Global Biodegradable Plastics Market is projected to experience a compound annual growth rate (CAGR) of 8.72% between 2021 and 2027. As consumers seek environmentally-friendly options, biodegradable plastics are emerging as a popular substitute for traditional materials. Unlike conventional plastics, which remain stable for hundreds of years and were initially valued for this property, biodegradable plastics can be decomposed by microorganisms, broken down into biomass, water, and carbon dioxide. The global biodegradable plastic market is currently in its introductory phase, but it is anticipated to discover new growth prospects in the years ahead. The market’s demand is being driven by various factors, such as governmental initiatives to eliminate single-use plastic and a strict regulatory approach towards conventional plastic products. It is anticipated that the worldwide market for biodegradable plastics industry will achieve a value of USD 7.15 Billion by 2027. In recent years, prominent plastic companies have shown a growing interest in offering a more environmentally-friendly alternative to businesses and consumers. This trend is evident in various sectors, including energy, agriculture, and fuels. However, bioplastics stand apart from these sectors as the industry does not depend on government subsidies. Instead, the onus is on manufacturers to develop cost-effective solutions and enhance their presence in the plastics market. There is a trend towards biobased products as a means of reducing reliance on traditional plastics, and a growing number of manufacturers in industries such as packaging, textiles, and agriculture are switching to biobased plastic to comply with governmental regulations. These factors are significantly influencing the growth of the biodegradable plastic market. According to Renub Research, research report “Biodegradable Plastics Market Size, Global Forecast 2021-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis” Biodegradable Plastics Market for 2021 was USD 4.1 Billion.