Global Biodegradable Plastics Market Size, Share, and COVID-19 Impact Analysis, By Type (PLA, Starch Blends, PBAT, PHA, PBS, and Cellulose Based), By End User (Packaging, Consumer Goods, Textiles, and Agriculture & Horticulture), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033

Global Biodegradable Plastics Market Insights Forecasts to 2033

• The Global Biodegradable Plastics Market Size was estimated at USD 10.65 Billion in 2023
• The Global Biodegradable Plastics Market Size is Expected to Grow at a CAGR of around 19.97% from 2023 to 2033
• The Worldwide Biodegradable Plastics Market Size is Expected to Reach USD 65.80 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period.

The Global Biodegradable Plastics Market Size is expected to cross USD 65.80 Billion by 2033, Growing at a CAGR of 19.97% from 2023 to 2033. The market has an opportunity to expand due to the government's emphasis on new laws and regulations, customers' high level of purchasing power, and environmental consciousness.

Market Overview  

The industry that produces, distributes, and uses plastics that are intended to decompose spontaneously due to biological processes such as those involving bacteria, fungi, or microorganisms is known as the biodegradable plastics market. Biodegradable plastics are designed to break down more quickly and leave fewer harmful residues in the environment. They are usually made from renewable resources like plants, starches, or oils. They are frequently found in food service products, packaging, agricultural films, and disposable products like straws and cutlery. Government bans on single-use plastics and growing public awareness of the negative consequences of plastic waste are two major factors driving the growth of the biodegradable plastics market. The market for biodegradable plastics is primarily being driven by consumers' increased awareness of sustainability and eco-friendly products. The growing need for packaging end-use industries in emerging nations, together with growing environmental consciousness among the populace, is expected to boost the biodegradable plastics market.    

Report Coverage

This research report categorizes the biodegradable plastics market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the biodegradable plastics market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the biodegradable plastics market.

Driving Factors

The primary driver of the rising demand for biodegradable plastics is the government's increased emphasis on new regulations about the substitution of biodegradable polymers for conventional plastics. Governments that forbid the use of single-use plastics and growing public awareness of the negative consequences of plastic waste are two major factors driving industry expansion. The market is driven by increased awareness, which pushes manufacturers to innovate and change regulations as governments respond to the demand for more environmentally friendly product solutions. Growing consumer awareness of environmental sustainability and the negative impacts of conventional plastic trash is a major factor driving the packaging industry's increasing demand for biodegradable polymers.    

Restraining Factors

The volatility of raw material prices might severely restrict market performance because it could affect the profit margin of the businesses involved.   

Market Segmentation

The biodegradable plastics market share is classified into type and end user.       

• The starch blends segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the type, the biodegradable plastics market is divided into PLA, starch blends, PBAT, PHA, PBS, and cellulose based. Among these, the starch blends segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The industry for biodegradable polymers has embraced starch blends due to their adaptability and environmental friendliness.

• The packaging segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the end user, the biodegradable plastics market is divided into packaging, consumer goods, textiles, and agriculture & horticulture. Among these, the packaging segment held the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Businesses and consumers looking for environmentally friendly substitutes for conventional plastic packaging are driving the rapid growth of the biodegradable plastics packaging market.

Regional Segment Analysis of the Biodegradable Plastics Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the biodegradable plastics market over the predicted timeframe.

North America is anticipated to hold the largest share of the biodegradable plastics market over the predicted timeframe. The market in North America is bolstered by a sophisticated industrial infrastructure and rising consumer demand for eco-friendly goods. Due to the rising demand for bio-based packaging in the food and consumer products industries, the biodegradable plastic market in the United States is anticipated to expand at a substantial compound annual growth rate (CAGR) during the projected period. Compared to traditional plastic, bio-based plastic and bags are more environmentally friendly, have better tensile strength, and are easier to use.

Asia Pacific is expected to grow at the fastest CAGR growth of the biodegradable plastics market during the forecast period. The growth of the application sectors can be ascribed to the availability of inexpensive labor and raw materials as well as rising demand from Asia Pacific's consumer goods, packaging, and agriculture and horticulture end-use industries. The Asia Pacific market is expanding as a result of the growing usage of biodegradable plastics in the packaging end-use sector. The majority of the biobased manufacturing industry is produced in China, which is driving expansion in the Asia-Pacific region.   

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the biodegradable plastics market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Cargill Incorporated
• Biome Technologies plc
• Plantic Technologies Limited
• SPHERE
• Trineso
• BASF SE
• Total Corbion PLA
• BIO-FED
• NatureWorks LLC
• Danimer Scientific
• Eastman Chemical Company
• TotalEnergies Corbion
• TianAn Biologic Materials Co., Ltd.
• Mitsubishi Chemical Group Corporation.
• Others  

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs) 

Recent Developments

• In November 2024, BASF SE and Mount to Coast, an expert in ultrarunning footwear, partnered to launch CircleCELL, a cutting-edge midsole technology. The new biomass-balanced ecoflex BMB biopolymer from BASF, which improves performance and encourages sustainability, is used for the first time in this midsole. Compared to more conventional materials like polyether block amide (PEBA), the CircleCELL midsole is said to be 90% more durable while still providing the same energy return that is necessary for high-performance running shoes. 

• In March 2024, Beyond Plastic and CJ Biomaterials announced a collaboration to create biodegradable bottle caps made of plastic. Polyhydroxyalkanoate (PHA), a biopolymer obtained from natural sources, is used to make the cap. It improves the functionality of traditional plastics and has positive environmental effects. 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the biodegradable plastics market based on the below-mentioned segments: 

Global Biodegradable Plastics Market, By Type  

• PLA
• Starch Blends
• PBAT
• PHA
• PBS
• Cellulose Based

Global Biodegradable Plastics Market, By End User  

• Packaging
• Consumer Goods
• Textiles
• Agriculture & Horticulture

Global Biodegradable Plastics Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa