Global Biodegradable Sacks Market Overview:
Biodegradable bags or sacks own almost the same qualities as ordinary plastic bags. Biodegradable plastic bags differ mainly through its composability. These sacks are a renewable plastic material manufactured from biomass such as corn, wheat, sugar cane, and potatoes. The increasing use of eco-friendly plastic packaging especially in food and medical industry is growing the biodegradable bags market. Although most biopolymer products are not 100% petroleum free but are biodegradable and compostable. Once the biopolymer is placed in a compost environment, they are broken into CO2 and water by microorganisms, usually within 6 months.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Harmful Effect in the Atmosphere due to Non-Recyclable Bags, Increasing awareness of the Pollution Issue Related to the usage of Bags and Regulations Related to the Disposal of Traditional Plastics
Market Growth Drivers:
Increasing use of Eco-Friendly Plastic Packaging and Growing Dependence of the Medical and Food Industry on Environmental-Friendly Plastic Packaging
Challenges:
Biodegradable Raw Material is more Costly than Conventional Plastics
Restraints:
Biodegradable Bags do not degrade under Ocean Marine Conditions
Opportunities:
Environmentally Friendly Plastic Bags can Replace Traditional Plastic Bags
Competitive Landscape:
The players are concentrating to offer high quality and biodegradable additives to gain more shares than other rivals. The players of biodegradable bags or sacks are trying to provide improved and versatile products. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined collaborations.
Some of the key players profiled in the report are Wells Plastics Ltd. (United Kingdom), Bulldog Bag Ltd. (Canada), Sarah Bio Plast (India), Sahachit Watana Plastic Industry Co. Ltd. (Thailand), Extrapack Ltd. (Bulgaria), Symphony Polymers Pvt. Ltd. (India), Dagoplast AS (Estonia), Novolex (United States), Abbey Polyethene (United Kingdom) and The Biodegradable Bag Co. (United Kingdom). Additionally, following companies can also be profiled that are part of our coverage like GreenAge EcoTech Pvt. (India), HOŞGÖR PLASTIK (Turkey) and Goodin01AT21cnDOTnet Good-in Holdings (China). Analyst at AMA Research see United Kingdom Vendors to retain maximum share of Global Biodegradable Sacks market by 2028. Considering Market by Ingredients, the sub-segment i.e. Starch will boost the Biodegradable Sacks market. Considering Market by Distribution Channels, the sub-segment i.e. Online will boost the Biodegradable Sacks market.
Latest Market Insights:
In October 2023, BioBag World, a leading manufacturer of biodegradable packaging, and Novamont, a leading producer of bio-based materials, have announced a partnership to develop next-generation biodegradable packaging solutions. The partnership will focus on developing packaging that is both compostable and marine biodegradable.
In November 2023, NatureWorks, a leading producer of biopolymers, and the Bioplastics Federation (BPF), the voice of the bioplastics industry in Europe, have announced a partnership to promote the use of sustainable plastics. The partnership will focus on educating the public about the benefits of bioplastics and advocating for policies that support their use.
European Parliament Ban On Oxo-degradable Plastics. The reduction of the impact of certain plastics on the environment., and The California Law SEC. 4. Section 42357 of the Public Resources Code is amended to read: 42357. (a) (1) A person shall not sell a plastic bag in this state that is labeled with the term “compostable” or “marine degradable,” unless, at the time of sale, the plastic bag meets the applicable ASTM standard specification (ASTM D 6400-04).
What Can be Explored with the Biodegradable Sacks Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Biodegradable Sacks Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Biodegradable Sacks
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Biodegradable Sacks market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Biodegradable Sacks market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Biodegradable Sacks, Suppliers of Biodegradable Sacks, Wholesalers, Distributers and Retailers of Biodegradable Sacks, Food Industry, Governmental Bodies and Research Firms.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.