Global Biodegradable Plastics Market is valued approximately USD 3.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.1 % over the forecast period 2020-2027. Biodegradable plastic is made using raw materials or petrochemicals and can be decomposed by living organisms such as bacteria. Biodegradable plastic takes less time to break down as it is made up of eco-friendly material and requires less energy for production. The global Biodegradable Plastics Market is facing challenges due to COVID-19 pandemic as manufacturing facilities and supply chain of many organizations is at halt. The increasing use in food packaging & compostable bags applications, shift in consumer preference toward eco-friendly plastic products and focus of governments on green procurement policies are the few factors responsible for growth of the market over the forecast period. Furthermore, the introduction of products and services along with other strategic alliance on market player will create a lucrative demand for the market. For instance: on 26th March 2019, NatureWorks launched Ingeo 3D450, a new Polylactic acid (PLA) Formulation for 3D Printing Break-Away Support on Dual Extrusion Printers. However, higher cost of biodegradable plastics than that of conventional plastics is the major factor restraining the growth of global Biodegradable Plastics market during the forecast period.

The regional analysis of global Biodegradable Plastics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the High awareness among people toward plastic waste. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report are:
Total Corbion PLA
Mitsubishi Chemical Corporation
Biome Bioplastics
Plantic Technologies
Danimer Scientific
Novamont S.P.A.
Toray Industries

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Polylactic acid (PLA)
Starch Blends
Biodegradable Polyesters
Polyhydroxyalkanoates (PHA)

by Application:
Packaging & Bags
Consumer Goods
Agriculture & Horticulture

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Biodegradable Plastics Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers