The global biodegradable materials market is experiencing rapid growth due to the escalating environmental concerns and stringent government regulations against conventional plastics. According to a report by MarketsandMarkets, the market is projected to reach around $6.7 billion by 2026, at a CAGR of 13.4% from 2021. Biodegradable materials' potential in reducing waste and their increasing applications in sectors like packaging and agriculture are propelling the market. Despite challenges like high costs and limited availability, advancements in research and development for new applications, particularly in the medical field for drug delivery and implants, present promising market opportunities.
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