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

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.