Global Biodegradable Plastic Market: Demand Analysis and Growth Forecast

Globally, 500 billion plastic bags are used by human and there is 13 million tonnes of plastic leakage into the ocean every year. In order to control the environmental concerns of conventional plastics such as air, water, and soil pollution, biodegradable plastics are invented. Biodegradable plastic decays naturally in the environment and it is the collection of bio-plastics that are made from renewable raw materials. As per the findings of a newly published market research report by IndustryARC, the global Biodegradable plastic market size was around $8 billion in 2018, and the demand will be growing at an impressive CAGR of around 11% during the forecast period of 2019 to 2025.

Increasing demand for biodegradable plastics from packaging industry, and use in medical applications is driving the growth of the biodegradable plastics market. Biodegradable plastics can be metabolized in human body through hydrolysis catalyzed by involving enzymes. Some biodegradable polymers are also designed for the use of slow release drug delivery and in the treatment of cancer for delivering the vaccines. 

Browse 53 Market Tables, 176 Figures spread through 149 slides and an in-depth TOC “Biodegradable Plastic Market (2019 - 2025)

Global Biodegradable Plastic Market: Leading Segments 

Analyst of the report says that packaging application is dominating among other diverse applications catered by the biodegradable plastic marketplace. The segment is estimated to grow with a good CAGR around 5% during the forecast period 2019-2025. The latest innovation of Aronax Technologies is the new-found demand for recyclable packaging. It mainly uses magnetic additive material for creating better moisture and air insulation. Sensitive products such as coffee and medicines are protected using this packaging material. Owing to latest innovations, the application of biodegradable plastics in packaging is increasing massively. APAC is estimated as the key region for the growth against other regions such as North America, and Europe with the maximum share of 35% during the forecast period. 

Global Biodegradable Plastic Market: Trends 

  • Edible Bio-plastic Food Wrappers Enter the Market –
By the usage of bi-products from the corn and shell fish industries, the researchers of University of Otago are deriving edible and readily compostable food wrappers. These wraps acts as an alternative to the existing petrochemical based plastics with new features to resist heat, and eat meals. In the press meet, Professor Oey mentioned that to test the toxicology of wrapping and ensure whether it is fit for human and animal consumption, The University was donated with $5000 by Otago Government in 2017.

  • Alternative to Plastic Straws Using Avocado pits –
Biofase, a Michacon Company are using 15,000 tonnes of Avocado seeds every day to convert into bioplastic straws. Due to their potential to inflict environmental damage, plastic straws are replaced with customer friendly biodegradable avocado straws. 

  • Manufacturing of Bio plastics by Shrimps –
Angeline Arora, a school girl from the Sydney High School has manufactured bioplastic from the waste shells of shrimps. She invented a method of crushing the shells in to powder, soak it in acid, and alkaline to remove contaminants by leaving pure chitin. Later chitin was mixed with fibroin; a protein from spider silk and then pressed in order to create thin sheets of bio-plastic.  

Global Biodegradable Plastic Market: Competitive Landscape 

Some of the key players operating in the biodegradable plastic market are, Mitsubishi Chemical Corporation, Cargill Incorporated and NatureWorks. Cargill produces various kind of bio degradable polymers in order to reduce environmental impacts and to improve the communities where humans live and work. Its Agri-pure AP-406 bio solvent product is an alternative for the usage of petroleum based driven solvents and other light mineral oils. Due to its lowest water hazard rating WGK 1, it is freely biodegradable. 

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Related Reports:

Biodegradable Bag Market: By Product Type (Oxo-Biodegradable, Hydro-Biodegradable, Others); By Application (Food and Beverage, Pharmaceutical, Packaging, Agriculture and Composting, Textile, Others); By Geography Forecast Period (2018 2024)

Biodegradable Packaging Market: By Type (Paper & Cardboard, Corn Starch, Bubble Wrap, Biodegradable Plastic, Others) By Application (Food & Beverage, Pharmaceutical, Biomedical, Home Care Packaging, Cosmetics, Others) By Geography - Forecast(2018 - 2023)

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