According to the latest report by IMARC Group, titled “Europe Biodegradable Plastic Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the europe bio-degradable plastic market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 12% during 2021-2026.
Bio-degradable plastics or bioplastics are designed to be decomposed upon exposure to microorganisms into water, carbon dioxide, and biomass under specific conditions. They are primarily produced using all-natural plant- or animal-based raw materials, such as orange peels, soybeans, switchgrass, etc. Some of the different types of bio-degradable plastics like Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), etc., help to reduce carbon dioxide emissions, lower manufacturing costs, and minimize waste production levels. As a result, bio-degradable plastics are widely used across various industries, such as food and beverages, pharmaceuticals, personal and home care, textile, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
Increasing consumer concerns towards the detrimental impact of synthetic plastics on the environment are primarily driving the demand for bio-degradable plastics in Europe. Additionally, the changing preferences from single-use plastic towards recyclable and eco-friendly alternatives that reduce carbon footprints, are also propelling the Europe bio-degradable plastics market. This is further supported by implementation of stringent regulations by the European Commission against single-use plastics. Besides this, the continuous replacement of conventional plastics with bio-degradable boxes, cups, plates, etc., in the foodservice sector is also augmenting the market growth. Moreover, the emerging e-commerce industry is increasingly adopting bioplastic packaging solutions to support ecological sustainability and reduce landfills. In the coming years, continuous technological innovations and extensive R&D activities aimed at enhancing the durability and heat-resistance of bioplastics will continue to drive market growth across the region.
Breakup by Product Type:
- PBAT
- Bio-Degradable Polyesters
- PBS
- PHA
- PLA
- Starch Based
- Others
Breakup by End Use Industry:
- Food
- Beverage
- Pharmaceuticals
- Personal Care and Home Care
- Others
Breakup by Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
API SpA, BASF SE, Biome Bioplastics (Biome Technologies plc), FKuR Kunstatoff GmbH, Kingfa Sci. & Tech. Co., Ltd, Mitsubishi Chemical Corporation, Natureworks LLC (Cargill Incorporated), Novamont S.p.A, Plantic (Kuraray Co., Ltd) and Toray Industries Inc.
The report has segmented the market on the basis on country, product type, end Use industry.
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