The biodegradable polymers market share is expected to grow by USD 817.05 million, accelerating at a CAGR of 4.59% during the forecast period. The eco-friendly packaging will offer immense growth opportunities to market vendors. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
Biodegradable Polymers Market Analysis 2021-2025: View Free Sample Report
The biodegradable polymers market is segmented by Product (PLA, Starch-based polymer, and Others), End-user (Food packaging, Foam packaging, Biodegradable bags, Agriculture, and Others), and Geography (Europe, North America, APAC, South America, and MEA).
The biodegradable polymers market size in the PLA segment during the forecast period. The re-emergence of small and medium-sized enterprises (SMEs) in the food processing industry will drive the biodegradable polymers market growth in Europe. 36% of the market's growth will originate from Europe during the forecast period. Germany, the UK, and France are the key markets for biodegradable polymers in Europe.
In addition to the market drivers, the manufacturers focusing on sustainable production are the major biodegradable polymers market trends that positively impact market growth. However, factors such as difficulty in labeling and lack of consumer education may impede market growth.
This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.
The market is fragmented. Arkema SA, BASF SE, Braskem SA, DuPont de Nemours Inc., Evonik Industries AG, Koninklijke DSM NV, NatureWorks LLC, Novamont SpA, Plantic Technologies Ltd., and Toray Industries Inc. are some of the major biodegradable polymers market vendors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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