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Europe Bio-Degradable Plastic Market Size, Share, Growth | Report 2028
Europe Bio-Degradable Plastic Market 2023
Bio-degradable plastic, or bioplastic, refers to plant-based plastic that does not harm the environment. It is manufactured from molecules that can break down naturally. It is formed from plant- or animal-based raw materials, including orange peels, corn oil, switchgrass, or petrochemicals that contain bio-degradable additives. Bio-degradable plastic is decomposed by microorganisms, such as bacteria and fungi, into water, carbon dioxide and biomass. As a result, it finds applications across food and beverage, pharmaceuticals, personal and home care, consumer goods, and textile industries.
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Market Trends:
The Europe bio-degradable plastic market is primarily driven by the rising awareness regarding the negative effects of plastic waste. Single-use plastic produces greenhouse gases during decomposition and takes a decade to break down or degrade, which is harmful to the environment. As a result, consumers are willing to pay more for bio-degradable plastic owing to its eco-friendly nature. Besides this, the European Union (EU) has prohibited the use of single-use plastic and is promoting the use of bio-degradable plastics in various industry verticals. In addition, bio-degradable plastics are increasingly used in the packaging industry to manufacture boxes, cups, and plates to reduce the carbon footprint. They are also utilized in the e-commerce industry, which is positively impacting the demand for bio-degradable plastics in the region. Furthermore, there has been growing research and development (R&D) activities to enhance the durability and resistance of bioplastics, which are creating a positive market outlook.
Breakup by Product Type:
PBAT
Bio-Degradable Polyesters
PBS
PHA
PLA
Starch Based
Others
Breakup by End Use Industry:
Food
Beverage
Pharmaceuticals
Personal Care and Home Care
Others
Breakup by Country:
Germany
France
United Kingdom
Italy
Spain
Others
Competitive Landscape with Key Player:
API SpA
BASF SE
Biome Bioplastics (Biome Technologies plc)
FKuR Kunstatoff GmbH
Kingfa Sci. & Tech. Co., Ltd
Mitsubishi Chemical Corporation
Natureworks LLC (Cargill Incorporated)
Novamont S.p.A
Plantic (Kuraray Co., Ltd)
Toray Industries Inc
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IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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