USD 7.29 billion
Biodegradable Polymer Market Size, Share, Growth Analysis, By Material Type(PBAT, PBS, PLA, PHA), By End-User(Packaging, Agriculture, Healthcare, Consumer goods and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2532 |
Region:
Global |
Published Date: May, 2024
Pages:
184
|Tables:
66
|Figures:
75
Biodegradable Polymer Market Insights
Global Biodegradable Polymer Market size was valued at USD 7.29 billion in 2023 and is poised to grow from USD 9.58 billion in 2023 to USD 44.90 billion by 2031, growing at a CAGR of 21.3% in the forecast period (2024-2031).
The demand for biodegradable polymers is increasing across the world owing to the growing focus on sustainability. A growing number of companies opting for eco-friendly packaging solutions could also bolster the biodegradable polymer market growth across the forecast period and beyond. Many brands are now opting for biodegradable polymers to reduce CO2 emissions and combat pollution and global warming. Brands are now going for biodegradable polymers to reduce their carbon footprint. Research shows that 55% of consumers prefer environmentally responsible brands over others who are still going with general plastic.
For example, P&G is focusing on developing innovative and natural packaging solutions to reduce its footprint and greenhouse gas emissions by 2030. Also, there are several brands from various industries that are ditching traditional plastics.
Pangea is one such beauty company that sells lip, face, and body care. They are committed to making the beauty industry sustainable. In their packaging they use Sugarcane Bio-resin, they are the first company in the world to use this alternative material. They use Sugarcane Bio-resin in their packaging and are the first company in the world to do so. This switch reduces the need for raw materials and this material is recyclable, and compostable, and decreases carbon footprint.
Regulatory authorities around the world are incentivizing the use of biodegradable substitutes, which in turn, is estimated to favor biodegradable polymer market growth. Collaboration among industry players is fostering innovation, while improved waste management infrastructure is aiding in proper disposal and management. Also, technological advancements like bio-based feedstocks are enabling broader applications of biodegradable plastics. Investor funding for research and commercialization initiatives demonstrates the robust market potential. Many nations are looking forward to achieving net zero emissions globally, prompting businesses to prioritize eco-friendly solutions.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
PLA
Fastest Growth
PLA
Growth Rate
21.3% CAGR
Global Biodegradable Polymer Market ($ Bn)
Country Share for Europe Region (%)
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Biodegradable Polymer Market Segmental Analysis
Global Biodegradable Polymer Market is segmented by material type, end-user, and region. Based on material type, the market can be segmented into PLA, PBAT, PBS, PLA, PHA, and Starch Blends. Based on end-user, the market is segmented into packaging, agriculture, textile, consumer and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Material Type
The global biodegradable plastics market is segmented into several material types, including PBAT, PBS, PLA, PHA, starch blends, and others among which polylactic acid (PLA) is prominent as an environmentally friendly substitute for conventional plastics. PLA is sourced from plant materials like sugarcane or cornstarch, which offer biodegradable and low carbon footprints. Its versatility makes it suitable for its diverse applications like disposable cutlery, food containers, packaging, etc. The increasing demand for PLA is driven by growing environmental concerns and a shift towards sustainable practices in industries and among consumers. Also, PBAT-based biodegradable plastics have the second fastest growth
Starch-based polymers are also attaining pull due to their cost effectiveness and huge availability, although they need blending with dome other polymers to enhance their properties like resistance to water and durability. Its commercial development focuses on improving degradability and reducing costs. The major user areas are packaging solutions, hygiene products, compost bags, agricultural- films, etc.
Analysis by End-User
The global polymer Biodegradable polymer market is segmented into packaging, agriculture, healthcare, and consumer goods sectors. Packaging is the key element for biodegradable plastics.
The packaging sector is the dominating segment in this market. Biodegradable plastics play many vital roles in food packaging when it comes to containers, bags, wraps, trays as well as bottles. Along with the growing confirmation that sustainability is a global problem, the demand for biodegradable packaging will increase, which in turn will reduce waste. The products are moreover applied remarkably in the areas of agriculture where starch-coffee and sugar-coated packets and cellulose substitutes in horticulture are required.
Agriculture is the second-largest and fastest-growing sector in the global biodegradable polymer market. Biodegradable plastics are increasingly being used in agriculture for various purposes such as mulch films, greenhouse films, and plant pots. These materials offer environmental benefits compared to traditional plastics and are gaining popularity among farmers and growers.
Regarding its usage in medical applications, biodegradable polymers can be used in drug delivery systems, surgical sutures, tissue engineering, and medical implants. It is used to deliver drugs in a controlled dose form while demonstrating the biocompatibility and the gradual degradation in the body, without any release of toxic materials accidentally.
Global Biodegradable Polymer Market By Material Type
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Biodegradable Polymer Market Regional Insights
In the biodegradable polymer market, Europe emerges as a front-runner which has been helped by great regulations and a high level of awareness regarding pollution by plastic waste. Italy has sustained the advance of biodegradable polymers by developing countries, and Novamont SPA is taking the lead with its Mater-Bi range. Governmental measures, which are the EU’s Single–Use Plastic ban, which was adopted in 2019, prohibit the selling of single-use plastics like plastic straws, forks, plates, etc. Moreover, the EU has also adopted the Circular Economy Action Plan which seeks to replace the current plastic packaging placed in the EU market with reusable ones by 2030.
The Asia-Pacific region is said to be the fastest-growing region in this market. This region is slated to be driven by increasing industrialization and urbanization process that creates massive spaces for manufacturers. China and Japan are leading the field by signing big agreements with companies such as Tianan Biologic Materials Co., Ltd. and Kingfa Sci.& Tech. co., which comes with the latest tools for solving problems. Also, many countries in this region have implemented initiatives and regulations to promote the use of biodegradable plastics. For example, China has banned the use of certain types of single-use plastics, creating a market opportunity for biodegradable alternatives.
North America recorded the second-highest adoption rates of biodegradable options along with the US and Canada, and both pronounced customer awareness and environmental concerns for this advancement. Whereas Latin America especially Brazil is now demanding more eco-friendly products and solutions. Braskem, one of the largest players in the Brazilian market, is also involved in introducing new biodegradable products. On the other hand, when it comes to the Middle East, and Africa, the phase of consistently switching to biodegradable options is just coming into action. Although, there is a part of people in the region who are becoming interested in sustainable alternatives. They are investing such in a way that the research and development gesture to growth in the future.
Global Biodegradable Polymer Market By Region
- Largest
- Fastest
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Biodegradable Polymer Market Dynamics
Drivers
Environmental concerns and sustainability goals
- One significant driver in the global biodegradable polymer market is the increasing consumer awareness and demand for a safer environment. Consumers are becoming more conscious of the harmful effects of synthetic polymer and the damage it causes to our environment and our health. This growing awareness has pushed the demand for products that are eco-friendly, leading companies to switch to biodegradable packaging and products. Thus, many major companies like Nestle, Coca-Cola, Unilever, etc have opted to reduce plastic waste and environmental impact.
Government Regulations
- Many countries are implementing regulations to reduce the use of conventional plastics and promote the use of biodegradable materials due to the interference of governmental schemes and regulations. For example, India introduced Plastic Waste Management Rules in 2016 and amended them in 2018 to regulate the manufacture, usage, and disposal of plastic items. The rules include a ban on the manufacture, sale, and use of certain types of plastic carry bags and products made from non-biodegradable plastics.
Restraints
Cost and Lack of Infrastructure
- One of the biggest restraints is cost and lack of infrastructure. Biodegradable polymers are more expensive to produce than traditional plastics, which can be a challenge to their widespread adoption. This high cost is due to the use of renewable raw materials and the production process. Moreover, they need proper disposal and recycling infrastructure, such as composting facilities which are also very expensive to build. The lack of such infrastructure in many regions can also hinder the growth of the biodegradable polymer market.
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Biodegradable Polymer Market Competitive Landscape
The global biodegradable polymer market has several market players that shape the market share. Among the many major companies, NatureWorks LLC is a leading producer of PLA or polylactic acid (PLA). It provides a range of biodegradable polymers for different uses like packaging, textiles, 3D printing, etc. Total Corbion PLA, a collaboration between Total and Corbion, specializes in PLA production and provides various options for biodegradable and compostable polymers for fibre and packaging. Novamont SPA, well known for its Mater-BI brand is taking initiatives to eliminate plastic pollution by being a part of the New Plastics Economy. Mitsubishi Chemical Corporation, a Japanese company, produces DURABIO biodegradable polymers primarily for the automotive and electronics industry.
In addition to these, companies such as Biome Bioplastics and FKuR Kunstsoff GmbH are notable for their innovative biodegradable polymer solutions. They are steering innovation and competition in the market by consistently developing new leading-edge solutions in this market with enhanced properties to meet the growing demand for sustainable alternatives to traditional plastics.
Top Player’s Company Profiles
- NatureWorksLLC(US)
- BASF SE(Germany)
- Total Corbion PLA (Netherlands)
- Novament SPA (Italy)
- Mitsubishi Chemical Corporation (Japan)
- Biome Bioplastics (UK)
- FKuR Kunststoff GmbH (Germany)
- Danimer Scientific (US)
- Corbion (Netherlands)
- Braskem (Brazil)
- Arkema (France)
- Cardia Bioplastics (Australia)
- BioBag International (Norway)
- Plantic Technologies (Australia)
- Bioplastics International (US)
- Green Dot Bioplastics (US)
- API S.p.A. (Italy)
- Synbra Technology bv (Netherlands)
- Tianan Biologic Materials Co., Ltd. (China)
- Kingfa Sci. & Tech. Co., Ltd. (China)
Recent Developments
- In March 2022, NatureWorksLLC and Danimer Scientific announced a collaboration to develop a new generation of biodegradable polymers.
- In November 2021, Total Corbion PLA, a joint venture between Total and Corbion, collaborated with Mitsui Chemicals to expand its production capacity for PLA. The partnership aimed to meet the growing demand for biodegradable polymers and strengthen Total Corbiom PLA’s position in the market.
- In June 2023, BASF inaugurated its Center of Excellence for Biodegradation and Microplastics at its Wyandotte site in Michigan. This facility aims to assist customers in North America in attaining their circularity and sustainability objectives.
- In September 2023, The Mitsubishi Chemical Group (MCG Group) introduced an advanced bio-based compostable polymer.
- In September 2021, FKuR Kunststoff GmbH expanded its distribution network in Asia. It partnered with a local distributor in China which allowed them to better serve its customer and tap into the growing demand for the biodegradable plastics in the region.
Biodegradable Polymer Key Market Trends
- The rising consumer desire for sustainable packaging solutions is a prominent trend in the market for biodegradable plastics worldwide. Consumers prefer products that are safe and non-toxic to use. These plastics are often made from renewable sources and do not contain harmful chemicals, making them a safer option for both consumers and the environment as they are designed to break down into natural elements over time, reducing the amount of plastic waste in the environment.
- There is a growing investment in research and development of biodegradable plastics, leading to the development of new products and technologies. This investment is expected to further drive the growth of the biodegradable plastics market.
- Governments around the world are implementing regulations to promote the use of biodegradable plastics and reduce plastic waste. This regulatory support is driving the adoption of biodegradable plastics across various industries.
Biodegradable Polymer Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Biodegradable Polymer market analysis, the market is witnessing significant growth driven by factors such as rising demand for renewable resources, growing awareness of personal health and safety along with the demand for a safe and toxin-free ecosystem. Consumers are increasingly conscious of the harmful effects of synthetic chemicals in conventional plastics, leading to a shift towards organic, natural, and biodegradable alternatives. The market is driven by intense consumer preferences which is the key driver that pushed the major market players to focus on product innovation, research and development, and strategic partnerships. However, the limited infrastructure, lack of more advanced technology, and high costs pose a challenge for manufacturers. Additionally, a prominent trend for the increasing demand for a clean environment and sustainable formulations, as consumers prioritize eco-friendly and ethically sourced packaging will always drive this market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 7.29 billion |
| Market size value in 2031 | USD 44.90 billion |
| Growth Rate | 21.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Biodegradable Polymer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Biodegradable Polymer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Biodegradable Polymer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biodegradable Polymer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biodegradable Polymer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Biodegradable Polymer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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