In the current global movement towards sustainability and environmental conservation, the biodegradable plastic industry has emerged as a promising solution to the long-standing issue of plastic pollution. Understanding the statistics and trends within this industry is crucial for both businesses and consumers seeking to make informed decisions. In this blog post, we delve into the key statistics shaping the biodegradable plastic industry, from market size and growth projections to consumer attitudes and regulatory developments. Stay tuned to learn more about the fascinating world of biodegradable plastics and their impact on our environment.
The Latest Biodegradable Plastic Industry Statistics Explained
The biodegradable plastic market was valued at $4.7 billion in 2019.
The statistic states that the biodegradable plastic market had a total value of $4.7 billion in the year 2019. This value represents the total amount of money generated by the sales of biodegradable plastic products within the market during that specific year. The figure of $4.7 billion encapsulates the collective financial transactions related to biodegradable plastics, including sales, investments, and other revenue streams. This statistic serves as a key indicator of the scale and economic significance of the biodegradable plastic industry and highlights the growing demand and interest in eco-friendly alternatives to traditional plastics within the global market.
The biodegradable plastics market is expected to reach $7.6 billion by 2026.
The statistic “The biodegradable plastics market is expected to reach $7.6 billion by 2026” indicates a forecasted value for the market size of biodegradable plastics industry by the year 2026. This projection suggests significant growth and market expansion in the biodegradable plastics sector over the specified time frame. Factors contributing to this growth may include increasing awareness and concern about environmental issues, as well as regulations promoting sustainability and eco-friendly practices. This statistic serves as a key indicator for stakeholders, investors, and policymakers in understanding the potential economic impact and opportunities within the biodegradable plastics market in the near future.
Packaging holds the largest market share, accounting for more than 60% of the global biodegradable plastics market.
The statistic that packaging holds the largest market share, accounting for more than 60% of the global biodegradable plastics market indicates that packaging applications are the most significant driver of demand for biodegradable plastics. This implies that industries such as food and beverage, personal care, and other consumer goods heavily rely on biodegradable plastics for their packaging needs. The high market share also suggests a growing consumer preference for sustainable and environmentally friendly packaging solutions, leading businesses to increasingly adopt biodegradable materials. This statistic highlights the crucial role of packaging in driving the demand and development of biodegradable plastics as a more ecologically conscious alternative to traditional plastics in various sectors worldwide.
Europe leads with an estimated 40% of the total biodegradable plastics market in 2017.
The statistic indicates that Europe accounted for approximately 40% of the total market share for biodegradable plastics in 2017, signifying the region’s dominance in the industry. This could be a result of various factors such as government regulations promoting environmentally friendly practices, consumer awareness and demand for sustainable products, as well as technological advancements in the development of biodegradable plastic materials. The significant market share held by Europe suggests that the region has been successful in adopting and promoting the use of biodegradable plastics as an alternative to traditional plastics, aligning with global efforts towards sustainability and environmental conservation.
Polylactic acid (PLA) dominated the global biodegradable plastics market with over 45% revenue share in 2019.
This statistic states that Polylactic acid (PLA) claimed a significant portion of the global biodegradable plastics market revenue in 2019, specifically over 45%. This implies that PLA, a popular bioplastic material derived from renewable resources such as corn starch or sugarcane, had a strong presence and demand within the industry during that year. The dominance of PLA suggests that it was preferred by consumers, manufacturers, or other stakeholders in the market, possibly due to its biodegradability, renewable sourcing, or advantageous material properties. Additionally, this statistic highlights the growing importance and adoption of biodegradable plastics in addressing environmental concerns associated with traditional plastics.
About 23% of biodegradable plastic is recycled every year.
The statistic ‘About 23% of biodegradable plastic is recycled every year’ indicates that approximately one-fourth of biodegradable plastic materials are diverted from disposal to undergo recycling processes annually. This percentage serves as a measure of the efficiency of recycling efforts for biodegradable plastics, showing that a considerable portion of these materials are being successfully reintroduced into the production cycle rather than being discarded as waste. The statistic highlights the importance of continued efforts to increase recycling rates for biodegradable plastics in order to promote sustainability, reduce environmental impact, and enhance resource conservation in the plastics industry.
Europe is anticipated to reach a market volume of 1.3 million tons by 2026.
The statistic “Europe is anticipated to reach a market volume of 1.3 million tons by 2026” indicates the projected amount of a specific product that is expected to be consumed or produced in the European market by the year 2026. This statistic suggests that there is a growing demand or supply of this product within Europe, as reflected by the increasing market volume. The figure of 1.3 million tons provides a quantitative estimate of the scale of the market activity, serving as a benchmark for stakeholders such as producers, consumers, and policymakers to understand the trends and potential opportunities in the European market within the specified timeframe.
The demand for biodegradable plastics in Asia-Pacific region is expected to grow at a CAGR of 17.6% in the forecast period of 2020 to 2027.
The statement indicates that the demand for biodegradable plastics in the Asia-Pacific region is projected to experience a Compound Annual Growth Rate (CAGR) of 17.6% between the years 2020 and 2027. This means that, on average, the demand for biodegradable plastics is expected to increase by 17.6% each year during this period. This rapid growth rate highlights a significant trend towards sustainability and environmental consciousness in the region, driving the demand for eco-friendly alternatives to traditional plastics. Factors such as increasing awareness of environmental issues, government regulations promoting the use of biodegradable plastics, and a shift towards sustainable practices by businesses and consumers likely contribute to this projected growth.
In China, it was estimated that between 500,000 to 1.5 million tons of bio-based plastic were consumed in 2015.
The statistic regarding the consumption of bio-based plastic in China in 2015 indicates that a significant amount of this environmentally friendly material was utilized within that year. The estimated range of 500,000 to 1.5 million tons signifies the uncertainty in the exact quantity consumed but highlights the scale of adoption of bio-based plastics as an alternative to traditional, petroleum-based plastics. This statistic underscores China’s commitment to sustainability and reducing its reliance on non-renewable resources in the manufacturing and packaging industries. The wide range of estimates also suggests potential growth and variability in the adoption of bio-based plastics in the country, reflecting ongoing efforts to promote a more sustainable approach to plastic consumption.
In 2021, the sustainability trend is likely to spike the demand for biodegradable plastic by 9.5%.
The statistic indicates that in 2021, there is expected to be a significant increase in the demand for biodegradable plastic, specifically by 9.5%. This spike in demand can be attributed to the growing sustainability trend that has been gaining momentum in various industries and among consumers globally. As individuals and organizations increasingly prioritize environmentally friendly practices, a shift towards products like biodegradable plastics, which decompose more easily and have a lower impact on the environment compared to traditional plastics, is becoming more prominent. This increase in demand for biodegradable plastics not only reflects a broader shift towards sustainable practices but also highlights the need for more eco-friendly solutions in the market.
The agricultural sector is projected to show the fastest growth in the biodegradable plastics market at a CAGR of 20.5% from 2019 to 2026.
The statistic indicates that the agricultural sector is expected to experience the highest growth rate within the biodegradable plastics market, with a compound annual growth rate (CAGR) of 20.5% from 2019 to 2026. This forecast suggests that the demand for biodegradable plastics within the agricultural industry is likely to significantly increase over the specified period. Factors such as increasing awareness about environmental sustainability, governmental regulations promoting the use of biodegradable products, and a shift towards eco-friendly solutions in agriculture may be driving this growth. The projection highlights a potential opportunity for businesses operating in the biodegradable plastics sector to focus on catering to the needs and requirements of the agricultural industry to capitalize on this anticipated growth trend.
Biodegradable plastic production capacity is set to increase from around 2.1 million tons in 2019 to 2.76 million tons in 2024.
The statistic indicates that there is a projected increase in the production capacity of biodegradable plastic from approximately 2.1 million tons in 2019 to 2.76 million tons by 2024. This growth signifies a positive trend towards the adoption and use of biodegradable plastics, possibly driven by environmental concerns and regulations. The expansion in production capacity suggests an increasing demand for biodegradable plastics as an alternative to traditional plastics, showcasing a shift towards more sustainable and eco-friendly practices in the plastics industry. The 2024 projection indicates a 31% increase in production capacity over a five-year period, highlighting the potential for further growth and development in the biodegradable plastics market.
Market revenue of biodegradable plastics in the U.S. is expected to be around 1.2 billion U.S. dollars by 2026.
The statistic indicates that the market revenue for biodegradable plastics in the United States is projected to reach approximately $1.2 billion by the year 2026. This forecast suggests a growing demand for environmentally friendly plastic alternatives as awareness and concern about plastic pollution and sustainability continue to rise. The increase in market revenue reflects potential shifts in consumer behavior and regulations towards more sustainable and eco-friendly products. Companies and stakeholders in the biodegradable plastics industry may see opportunities for expansion and investment in response to the anticipated market growth, driven by the increasing emphasis on environmental stewardship and the circular economy.
Biodegradable plastics represent about 1% of the 368 million tonnes of plastic produced globally in 2019.
The statistic indicates that biodegradable plastics accounted for approximately 1% of the total plastic production of 368 million tonnes worldwide in 2019. This suggests that the majority of plastics produced are not biodegradable, highlighting the dominance of conventional plastics in the global market. The low percentage of biodegradable plastics implies that there is still a significant reliance on traditional, non-biodegradable plastics that have a detrimental impact on the environment due to their persistence and potential for pollution. This statistic underscores the need to increase the adoption of biodegradable alternatives in order to reduce the environmental consequences associated with plastic waste.
The consumption of biodegradable plastics in Japan was expected to grow at a CAGR of 3.4% in 2020-2025.
The statistic indicates that the consumption of biodegradable plastics in Japan is forecasted to increase steadily over the period from 2020 to 2025, with a compound annual growth rate (CAGR) of 3.4%. This means that on average, the consumption of biodegradable plastics is projected to grow by 3.4% every year during this time frame. The upward trend suggests a growing awareness and adoption of sustainable practices in the country, likely driven by environmental concerns and regulatory initiatives promoting the use of biodegradable materials. The statistic provides valuable insight into the expected trajectory of biodegradable plastics consumption in Japan and indicates a shift towards more eco-friendly alternatives in the plastics industry.
References
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