,” the market will be driven by the growing consumer awareness about the advantages of biodegradable plastics over conventional plastics.
Europe to Dominate the Biodegradable Plastics Market
Europe is expected to dominate the Biodegradable Plastics market during the forecast period due to the growing pressure on the governing bodies to reduce landfills, carbon emissions, and ocean plastic pollution. The rising number of Biodegradable Plastics manufacturers in Europe will also spur the growth of the market. North America follows suit as it aims to reduce its carbon footprint.
Selected Regulatory Analysis Done in the Full Report:
The packaging segment is forecast to hold the largest share in the biodegradable plastics market owing to the high demand from the food and beverage industry. The emerging trend towards eco-friendly packaging to mitigate garbage disposal and landfill problems is expected to bolster the demand for biodegradable products.
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Selected Driving Factors Mentioned in the Full Report
The growing demand for biodegradable plastic packaging in the food and beverage industry will drive the growth of the biodegradable plastics market.
The presence of a high spending population in developed countries will spur the demand for biodegradable plastic
Strict reforms by governments that insist on reduction of conventional plastic bags will drive the growth of the biodegradable plastic market.
The increasing interest in environmental conservation will bolster the growth of the biodegradable plastics market.
The growing trend towards eco-friendly packaging will elevate the demand for biodegradable plastics over the forecast period.
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Key Players of the Biodegradable Plastics Market
Braskem, Roquette, and Natureworks are the key players of the Biodegradable Plastic market.
Buhbli Organics and Peel Plastics have decided to lower the carbon footprint of their packaging by using Braskem’s I'm greenT bio-based Polyethylene in their Himalayan Bath Salts pouch.
Roquette offers plant-based monomers that can be used to create environmentally friendly plastics.
Natureworks provides naturally advanced materials which are made from renewable feedstocks.
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