The Biodegradable plastics market size was expected about USD 15.9 Billion in 2022. It is expected to rise at a CAGR of 11.69% to reach USD 21.8 Billion by 2028.

McDonald's said it will add recycling to its more than 36,000 locations around the world by 2025 and pledges that all packaging on customer products will come from "renewable, recycled or certified sources" by that same year. The business has also started to test alternatives to plastic straws by biodegradable plastic in Belgium. It will do the same later this year in a number of restaurants in the U.S., France, Australia, Norway and Sweden. Tests will also take place in a number of markets, including Malaysia, to offer straws only when they are requested by customers. The issue of plastic waste is a serious one. Europeans produce 25 million tons of plastic waste per year, according to the European Commission. Less than 30 percent of this is collected for recycling.

McDonald's joins a growing number of major companies looking to reduce their use of plastic. In January, U.K. supermarket Iceland, which specializes in frozen food, made a commitment to eliminate plastic packaging from its own brand products by 2023. The same month, bottled water brand Evian said it would produce all its plastic bottles from 100 percent recycled plastic by the year 2025. McDonald's, the world's biggest food chain, is also tackling the issue of unnecessary packaging. Currently, only 10 percent of McDonald's tens of thousands of locations allow people to recycle. Its new goal is to recycle guest packaging in 100 percent of its restaurants by 2025.

To know more read: https://www.marketdataforecast.com/market-reports/biodegradable-plastics-market-7938/

Market Segmentations

By Type

Polylactic Corrosive
Polyhydroxyalkanoates
Polybutylene Succinate
Polycaprolactone
Starch-based
Regenerated Cellulose
By End-user

Packaging
Textile
Agriculture
Injection Moulding
Geographical Segmentation:

North America
Europe
Asia Pacific
Latin America
Middle east and Africa
Key market players in the market are -

Mitsubishi Chemical Corporation
Biome Bioplastics
BIO-ON
Nature Works LLC
FKuR
About Us:

Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.

Contact Us:

Market Data Forecast

Phone: +1-888-702-9626

Email: [email protected]