Global Biodegradable Materials Market Size Will Reach $3569.15 Million in 2024

Global Biodegradable Materials Market Overview

According to Global Market Monitor, the global biodegradable materials market size will reach $3569.15 million in 2024 with a CAGR of 10.25% from 2024 to 2029.

Biodegradable materials decompose naturally through temperature, sunlight, or the processes of bacteria, fungi, molds, and other living organisms in a process known as composting. Food waste, grass cuttings, tree leaves, and branches are commonly composted products.

Growth in the Food Packaging Drives Market Development.

Food packaging, disposable tableware (including cups, plates, cutlery, etc.) and plastic bags are the largest end-user market for biodegradable goods and the main growth engine. Food safety is an important requirement for food production and packaging. The booming retail industry, increased consumer consumption of packaged food, rapid changes in lifestyles and food preferences, population growth, and economic growth in various regions will increase packaging solutions. The needs of the program and these areas will benefit from the “plastic limit order” or “ban on plastics” of government departments in various countries and regions.

The Drawbacks and High Cost of Materials Pose Challenges to the Market.

Biodegradable materials products still have some specific problems that have not yet been resolved, and promotion has been hampered. For example, degradable plastic bags, because degradable plastic bags have low load-bearing capacity, cannot meet the requirements of customers for more stuff and repeated use; second, degradable plastic bags are dull and yellow, with low transparency and seemingly not clean enough; thirdly, the price is higher, the cost of degradable materials is higher than that of traditional plastic bags.

With the increasing awareness of environmental protection, the biodegradable materials industry has brought tremendous development opportunities. The need to protect the world's cultural heritage and national scenic spots and the environmental pollution caused by plastics has become more and more important, and governments have listed white pollution as one of the key tasks. Europe, the United States, Japan, and other countries and regions have successively formulated and promulgated relevant laws and regulations, restricting the use of non-degradable plastics through measures such as partial bans, restrictions, compulsory collection and collection of pollution taxes, and vigorously developing biodegradable materials to protect the environment and protect soil. Other countries have taken similar measures: India has enacted legislation prohibiting the use of plastic packaging in the dairy industry; South African law has completely banned the use of plastic bags. With the development of national legislation, the increasing popularity of biodegradable materials has been strongly promoted.

In January 2021, China's non-degradable disposable plastic straws were fully replaced. With the gradual promotion of national policies and continuous development of degradable materials, inevitably, the adoption of degradable materials in the packaging of the food and beverage takeout industry.

Company Name	BASF SE
Website	www.basf.com
Established Time	1865
Plants Distribution	Europe, Asia, Australia, the Americas, Africa
Sales Region	Worldwide
Headquarters	Germany
Competitors	Solvay, Corbion

For more industry information, please refer to our latest released "2023 Global Biodegradable Materials Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".