The biodegradable polymers market size is estimated to be USD 9.2 Billion in 2024 and is anticipated to reach USD 40.34 Billion by 2029 with a CAGR of 20.5% during the forecast period.
Biodegradable polymers are polymers that can be decomposed under aerobic or anaerobic conditions due to the presence of microorganisms or enzymes. Polymers with biodegradable properties are known as “green materials,” which have shorter lifetimes than synthetic polymeric materials. Even though the abundance of biopolymers is high, synthetic biodegradable polymers are being designed and synthesized to acquire physical and chemical properties, which have wide applications in cosmetics, wound dressings, enzyme immobilization, gene delivery, and other applications. The increasing adoption of sustainable and eco-friendly practices regarding packaging and reducing carbon emissions among various industries is augmenting market growth.
The growing awareness among consumers and rising initiatives towards a safer environment are driving the market growth. Consumers are becoming aware of the harmful effects of conventional plastics on people and the environment, fueling global market revenue growth. The escalating government regulations in many countries to reduce conventional plastics and enhance the utilization of biodegradable materials are augmenting the market growth opportunities. The increased consumer demand for eco-friendly alternatives to conventional plastics, especially in the packaging industry, where most industries opt for biodegradable materials to meet sustainability targets, propels the global biodegradable polymers market expansion.
The accelerating technological advancements drive innovations in biodegradable polymer production and formulations that enhance their performance and expand diverse applications, proliferating market growth opportunities. The increasing collaborations among research institutions, regulatory authorities, and major industry players will provide growth opportunities for biodegradable polymers. The expansion of the agricultural industry will positively influence the global market. Advancements in research and development activities regarding biodegradable polymers to enhance their properties by broadening their applications will propel market growth.
The higher price of biodegradable polymers compared to synthetic polymers is a significant factor restraining the growth of global biodegradable polymers. These involve renewable feedstocks, and the specialized manufacturing procedures with stringent regulations will increase production costs. This may hamper the market growth opportunities due to the limited adoption rate. Another factor is the limited production scale for biodegradable polymers compared to conventional plastics. This will upsurge the demand, leading to increased costs and limited supply, which will hinder the market growth rate. The limited availability of feedstock for the production of biodegradable polymers is estimated to act as a restraining factor for market growth. Small-scale businesses will hesitate to invest in biodegradable alternatives compared to conventional ones due to budget restrictions that impede market growth. The need for awareness among the underdeveloped regional population and proper disposal and recycling infrastructure challenges market growth. Due to complexity, stringent regulations regarding product launches and approval act as a challenge in expanding the market.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
20.5% |
Segments Covered |
By Type, Application, and Region |
Various Analyses Covered |
Global, Regional, & Country Level Analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Market Leaders Profiled |
Biome Technologies, Borealis Group, Changsu, Evonik Health Care, Mitsubishi Chemical Corporation, NatureWorks LLC, Total Corbion PLA, Arkema, Braskem, Novament SPA, and others. |
Polylactic acid is sourced from plant sources such as sugarcane or cornstarch, which makes it an environmentally friendly substitute to conventional plastics. This is boosting the segment growth. The versatility of the PLA is enhancing its applications, such as food containers, packaging, and disposable cutlery, fueling the segment growth rate. The shifting preferences towards low carbon footprints, sustainable practices among various industries, and growing consumer awareness are escalating segment growth. The PLA's versatility and biocompatibility make it a popular choice in packaging, textiles, and biomedical industries, which drives the segment.
The starch-based segment has gained traction recently and is anticipated to grow significantly during the forecast period. Cost-effectiveness, wide availability, and durability are primary factors accelerating their adoption among people.
Biodegradable polymers play a crucial role in food packaging, such as containers, bags, wraps, trays, and bottles, which is driving the segment growth rate. Rising environmental concerns worldwide enhance the demand for biodegradable packaging initiatives, propelling the segment.
The agriculture segment is estimated to grow considerably and rapidly during the forecast period. In agriculture, biodegradable polymers are in high demand for mulch films, soil erosion control, and packaging, and sustainability initiatives in farming are augmenting the segment's growth.
The consumer goods segment is attaining market share growth due to rising demand for eco-friendly alternatives to single-use plastics for shopping bags, cutlery, and containers, which increase the market growth.
Large-scale manufacturing capabilities and the escalating demand for eco-friendly materials are the primary factors contributing to the largest share of the Chinese market. The growing government initiatives in promoting sustainable environment practices, large-scale industries, and the presence of key market players in the region are augmenting the market growth rate. The expanding industrial sectors and growing awareness among the people fuel the market growth in the regional countries. Japan is emerging with a significant market share due to escalating advanced technology and rising initiatives for environmental sustainability.
The increasing adoption among the U.S and Canadian people owing to increased awareness across the region is fueling the market growth. The United States is one of the massive consumers of plastic bags and packaging, which is encouraging the government to take initiatives such as recycling targets, recovery of plastic waste, and regulations that propel the regional market growth.
The growing acceptance of plant-based products among consumers and extensive raw materials supply in Germany augment the market growth in the region. Germany is considered the region's critical producer of biodegradable polymers.
Key Players in the global Biodegradable Polymers Market are Biome Technologies, Borealis Group, Changsu, Evonik Health Care, Mitsubishi Chemical Corporation, NatureWorks LLC, Total Corbion PLA, Arkema, Braskem, Novament SPA, and others.
By Type
By Application
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