Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Biodegradable Plastics Market size was valued at USD 6.2 billion in 2024 and is set to exceed USD 19.24 billion by 2037, expanding at over 9.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of biodegradable plastics is evaluated at USD 6.68 billion.
The growth of the market can be attributed to the rising governmental initiatives to eliminate single use plastic, growing awareness about the hazardous effects of plastic waste around the world, and stringent regulatory framework against the usage of conventional plastic products. For instance, the European Commission launched the single-use plastics EU directive in 2019, which is aimed at tackling 10 single use plastic items found most commonly on European beaches, and promote sustainable alternatives. Furthermore, surge in the use of biodegradable packaging in agriculture and food & beverage sectors is also projected to accelerate the growth of the market in the forthcoming years. Along with these, rise in consumer willingness to pay more for biodegradable materials as a result of their environment friendliness is also evaluated to offer ample growth opportunities to the market in the near future.
