Global market value of biodegradable plastic packaging 2019-2026
Biodegradable plastic packaging is a growing market. In 2020, the global market value of biodegradable plastic packaging amounted to nearly 2.8 billion U.S. dollars. By 2026, it is forecast to grow to nearly nine billion U.S. dollars. Biodegradable plastics are a sought-after ecologically-friendly alternative to conventional plastics because conventional plastics can take up to an estimated 1,000 years to decompose.