Global Biodegradable Plastic Bags Market Insights and Forecast to 2028

Biodegradable plastic bags are created using materials that will allow the bags to completely decompose after a period of time. Most biodegradable plastic bags are said to decompose in three years, although many completely disintegrate in less time. The bags leave no discernible trace and are completely harmless to the environment. Biodegradable plastic bags require two key elements in order to decompose. The bags need to be exposed to oxygen and light. Therefore, biodegradable plastic bags do not start to decompose from the date of manufacture, only after they have been exposed to light and air.
Market Analysis and Insights: Global Biodegradable Plastic Bags Market
Due to the COVID-19 pandemic, the global Biodegradable Plastic Bags market size is estimated to be worth US$ 798.3 million in 2022 and is forecast to a readjusted size of US$ 1027.7 million by 2028 with a CAGR of 4.3% during the review period. Fully considering the economic change by this health crisis, Polylactic Acid (PLA) accounting for % of the Biodegradable Plastic Bags global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Food Packaging segment is altered to an % CAGR throughout this forecast period.
China Biodegradable Plastic Bags market size is valued at US$ million in 2021, while the US and Europe Biodegradable Plastic Bags are US$ million and US$ million, severally. The proportion of the US is % in 2021, while China and Europe are % and % respectively, and it is predicted that China proportion will reach % in 2028, trailing a CAGR of % through the analysis period. Japan, South Korea, and Southeast Asia are noteworthy markets in Asia, with CAGR %, %, and % respectively for the next 6-year period. As for the Europe Biodegradable Plastic Bags landscape, Germany is projected to reach US$ million by 2028 trailing a CAGR of % over the forecast period.
The global key manufacturers of Biodegradable Plastic Bags include BioBag, Novolex, EnviGreen, Plastiroll, Sahachit, Xtex Polythene, RKW Group, Abbey Polythene and Sarah Bio Plast, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
Global Biodegradable Plastic Bags Scope and Segment
Biodegradable Plastic Bags market is segmented by Raw Materials and by Application. Players, stakeholders, and other participants in the global Biodegradable Plastic Bags market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by Raw Materials and by Application for the period 2017-2028.
Segment by Raw Materials
Polylactic Acid (PLA)
Polyhydroxyalkanoate (PHA)
Starch Blends
Others
Segment by Application
Food Packaging
Convenient for Shopping
Garbage Containing
Industrial Packaging
Others
By Company
BioBag
Novolex
EnviGreen
Plastiroll
Sahachit
Xtex Polythene
RKW Group
Abbey Polythene
Sarah Bio Plast
Bulldog Bag
Symphony Polymers
Jiangsu Torise biomaterials
JUNER Plastic packaging
Sahachit Watana Plastic Industry
By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE