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Biodegradable Plastics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company’s Biodegradable Plastics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, May 10, 2022 /EINPresswire.com/ -- Growing concerns for the environment are expected to increase the growth of the biodegradable plastics market. The major growing concerns for the environment are plastics. The increase in the usage of plastics is a growing concern of the environment. In January 2021, according to the data published by the European environment agency, the COVID-19 pandemic had made changes in the consumption, waste, and production of plastics. A recent BCG survey involving 3,000 people across eight countries found that in the wake of the pandemic, people were now more concerned about addressing environmental challenges and are committed to changing their own behavior to advance sustainability. Nearly 40% of respondents said that they intend to adopt more sustainable behavior in the future. Therefore, growing concerns for the environment is expected to drive the biodegradable plastics market growth.
The global biodegradable plastics market size is expected to grow from $3.74 billion in 2021 to $4.21 billion in 2022 at a compound annual growth rate (CAGR) of 12.6%. The global biodegradable plastic market share is expected to grow to $7.16 billion in 2026 at a CAGR of 14.2%.
Read more on the Global Biodegradable Plastics Market Report https://www.thebusinessresearchcompany.com/report/biodegradable-plastics-global-market-report
Product innovations are a key trend shaping the biodegradable plastics market outlook. Many organizations are launching innovative products in the biodegradable plastics, which are cost-effective and sustainable in nature. For example, in July 2021, Defense Research and Development Organization (DRDO) based in India had launched biodegradable packaging products that are manufactured from biodegradable plant-based food-grade materials. They are available in a water-resistant form and can be degraded in three months. These packaging bags are an ocean-safe alternative to single-use plastics, cost-effective and sustainable.
Major players covered in the global biodegradable plastics industry are BASF, NatureWorks, BIOME TECHNOLOGIES PLC., Novamont S.p.A., Mitsubishi, Biome Bioplastics, Plantic, BIO-ON, Danimer Scientific, Novamont S.p.A, TORAY INDUSTRIES, INC, Kruger Inc., Total Corbion PLA, Perstorp, K.D. FEDDERSEN, UrthPact, LLC, BIoTec Pvt. Ltd., BioGreen, CLONDALKIN GROUP, Plantic Technologies Limited, Amcor limited, and Mondi Group.
TBRC’s global biodegradable plastics market report is segmented by type into polylactic acid (PLA), polybutylene adipate terephthalate (PBAT), polybutylene succinate (PBS), PHA (polyhydroxyalkanoates), starch blends, others, by end-user into packaging, agriculture, consumer goods, others.
Biodegradable Plastics Global Market Report 2022 – By Type (Polylactic Acid (PLA), Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), PHA (Polyhydroxyalkanoates), Starch Blends, Other Types), By End-User (Packaging, Agriculture, Consumer goods, Other End-Users) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a biodegradable plastics market overview, biodegradable plastics market forecast biodegradable plastics market size and biodegradable plastics market growth for the whole market, biodegradable plastics market segments, biodegradable plastics market geographies, biodegradable plastics market trends, drivers, restraints, leading competitors’ revenues, profiles, and market shares.
Request for a Sample of the Global Biodegradable Plastics Market Report https://www.thebusinessresearchcompany.com/sample.aspx?id=5872&type=smp
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About The Business Research Company? The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research. It has over 200 research professionals at its offices in India, the UK and the US, as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services and technology. Read more about us at https://www.thebusinessresearchcompany.com/about-the-business-research-company.aspx
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