Bio-Based Biodegradable Plastics Market, By Product Type (PLA (Polylactic Acid), PHA (Polyhydroxyalkanoates), Starch blends, Polyesters, Regenerated cellulose, Others), By Application (Packaging, Fibers, Agriculture, Medicine, Others), and By Region (Nort

Bio-Based Biodegradable Plastics Market, By Product Type (PLA (Polylactic Acid), PHA (Polyhydroxyalkanoates), Starch blends, Polyesters, Regenerated cellulose, Others), By Application (Packaging, Fibers, Agriculture, Medicine, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

The bio-based plastic industry witnessed remarkable growth after replacing conventional plastics due to eco-friendly nature, improved functionalities, and suitability for new applications across different industries. This has led to use of bio-based plastics in packaging, automotive, building & construction, and electronics industries.
Market Dynamics
Plastic pollution has become a major environmental concern globally. Around 4 Mn tons of garbage is disposed every day, out of which 15% (0.60 Mn tons) comprises plastics. Plastics are expected to account for 20% of the entire oil pollution in the following 25 years, compared to an estimated 7% in 2016. Plastic production has reached a record high of 311 Mn tons in 2014 and is expected to reach 1,135 Mn tons by 2050. Further aggravating the issue is the fact that only 7% of the plastics are recycled, while the remainder either end ups in oceans or landfills. Approximately 8 Mn tons of plastics are dumped into the ocean every year. These factors have increased consumer awareness and have shifted their inclination towards the usage of bioplastics. Furthermore, these concerns have also paved the way for several manufacturers to enter this market and attract the consumer base for bio-plastics.
Biobased plastic has poor thermal resistance and brittleness property which makes it less durable and restrict its use across various application. This is expected to hamper the market growth of biobased plastic. Moreover, the production of biodegradable plastic has a lengthy procedure and even contain harmful chemicals. Therefore, such a disadvantage associated with the biobased plastic is projected to hinder market growth.
The growing trend of bio packaging among manufacturers is projected to foster market growth over the forecast period. For instance, in July 2019, Nestlé announced that its YES! fruit and nut bars will soon be packaged in recyclable paper wrappers that will decompose within six months, even in the ocean. Therefore, the growing demand for bio packaging is projected to propel the market growth over the forecast period.
Europe dominated the global bio-based biodegradable plastics market in 2021, terms of volume, and the region is projected to maintain its dominance throughout the forecast period. Changing manufacturer’s preference towards bio-based material for packaging and presence of large number of packaging manufacturers in the region is expected to fuel demand for biobased plastic over the forecast period.
Key features of the study:
This report provides in-depth analysis of Bio-based Biodegradable Plastics Market and provides market size (KT and US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key players
It profiles key players in the global Bio-based Biodegradable Plastics Market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered as a part of this study include, BASF SE, Mitsubishi Chemical Corporation, Biome Bioplastics., Toray Industries, Total Corbion PLA, Plantic Technologies, Danimer Scientific, Bio-On, Novamont S.P.A. among others.
Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future products launches, technology up-gradation, market expansion, and marketing tactics
The global Bio-based Biodegradable Plastics Market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Bio-based Biodegradable Plastics Market
Detailed Segmentation:
Global Bio-based Biodegradable Plastics Market, By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
Global Bio-based Biodegradable Plastics Market, By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Global Bio-based Biodegradable Plastics Market, By Geography:
North America
U.S.
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Canada
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Europe
U.K.
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Germany
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Italy
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
France
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Russia
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Rest of Europe
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Asia Pacific
China
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
India
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Japan
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
ASEAN
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Australia
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
South Korea
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Rest of Asia Pacific
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Latin America
Brazil
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Mexico
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Argentina
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Rest of Latin America
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Middle East
GCC
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Rest of Middle East
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Africa
North Africa
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Central Africa
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
South Africa
By Product Type:
PLA (Polylactic Acid)
PHA (Polyhydroxyalkanoates)
Starch blends
Polyesters
Regenerated cellulose
Others
By Application:
Packaging
Fibers
Agriculture
Medicine
Others
Company Profiles
BASF SE*
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments
Future Plans
Mitsubishi Chemical Corporation
Biome Bioplastics.
Toray Industries
Total Corbion PLA
Plantic Technologies
Danimer Scientific
Bio-On
Novamont S.P.A.
“*” marked represents similar segmentation in other categories in the respective section.