Biodegradable Plastic Market is Expected to Reach USD 17.82 Billion By 2023 | Major Players: Corbion, BASF, Mitsubishi Chemical Corporation, Bio-On SpA, Plantic, Biome Bioplastics, FKuR and NatureWorks

This study provides insights about the Biodegradable Plastic Market in regards to its uses and benefits. We at Crystal Market Research (CMR) provide updated information that is beneficial in decision making regarding business investments.

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Industry Outlook and Trend Analysis:
The Biodegradable Plastic Market was worth USD 7.67 billion in 2014 and is expected to reach approximately USD 17.82 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 9.82% during the forecast period. Plastics that deteriorate in the nature by the activity of microorganisms are for the most part known as biodegradable plastics. These plastics are partitioned into various classifications, for example, bio-based and petro-based biodegradable plastics. The most widely recognized process used in the assembling of biodegradable plastics incorporates fermentation of sugar or canola oil to deliver polylactic acid (PLA) or polyhydroxyalkanoates (PHA), which thus is changed over into biodegradable plastics. The strict regulatory norms by several governments across the globe insist on the reduction of plastic usage has pushed the demand for biodegradable plastics.

Competitive Insights:
The major players in the market are Corbion, BASF, Mitsubishi Chemical Corporation, Bio-On SpA, Plantic, Biome Bioplastics, FKuR and NatureWorks. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

Market Segmentation:
The Biodegradable Plastic Market is segmented by product into polylactic acid, polybutylene succinate, polyhydroxyalkanoates, starch-based, regenerated cellulose and polycaprolactone. Based on application the market is segmented into packaging, agriculture, textile, injection molding and others out of which the packaging segment is anticipated to be the major consumer of biodegradable plastics in the upcoming years. The demand for biodegradable plastic packaging material will be particularly high in the food and beverages sector.

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Regional Outlook and Trend Analysis:
Europe is anticipated to stand out as the regional market is assessed to grow tremendously over the forecast period based on revenue. The expanding pressure on the regulatory bodies to diminish carbon emanations, landfills, and issues associated with mounting plastic waste have expanded the usage of biodegradable plastics in the area. Besides, solid existence of producers is additionally anticipated that would reinforce the district's position in the worldwide market over the gauge time frame. North America is foreseen to encounter significant development over the forecast period owing to risisng focus on reducing its carbon emissions.

Drivers and Restraints:
The stringent administrative changes by numerous governments over that demand lessening usage of plastic has increased the requirement for biodegradable plastics. This new sort of plastic adjusts to the rules as well as being eco-friendly in more courses than one. Hence, the usage of customary plastic is slowly being supplanted by biodegradable plastic, expanding the income of its worldwide market by leaps and bounds. However, the worldwide biodegradable plastics market is contrarily influenced by the staggering expense of manufacturing of biodegradable plastics. The immense distinction between the costs of ordinary plastics and biodegradable plastics has inhibited many developing economies to stay away from making use of the product.

Major ToC of Biodegradable Plastic Market:
Part 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research

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Part 2. Executive Summary
2.1. Key Highlights

Part 3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.3.1. Emerging Markets to Offer Lucrative Growth Opportunities

Part 4. Market Analysis by Regions
4.1. North America (United States, Canada and Mexico)
4.1.1. United States Market States and Outlook (2014-2023)
4.1.2. Canada Market States and Outlook (2014-2023)
4.1.3. Mexico Market States and Outlook (2014-2023)
4.2. Europe (Germany, France, UK, Russia, Italy and Rest of Europe)
4.2.1. Germany Market States and Outlook (2014-2023)
4.2.2. France Market States and Outlook (2014-2023)
4.2.3. UK Market States and Outlook (2014-2023)
4.2.4. Russia Market States and Outlook (2014-2023)
4.2.5. Italy Market States and Outlook (2014-2023)
4.2.6. Rest of Europe Market States and Outlook (2014-2023)
4.3. Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Rest of Asia-Pacific)
4.3.1. China Market States and Outlook (2014-2023)
4.3.2. Japan Market States and Outlook (2014-2023)
4.3.3. Korea Market States and Outlook (2014-2023)
4.3.4. India Market States and Outlook (2014-2023)
4.3.5. Rest of Asia-Pacific Market States and Outlook (2014-2023)
4.4. South America (Brazil, Argentina, Columbia and Rest of South America)
4.4.1. Brazil Market States and Outlook (2014-2023)
4.4.2. Argentina Market States and Outlook (2014-2023)
4.4.3. Columbia Market States and Outlook (2014-2023)
4.4.4. Rest of South America Market States and Outlook (2014-2023)
4.5. Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa and Rest of MEA)
4.5.1. Saudi Arabia Market States and Outlook (2014-2023)
4.5.2. UAE Market States and Outlook (2014-2023)
4.5.3. Egypt Market States and Outlook (2014-2023)
4.5.4. Nigeria Market States and Outlook (2014-2023)
4.5.5. South Africa Market States and Outlook (2014-2023)
4.5.6. Rest of MEA Market States and Outlook (2014-2023)

Part 5. Biodegradable Plastics Market, By Product
5.1. Introduction
5.2. Global Biodegradable Plastics Sales, Revenue and Market Share by Product (2014-2018)
5.2.1. Global Biodegradable Plastics Sales and Sales Share by Product (2014-2018)
5.2.2. Global Biodegradable Plastics Revenue and Revenue Share by Product (2014-2018)
5.3. Polyhydroxyalkanoates
5.3.1. Global Polyhydroxyalkanoates Sales and Growth Rate (2014-2018)
5.4. Polylactic Acid
5.4.1. Global Polylactic Acid Sales and Growth Rate (2014-2018)
5.5. Polybutylene Succinate
5.5.1. Global Polybutylene Succinate Sales and Growth Rate (2014-2018)
5.6. Polycaprolactone
5.6.1. Global Polycaprolactone Sales and Growth Rate (2014-2018)
5.7. Regenerated Cellulose
5.7.1. Global Regenerated Cellulose Sales and Growth Rate (2014-2018)
5.8. Starch-based
5.8.1. Global Starch-based Sales and Growth Rate (2014-2018)

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