In-Depth Exploration of the Biobased Biodegradable Plastics Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2030.
Report Ocean has recently released a comprehensive research report on the global Biobased Biodegradable Plastics Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
Global Biobased Biodegradable Plastics Market is valued approximately USD $$ billion in 2022 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2030.
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Most plastics are made from fossil fuels, which contribute to increased greenhouse gas emissions and pollution. Bio-based plastics are fully or partially made from biological resources, rather than fossil raw materials. Biobased Biodegradable is being driven by growing Sustainable Packaging industry and favorable government initiatives & policies. For instance, according to as of 2020, biodegradable plastics, which includes PLA, PHA, starch blends and others, account for approximately 60 percent (over 1.2 million tonnes) of the total global bioplastics production capacities. By the year 2025 the production of biodegradable plastics is expected to increase to 1.8 million. this significant growth would be mainly due to Polyhydroxyalkanoates significant growth rates and new investments for PLA production in the US and in Europe.
Also, in august 2020, Biome Bioplastics (UK’s leading developer of natural plastics) has been awarded funding of USD 0.30 million from the UK Government’s Innovate UK agency to support a new USD 0.39 million collaborative project to scale-up its novel compostable bioplastic materials in collaboration of the University of Nottingham’s Department of Chemical and Environmental Engineering. Also, with the increasing demand from end use industry and Shifting trends towards biodegradable plastics, the adoption & demand for Biobased Biodegradable Plastics is likely to increase the market growth during the forecast period. However, lack of awareness for biobased plastics and low durability as compared to conventional plastics are some of the major factors that impede the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Biobased Biodegradable Plastics market study includes 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 increasing demand sustainable packaging solutions in the region. Whereas, North America is anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as increasing adoption of biobased products and presence of leading players in the region would create lucrative growth prospects for the Biobased Biodegradable Plastics market across Asia-Pacific region.
Major market player included in this report are:
- Natureworks (US)
- BASF (Germany),
- Novamont (Italy),
- Total Corbion (Netherlands),
- Biome Bioplastics (UK),
- Toray Industries (Japan),
- Fkur Kunstsoff (Germany),
- Mitsubishi Chemical Holding Corporation (Japan),
- Danimer Scientific (US),
- Plantic Technologies (Australia)
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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 Product Type:
polyester
starch blends
poly lactic acid (PLA)
cellulose
polyhydroxyalkanoate (PHA)
other biobased biodegradable plastics
By Application:
packaging
fibres
healthcare
agriculture
others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Biobased Biodegradable Plastics market, including:
- What can be expected for the Biobased Biodegradable Plastics market in the next decade?
- What are the primary drivers of growth in the global Biobased Biodegradable Plastics market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Biobased Biodegradable Plastics market vary based on the size of the end market?
- What is the breakdown of Biobased Biodegradable Plastics by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Biobased Biodegradable Plastics market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Biobased Biodegradable Plastics Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Biobased Biodegradable Plastics Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Biobased Biodegradable Plastics Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Biobased Biodegradable Plastics Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Biobased Biodegradable Plastics Market.
Our Biobased Biodegradable Plastics Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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