According to a market report by Lucintel, the future of the biodegradable plastics market looks promising with opportunities in the packaging & bag, consumer goods, and agriculture & horticulture industries. The biodegradable plastics market is expected to grow with a CAGR of 12% from 2019 to 2024. The major growth drivers for this market are increasing demand for renewable & bio-based raw materials, government regulations, and shift in consumer preferences towards eco-friendly packaging.
In this market, PLA, starch blends, PCL, regenerated cellulose, PBS, and PHA are the major material type. PLA is the largest segment of the biodegradable plastic market.
Within the biodegradable plastics market, packaging & bags, consumer goods, and agriculture & horticulture are the major end use industries. Packaging & bags is the largest end use segment of the biodegradable plastics.
Packaging, fibers, agriculture, and injection molding are the major applications of the biodegradable plastics market.
Europe will remain the largest market over the forecast period due to strict environmental regulations.
Metabolix Inc., BASF SE, Corbion NV, Natureworks LLC, Biome Technologies PLC, Mitsubishi Chemical Corp., Plantic Technologies Limited, Bio-On SRL., Meredian Inc., and Tianan Biologic Materials Co. Ltd. are among the major manufacturers of biodegradable plastics.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the biodegradable plastics market by application, material type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled "Biodegradable Plastics Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the biodegradable plastics market by application, material type, end use industry, and region as follows:
By Material Type [$M shipment analysis for 2013 – 2024]:
• PLA
• Starch Blends
• PCL
• Regenerated Cellulose
• PBS
• PHA
By Application [$M shipment analysis for 2013 – 2024]:
• Packaging
• Fibers
• Agriculture
• Injection Molding
• Others
By End Use Industry [$M shipment analysis for 2013 – 2024]:
• Packaging & Bags
• Consumer Goods
• Agriculture & Horticulture
By Region [$M shipment analysis for 2013 – 2024]:
• North America
− The US
− Canada
− Mexico
• Europe
− Germany
− Spain
− France
− The United Kingdom
− Russia
• Asia Pacific
− China
− Japan
− India
− South Korea
− Thailand
• Rest of the World

More than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high growth opportunities for the biodegradable plastics market by material type (PLA, starch blends, PCL, regenerated cellulose, PBS, and PHA), application (packaging, fibers, agriculture, injection molding, and others), end use industry (packaging & bags, consumer goods , and agriculture & horticulture), and region (North America, Europe, Asia-Pacific, and Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the biodegradable plastics market?
Q.5 What are the business risks and threats to the biodegradable plastics market?
Q.6 What are emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in the biodegradable plastics market?
Q.8 What are the new developments in the biodegradable plastics market? Which companies are leading these developments?
Q.9 Who are the major players in the biodegradable plastics market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last five years in the biodegradable plastics market?