Global Biodegradable Materials Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Biodegradable Materials Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Biodegradable materials are products that decompose naturally through temperature, sunlight or the processes of bacteria, fungi, molds and other living organisms in a process known as composting. Food waste, grass cuttings and tree leaves and branches are all products commonly composted.

Market Overview:

The latest research study on the global Biodegradable Materials market finds that the global Biodegradable Materials market reached a value of USD 3214.55 million in 2022. It’s expected that the market will achieve USD 5769.0 million by 2028, exhibiting a CAGR of 10.24% during the forecast period.

Growth in the food packaging sector drives market development.

Food packaging, disposable tableware (including cups, plates, cutlery, etc.) and plastic bags are the largest end-user market for biodegradable goods and the main growth engine. Food safety is an important requirement for food production and packaging. The booming retail industry and increased consumption of packaged food by consumers, rapid changes in lifestyles and food preferences, coupled with population growth and economic growth in various regions, will increase packaging solutions. The needs of the program, and these areas will benefit from the “plastic limit order” or “ban on plastics” of government departments in various countries and regions.

The comprehensive performance and cost issues of biodegradable materials products pose challenges to the market.

Biodegradable materials products still have some specific problems that have not yet been resolved, and promotion has been hampered. For example, degradable plastic bags, because the degradable plastic bags have low load-bearing capacity, cannot meet the requirements of customers for more stuff and repeated use; second, the degradable plastic bags are dull and yellow, with low transparency and seemingly not clean enough; thirdly, the price is higher, the cost of degradable materials is higher than that of traditional plastic bags.

Region Overview:

In 2022, the share of the Biodegradable Materials market in Europe stood at 46.35%.

Company Overview:

BASF is one of the major players operating in the Biodegradable Materials market, holding a share of 25.3% in 2023.

BASF

BASF SE is a chemical company. The Company operates in six segments, including chemicals, plastics, performance products, functional solutions, agricultural solutions, and oil and gas. BASF offers products for the chemical, automotive, construction, agriculture, oil, plastics, electrical, electronics, furniture, and paper industries, and provides a range of system solutions and services.

Corbion NV

Corbion NV delivers biobased products made from renewable resources. The Company's key products are lactic acid, lactic acid derivatives and lactides, and functional blends containing enzymes, emulsifiers, minerals and vitamins for global markets such as bakery, meat, pharmaceuticals and medical devices, home and personal care, packaging, automotive, coatings and resins.

Segmentation Overview:

By type, Synthetic Materials segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Packaging segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Biodegradable Materials market covered in Chapter 3:

Dupont
Corbion
Biome Bioplastics
Solvay
Danimer Scientific
Arkema
BASF
Cortec
NatureWorks
Novamont
FP International (Pregis)
Plantic

In Chapter 4 and Chapter 14.2, on the basis of types, the Biodegradable Materials market from 2018 to 2029 is primarily split into:

Natural Macromolecule Cellulose
Synthetic Materials
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Biodegradable Materials market from 2018 to 2029 covers:

Packaging
Agriculture
Medical
Chemical Industry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)