Biodegradable Plastics Market Analysis

The market is segmented by type into starch-based, PBAT, PBS, PLA, and PHA, out of which, the starch-based segment is anticipated to hold the largest share in the global biodegradable plastics market on account of the increasing usage of this plastic in industries such as automobiles, packaging and agriculture. In addition, the PHA segment is predicted to witness the highest growth by the end of 2030 ascribing to the growing applications of PHA in pharmaceutical industry for medical implants and drug encapsulation. Moreover, on the basis of end user, the packaging & bags segment is assessed to grab the largest share over the forecast period owing to the rising replacement of conventional plastics by biodegradable ones in food packaging for the production of boxes, plates and wraps.

Our in-depth analysis of the global market includes the following segments

By Type

Starch-Based
PBAT
PBS
PLA
PHA

By End User

Packaging & Bags
Consumer Goods
Agriculture & Horticulture
Others

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of biodegradable plastics is assessed at USD 6.09 billion.

Biodegradable Plastics Market size was valued at USD 5.68 billion in 2023 and is anticipated to reach USD 17.62 billion by 2036, expanding at around 9.1% CAGR during the forecast period i.e., between 2024-2036. The market growth is impelled by growing governmental initiatives to eliminate single use plastic and rising awareness about harmful effects of plastic.

Asia Pacific is set to account for largest revenue share by 2036, on the back of increasing disposable income of the people and high availability of cheap raw materials in the region.

The major players in the market are BASF SE, Mitsubishi Chemical Corporation, Total Corbion PLA, NatureWorks LLC, Biome Technologies plc, and others.

Biodegradable Plastics Market Analysis