Biodegradable plastic packaging market is projected to witness a compound annual growth rate of 12.37% during the forecast period to reach a total market size of US$10.132 billion by 2023, increasing from US$5.033 billion in 2017. Growing environmental concerns coupled with stringent regulatory standards has led plastic manufacturers to develop biodegradable plastic. Rising demand for sustainable packaging solutions across industries such as food and beverage and pharmaceuticals is fuelling the demand for biodegradable plastic packaging, thus bolstering the growth of global biodegradable plastic packaging market. Supportive government policies further propel the growth of biodegradable plastic packaging market. For instance, Europe implemented the legislation to reduce the number of single-use carrier bags.
Research Methodology
The report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segments which have been covered as part of the report.
Market Dynamics
This section provides comprehensive market dynamics through an overview section along with growth drivers, challenges and opportunities which exist in the current market. This section of the report also provides key industry, global and regional regulations which are determining the market growth and a brief technological aspect of biodegradable plastic packaging. Complete industry analysis has also been covered through Porter’s five forces model as a part of this report section.
Segmentation
Segments covered under the biodegradable plastic packaging market report are as below:
By Type of plastic:
Oxo-biodegradable Plastic
Hydro-biodegradable Plastic
By Type of material:
Low Density Polyethylene (LDPE)
Polyethylene Terephthalate (PET)
Polylactide (PLA)
By Application:
Bottles and Jars
Food Wraps
Dry Cleaning Bags
Others
By End Use Industry:
Food and Beverage
Cosmetics
Pharmaceuticals
Others
By Geography:
Americas
North America
South America
Europe Middle East and Africa
Europe
MEA
Asia Pacific
Key industry players profiled as part of the report are Arkema, NatureWorks, Novamont, Metabolix Inc., Toray Industries, and LanzaTech, BASF, Novozymes, and Solvay.
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