Biodegradable Plastics Market is Estimated to be USD 13.4 Billion by 2034; The Property of Biodegradable Plastics to Produce Fewer Greenhouse Gases Propels Market Growth

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Published Date: February 2025

Biodegradable plastics, made from microorganisms, can decompose into water, carbon dioxide, and biomass. It can be used in packaging, extrusion, injection molding, and co-injection with other materials. There are two types, such as bio plastics and petrochemicals. Growing awareness concerning to environment and rising consumer preference of eco-friendly packaging material for packaging food, usage of compostable bags, and agriculture applications are factors contributing to market expansion.

Biodegradable Plastics Market Segmentation Analysis:

By Product	Starch-based Plastics, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Cellulose-based Plastics, and Others
By Application	Packaging, Agriculture, Textiles, Consumer Goods, and Others
By End-Use Industry	Food and Beverage, Retail, Agriculture, Healthcare, and Others

Biodegradable Plastics Market Report Highlights:

Biodegradable plastics market size is accounted for USD 5.9 Billion in 2024.
Target market estimated to be USD 13.4 Billion by 2034 and is expected to register a CAGR of 9.4%.
According to product, the starch-based segment plastics held the largest biodegradable plastics market share.
On the foundation of application, the packaging segment is attributed to dominate the target market share.
Based on end-use industry, the food and beverage segment is expected to lead the market growth.
Regionally, North America is the region, which is predicted to have the biggest market, as compared to the other regions.

Biodegradable Plastics Market Dynamics:

Growing Factor	Challenge Factor	Market Trend
Increasing Demand for Reducing Pollution from Chemical Reactions	The Limited Recycling Option Of Biodegradable Plastics	Adopting More Versatile and Sustainable Biodegradable Plastics

Biodegradable Plastics Market Key Highlights:

In December 2023, Sulzer, a Swiss technology company, expanded its bio plastics portfolio with the launch of CAPSULTM, a new end-to-end licensed technology for the continuous production of polycaprolactone (PCL). This PCL was a biodegradable polyester widely used in the packaging, textile, agricultural, and horticultural industries. Consumer packaging, 3D printing, footwear, agricultural films, textiles, and medical devices are among the most common applications for high-quality PCL.

Biodegradable Plastics Market Report Analysis:

Economic Analysis of Biodegradable Plastics with Commercially Available Plastics

The costs of producing biodegradable plastic are the major reason it is far from becoming a market mainstay. Despite the fact that plastic goods are widely manufactured, standardized, and used in practically every industry from packaging to pharmaceuticals the widespread use of biodegradable polymers is hampered by its costs. The cost of producing biodegradable plastics is higher than that of its fossil fuel-based counterparts, and it cannot be attributed to a single input or technology as the process requires a variety of intricate feedstock, technologies, and procedures.

Around the world, there are significant differences in the technological setup, production circumstances, and procedures used to create biodegradable polymers. Feedstock costs also start to influence how much biodegradable polymers cost. However, currently prices of some biodegradable plastics such as PLA is very competitive to the commercially available plastics. It is currently leading the market of bio-based and biodegradable plastics in terms of prices.

Browse ∼50 market data tables and ∼45 figures through ∼190 slides and in-depth TOC on “Biodegradable Plastics Market, By Product (Starch-based Plastics, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Cellulose-based Plastics, and Others), Application (Packaging, Agriculture, Textiles, Consumer Goods, and Other Applications), End-Use Industry (Food and Beverage, Retail, Agriculture, Healthcare, and Others), and Region - Trends, Analysis, and Forecast till 2034”

For more insights into the Biodegradable Plastics Market and its future trends, visit the link: https://www.prophecymarketinsights.com/market_insight/biodegradable-plastics-market-5470

Competitive Landscape of Biodegradable Plastics Market:

The companies operating in the biodegradable plastics market include Cargill Incorporated, PTT MCC Biochem Co., Ltd., Biome Technologies plc, Plantic Technologies Limited, BASF SE, Total Corbion PLA, NatureWorks LLC, Eastman Chemical Company, Trineso, Danimer Scientific, Novamont, Metabolix, and FKUR Kunst Stoff GmbH.