Europe Biodegradable Plastics Market

The Europe biodegradable plastics market is expected to grow from US$ 2,670.22 million in 2022 to US$ 7,300.79 million by 2028. It is estimated to grow at a CAGR of 18.3% from 2022 to 2028.

Growing Awareness Among Customers About Adverse Effects of Conventional Plastics is Drive Europe Biodegradable Plastics Market

The customers in developed and developing countries have been educated of the ill effects of conventional plastics on their lifestyle and the environment. As a result, they demand more environmentally friendly products, which leads to a depreciation in the use of crude oil and natural gas, that results in the reduction carbon footprints. Biodegradable plastic is a surrogate for nearly all conventional plastics used in a diverse range of applications. These plastics offer innovative alternatives with enhanced properties, along with distinctive ability to lessen the emissions as well as provide the same qualities and functionalities as that of conventional plastics. The biodegradable plastics are synthesized using renewable resources as well as fossil raw materials, such as cellulose ester, PLA, PHA, starch derivatives, and copolyesters (PBS, PBAT, etc.). Various organizations are engaged in bringing transformation in the handling of plastics, through strategic planning, communication, consumer awareness campaigns, documentary films, education, clean up campaigns, raising business awareness, scientific research, entrepreneurial innovation, legislation, and sustainability. The key aim is to educate the users regarding plastic pollution, thereby encouraging the invention of more sustainable solutions, and empowerment of more people and business organizations to take action to stop plastic pollution. Therefore, the revolution in consumer demand on the basis of environmental awareness, packaging convenience, and sustainable plastic production systems is boosting the Europe biodegradable plastic market growth.

Europe Biodegradable Plastics Market Overview

The Europe biodegradable plastic market is segmented into Germany, France, Italy, the UK, Spain, and the Rest of Europe. Europe biodegradable plastics market dominants the global market. The dominance is attributed to increasing environmental concerns among consumer and rising adoption of biodegradable plastics owing to its eco-friendly nature. Compared to conventional synthetic plastic, biodegradable plastics can reduce carbon dioxide emissions by 30-70%. Besides, it does not adversely impact the environment, as the material does not have any toxicity and degrades quickly. Biodegradable plastic represents 42% reduction in carbon footprints. In addition, rising research and development investment in the biodegradable plastic sector by private as well as public organizations has further surged the growth of the market.

Moreover, stringent regulations imposed on single use plastic band coupled with government initiatives towards adoption of biodegradable plastics has further surged the demand for market. The EU directive has proposed reducing the dependency on disposable plastics by 2030. In 2019, a new circular economy action plan was published in Europe. The European Commission announced a policy framework on sourcing, labeling, and using bio-based plastics and biodegradable and compostable plastics. The European Commission also assesses where bio-based feedstock leads to genuine environmental benefits, lowering the use of fossil resources. Consequently, these factors are anticipated to propel the demand for biodegradable plastics in the region during the projection period.

Europe Biodegradable Plastics Market Revenue and Forecast to 2028 (US$ Million)

Europe Biodegradable Plastics Strategic Insights

Strategic insights for the Europe Biodegradable Plastics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Biodegradable Plastics Report Scope

Europe Biodegradable Plastics Regional Insights

The geographic scope of the Europe Biodegradable Plastics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Europe Biodegradable Plastics Market Segmentation 

The Europe biodegradable plastics market is segmented into type, end user, and country.

Based on type, the Europe biodegradable plastics market is segmented into PLA, PHA, starch blends, PBS, PBAT, and others. In 2022, the starch blends segment registered a largest share in the Europe biodegradable plastics market.

Based on end-user, the Europe biodegradable plastics market is segmented into packaging and bags, agriculture and horticulture, consumer goods, and others. In 2022, the packaging and bags segment registered a largest share in the Europe biodegradable plastics market.

Based on country, the Europe biodegradable plastics market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In 2022, the Rest of Europe segment registered a largest share in the Europe biodegradable plastics market.

BASF SE; FKuR Kunststoff GmbH; Kingfa Science and Technology Co Ltd; Mitsubishi Chemical Holdings Corp; NatureWorks LLC; Novamont SpA; Plantic Technologies Ltd; TotalEnergies Corbion BV are the leading companies operating in the Europe biodegradable plastics market.