The biodegradable polymers market is estimated to be valued at USD 7.9 billion in 2023. The biodegradable polymers market size is projected to reach USD 54.48 billion by 2033. Sales of biodegradable polymers are anticipated to grow at a CAGR of 21.3% through 2033.
Significant demand for biodegradable polymers arises as these replace synthetic polymers. Synthetic polymers are widely used in the packaging industry, creating serious environmental problems. Non-biodegradable polymers are becoming a newer challenge for policymakers due to their sizable market share in the packaging industry. Considering the issue, several brands are now opting for biodegradable polymers to reduce the threat of carbon dioxide emission and global warming.
According to research, 55% of consumers want to purchase from environmentally responsive brands. Therefore, numerous packaging firms are utilizing appropriate solutions for countering the environmental impacts of non-biodegradable conventional polymers. P&G, a firm specializing in climate and sustainable packaging, is making progress in developing innovative and natural packaging solutions. The company aims to reduce its footprint and greenhouse gas emissions by 2030.
Key Biodegradable Polymers Market Highlights
| Attributes | Key Insights |
|---|---|
| Biodegradable Polymers Market Valuation (2023) | USD 7.9 billion |
| Estimated Biodegradable Polymers Market Market Valuation (2033) | USD 54.48 billion |
| Value-based Biodegradable Polymers Market CAGR (2023 to 2033) | 21.3% |
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The global biodegradable polymers market was valued at USD 6.6 billion in 2022 and is anticipated to reach USD 7.9 billion in 2023. Increasing demand for sustainable packaging in healthcare and food and beverage sectors is expected to drive the biodegradable materials market.
The popularity of sustainable packaging is growing among consumers. As a result, several companies are looking for biodegradable options that can be decomposed easily without harming the environment.
TIPA Compostable Packaging deals in sustainable packaging solutions that manufacture ready-to-pack bags and pouches using eco-friendly material and bio-plastic technology.
Easily Decomposable and Free of Toxic Materials
Biodegradable polymers are free of toxic materials that break down easily within six months in industrial composting. Biodegradable materials can be easily decomposed, adding nutrients to the soil. Synthetic polymers take nearly 1,000 years to decompose.
Supports Health and Farm
Packaging materials made of natural and recycled materials give a boost to the biodegradable packaging. These are produced from peanuts, cornstarch, mushrooms, seaweeds, and other organic fibers. They are attractive and sturdy and utilize agricultural waste, which is also a blessing for farming.
Principal Consultant
The biodegradable polymer market represents another key area for opportunities in the polylactic acid (PLA) segment. The need for eco-friendly alternative polymers is driving the demand for polylactic acid. The segment recorded a valuation of USD 1 billion in 2022 and is expected to thrive at a CAGR of 11.9% through 2033. The market is expected to be valued at USD 3.1 billion by 2033.
| Top Type | Polylactic Acid |
|---|---|
| biodegradable Polymers Market CAGR (2023 to 2033) | 11.9% |
| biodegradable Polymers Market Valuation by 2033 | USD 3.1 billion |
The emergence of bio-based raw ingredients, such as derivatives of biomass and crop vegetables, is expected to drive the market. Bioplastics have been witnessing rising demand from the retail goods and packaging sector as they help retain the freshness of products. Therefore, their application in food packaging, biomedical, and wastewater treatment is driving sales of biodegradable polymers.
Polylactic acid biodegradable polymers are expected to gain traction over the projected period. They are being increasingly utilized in the packaging, agriculture, textile, and medical industries. Their wide-ranging applications in the biomedical sector are fostering the demand for biodegradable polymers.
Europe reduced 44% of plastic waste landfilling between 2006 and 2018. It is the first market to step ahead in recycling to recover waste that cannot be decomposed. According to a survey, 29 million metric tons of plastic were recovered from European countries in 2018.
The below section highlights the biodegradable polymers market revenue by key countries. China is the leading market, with a historical growth rate of 5%. The biodegradable polymers market in Germany recorded a valuation of USD 669 million in 2022.
| Key Countries to Watch for | Valuation in 2022 |
|---|---|
| China | USD 765 million |
| Germany | USD 669 million |
Reduced polymer manufacturing and stringent government regulations have paved the way for China to play a significant role in driving revenue growth. In 2022, China witnessed a market size of USD 765 million and recorded a CAGR of 5%.
According to the China National Development and Reform Commission, the country witnessed a reduction in plastic packaging by 40%, after implementing the plastic bags policy. China is the leading producer of biodegradable polymers and is expected to thrive at a CAGR of 24% over the forecast period.
Acceptance for plant-based products among consumers and an extensive supply of raw materials that can be recycled is driving the market in Germany. The biodegradable polymers market recorded a CAGR of 21% during the historical period. It reached a value of USD 669 million by 2022.
Germany is the key producer of biodegradable polymers. By 2025, the consumption of petroleum-based plastics in the country is expected to reduce by 20%. Bioeconomy Strategy and Action Plans implemented by the EU and UN are the prominent motivators for Germany to become a leader in the market.
Increasing environmental issues and growing awareness regarding the use of renewable polymers are expected to drive market growth. Stringent regulations and active promotion of sustainable practices boost eco-friendly alternatives.
The United States is among the massive consumers of plastic bags and packaging. Therefore, recovery of waste plastic, recycling targets, collection and waste disposal laws enhance the biodegradable polymers market in the United States.
Canada recorded a market share of 6% in 2022 and is expected to generate huge revenue due to the ban on conventional plastic bags. Changing climatic conditions and the increasing impact of GHG are escalating the need to shift toward reusable bags.
For instance,
Several brands in India have reduced their production of toxic packaging materials. In 2022, the Government of India imposed a ban on single-use plastic to curb pollution.
In 2019, IIT Guwahati developed a biodegradable plastic to manage solid waste. According to CoE-SusPol, the cutting-edge technology is cost-efficient and has no hazardous chemicals.
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Manufacturers in the biodegradable polymers market are focusing on increasing their market share and presence. They are collaborating with key players and research institutions to introduce advanced technologies and product innovations.
Key Companies to Watch For
Novamont
The company is taking the initiative to eliminate plastic pollution by being a part of the New Plastics Economy. This initiative helps create a sustainable plastic economy, thereby redefining the limitations of plastic materials for packaging.
Plantic
The company aims to expand its global presence with new product launches. The company has introduced meat packaging made up of renewable and recyclable material. Plantic is the first company in Australia to take such a dynamic initiative in food packaging.
Cortec Group
The company has planned to expand its product portfolio by partnering with recapitalized Window Nation, Inc. In addition, the partnership has also been done to maximize the energy efficiency of windows. The expertise of both companies is expected to provide beneficial opportunities for the biodegradable polymers market.
Recent Developments in the Biodegradable Polymers Market
Evonik Industries AG, Toray Industries Inc., and Koninklijke DSM NV are some of the key players.
The packaging segment is expected to dominate the biodegradable polymers market.
The high cost of sustainable materials for packaging restricts the market’s growth.
Increasing demand for eco-friendly packaging is the key trend in the market.
Asia Pacific provides major opportunities for manufacturers of biodegradable plastics.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. End-Use Industry 6.2. Type 7. Global Market Analysis and Forecast, By End-Use Industry 7.1. Packaging 7.2. Textile 7.3. Agriculture 7.4. Healthcare 7.5. Consumer Goods 7.6. Others 8. Global Market Analysis and Forecast, By Type 8.1. Starch-based Polymers 8.2. Polylactic Acid (PLA) 8.3. Polyhydroxy Alkanoates (PHA) 8.4. Polyesters 8.5. Others 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Eastern Europe 9.4. Western Europe 9.5. Asia Pacific 9.6. The Middle East and Africa 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 15. The Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries 16. Sales Forecast by End-Use Industry and Type for 30 Countries 17. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 18. Company Profile 18.1. Evonik Industries AG 18.2. Toray Industries Inc. 18.3. Koninklijke DSM NV
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Biodegradable Polymers Market
