Biodegradable Plastics MarketApplication, Growth, Size, Opportunities, Leading Companies, Trends, Key Segments, Regional Insights, and Forecast to 2028

The Biodegradable Plastics Market is expanding globally, driven by environmental concerns and stricter regulations. Growth is notable in North America, Europe, and Asia-Pacific, with increasing adoption across various industries and advancements in biodegradable materials.
The global biodegradable plastic market [https://www.marketsandmarkets.com/Market-Reports/biodegradable-plastics-93.html] is projected to reach USD 20.9 billion by 2028, at a CAGR of 21.3% from USD 7.9 billion in 2023. Environmental awareness, regulatory frameworks, circular economy initiatives, corporate sustainability goals, consumer preferences, and technological advancements are driving the market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93

Based on type, the biodegradable plastic market has been segmented into PLA, starch blends, PBAT, PBS, PHA and others. PLA has several advantages over traditional petroleum-based plastics. It is derived from renewable resources, reducing reliance on fossil fuels. It produces fewer greenhouse gas emissions during its manufacturing process compared to conventional plastics. PLA also has a lower carbon footprint and energy consumption compared to other biodegradable plastics like PHA or PBS.

Based on application, the biodegradable plastic industry [https://www.marketsandmarkets.com/ResearchInsight/biodegradable-plastics-market.asp] has been segmented into packaging, consumer goods, agriculture & horticulture, textile, and other applications. The use of biodegradable plastics in packaging opens opportunities for innovation and product differentiation. Companies can explore new packaging designs, materials, and marketing strategies that highlight the environmentally friendly attributes of their products. Biodegradable plastics offer versatility and can be customized to meet specific packaging requirements.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=93

Europe is the fastest-growing market for biodegradable plastics. Many companies in Europe are adopting sustainability strategies and setting ambitious sustainability goals. They are actively seeking alternatives to conventional plastics and incorporating biodegradable plastics into their operations and product offerings. These companies are motivated by environmental concerns, consumer demands, and the need to enhance their brand image and competitiveness.

The key global players in the biodegradable plastic market, such as BASF (Germany), NatureWorks (US), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Toray Industries (Japan), Plantic Technologies (Australia), Danimer Scientific (US), and Fkur Kunstsoff (Germany) have a strong foothold in their respective regions and are exploring geographic diversification options to expand their businesses. They are focusing on increasing their market shares through new product launches and expansions.

Request Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=93

About MarketsandMarkets Trademark

MarketsandMarkets Trademark has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore Trademark (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=biodegradable-plastics-marketapplication-growth-size-opportunities-leading-companies-trends-key-segments-regional-insights-and-forecast-to-2028]
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/biodegradable-plastics-93.html



This release was published on openPR.