10.1.10.4 MnM view 213
10.2 OTHER PLAYERS 214
10.2.1 BIO ON 214
10.2.2 ZHEJIANG HISUN BIOMATERIALS CO., LTD. 214
10.2.3 BIO-FED 215
10.2.4 GREEN DOT BIOPLASTICS 216
10.2.5 SPHERE 217
10.2.6 TIANAN BIOLOGIC MATERIALS CO., LTD. 217
10.2.7 SUCCINITY 218
10.2.8 CARBIOLICE 218
10.2.9 AGRANA 219
10.2.10 FUTERRO 219
10.2.11 EASTMAN CHEMICAL COMPANY 220
10.2.12 INGEVITY 221
10.2.13 PTT MCC BIOCHEM CO., LTD. 222
10.2.14 YIELD10 BIOSCIENCE, INC. 223
10.2.15 NATUR TEC 224
11 APPENDIX 225
11.1 DISCUSSION GUIDE 225
11.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 227
11.3 CUSTOMIZATION OPTIONS 229
11.4 RELATED REPORTS 229
11.5 AUTHOR DETAILS 230