Global Biodegradable Plastic Packaging Market Insights
Global Biodegradable Plastic Packaging Market size was valued at USD 2.5 billion in 2021 and is poised to grow from USD 5.5 billion in 2022 to USD 14.1 billion by 2030, growing at a CAGR of 20.3% in the forecast period (2023-2030).
Biodegradable plastic packaging is a type of packaging material that can break down into natural substances in the environment under certain conditions, typically within a few months to a few years. It is designed to reduce the environmental impact of plastic packaging waste by degrading and decomposing it into non-toxic compounds that can be absorbed back into the natural ecosystem without harming the environment. Biodegradable plastics can be made from a variety of materials, including plant-based polymers such as polylactic acid (PLA), polyhydroxyalkanoates (PHA), and starch-based plastics, as well as from petroleum-based polymers that have been modified to make them biodegradable. It can be used for a wide range of applications, including food packaging, bags, containers, and other consumer products. It offers several advantages over traditional plastic packaging, including reduced waste, decreased dependence on fossil fuels, and a smaller carbon footprint. However, it's important to note that not all biodegradable plastics are created equal, and some may require specific conditions or processes to fully biodegrade. In addition, biodegradable plastic packaging should still be disposed of responsibly, such as by composting or recycling, in order to minimize its environmental impact.
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Top Player’s Company Profiles:
- Amcor plc
- Arkema S.A.
- BASF SE
- Bio-On S.p.A.
- Biome Bioplastics Limited
- Braskem S.A.
- Corbion N.V.
- Danimer Scientific, Inc.
- Dow Chemical Company
- DSM N.V.
- Eastman Chemical Company
- Ecolab Inc.
- Evonik Industries AG
- Fkur Kunststoff GmbH
- FKuR Plastics Corporation
- Mondi plc
- NatureWorks LLC
- Novamont S.p.A.
- Plantic Technologies Limited
- Total Corbion PLA
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