Global Biobased Biodegradable Plastics Market is valued approximately USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2021-2027. Most plastics are made from fossil fuels, which contribute to increased greenhouse gas emissions and pollution. Bio-based plastics are fully or partially made from biological resources, rather than fossil raw materials. Biobased Biodegradable is being driven by growing Sustainable Packaging industry and favorable government initiatives & policies. For instance, according to as of 2020, biodegradable plastics, which includes PLA, PHA, starch blends and others, account for approximately 60 percent (over 1.2 million tonnes) of the total global bioplastics production capacities. By the year 2025 the production of biodegradable plastics is expected to increase to 1.8 million. this significant growth would be mainly due to Polyhydroxyalkanoates significant growth rates and new investments for PLA production in the US and in Europe. Also, in august 2020, Biome Bioplastics (UK's leading developer of natural plastics) has been awarded funding of USD 0.30 million from the UK Government's Innovate UK agency to support a new USD 0.39 million collaborative project to scale-up its novel compostable bioplastic materials in collaboration of the University of Nottingham's Department of Chemical and Environmental Engineering. Also, with the increasing demand from end use industry and Shifting trends towards biodegradable plastics, the adoption & demand for Biobased Biodegradable Plastics is likely to increase the market growth during the forecast period. However, lack of awareness for biobased plastics and low durability as compared to conventional plastics are some of the major factors that impede the growth of the market over the forecast period of 2021-2027.

The key regions considered for the global Biobased Biodegradable Plastics market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to increasing demand sustainable packaging solutions in the region. Whereas, North America is anticipated to exhibit highest growth rate / CAGR over the forecast period 2021-2027. Factors such as increasing adoption of biobased products and presence of leading players in the region would create lucrative growth prospects for the Biobased Biodegradable Plastics market across Asia-Pacific region.

Major market player included in this report are:

Natureworks (US)

BASF (Germany),

Novamont (Italy),

Total Corbion (Netherlands),

Biome Bioplastics (UK),

Toray Industries (Japan),

Fkur Kunstsoff (Germany),

Mitsubishi Chemical Holding Corporation (Japan),

Danimer Scientific (US),

Plantic Technologies (Australia)

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product Type:

polyester

starch blends

poly lactic acid (PLA)

cellulose

polyhydroxyalkanoate (PHA)

other biobased biodegradable plastics

By Application:

packaging

fibres

healthcare

agriculture

others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019

Base year - 2020

Forecast period - 2021 to 2027

Target Audience of the Global Biobased Biodegradable Plastics Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors