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Biodegradable Plastics Market Trends

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Report ID: 3374
Published Date: Aug 29, 2024
Report Format: PDF, PPT

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Biodegradable Plastics Market Trends

Growth Drivers

Growing Governmental Initiatives to Eliminate Single Use Plastic
Rising Awareness about Harmful Effects of Plastic

Challenges

Higher Cost of Biodegradable Plastics

Biodegradable Plastics Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	9.1%
Base Year Market Size (2023)	USD 5.68 billion
Forecast Year Market Size (2036)	USD 17.62 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Biodegradable Plastics Market Size & Share, Growth Forecast 2036

Author Credits: Parul Atri

Report ID: 3374
Published Date: Aug 29, 2024
Report Format: PDF, PPT

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.

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