Biodegradable Plastic Market Size Worth $10.0 Billion By 2030
Biodegradable Plastic Industry Overview The global biodegradable plastic market size is projected to reach USD 10.0 billion by 2030, according to a report by Grand View Research, Inc., rising at a CAGR of 9.7% during the forecast period. The increasing use of biodegradable plastics, owing to strict governmental laws prohibiting the use of conventional plastics, coupled with growing awareness among the public towards the ill effects of plastic waste is stoking the growth of the market. The above factors are expected to spur market growth during the forecast period. Biodegradable Plastic Market Segmentation Grand View Research has segmented the global biodegradable plastic market based on product, application, and region: Based on the Product Insights, the market is segmented into Starch Based, PLA, PBS, PBAT, PHA, Polycaprolactone. Starch-Based was the largest product segment for biodegradable plastics in 2021 with a revenue share of more than 40.0%. The starc...