Biodegradable plastic is stirring up changes in how packaging is getting done across the world. This has the potential to emerge as a solution to the growing concerns regarding the environment. The biodegradable plastic market is witnessing a surge in the number of takers as it is easily percolating across various industries. Plastic has this feature of protecting objects from moisture and abrasions, and as a package, it is lightweight, which is why a lot of companies prefer plastic as the choicest preference. However, its biodegradability is a huge issue. This has inspired developers into innovating biodegradable plastic that can be used without causing any hazards. 

Growing awareness regarding the negative impacts of plastic has inspired both industrialists and governments into adopting biodegradable plastics and increase the amount of investment. However, a major restraining factor for the market can be the price of biodegradable plastic as it can put a dent on the profit margin. This is a hurdle that some of the companies are finding difficult to overcome. But stringent government regulations in many countries are going to make the percolation of the biodegradable plastic market easier. Its less toxic nature is a positive aspect that many industries would like to explore, which can take the market forward. The global biodegradable plastic market can achieve an impressive CAGR of 21.3% in between 2019 to 2026, which the report mentions as the forecast period.

Key Players:

Players profiled in the report for biodegradable plastics are Novamont S.p.A., BASF SE, DowDuPont Inc, Corbion N.V., Plantic, Natureworks, Eastman Chemical Company, Biome Technologies plc, and Danimer Scientific. 

Other players operating in this biodegradable plastic market include Biotec Pvt. Ltd., BALSON INDUSTRIES, BioSphere Plastic LLC, BIOGREEN PACKAGING PRIVATE LIMITED, and Symphony Polymers Pvt. Ltd.

Global Biodegradable Plastic Market By Region

The report has several North America described as a crucial market influencer. Several countries from the region can promote the intake capacity of the biodegradable plastic. The US and Canada would increase the intake with their robust infrastructure, better industrial setup, and high investment capacity. In addition, stringent regulations would play a better role in ensuring a hike in the intake. Europe is going to be strong as well with countries like Germany, France, the UK, and others taking measured steps to implement environment-friendly procedures. One such step would be the proper incorporation of biodegradable plastic. 

The Asia Pacific market would find the growth quite impressive as several countries like India, China, Japan, South Korea, and Australia are taking steps to include biodegradable plastics in different fields. 

Key Market Segments

By Type

• 
  PLA


• 
  PBAT


• 
  PBS


• 
  PHA


• 
  Starch Blends


• 
  Others

By Application

• 
  Packaging


• 
  Agriculture


• 
  Consumer Durable


• 
  Textile


• 
  Others

By Region

• 
  North America
  
  
  
  • 
    U.S.
  
  
  • 
    Canada
  
  
  • 
    Mexico
  
  
  
  


• 
  Europe
  
  
  
  • 
    Germany
  
  
  • 
    France
  
  
  • 
    Spain
  
  
  • 
    Itlay
  
  
  • 
    UK
  
  
  • 
    Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • 
    China
  
  
  • 
    Japan
  
  
  • 
    India
  
  
  • 
    South Korea
  
  
  • 
    Australia
  
  
  • 
    Rest of Asia-Pacific
  
  
  
  


• 
  LAMEA
  
  
  
  • 
    Brazil
  
  
  • 
    South Africa
  
  
  • 
    Saudi Arabia
  
  
  • 
    UAE
  
  
  • 
    Rest of LAMEA
  
  
  
  

Key Benefits for Stakeholders

• 
  Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building


• 
  The report outlines the current trends and future scenario of the market from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets


• 
  Major countries in the region have been mapped according to their individual revenue contribution to the regional market


• 
  The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study


• 
  The profiles of key players along with their key strategic developments are enlisted in the report