Biodegradable Plastics Sector: Growth Drivers and Challenges
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 |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
9.1% |
|
Base Year Market Size (2024) |
USD 6.2 billion |
|
Forecast Year Market Size (2037) |
USD 19.24 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
In the year 2025, the industry size of biodegradable plastics is evaluated at USD 6.68 billion.
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.
Asia Pacific industry is anticipated to account for largest revenue share by 2037, 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.
