Growing Demand for Sustainable Packaging to Boost Market Growth
Category: Chemicals & Materials Published Date : Feb-23 ID: CVC-79333 Format: PDF Pages: 300
Report Highlights
According to a research survey conducted by ChemView Consulting, in 2023 Biobased Biodegradable Plastics Market was worth US $ 2,706.6 Mn. The market is expected to grow at a CAGR of 13.3% between 2023 and 2033 to hit US $ 9,434.6 Mn by 2033 end.
Key Market Trends
Growing Demand for Biobased Biodegradable Plastics
The demand for biobased biodegradable plastics is on the rise as consumers become more aware of the environmental impact of traditional plastics. Companies are investing in research and development to create more sustainable and eco-friendly alternatives to traditional plastics, and biobased biodegradable plastics are becoming increasingly popular.
Biobased Biodegradable Plastics Becoming Mainstream
As the demand for biobased biodegradable plastics grows, more companies are beginning to adopt them as a viable alternative to traditional plastics. This is leading to an increase in the availability of biobased biodegradable plastics, making them more accessible to consumers. This trend is expected to continue as more companies recognize the environmental benefits of biobased biodegradable plastics.
Market Drivers
Increasing Awareness of Environmental Issues
The increasing awareness of environmental issues is driving the demand for biobased biodegradable plastics. Consumers are becoming more conscious of the environmental impact of their purchases and are increasingly opting for biobased biodegradable plastics over traditional plastics. This is due to the fact that biobased biodegradable plastics are made from renewable resources and are biodegradable, making them a more sustainable option.
Growing Demand for Sustainable Packaging Solutions
The growing demand for sustainable packaging solutions is driving the demand for biobased biodegradable plastics. Consumers are increasingly looking for packaging solutions that are not only functional but also sustainable. Biobased biodegradable plastics are a great option as they are made from renewable resources and are biodegradable, making them a more sustainable option.
Government Support for Biobased Biodegradable Plastics
The government is providing support for biobased biodegradable plastics, which is driving the demand for these products. Governments are providing incentives and subsidies to encourage the use of biobased biodegradable plastics, which is helping to increase the demand for these products. This is helping to create a more sustainable future and is driving the demand for biobased biodegradable plastics.
Segmentation Insights
After conducting a thorough analysis of the Biobased Biodegradable Plastics Market, we have identified the top three trending segments in the industry. These segments are experiencing significant growth, high demand, and widespread adoption.
Most Popular (Fastest Growth Rate)
Polyester (Application)
Packaging Polyester is the most popular product type in the Biobased Biodegradable Plastics Market due to its extensive usage in the packaging industry. Biobased biodegradable polyester is made from renewable resources such as corn starch, and it is biodegradable and compostable, making it an eco-friendly alternative to traditional petroleum-based plastics. The demand for biobased biodegradable polyester is primarily driven by the packaging industry, which accounts for the largest share of the biobased biodegradable plastics market. Biobased biodegradable polyester is used to make a variety of packaging products, including bags, pouches, and containers, among others.
Most Selling (Largest Market Share)
Starch Blends (Application)
Fibres Starch blends are the most selling product type in the Biobased Biodegradable Plastics Market due to their extensive usage in the fibres industry. Biobased biodegradable starch blends are made from natural materials such as corn and potato starch, and they are biodegradable and compostable, making them an eco-friendly alternative to traditional plastics. The demand for biobased biodegradable starch blends is primarily driven by the fibres industry, which includes products such as textiles, non-woven fabrics, and hygiene products. Biobased biodegradable starch blends are used to make these products more sustainable and eco-friendly.
Trending (Gaining Traction)
Poly Lactic Acid (PLA) (Application)
Healthcare Poly Lactic Acid (PLA) is gaining significant traction in the Biobased Biodegradable Plastics Market due to its usage in the healthcare industry. Biobased biodegradable PLA is made from renewable resources such as corn starch, and it is biodegradable and compostable, making it an eco-friendly alternative to traditional plastics. The demand for biobased biodegradable PLA is increasing in the healthcare industry, where it is used to make a variety of products, including surgical sutures, drug delivery systems, and implants, among others. Biobased biodegradable PLA offers a unique combination of biocompatibility, biodegradability, and sustainability, making it an attractive choice for the healthcare industry.
Regional Insights
Biobased Biodegradable Plastics: A Greener Future for North America
North America is leading the way in the biobased biodegradable plastics market. With the increasing demand for sustainable and eco-friendly solutions, biobased biodegradable plastics are becoming increasingly popular in the region. These plastics are made from renewable resources such as corn, sugarcane, and other plant-based materials, and are biodegradable, meaning they can be broken down by microorganisms in the environment. This makes them a great alternative to traditional plastics, which are made from petroleum-based materials and can take hundreds of years to decompose. The use of biobased biodegradable plastics in North America is expected to grow significantly in the coming years, as more companies and consumers become aware of the environmental benefits of these materials.
Europe: Biobased Biodegradable Plastics: A Sustainable Solution
Europe is also making strides in the biobased biodegradable plastics market. With the European Union’s commitment to reducing plastic waste and promoting sustainability, biobased biodegradable plastics are becoming increasingly popular in the region. These plastics are made from renewable resources such as corn, sugarcane, and other plant-based materials, and are biodegradable, meaning they can be broken down by microorganisms in the environment. This makes them a great alternative to traditional plastics, which are made from petroleum-based materials and can take hundreds of years to decompose. The use of biobased biodegradable plastics in Europe is expected to grow significantly in the coming years, as more companies and consumers become aware of the environmental benefits of these materials.
Research Scope/Taxonomy
Market Analysis by Product type:
Market Analysis by Application:
Market analysis by region:
Key Companies Profiled
1.1. Global Market Snapshot
1.2. Key Success Factors
1.3. Strategic Analysis and Recommendations
2.1. Market Taxonomy
2.2. Market Definitions
3.1. Preliminary Investigation & Research Product Type
3.2. Secondary Research & Primary Research
3.3. Data Analysis & Econometric Modelling
3.4. Expert Data Validation
4.1. Supply-Side Trends
4.2. Demand-Side Trends
5.1. Global Market Value (US$ Mn) Analysis, 2017 – 2032
5.2. Incremental $ Opportunity Index, 2022-2032
5.3. Global Market Volume (Tons) Analysis, 2017 – 2032
6.1. Regional Level Pricing Analysis and Forecast
6.1.1. Manufacturers Level Pricing
6.1.2. Distributor Level Pricing
6.2. Global Pricing Analysis Benchmark
6.3. Cost Breakdown Analysis
7.1. Cross Analysis of Application W.R.T. End User Type
8.1. Regional Supply Vs. Demand Gap Assessment
8.2. Top Producing Countries Analysis
9.1. Macroeconomic Factors
9.2. Forecast Factors
9.3. Market Dynamics
9.3.1. Driver
9.3.2. Restraint
9.3.3. Opportunity
9.4. Supply Chain Analysis
9.4.1. List Raw End User Suppliers
9.4.2. List of Manufacturers
9.4.3. List of Distributors
9.4.4. List of End-Users
9.4.5. End-Users Consumption Analysis
9.4.6. Average Profitability Margin Analysis
9.5. Covid-19 Impact Assessment
9.5.1. Economy/Cluster Projections
9.5.2. Covid-19 Economic Assessment
9.5.3. Impact on Target Market
9.5.4. Recovery Scenario
9.6. Regulatory Framework
9.6.1. Regulations of Key Countries
9.6.2. Potential Impact of Regulations
9.7. Porter’s Five Forces Analysis
9.8. Source Landscape
10.1. Introduction
10.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Type [Value (US$ Mn) and Volume (Tons) Analysis]
10.2.1. polyester
10.2..2 starch blends
10.2. 3 poly lactic acid (PLA)
10.2..4 cellulose
10.2.. 5 polyhydroxyalkanoate (PHA)
10.2..6 other biobased biodegradable plastics
10.3. Market Attractiveness Analysis by Product Type
11.1. Introduction
11.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Application [Value (US$ Mn) and Volume (Tons) Analysis]
11.2.1. packaging
11.2.2. fibres
11.2.3. healthcare
11.2.4. agriculture
11.2.5. others
11.2.6. Market Attractiveness Analysis by Application
12.1. Introduction
12.2. Key Market Trends
12.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. Asia-Pacific
12.3.5. Middle East
12.3.6. Africa
12.4. Market Attractiveness Analysis by Region
13.1. Introduction
13.2. Key Market Trends
13.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
13.3.1. By Country
13.3.1.1. U.S.
13.3.1.2. Canada
13.3.2. By Product Type
13.3.3. By Application
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Product Type
13.4.3. By Application
14.1. Introduction
14.2. Key Market Trends
14.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
14.3.1. By Country
14.3.1.1. Brazil
14.3.1.2. Mexico
14.3.1.3. Rest of Latin America
14.3.2. By Product Type
14.3.3. By Application
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Product Type
14.4.3. By Application
15.1. Introduction
15.2. Key Market Trends
15.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
15.3.1. By Country
15.3.1.1. Germany
15.3.1.2. Italy
15.3.1.3. France
15.3.1.4. UK
15.3.1.5. Spain
15.3.1.6. Netherlands
15.3.1.7. Norway
15.3.1.8. Russia
15.3.1.9. Rest of Europe
15.3.2. By Product Type
15.3.3. By Application
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Product Type
15.4.3. By Application
16.1. Introduction
16.2. Key Market Trends
16.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
16.3.1. By Country
16.3.1.1. China
16.3.1.2. Japan
16.3.1.3. South Korea
16.3.1.4. India
16.3.1.5. Indonesia
16.3.1.6. Thailand
16.3.1.7. Vietnam
16.3.1.8. Australia & New Zealand
16.3.1.9. Rest of Asia-Pacific
16.3.2. By Product Type
16.3.3. By Application
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Product Type
16.4.3. By Application
17.1. Introduction
17.2. Key Market Trends
17.3. Pricing Analysis
17.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
17.4.1. By Country
17.4.1.1. Saudi Arabia
17.4.1.2. Turkey
17.4.1.3. U.A.E.
17.4.1.4. Rest of the Middle East
17.4.2. By Product Type
17.4.3. By Application
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Product Type
17.5.3. By Application
18.1. Introduction
18.2. Key Market Trends
18.3. Pricing Analysis
18.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
18.4.1. By Country
18.4.1.1. South Africa
18.4.1.2. Nigeria
18.4.1.3. Egypt
18.4.1.4. Rest of Africa
18.4.2. By Product Type
18.4.3. By Application
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Product Type
18.5.3. By Application
19.1. Tier Structure Breakdown
19.2. Market Share Analysis
19.3. Production Capacity Analysis
19.4. Company Footprint Analysis
19.4.1. Product Footprint of Players
19.4.2. Regional Footprint of Players
19.4.3. Channel Footprint of Players
19.5. Brand Preference Analysis
19.6. Competition Dashboard
20.1. NatureWorks
20.1.1. Company Overview
20.1.2. Product & Financial Portfolio
20.1.3. Manufacturing Facilities
20.1.4. Recent Developments
20.1.5. SWOT Analysis
20.1.6. Strategy Overview
20.2. Total Corbion
20.3. Danimer Scientific
20.4. Novamont
20.5. Mitsubishi Chemicals
20.6. Indorama
20.7. Braskem
20.8. Avantium
20.9. Borealis
20.10. Cathay
20.11. Dupont
20.12. BASF
20.13. Arkema
20.14. AMSilk GmbH
20.15. Notpla
20.16. CARAPAC Company
20.17. Loliware
20.18. Bolt Threads
20.19. Ecovative
20.20. CH-Bioforce Oy
20.21. Xampla
20.22. Spero Renewables
20.23. Checkerspot
20.24. Kraig Biocraft Laboratories
20.25. Spiber