Sep 10, 2020   SOURCE: BusinessWire

Biodegradable Polymers Market with Highlights on the Impact of COVID-19 (2020-2024) | Eco-friendly Packaging: Enhanced Consumer Appeal to Boost Market Growth | Technavio

The biodegradable polymers market is expected to grow by USD 3.98 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200909005821/en/

Technavio has announced its latest market research report titled Global Biodegradable Polymers Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Biodegradable Polymers Market 2020-2024 (Graphic: Business Wire)

Request challenges and opportunities influenced by COVID-19 pandemic - Request a Free Sample Report on COVID-19 Impacts

Growing environmental concerns and increasing stringency of regulations regarding the use of plastic are driving the demand for natural, sustainable, and green alternatives with functional benefits. Besides, consumers are increasing their preference for sustainable options over plastics. This is compelling major plastics manufacturers and packaging vendors to opt for biodegradable polymers. The use of biodegradable polymers will reduce the burden caused by single-use products such as bags, bottles, caps, cups, lids, and straws on the ecosystem. These factors are expected to drive the growth of the global biodegradable polymers during the forecast period.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44384

As per Technavio, the emergence of bio-based and renewable raw materials will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Biodegradable Polymers Market: Emergence of Bio-based and Renewable Raw Materials

Consumers are increasingly becoming aware of the harmful effects of plastics on the environment. This is driving many end-users to adopt sustainable solutions and reduce the dependence on petroleum-based plastics. Hence, vendors in the market are increasing the use of renewable energy sources, biomass, and bio-based raw materials such as starch and vegetable crop derivatives to produce biodegradable polymers. This trend is expected to have a positive impact on the growth of the global biodegradable polymers market during the forecast period.

“Government emphasis on efficient plastic waste management and a keen focus on sustainable production will further boost market growth during the forecast period,” says a senior analyst at Technavio.

Register for a free trial today and gain instant access to 17,000+ market research reports

Technavio's SUBSCRIPTION platform

Biodegradable Polymers Market: Segmentation Analysis

This market research report segments the biodegradable polymers market by Product (PLA, Starch-based polymer, and Others), Geography (Europe, North America, APAC, South America, and MEA), and Application (Food packaging, Foam packaging, Biodegradable bags, Agriculture, and Others).

The European region led the biodegradable polymers market in 2019, followed by North America, APAC, South America, and MEA respectively. During the forecast period, Europe is expected to register the highest incremental growth due to the shift toward a resource-efficient low-carbon economy in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.