Description
Biodegradable plastic is a natural and plant-based plastic with no hazardous impacts on the environment. It breaks down naturally in base compounds in a reasonable amount of time. Thus, plastic, referred as biodegradable, is made of molecule which can degrades naturally by the action of micro-organisms. Few known forms of biodegradable plastic are, Polybutylene adipate terephthalate (PBAT), Polylactic Acid) (PLA), Polyhydroxyalkanoates (PHA), Polybutylene Succinate (PBS) and starch blends. The governments and regulatory bodies in various regions have implemented bans or restrictions on single-use plastics and are promoting the use of biodegradable alternatives such as biodegradable plastics to mitigate plastic waste. In addition, the consumer preferences are shifting towards eco-friendly products. People are actively seeking products made from renewable resources that have a lower environmental impact. Thus, the rising awareness about the eco-friendly products is also driving the biodegradable plastics market. On the other hand, lack of infrastructure for biodegradable plastic disposal and minimum availability of biodegradable plastics are impeding the market growth. The Biodegradable Plastics Market is likely to grow at a rate of 13.1% CAGR by 2028.
Biodegradable Plastics Market based on Types
•    Starch-based
•    PLA
•    PBS
•    PBAT
•    PHA
•    Others
Biodegradable Plastics Market based on End Users 
•    Packaging
•    Agriculture
•    Consumer Goods
•    Others
Biodegradable Plastics Market based on Geography
•    North America
•    Europe
•    Asia Pacific
•    Rest of the World
On the basis of type, the global biodegradable plastics market is segmented into Starch-based, PLA, PBS, PBAT, PHA and Others. An environmentally acceptable alternative for old plastics is polylactic acid, commonly known as polylactide (PLA), a renewable polymer made from plant materials such as sugarcane or cornstarch. For different types of uses, such as food containers, packaging, disposable cutlery and 3D printing, its biodegradability and less carbon footprint make it attractive. Enterprises and consumers similarly favor PLA owing to its flexibility and environmentally acceptable qualities. The market demand for PLA products is rising as sustainability becomes a priority and governments and industries emphasize on minimizing plastic waste.
On the basis of end users, the biodegradable plastics market is divided into Packaging, Agriculture, Consumer Goods and Others. Packaging is a major driver for biodegradable plastics, meeting the surging demand for sustainable substitutes. These plastics provide natural degradation and waste reduction, addressing issues about conventional plastic's environmental impact. Biodegradable plastics have applications in bags, food containers, trays, wraps and bottles, delivering comparable functionality and product protection. Consumer preference for environment-friendly options results in adoption of biodegradable packaging, improving brand reputation and customer loyalty. Government restrictions fuel the environment -friendly industry, while material and manufacturing advancements enhance biodegradable packaging's performance, such as barrier characteristics and compostability.
On the basis of geography, the European Biodegradable Plastics Market share is the maximum globally and is accelerated by the existence of a huge number of companies incurred in the production of biodegradable plastics, such as Bio-On and FKuR. The European Union has implemented various policies intended at minimizing plastic waste and encouraging the use of biodegradable plastics, which is boosting growth in the market.
Moreover, the businesses and industries around the globe are focusing on circular economy principles, aiming to reduce waste and promote recycling and composting which is key trend boosting the demand for Biodegradable plastics. Since, biodegradable plastics fit into this framework by offering materials that can be naturally degraded and returned to the environment.
This report provides the few notable vendors of the market Tetra Pak, Bioplastics International, Plantic Technologies Ltd., Mitsubishi Chemical Group, Kruger Inc., Amcor, BASF, Biome Bioplastics Limited, Toray Industries, Inc. and NOVAMONT S.P.A.
Henceforth, the biodegradable plastics market has gained attention in recent years due to increased environmental consciousness and regulatory efforts to reduce plastic pollution. However, it's important to note that while biodegradable plastics offer advantages over traditional plastics, they are not a silver bullet and need to be managed carefully to ensure they fulfill their intended environmental benefits.
•    This report offers an exclusive analysis of the present and future market trends and dynamics in the market.
•    Geographically, the market report gives the analysis of the regions such as North America, Europe, Asia Pacific and rest of the world.
•    This report includes the comprehensive quantitative analysis of the present market and projections which helps to identify the emerging market opportunities.
•    This report also includes the significant players of market and their dynamic strategies, expansions, mergers and acquisitions and new product launches.