The global biodegradable plastics market size was valued at USD 2.76 billion in 2021, at a CAGR of 19.2% during the forecast period 2022-2028. Microbes, carbon dioxide, live organisms, water, and biomass all contribute to the decomposition of biodegradable polymers. Microorganisms, renewable raw resources, and petrochemicals are used to make biodegradable plastics. Currently, disposing of plastic and its massive waste has become a major environmental issue around the world, and rising issues with petroleum-based plastics, also including disposal management, are encouraging growth in the biodegradable plastics market. To construct a developing circular economy, companies in the biodegradable plastics market should raise awareness about bioplastic recycling through social media and traditional marketing channels. Bioplastics recycling is critical in the bio based economy, as it entails converting waste bioplastics and fossil fuel plastics into new value-added commodities.

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The increased desire to reduce carbon emissions during the production process of biodegradable plastics is a key driving factor for the biodegradable plastics market. People are becoming more aware of the benefits of biodegradable plastics over conventional plastics, which is driving up demand for biodegradable plastics. Furthermore, biodegradable plastics may be recycled to make new plastic items, also including packaging material, and it takes less time to degrade than traditional plastic, which will drive the biodegradable plastic industry forward. Furthermore, widespread public support and corporate action to reduce plastic pollution will improve the likelihood of biodegradable plastics adoption, resulting in increased demand for the biodegradable plastics industry. The high cost of manufacturing, on the other hand, is expected to limit the expansion of the biodegradable plastics industry. Furthermore, not all biodegradable polymers breakdown rapidly in the natural environment, as they demand a specific humidity and temperature setting. Some biodegradable polymers emit greenhouse gases after decomposition, which is harmful to the environment and limits market expansion.

The global biodegradable plastics market Segmentation: 
 1) By Product: PLA, PHA, PBS, PBAT, Starch Based, Polycaprolactone, others.
 2) By Application: Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Others.

Due to increased public awareness about plastic pollution and the European Union's prohibition on single-use plastics in this region, Europe dominates the biodegradable plastics industry. Due to rising disposable income and better living standards in developing nations such as India and China, Asia-Pacific is predicted to rise at a substantial rate from 2021 to 2028.

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some of the major key players working in biodegradable plastics market, which include BASF SE, Natureworks, Total Corbion PLA, Toray Industries, Plantic Technologies, Novamont S.P.A., Mitsubishi Chemical Corporation, Danimer Scientific, Bio-On, Biome Bioplastics 

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