This market research report identifies suppliers like BASF, NatureWorks, Arkema, Novamont, and Plantic to be the key vendors in the global biodegradable polymers market. It also presents a detailed segmentation of the market by type (polylactic acid, starch-based polymer, and others), by application (food packaging, foam packaging, biodegradable bags, agriculture, and others), and by geography (North America, Western Europe, and ROW).
Overview of the global biodegradable polymers market
Technavio’s market research analyst predicts the global biodegradable polymers market to grow exponentially at a CAGR of around 21% by 2021. One of the key factors driving the growth of this market is the rise in enhanced consumer appeal to eco-friendly packaging. As consumer focus is changing towards healthier living, the demand for a natural, sustainable, and green product is also increasing. This shift in consumer behavior has compelled the major plastics manufacturers and packaging vendors to explore the possibilities of biodegradable polymers. Moreover, the need to conform with government regulations is forcing vendors to focus on manufacturing biodegradable polymers and promote the products that have sustainable components in the export market. It has also been observed that consumers prefer sustainable options for plastic bags and food packaging. Single-use products such as bags, bottles, caps, cups, lids and straws have great potential to become truly sustainable products.
Western Europe accounted for the largest market share of the global biodegradable polymers market in 2016. This dominance is due to market maturation and easy adoption of new production technologies and greater consumer awareness in the region. The concept of biodegradable polymers has been familiar to the Western European market for more than two decades. Also, the legal framework and government strategies of Western European countries promotes the use of bio-based or biodegradable polymers through the provision of subsidies. For instance, the flagship initiative by European Commission for a resource-efficient Europe under the Europe 2020 Strategy supports the shift toward a resource-efficient low-carbon economy to achieve sustainable growth.
Competitive landscape and key vendors
The global biodegradable polymers market is highly fragmented due to the presence of with both regional and global vendors. The market is extremely competitive with major players competing to increase their market shares and geographic reach by acquiring local and regional players. The competition in the market will intensify further during the forecast period due to product extensions, innovation in technology, and the influx of private labels in the market.
Leading vendors in the market are –
The other prominent vendors in the biodegradable polymers market include Braskem, Cereplast, DSM, DuPont, Ecospan, Evonik Industries, FP International, Metabolix, Meredian Holdings Group, Toray and Industries.
Segmentation by product type and analysis of the biodegradable polymers market
- Polylactic acid (PLA)
- Starch-based polymer
During 2016, PLA-based biodegradable polymers dominated the biodegradable polymers market and accounted for a major part of the overall market share. The use of PLA-based biodegradable polymers is increasing owing to growing consumer appeal for biodegradable polymers in the packaging of deli and fresh consumables. PLA also has a high rate of water vapor transmission that aids the escape of water vapor from packaging and prevents fogging, keeping the food inside fresh. Due to the increasing use of PLA to manufacture credit cards, retail cards, membership cards the market for PLA base bio- degradable polymer is expected to grow over the forecast period.
Segmentation by application and analysis of the biodegradable polymers market
- Food packaging
- Foam packaging
- Biodegradable bags
The food packaging segment accounted for the largest share of the global biodegradable polymers market in 2016, and this trend is expected to continue throughout the forecast period. Packaging products made of biodegradable polymers are used in the packaging of fresh food, dry snacks, candy, bakery goods, juice bottles, and meat trays as well as coatings for beverage cups, films, and card stock. These polymers are being considered as a replacement for the conventional polyolefins used for food packaging.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global biodegradable polymers market?
- What are the key market trends impacting the growth of the global biodegradable polymers market?
- What are the challenges to market growth?
- Who are the key vendors in the global biodegradable polymers market?
- What are the market opportunities and threats faced by the vendors in the global biodegradable polymers market?
- Trending factors influencing the market shares of the North America, Western Europe, and ROW.
- What are the key outcomes of the five forces analysis of the global biodegradable polymers market?
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