Because Of Growing Environmental Concerns, The Biodegradable Plastics Market Is Expected To Reach $7 Billion By 2026 As Per The Business Research Company's Biodegradable Plastics Global Market Report 2022
TBRC’s market research report covers biodegradable plastics market size, biodegradable plastics market forecasts, major biodegradable plastics companies and their market share, key strategies to undertake, and more.
LONDON, May 17, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the biodegradable plastics market, growing concerns for the environment are expected to increase the growth of the biodegradable plastics market. The major growing concerns for the environment are plastics. The increase in the use of plastics is a growing concern for the environment. In January 2021, according to the data published by the European environment agency, the COVID-19 pandemic had made changes in the consumption, waste, and production of plastics. A recent BCG survey involving 3,000 people across eight countries found that in the wake of the pandemic, people were now more concerned about addressing environmental challenges and were committed to changing their own behavior to advance sustainability. Almost 40% of respondents said they plan to engage in more sustainable behavior in the future. Therefore, growing concerns for the environment are expected to drive the biodegradable plastics market.*Request **for a sample of the global **biodegradable plastics* *market report*
The global biodegradable plastics market size is expected to grow from *$3.74 billion in 2021 to $4.21 billion in 2022* at a compound annual growth rate *(CAGR) of 12.6%.* The global biodegradable plastic market share is expected to grow to *$7.16 billion in 2026* at a *CAGR of 14.2%.*
Product innovations are a key trend gaining popularity in the biodegradable plastics market. Many organizations are launching innovative products in biodegradable plastics, which are cost-effective and sustainable in nature. For example, in July 2021, the Defense Research and Development Organization (DRDO) based in India launched biodegradable packaging products that are manufactured from biodegradable plant-based food-grade materials. They are available in a water-resistant form and can be degraded in three months. These packaging bags are an ocean-safe alternative to single-use plastics and are cost-effective and sustainable.
Major players in the biodegradable plastics market are BASF, NatureWorks, BIOME TECHNOLOGIES PLC., Novamont S.p.A., Mitsubishi, Biome Bioplastics, Plantic, BIO-ON, Danimer Scientific, Novamont S.p.A, TORAY INDUSTRIES, INC, Kruger Inc., Total Corbion PLA, Perstorp, K.D. FEDDERSEN, UrthPact, LLC, BIoTec Pvt. Ltd., BioGreen, CLONDALKIN GROUP, Plantic Technologies Limited, Amcor Limited, and Mondi Group.
The global biodegradable plastic market analysis report is segmented by type into Polylactic Acid (PLA), Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), PHA (Polyhydroxyalkanoates), starch blends, others; by end-user into packaging, agriculture, consumer goods, others.
As per TBRC’s biodegradable plastic market outlook, *North America* was the *largest region* in the market in 2021. *Asia-Pacific* is expected to be the *fastest-growing region* in the global biodegradable plastics market during the forecast period. The regions covered in the global biodegradable plastic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Biodegradable Plastics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide biodegradable plastic market overviews, biodegradable plastic market analyze and forecast market size and growth for the whole market, biodegradable plastic market segments and geographies, biodegradable plastic market trends, biodegradable plastic market drivers, biodegradable plastic market restraints, biodegradable plastic market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
*Not the market you are looking for? **Check out* *some **s**imilar **market** intelligence reports**:*
Plastic Alternative Packaging Global Market Report 2022 – By Type (Starch Based Plastic, Cellulose Based Plastics, Polylactic Acid (PLA) Polyhydroxyalkanoates (PHA), Other Types), By Process (Recyclable, Reusable, Biodegradable), By Application (Food And Beverage, Personal Care, Health Care, Other Applications) – Market Size, Trends, And Global Forecast 2022-2026
Plastics And Rubber Products Global Market Report 2022 – By Type (Rubber Products, Plastic Products), By End-User Industry (Automotive & Transportation, Electrical & Electronics, Medical, Construction, Other End Users) – Market Size, Trends, And Global Forecast 2022-2026
Plastic Material And Resins Global Market Report 2022 – By Type (Polypropylene-Plastic Material And Resins, High-Density Polyethylene, Poly-Vinyl Chloride, Polyethylene Terephthalate, Polyurethane, Low-Density Polyethylene, Polystyrene-Plastic Material And Resins, Other Plastic Material And Resins), By Application (Packaging, Housewares, Bags, Sheets, Bottles, Fibers, Tapes, Films, Medical Materials, Other Applications), By End-User Industry (Chemical Industry, Coating & Printing Industry, Electronics Industry, Food & Pharmaceutical Industry, Other End-User Industries) – Market Size, Trends, And Global Forecast 2022-2026
*Interested to know more about The Business Research Company? *
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
*The World’s Most Comprehensive Database*
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
CONTACT: The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: http://blog.tbrc.info/