Biodegradable Plastics Market Growth, Industry Analysis | Leading Players, Industry Updates, Future Growth
Biodegradable Plastics Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “ Biodegradable Plastics Market Information: by Product Type, Application - Forecast till 2028. ” the market size is projected to be worth USD 16.81 billion by 2027, registering a CAGR of 14.87% during the forecast period (2021 - 2027), The market was valued at USD 3.56 billion in 2020. Market Scope: The biodegradable plastics market is fostered by the escalating product demand owing to the rise in economic standards as well as the growth in consumer spending. With growing concerns about the conventional plastics’ toxic effects on the environment has led to robust demand for biodegradable plastic. Biodegradable plastics market value and growth scope will further be bolstered by the extensive applications in construction, manufacturing, retail sales, and more. The biodegradable plastic industry is subjected to frequent technical innovations, as the firms are gro