In a world increasingly awakened to the perils of plastic pollution, the biodegradable plastics industry is emerging as a beacon of hope. This dynamic sector is not only witnessing significant demand but also undergoing a transformation that promises to redefine the way we approach packaging and environmental responsibility.
The biodegradable plastic market is expected to grow at a CAGR of 21.3% to reach USD 20.9 billion by 2028 from USD 7.9 billion in 2023. The market growth is driven by various factors, including the significant demand from end-use industries such as packaging, consumer goods, agriculture & horticulture, and textiles.
Biodegradable Plastics Industry Dynamics:
The biodegradable plastics industry is in the midst of a profound evolution. The driving forces behind this transformation are multifold, but one stands out prominently – a global shift towards #sustainability.
Biome Technologies plc (LON:BIOM) is a growth oriented, commercially driven technology group. The Group’s primary activity is the development of its fast growing business in bioplastics. The Group comprises two divisions: Biome Bioplastics and Stanelco RF Technologies.
