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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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