Press release
Biodegradable Plastic Market Qualitative Exploration Enhancing Research with Focus Group Methodology
Allied Market Research recently released a comprehensive report titled "Biodegradable Plastic Market by Biodegradable Plastic Type and Biodegradable Plastic Application: Opportunity Analysis and Industry Forecast, 2020-2027". According to the report, the global biodegradable plastic industry was valued at $1.6 billion in 2019 and is anticipated to reach $4.2 billion by 2027, with a compound annual growth rate (CAGR) of 13.3% during the forecast period.
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/6136
Key Drivers of Market Growth:
Eco-Friendly Nature and Consumer Adoption: The increasing consumer adoption of biodegradable plastics due to their eco-friendly characteristics is a significant driver of market growth.
High Demand in Food Packaging: There's a notable demand for biodegradable plastics in food packaging applications, contributing to market expansion.
Favorable Government Policies: Supportive government policies toward bio-plastics are fostering market growth.
Challenges:
High Cost: The high cost of biodegradable plastics poses a challenge to market growth.
Opportunities:
CSR Activities: The rise in corporate social responsibility (CSR) activities presents opportunities for market players.
Decreasing Dependence on Petroleum: There's potential for growth due to decreasing dependence on petroleum resources.
COVID-19 Impact:
The pandemic has led to increased usage of compostable plastic for making masks, PPEs, and other protective gear, raising concerns about plastic pollution. This has prompted a shift towards biodegradable plastics to mitigate environmental impacts.
Market Segmentation:
PLA Segment: Expected to register the highest CAGR, driven by its increasing application in sustainable food packaging.
Starch Blends Segment: Dominated the market in 2019, primarily due to demand in flexible packaging and agriculture.
Packaging Segment: Held the largest share in 2019, driven by consumer shift towards bio-based products.
Agriculture Segment: Expected to manifest the highest CAGR during the forecast period, fueled by the growing application of biodegradable mulch films.
Regional Analysis:
Europe and North America: Dominated the market in 2019, with Europe leading due to supportive legal frameworks. However, LAMEA is expected to exhibit the highest CAGR, driven by the abundance of sugarcane feedstock.
Major Market Players:
- Biome Technologies plc
- Mitsubishi Chemical Holdings
- Eastman Chemical Company
- Danimer Scientific
- BASF SE
- Dow Inc.
- Novamont S.p.A.
- Plantic
- Natureworks
- Corbion N.V.
Obtain Report Details: https://www.alliedmarketresearch.com/biodegradable-plastic-market
Contact:
David Correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/6136
Key Drivers of Market Growth:
Eco-Friendly Nature and Consumer Adoption: The increasing consumer adoption of biodegradable plastics due to their eco-friendly characteristics is a significant driver of market growth.
High Demand in Food Packaging: There's a notable demand for biodegradable plastics in food packaging applications, contributing to market expansion.
Favorable Government Policies: Supportive government policies toward bio-plastics are fostering market growth.
Challenges:
High Cost: The high cost of biodegradable plastics poses a challenge to market growth.
Opportunities:
CSR Activities: The rise in corporate social responsibility (CSR) activities presents opportunities for market players.
Decreasing Dependence on Petroleum: There's potential for growth due to decreasing dependence on petroleum resources.
COVID-19 Impact:
The pandemic has led to increased usage of compostable plastic for making masks, PPEs, and other protective gear, raising concerns about plastic pollution. This has prompted a shift towards biodegradable plastics to mitigate environmental impacts.
Market Segmentation:
PLA Segment: Expected to register the highest CAGR, driven by its increasing application in sustainable food packaging.
Starch Blends Segment: Dominated the market in 2019, primarily due to demand in flexible packaging and agriculture.
Packaging Segment: Held the largest share in 2019, driven by consumer shift towards bio-based products.
Agriculture Segment: Expected to manifest the highest CAGR during the forecast period, fueled by the growing application of biodegradable mulch films.
Regional Analysis:
Europe and North America: Dominated the market in 2019, with Europe leading due to supportive legal frameworks. However, LAMEA is expected to exhibit the highest CAGR, driven by the abundance of sugarcane feedstock.
Major Market Players:
- Biome Technologies plc
- Mitsubishi Chemical Holdings
- Eastman Chemical Company
- Danimer Scientific
- BASF SE
- Dow Inc.
- Novamont S.p.A.
- Plantic
- Natureworks
- Corbion N.V.
Obtain Report Details: https://www.alliedmarketresearch.com/biodegradable-plastic-market
Contact:
David Correa
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
