Growing Demand for Eco-Friendly Alternatives Drives Starch Based Bioplastics Market Growth
SkyQuest’s Starch Based Bioplastics Market report provides actionable insights for individuals interested in valuable data, trends, and opportunities in a rapidly growing industry. Additionally, the report is produced and published concisely, making it accessible to various audiences, from industry experts to market readers. Finally, one can gain an in-depth understanding of the primary and secondary market drivers, providing them with a comprehensive outlook of the current market situation and future projections.
Westford, USA, April 26, 2023 (GLOBE NEWSWIRE) — SkyQuest projects that the starch based bioplastics market will attain a value of USD 11.12 million by 2030, with a CAGR of 15% over the forecast period (2022-2030). The global industry has been expanding steadily due to rising consumer demand for biodegradable and environment friendly packaging materials with a growing emphasis on sustainable development, and minimizing plastic waste. Numerous individuals and businesses are searching for more environment friendly substitutes for conventional plastics as environmental uncertainties about plastic pollution and its effects on the environment. Several countries are enacting laws and policies to promote compostable and biodegradable materials, such as bioplastics based on starch. The production of starch based bioplastics is becoming more straightforward and affordable due to improvements in bioplastic manufacturing techniques, which are spurring the demand factors. There is an increasing need for biodegradable packaging materials, such as starch based bioplastics, as more businesses emphasis sustainability and minimize their environmental impact.
According to the SkyQuest, the use of biodegradable and compostable materials is strongly encouraged by government rules and policies, which also help create a regulatory environment favourable to the bioplastics industry. These factors are the significant drivers of global market for starch based bioplastics. The growing concern over plastic waste and its environmental effects is a crucial driver of government legislations and policies relating to bioplastics. Numerous countries are implementing policies to lessen plastic waste and encourage biodegradable and compostable products as sustainable alternatives. One such example is the ambitious goals the European Union has set to decrease plastic waste and boost the use of sustainable materials, including a target to ensure that all plastic packaging in the EU is recyclable or reused by 2030.
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- Pages – 251
- Tables – 67
- Figures – 80
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Starch can be combined with other biodegradable polymers such as cellulose, polyhydroxyalkanoates and polylactic acid to create starch based bioplastics. Starch based bioplastics can be blended to increase their mechanical qualities and expand their variety of uses. The rising demand for biodegradable polymers with improved mechanical qualities would also cause the blend segment to grow significantly. It is also anticipated that the use of starch based bioplastics as coatings will rise due to the rising demand for eco-friendly packaging options.
Prominent Players in Starch Based Bioplastics Market
- Total Corbion PLA
- Biome Technologies
- BASF SE
- DuPont de Nemours, Inc.
- Mitsubishi Chemical Corporation
- Danimer Scientific
- Plantic Technologies
- Toray Industries, Inc.
- Kingfa Sci. & Tech. Co., Ltd.
- PTT Global Chemical Public Company Limited
- Synbra Technology BV
- Tianan Biologic Materials Co., Ltd.
- KANEKA CORPORATION
- Teijin Limited
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Packaging Segment in the Starch Based Bioplastics Market Is Poised For Substantial Growth, Driven by Increasing Demand for Sustainable Packaging Solutions
The market for starch based bioplastics is now dominated by the packaging segment. This is because businesses including those in the food and beverage, cosmetics and pharmaceutical industries, are looking for environmentally friendly packaging options. As a result, bags, films, containers, and other packaging items are made using bioplastics derived from starch.
North America is anticipated to experience a significant growth in the forecast period. The market in is primarily driven by the region’s established presence of important end-user industries. In addition, the demand for sustainable packaging has increased as a result of the regional market’s strong desire for sustainability. During the forecast period, the U.S. held a sizeable portion of the North American market for starch based plastics. The U.S. Department of Agriculture attempts to promote environment friendly products are also anticipated to increase the demand for bioplastics in North America.
Agriculture Segment is Expected to Experience Significant Growth Fueled by Rising Awareness About the Harmful Impact of Traditional Plastic on the Environment
The agriculture segment is anticipated to expand significantly in the upcoming years. Bioplastics made of starch are employed in agriculture as mulch films, plant pots, and other items. The restriction on conventional plastic mulch films in various nations is anticipated to enhance the need for biodegradable mulch films.
The market for starch based bioplastics is expanding at the fastest rate in the Asia-Pacific region for several reasons. The need for starch based bioplastics is being fueled by the fact that the Asia-Pacific area is home to several significant industries, such as packaging, consumer goods and automotive. The region’s major end-user of starch based bioplastics is the packaging industry, spurred by rising demand for eco-friendly packaging options. In recent years, the Asia-Pacific area has witnessed a rise in environmental awareness, prompting a move towards sustainable materials. Starch based bioplastics are in high demand because they are viewed as a more environment friendly alternative to conventional plastics.
A comprehensive analysis of the major players in the Starch Based Bioplastics market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Starch Based Bioplastics Market
- In August 2021, Novamont introduced a new grade of its Mater-Bi bioplastic for use in creating flexible packaging. The new grade, SBF60 is ideal for use in various packaging applications and is stated to have outstanding mechanical and barrier capabilities.
- In July 2021, NatureWorks announced plans to construct a new production plant in Thailand to address the rising demand for its Ingeo bioplastics in the Asia-Pacific area. The new facility is slated to begin production in 2024 and will have a 75,000 metric tonnes annual production capacity.
Key Questions Answered in Starch Based Bioplastics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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