Renub Research has recently published a report named ” Biodegradable Plastic Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2030,” providing a detailed industry analysis that consists of market share insights. Furthermore, the report encompasses a study of competitors and regions and the recent growth in the Biodegradable Plastic Market.
The market for biodegradable plastics will expand at a CAGR of 13.38% between 2022 and 2030. As consumers demand environmentally friendly alternatives, biodegradable plastics are one class of materials that are growing in popularity as replacements. Biodegradable plastics can be broken down by microbes, chewed up, and converted into biomass, water, and carbon dioxide (or, in the absence of oxygen, methane instead of CO2), as opposed to the stability for hundreds of years that we valued in plastic when we first started using it. Biodegradable Plastic Market size is anticipated to reach US$ 14.43 Billion by 2030 as a result of rising environmental concerns, consumer demand for environmentally friendly packaging options, and government initiatives promoting eco-friendly alternatives to conventional plastics.
It is no secret that plastic is bad for the environment. It takes hundreds of years to decompose, and while it does, it pollutes landfills and our oceans. Marine animals are particularly vulnerable to the effects of plastic pollution because they may mistake it for food and ingest it. They may starve or become entangled and drown as a result.
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Popular plastics manufacturers have recently shown a growing interest in providing consumers and businesses with a more environmentally friendly option. Energy, agriculture, and fuels are just a few of the industries where this trend is clearly visible.
The government’s ban on single-use plastics and the public’s growing awareness of the harmful effects of plastic waste are two major trends that are fuelling market expansion. Increased use of biodegradable plastics in packaging and agriculture is also anticipated to support the growth. Plastics that do not break down are a worldwide problem. Governments around the world are encouraging the use of biodegradable plastics and banning single-use plastics to combat this problem. The fact that biodegradable plastics are environmentally friendly also makes consumers willing to pay more for them. The aforementioned elements working together are giving the market a boost.
Starch blends in the global biodegradable plastics market have gained popularity.
Given that starch is more affordable than other biodegradable plastics, starch blends are cost-effective. The widespread availability of starch makes it simpler to find and produce these blends. Starch blends also have good mechanical qualities, which makes them appropriate for a variety of applications. Traditional plastics can be replaced with biodegradable ones thanks to their ability to be broken down by environmental microorganisms. Furthermore, their popularity has been boosted by benevolent regulations and a rising consciousness of environmental issues. Starch blends are anticipated to keep gaining ground in the market for biodegradable plastics as a result of developing technology and rising demand for sustainable substitutes.
Material Type – Biodegradable Plastic Market & Volume have been covered from 6 viewpoints:
1. PBAT
2. PBS
3. PLA
4. PHA
5. Starch Blends
6. Others
Packaging is a significant global market driver for biodegradable plastics because of rising consumer demand for eco-friendly options.
Biodegradable plastics are better for the environment than traditional plastics because they degrade in the environment without leaving any harmful residue, which makes them perfect for eco-friendly packaging. Government efforts to reduce the use of plastic have increased the options for biodegradable plastics. Their performance and cost-effectiveness have also improved thanks to manufacturing innovations, increasing demand, particularly in the packaging industry. Food packaging is in greater demand as the world’s population rises, and biodegradable plastics offer a long-term solution without having a negative impact on the environment.
Applications – Biodegradable Plastic Market have been covered from 4 viewpoints:
1. Packaging
2. Agriculture
3. Consumer Goods
4. Others
France is anticipated to prosper in the global biodegradable plastic industry thanks to government support.
The burgeoning of biodegradable plastics has strong backing from the French government. The development of the industry has been accelerated by a €100 million investment in biodegradable plastics by the French government. In France, 70% of consumers are also willing to pay more for biodegradable plastics, which increases demand. Businesses in France are actively involved in the development and use of biodegradable plastics, and technological advancements have increased their performance and cost-effectiveness. The French regulatory framework, which includes tax breaks for the use of biodegradable plastic, further supports the industry’s growth prospects.
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Country – Biodegradable Plastic Market have been covered from all the 23 Countries:
1. North America
1.1 United States
1.2 Canada
2 Latin America
2.1 Argentina
2.2 Brazil
2.3 Mexico
2.4 Colombia
3 Europe
3.1 Germany
3.2 United Kingdom
3.3 France
3.4 Italy
3.5 Netherlands
3.6 Spain
4 Asia Pacific
4.1 China
4.2 South Korea
4.3 Japan
4.4 India
4.5 Indonesia
4.6 Malaysia
4.7 Australia
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 Israel
5.4 South Africa
Competitive Landscape.
Total Corbion, Mitsubishi Chemical Holding Corporation, Toray Industries, BASF SE, Green Dot Bioplastics, and Amcor Limited are the leaders for global biodegradable plastics market.
Company Insights:
• Overview
• Recent Developments
• Sales Analysis
Companies Covered:
1. Total Corbion
2. Mitsubishi Chemical Holding Corporation
3. Toray Industries
4. BASF SE
5. Green Dot Bioplastics
6. Amcor Limited
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