Global biodegradable plastics market 2013-2019

19 November 2014

According to a new report by MarketsandMarkets, the biodegradable plastics market is estimated to witness a CAGR of 13.01% between 2014 and 2019, and is expected to generate a global market value of $3,476.87 million by 2019. Packaging is the largest application across the world. The market size, in terms of value for the same is projected to reach $2,007.94 million by 2019. The demand for eco-friendly packaging made from bio-based plastics is growing at a high rate. This is due to the products such as PLA, PHA, and starch-based plastics which are expected to find high demand in their applications. Increasing environmental legislations have encouraged the use of biodegradable plastics.
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