IMARC Group, a leading market research company, has recently releases report titled “Starch-based Bioplastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global starch-based bioplastics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the starch-based bioplastics market?
The global starch-based bioplastics market size reached US$ 1.61 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.78 Billion by 2028, exhibiting a growth rate (CAGR) of 9.12% during 2023-2028.
What are Starch-based Bioplastics?
Starch-based bioplastics, also known as starch polymers or starch blends, are a type of biodegradable and renewable bioplastic derived from starch, a carbohydrate commonly found in plants. Starch-based bioplastics offer an alternative to traditional petroleum-based plastics, aiming to reduce the environmental impact associated with conventional plastics. One of the significant advantages of starch-based bioplastics is their biodegradability. These materials can break down naturally through the action of microorganisms, enzymes, and environmental conditions, returning to the environment as organic matter. Biodegradability reduces the accumulation of plastic waste and minimizes pollution. Starch-based bioplastics can be processed using various methods, including extrusion, injection molding, blow molding, and film blowing. They can be molded into different shapes, films, sheets, and fibers, allowing for a wide range of applications across industries.
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What are the growth prospects and trends in the starch-based bioplastics industry?
The global market is majorly driven by increasing environmental awareness among the masses. Coupled with the transition towards a circular economy, which emphasizes the reduction, reuse, recycling, and recovery of materials, is driving the demand for biodegradable and compostable plastics. Moreover, governments worldwide are implementing regulations and policies to reduce the use of conventional plastics and promote sustainable materials. Many regions have banned or restricted certain single-use plastic products, creating a favorable environment for the adoption of biodegradable and compostable materials like starch-based bioplastics. Furthermore, the packaging industry is a significant consumer of starch-based bioplastics. The increasing demand for sustainable packaging solutions, driven by factors such as e-commerce, food and beverage, and consumer goods, fuels the growth of starch-based bioplastics. These materials offer biodegradable and compostable packaging options that align with industry and consumer sustainability goals.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Type:
- Starch Blended with PLA
- Starch Blended with PHA
- Others
Market Breakup by Technology:
- Injection Molding
- Blow Molding
- Extrusion
- Others
Market Breakup by Application:
- Rigid Packaging
- Flexible Packaging
- Textile
- Consumer Goods
- Agriculture
- Automotive
- Building and Construction
- Electronics
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- BASF SE
- Biome Bioplastics Limited (Biome Technologies plc)
- Corbion N.V.
- NatureWorks LLC
- Novamont S.p.A
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