Biodegradable plastics market 2023-2028

1. The biodegradable plastic market was valued at 8.06 billion in 2023, and it is anticipated to reach 28.35 billion at a 15.25% CAGR by the end of 2028. Market drivers and restraints: Biodegradable nature of plastics is estimated to be significant factors driving the global market over the recent period. The rise in awareness about eco-friendly products and strict regulations relating to the usage of traditional plastics is expected to drive the biodegradable plastics business. The critical factors for market growth are the significant initiatives taken by many governments to use biodegradable plastics over traditional plastics. The price of producing biodegradable plastics is much more than conventional plastics. The higher cost-effectiveness and lack of technology can be significant challenges to many manufacturers, but they can be overcome with technology advancement. Volatile prices of crude oil can be an opportunity for the manufacturer to shift to biodegradable plastics over petroleum-based conventional plastics. To know more, click on the link below: https://www.marketdataforecast.com/market-reports/biodegradable-plastics-market Report segmented as: By type: polyhydroxyalkanoates (PHA) polylactic acid (PLA) polybutylene succinate (PBS) polycaprolactone (PCL) starch-based plastics regenerated cellulose By end-user: packaging textile agriculture injection moulding Others Geographical analysis: North America Europe Asia Pacific Latin America

2. Middle east and Africa Important market players: Major players operating in the global Biodegradable Plastics market are BASF SE (Germany), Corbion (Netherland), Biome Technologies PLC (U.K.), Mitsubishi Chemical Corporation (Japan), NatureWorks LLC (U.S.), Cardia Bioplastics Limited (Australia), Cereplast Inc (U.S), Plantic Technologies Ltd (Australia) and others. View a sample and decide: https://www.marketdataforecast.com/market-reports/biodegradable-plastics-market/request- sample About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. For more information: Tel: +1-888-702-9626 Website: https://www.marketdataforecast.com/