Biobased Biodegradable Plastics Market is to Touch $15.7 Billion by 2030; The Biobased Biodegradable Plastics market is witnessing growing demand due to increasing awareness of oral health, the rising geriatric population, advancements in implant tec

The Biobased Biodegradable Plastics Market size is estimated to reach $15.7 billion by 2030, growing at a CAGR of  20.2% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Biobased Biodegradable Plastics Market - By Type (Polyhydroxyalkanoate (PHA), Polylactide Acid (PLA), Polybutylene Succinate (PBS), Polybutylene Adipate Terephthalate (PBAT), Starch Blends, and Others), By End-Use Industry (Packaging, Textile, Agriculture, Transportation, Building & Construction, Electrical & Electronics, Consumer Goods, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030” 

The biobased biodegradable plastics market is the increased adoption of innovative materials like polylactic acid (PLA) and polyhydroxyalkanoates (PHA). These materials offer eco-friendly alternatives to conventional plastics, driven by growing environmental concerns and regulatory pressures for sustainable packaging solutions. 

APAC is anticipated to experience the highest growth of CAGR of 11.3% in the Biobased Biodegradable Plastics market between 2024 and 2030. This significant growth is driven by increasing environmental concerns, stringent regulations, and the rising adoption of sustainable materials across various industries. For instance, in 2023, The BIS has introduced a provisional testing protocol for biodegradable plastics, requiring 90% biodegradation to pass. This process may take up to two years to ensure the material meets the standard for environmental safety and effectiveness in breaking down.

Many companies are increasingly integrating sustainability into their corporate social responsibility (CSR) strategies by setting ambitious environmental goals and adopting biodegradable plastics. These initiatives aim to reduce plastic waste and mitigate environmental impact. Companies are investing in research to develop eco-friendly materials that decompose naturally, minimizing their carbon footprint and reliance on fossil fuels. By transitioning to biodegradable plastics, firms are not only addressing consumer demand for sustainable products but also demonstrating a commitment to long-term environmental stewardship. These efforts reflect a broader trend of aligning business practices with ecological responsibility, ultimately contributing to a more sustainable future and reinforcing corporate values of environmental consciousness. 

Biobased plastics are increasingly used in the textile industry to promote sustainability. These materials, derived from renewable resources such as corn starch or sugarcane, offer an eco-friendly alternative to traditional petroleum-based plastics. They help reduce the carbon footprint and reliance on fossil fuels. Applications include biobased fibers in clothing, biodegradable films for packaging, and sustainable synthetic leather. By incorporating biobased plastics, textile manufacturers can enhance product durability while minimizing environmental impact. This shift supports a circular economy, where materials are recycled or composted, reducing waste and encouraging resource efficiency. As technology advances, the use of biobased plastics is expected to expand, driving further innovation and environmental benefits in the textile sector.

Key companies profiled in the Biobased Biodegradable Plastics Market are Versalis, Arkema S.A., Toyota Tsusho Corporation, BASF SE, Mitsubishi Plastics Inc., Corbion NV, Teijin Ltd., Natureworks LLC, Toray Industries Inc., Solvay SA.and Others.