USD 4.03 billion
Report ID:
SQMIG15A2120 |
Region:
Global |
Published Date: February, 2024
Pages:
251
|Tables:
67
|Figures:
75
Global Starch Based Bioplastics Market size was valued at USD 4.03 billion in 2019 and is poised to grow from USD 7.67 billion in 2023 to USD 23.8 billion by 2031, growing at a CAGR of 14.1% in the forecast period (2024-2031).
The global starch-based bioplastics market was experiencing steady growth due to increasing demand for biodegradable and eco-friendly packaging materials, as well as a growing focus on sustainable development and reducing plastic waste. With increasing concerns about plastic pollution and its impact on the environment, many consumers and companies are looking for more sustainable alternatives to traditional plastics. Many countries are introducing regulations and policies to encourage the use of biodegradable and compostable materials, including starch-based bioplastics. Advances in bioplastic manufacturing technologies are making it easier and more cost-effective to produce starch-based bioplastics, which is helping to drive demand. As more companies focus on sustainability and reducing their environmental footprint, there is a growing demand for biodegradable packaging materials, including starch-based bioplastics. However, there are also some challenges facing the starch-based bioplastics market. For example, these materialscan be more expensive to produce than traditional plastics, which can make them less competitive in some markets. Additionally, there are still some technical challenges related to the durability and performance of starch-based bioplastics, which may limit their applicability in certain industries.
US Starch Based Bioplastics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 4.03 billion
Largest Segment
Thermoplastic starch
Fastest Growth
Thermoplastic starch
Growth Rate
14.1% CAGR
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Global Starch Based Bioplastics Market is segmented on the basis of technology, application and region. By technology, the Starch Based Bioplastics Market is segmented into thermoplastic starch, blends, coatings, nanocomposites, and others. By application, Starch Based Bioplastics Market is segmented into packaging, agriculture, textiles, medical, and others. By region, the Starch Based Bioplastics Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Starch Based Bioplastics Market Analysis by Technology
Thermoplastic starch (TPS) is a widely used technology for the production of starch-based bioplastics. It involves the modification of starch to improve its thermoplastic properties, making it suitable for processing on conventional plastics processing equipment. TPS is used in various applications such as packaging, agriculture, and textiles. The thermoplastic starch (TPS) segment is one of the most widely used technologies for the production of starch-based bioplastics, and it is expected to continue to dominate the market in the coming years.
Starch-based bioplastics can also be produced by blending starch with other biodegradable polymers such as polylactic acid (PLA), polyhydroxyalkanoates (PHA), and cellulose. Blending improves the mechanical properties of starch-based bioplastics and enables them to be used in a wider range of applications. The blend segment is also expected to grow at a significant rate due to the increasing demand for biodegradable polymers with improved mechanical properties. The use of starch-based bioplastics as coatings is also expected to increase due to the growing demand for sustainable packaging solutions.
Starch Based Bioplastics Market Analysis by Application
The packaging segment is currently the largest segment of the global starch-based bioplastics market. This is due to the increasing demand for sustainable packaging solutions in various industries such as food and beverage, cosmetics, and pharmaceuticals. Starch-based bioplastics are used in the production of bags, films, containers, and other packaging products.
The agriculture segment is also expected to grow at a significant rate in the coming years. Starch-based bioplastics are used in agriculture as mulch films, plant pots, and other products. The demand for biodegradable mulch films is expected to increase due to the ban on traditional plastic mulch films in some countries.
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Europe is the largest market for starch-based bioplastics, accounting for over 40% of the total market share. Europe has a well-established regulatory framework promoting the use of sustainable materials, including bioplastics. The European Union has set ambitious targets for reducing plastic waste and increasing the use of bioplastics, which is driving demand for starch-based bioplastics. Starch-based bioplastics are increasingly being used in various industries, including packaging, consumer goods, agriculture, and automotive. The packaging industry is Europe's largest end-user of starch-based bioplastics, driven by increasing demand for sustainable packaging solutions. Europe has a well-developed infrastructure for waste management and recycling, which supports the growth of the starch-based bioplastics market. The region has established collection and recycling systems for bioplastics, which helps to reduce waste and promote the circular economy. Europe is home to several key players in the starch-based bioplastics market, including Novamont, BASF SE, and Corbion NV. These companies are investing in research and development to improve the performance and reduce the cost of starch-based bioplastics, which is expected to drive further growth in the market.
The Asia-Pacific region is the fastest-growing market for starch-based bioplastics, driven by several factors. The Asia-Pacific region is home to several major industries, including packaging, consumer goods, and automotive, which is driving demand for starch-based bioplastics. The packaging industry is the largest end-user of starch-based bioplastics in the region, driven by increasing demand for sustainable packaging solutions. The Asia-Pacific region has seen a growing awareness of environmental issues in recent years, leading to a shift towards sustainable materials. This is driving demand for starch-based bioplastics, which are seen as a more sustainable alternative to traditional plastics. Many countries in the Asia-Pacific region have implemented policies and regulations to promote the use of bioplastics. For example, in Japan, the government has set targets for the use of bioplastics in packaging and products, which is driving demand for starch-based bioplastics. The Asia-Pacific region is home to several key players in the starch-based bioplastics market, including Mitsubishi Chemical and Bio-On. These companies are investing in research and development to improve the performance and reduce the cost of starch-based bioplastics, which is expected to drive further growth in the market.
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Starch Based Bioplastics Market Drivers
Government regulations and policies
Increasing consumer awareness
Starch Based Bioplastics Market Restraints
High production costs
Limited availability of raw materials
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Global Starch Based Bioplastics Market is highly fragmented, with many small and large players operating in the market. The market is dominated by a few major players who account for a significant share of the market. These companies are investing heavily in research and development to develop new and innovative bioplastic materials that offer superior performance and environmental benefits compared to traditional plastics. They are also expanding their production capacities to meet the growing demand for bioplastics from various industries, including packaging, consumer goods, automotive, and agriculture. In addition to these major players, there are many other companies that operate in the starch-based bioplastics market, including smaller and regional players that specialize in specific types of bioplastics or serve niche markets. These companies are also investing in research and development to develop new materials and expand their market presence.
Starch Based Bioplastics Market Top Player’s Company Profiles
Starch Based Bioplastics Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Starch Based Bioplastics Market analysis, the global market has been growing steadily in recent years due to the increasing demand for sustainable and biodegradable alternatives to traditional plastics. The market is expected to continue to grow in the coming years, driven by factors such as government regulations, consumer demand, and technological advancements. The Europe region is expected to dominate the global market in the coming years due to the high demand for sustainable products. The thermoplastic starch segment is expected to continue to dominate the global market by technology due to its low cost and ease of processing. The blends, coatings, and nanocomposite segments are also expected to grow at a significant rate due to the increasing demand for bioplastics with improved mechanical and barrier properties. The packaging segment is currently the largest segment of the global market, driven by the increasing demand for sustainable packaging solutions in various industries. The agriculture and medical segments are also expected to grow at a significant rate due to the increasing demand for biodegradable materials in these industries.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 4.03 billion |
Market size value in 2031 | USD 23.8 billion |
Growth Rate | 14.1% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Starch Based Bioplastics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Starch Based Bioplastics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Starch Based Bioplastics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Starch Based Bioplastics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
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Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Starch Based Bioplastics Market size was valued at USD 4.03 billion in 2019 and is poised to grow from USD 7.67 billion in 2023 to USD 23.8 billion by 2031, growing at a CAGR of 14.1% in the forecast period (2024-2031).
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Report ID: SQMIG15A2120
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