Global Biodegradable Plastics Market Size, Insights, Drivers, Opportunities, By Product (PLA, Starch Blends, Biodegradable Polyesters, PHA, Others), By Application (Packaging & Bags, Consumer Goods, Agriculture & Horticulture, Textile, Others), By Region, Growth, Trends and Forecast from 2019 to 2027
Global Biodegradable Plastics Market Size, Insights, Drivers, Opportunities, By Product (PLA, Starch Blends, Biodegradable Polyesters, PHA, Others), By Application (Packaging & Bags, Consumer Goods, Agriculture & Horticulture, Textile, Others), By Region, Growth, Trends and Forecast from 2019 to 2027
Historic years: 2015 to 2017 Base Year: 2018 Forecast Years: 2019 to 2027
Number of pages: 100 Category: Chemical Report Id: MISCH5002
Market Insights
The global biodegradable plastics market was valued at USD 3.11 billion in 2018 and is estimated to reach a value of USD 11.25 billion in 2027. The market is analyzed to rise at a CAGR of 15.35% over the forecast period of 2019 to 2027. The rise in disposable income of the middle class population along with the rise in demand from the horticulture and agriculture drives the growth of the biodegradable plastics market. The increasing concerns for an eco friendly lifestyle for plastic products among the consumers have also been estimated to maintain the growth in the biodegradable plastics market over the forecast period.Global biodegradable plastics market size by region, 2018 (USD Million)
Primary and secondary researchers have identified NatureWorks, BASF, Total Corbion PLA, Mitsubishi Chemical Corporation, and Biome Bioplastics as the top players in the global biodegradable plastics market. However, considering about the analysis of this segment, factors like company revenue, industry trends towards selecting a particular group and penetration of the biodegradable plastics companies for different applications are being considered.
Asia Pacific signifies a huge demand for the biodegradable plastics around the world. However, the rise of spending for product in countries such as China and India lead the market for biodegradable plastics in the region. The rise in the middle class disposable income and population in the Asia Pacific countries has provided a highest growth for the market in and over the forecast period.
Product Insights
Starch blends type is estimated to be the largest segment holding a share of about 38.59% share in the market. In 2018, the starch blends segment was estimated to be USD 1.20 billion and expected to reach USD 4.10 billion in 2027 with a CAGR of 14.63% over the period of 2019 to 2027. The low cost and abundance of availability of raw material along with its prime use in packaging application drives the growth of the segment over the forecast period. Moreover, excellent barrier properties and high performance of PLA product makes to grow at a fastest growth of about 17.15% over the forecast period.Application Insights
Packaging & bags type is the largest segment and is expected to grow at a CAGR of 16.94% over the forecasted period of 2019 to 2027. The rising growth of product due to its vast use for bakery goods and fresh food packaging makes it to provide a higher demand in the current scenario. Moreover, high demand of product in packaging application anticipates it to be a fastest segment over the forecast period.Global biodegradable plastics market value share by application, 2027 (%)
Regional Insights
As of 2018, Europe accounts for the largest share in the biodegradable plastics market, with a share of over 37.71% of the global market. The larger awareness recorded in region towards use of plastic products in countries such as Germany, U.K. and France provide the product, a reasonable demand from the global market. Moreover, improvement in standard of living along with rise in consumer spending in countries such as China and India in the biodegradable plastics drives the growth of the Asia Pacific over the forecast period. The report is a thorough study which includes top companies, their annual presentations, industry publications, press releases and their drivers, opportunities, trends and the market understanding through different modes (Product, Application and Regional analysis) with growth factors and future expectancies in the biodegradable plastics market.Research Methodology
The following report consists of market analysis including both primary and secondary research. Primary research comprises the interaction between manufacturers, industry experts and channel partners, while the secondary research presents an analytical interpretation of relevant publications which contains details like proprietary databases, purchased database, company annual reports, and financial reports. For single, team and corporate user license, we will provide 15% free customization of the report. However, alternatively, if you are looking for additional data or insight related to the scope of the report, you may purchase the "Customized Research License". Please put an enquiry for the pricing details.Segments covered in the report
Product Outlook- PLA
- Starch Blends
- Biodegradable Polyesters
- PHA
- Others
- Packaging & Bags
- Consumer Goods
- Agriculture & Horticulture
- Textile
- Others
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- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
- North America
- All market drifts, drivers and opportunities
- Understanding the dynamics of the parent market
- Prime fluctuations of the business dynamics
- Historical, current, and projected size of the market with respect to production and sales
- Segmentation and comprehensive analysis in the second or third level
- Reporting and evaluation of recent industry developments
- Detailed profiling of leading companies
- Opportunities to newer trends in global, regional and country markets
- Analyzing the trajectory line of the business
- Measures to consider for biodegradable plastic products in the industry