Biodegradable plastics are the type of plastics that undergo decomposition over a period of time under composting conditions. The global biodegradable plastics market accounts for less than 1% of the overall plastics market, however, it is expected to grow at a fast pace over the next 5 years. The market growth is driven by continuous R&D activities, increased environmental awareness, and implementation of stringent environmental regulations. However, the high cost of biodegradable plastics has been a major barrier in the growth of the market.
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