Growing Sustainability Initiatives Propel the Global Biodegradable Plastic Market to 2030
The global biodegradable plastic market is projected to achieve significant growth, reaching a value of $14.43 Billion by 2030, with a steady compound annual growth rate (CAGR) of 13.38%.
- The global biodegradable plastic market is projected to achieve significant growth, reaching a value of $14.43 Billion by 2030, with a steady compound annual growth rate (CAGR) of 13.38%.
- System dynamics modeling is used for market analysis to predict future trends and project global production capacity by 2030.
- Public awareness of plastic pollution is driving the demand for improved plastic management, leading to increased usage of bio-based and biodegradable plastics.
- The market demand for PLA products is growing as sustainability becomes a priority and governments and industries focus on reducing plastic waste.