Market Size of Biodegradable Plastics in Germany (2017 – 2021)
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The Market value of Biodegradable plastics in Germany reached $668.6 million in 2021
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During the same period, the industry witnessed a Market volume of 132.7 thousand tonnes
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The industry recorded a historical growth (CAGR) of 26.4% between 2017 and 2021 in terms of value, while the underlying market volume grew (CAGR) by 21.3% between 2017 and 2021
Market Size of Biodegradable Plastics in Germany (2017 – 2021)
Eco-friendly properties of bioplastics, high consumer acceptance for plant-based products, legislative backing for developing degradable packaging materials, and abundant supply of renewable raw material sources to produce bioplastics are a few of the major market drivers for bioplastics. Bioplastic production is highly energy-efficient, as it requires 65% less energy compared to conventional plastic. It also significantly reduces wastage as these materials do not have any toxicity and can degrade easily and emit lower greenhouse gases during degradation. Furthermore, increased demand for bioplastics is expected to reduce the consumption of petroleum used for the production of conventional plastic by 15—20% by 2025.
Bioplastics are produced from natural resources such as vegetable oils and starches. It can be further segregated into Bio-based, Non-Biodegradable plastics, and biodegradable plastics. Biodegradable plastics can be considered fully green as they are made from renewable resources. When it comes to managing waste, bio-degradable plastic is termed circular because its components are mostly either reused or recycled.
The global biodegradable plastics market size is projected to grow at a CAGR of more than 24% between 2021 and 2026. Germany is one of the largest producers of bio-degradable plastic along with China, the United States, Brazil, and Canada among the top five countries. Germany’s bio-degradable plastic market was valued at $669 million in 2021 with a market volume of 133 thousand tonnes. The country’s market grew at a compounded annual growth rate (CAGR) of 26.4% between 2017 and 2021 in terms of value, and the underlying volume also grew at a CAGR of 21.3% between 2017 and 2021.
The European Union and United Nations are some of the major advocators and motivators of the bioplastics market. Big economies like the United States and China along with the European Union countries have unveiled significant bioeconomy strategies, and the list of other countries producing their bioeconomy strategies is growing. As there are a significant number of countries involved in the UN and EU, Bioeconomy Strategy and Action Plans could stimulate policy actions directly targeting the bioplastics market along a broad front. A crucial step for the governments could be to implement measures aimed at the development, perhaps via public-private partnerships, of essential scale-up facilities and demonstrator plants.
Eco-friendly properties of bioplastics, high consumer acceptance for plant-based products, legislative backing for developing degradable packaging materials, and abundant supply of renewable raw material sources to produce bioplastics are few of the major market drivers for bioplastics. Bioplastic production is highly energy efficient, as it requires 65% less energy compared to conventional plastic. It also significantly reduces wastage as these materials do not have any toxicity and can degrade easily and emit lower greenhouse gases during degradation. Furthermore, increased demand of bioplastics is expected to reduce consumption of petroleum used for production of conventional plastic by 15—20% by 2025.
Bioplastics are produced from natural resources such as vegetable oils and starches. It can be further segregated into: Bio-based, Non-Biodegradable plastics and biodegradable plastics. Biodegradable plastics can be considered fully green as they are made from renewable resources. When it comes to managing waste, bio-degradable plastic is termed circular because its components are mostly either reused or recycled.
The global biodegradable plastics market size is projected to grow at a CAGR of more than 24% between 2021 and 2026. Germany is one of the largest producers of bio-degradable plastic along with China, United States, Brazil, and Canada among the top five countries. Germany’s bio-degradable plastic market was valued at $669 million in 2021 with market volume of 133 thousand Tonnes. The country’s market grew at a compounded annual growth rate (CAGR) of 26.4% between 2017 and 2021 in terms of value, and the underlying volume also grew at a CAGR of 21.3% between 2017 and 2021.
The European Union and United Nations are one of the major advocators and motivators of the biodegradable plastics market. As there are a significant number of countries involved in the UN and EU, the Bioeconomy Strategy and Action Plans, could stimulate policy actions directly targeting biodegradable plastics market along a broad front. Big economies like the United States and China along with the European Union countries have already unveiled significant bioeconomy strategies, while other countries are not far behind. A crucial step for the governments could be to implement measures aimed at the development, perhaps via public-private partnerships, of essential scale-up facilities and demonstrator plants.
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