IndustryARC updated the market research study on “Biopolymers Market” - Forecast (2024 - 2030)
The Biopolymers Market size is projected to reach?US$26.3 billion by 2027, after growing at a?CAGR of 11.1%?during the forecast period 2022-2027. The various benefits associated with the biopolymers such as polyesters,?polylactic acid, polyhydroxybutyrate, polybutylene succinate and more include biocompatibility, biodegradability, renewability and more. These benefits make biopolymers a sustainable replacement for petroleum-derived materials. The bolstering food & beverage industry, including poultry products, dried food and more is the primary factor driving the biopolymers market growth. For instance, according to the Food and Agriculture Organization (FAO), in 2020, global poultry meat production was 133.9 million tons and in 2021, it was 135.2 million tons, an increase of about 1%. However, in 2020, Covid-19 led to restrictions associated with supply chain, logistics and more, impacting production activities. This, in turn, negatively impacted the growth of the biopolymers industry. In 2021, the governmental measures to resurge the production activities fueled the growth of the biopolymers industry. Moreover, the growth of the medical and healthcare industry is fueling the demand for biopolymers. As a result, the biopolymers market size will grow throughout the forecast period.
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Report Coverage?
The?"Biopolymers Market Report – Forecast (2022-2027)”?by IndustryARC? C, covers an in-depth analysis of the following segments in the Biopolymers Market.?
By Type:?Bio-based Polyesters [Polylactic Acid (PLA), Polyhydroxybutyrate (PHB), Polybutylene Succinate (PBS), Polybutylene Succinate Adipate (PBSA), Polytrimethylene Terephthalate (PTT) and Others], Bio-based Polyolefins, Bio-based Polyamides (Bio-PA) (Homopolyamides, Bio-PA 6, Bio-PA 11, Copolyamides and Others), Polyurethanes, Polysaccharide Polymers (Cellulose-based Polymers and Starch-based Polymers) and Others.
By Molding Process:?Extrusion, Injection, Melt compounding and Others.
By Application:?Packaging (Rigid Packaging and Flexible Packaging), Fibers, Paper & Cardboard Coatings, Agricultural Seed Coatings, Automotive Interiors & Exteriors, Medical Implants, Circuit Boards, Insulators, Laminates and Others.?
By End-use Industry:?Food & Beverage (Fresh Food, Bakery, Frozen Food, Dried Food, Poultry Products, Dairy Products, Confectionery, Alcoholic Beverages, Non-alcoholic Beverages and Others), Medical & Healthcare (Pharmaceuticals, Medical Devices and Others), Agriculture, Consumer Electronics (Computers, Smartphones, Refrigerators and Others), Automotive [Passenger Vehicles (PV), Light Commercial Vehicles (LCV) and Heavy Commercial Vehicles (HCV)], Textile, Aerospace (Commercial, Military and Others), Building & Construction (Residential, Commercial, Industrial and Others) and Others?
By Geography:?North America (the USA, Canada and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America), Rest of the World [Middle East (Saudi Arabia, UAE, Israel and Rest of Middle East) and Africa (South Africa, Nigeria and Rest of Africa)]
Key Takeaways
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Biopolymers Market Segment Analysis – by Application?
The packaging segment held the largest Biopolymers Market share in 2021 and is estimated to grow at a CAGR of 11.4% during the forecast period 2022-2027. Biopolymers such as polyesters, polylactic acid, polyhydroxybutyrate and more are frequently deployed in packaging because they enhance the shelf-life of the product and also it reduces the overall carbon footprint related to food packaging. The films composed of biopolymers such as polysaccharides and protein-composed increase mechanical and optical properties. As a result, biopolymers packaging is employed across various end-use industries, including food & beverages, medical & healthcare and more. Thus, owing to the above-mentioned benefits, the adoption of biopolymers is surging in packaging applications, which is accelerating market growth.?
Biopolymers Market Segment Analysis – by End-use Industry?
The food & beverage segment held a significant Biopolymers Market share of more than 25% in 2021. The key properties of biopolymers are high strength, lightweight and heat resistance. As a result, biopolymers are frequently used in the food and beverage industry. Moreover, due to their superior quality, functionality, affordability and composability, they are an ideal replacement for single-use plastic food & beverage packaging. The surging development of food & beverage facilities, governmental initiatives and others are the crucial variables propelling the food & beverage industry's growth. For instance, according to Invest India, the food processing sector in India is one of the world’s largest, with output anticipated to reach US$535 billion by 2025-2026. Hence, the growth of the food & beverage industry is expected to fuel the demand for biopolymers. As a result, the market growth will accelerate during the upcoming years.?
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Biopolymers Market Segment Analysis – by Geography?
Europe is the dominating region as it held the largest Biopolymers Market share in 2021 up to 43.5%. The economic growth of Europe is driven by the growth of the various industries, including food and beverage, medical & healthcare and other similar industries. The food and beverages industry growth is vital for food security in the European region. For instance, according to Food Drink Europe, the food and beverage industry in Europe produced a 96.7 production index in the second quarter of 2020 and a 104.6 production index in the third quarter of 2020, an increase of 8.2 percent. Also, according to the European Union, in 2020, the production of fruits in the European Union countries was about 36.8 million metric tons and out of this, apples and pears production were the highest at 14.3 million metric tons, which was 38.9% of the total fruit production. Therefore, the booming food & beverage industry in Europe is boosting the demand for biopolymers. This, in turn, is proliferating the biopolymers market size growth.
Biopolymersnbsp;Marketnbsp;Driversnbsp;
Government Initiatives for Biopolymersnbsp;
The transformation of the current linear material system into a circular economy necessitates national and international legislation. This is due to the globalized industry's complex worldwide supply chains. Governments at the global level are taking initiatives for biopolymers. For instance, a circular economy action plan was approved by the European Commission (EC) in March 2020. The European Food Safety Authority (EFSA) is currently working on a two-year study to investigate food and feed safety vulnerabilities in a circular economy as part of this larger European strategy. The strategy also encouraged?biodegradable food?packaging research and development. Thus, the growing government initiatives for biodegradable packaging are driving the demand for biopolymers, which is aiding market growth.?
Growth ofnbsp;thenbsp;Medical Devices Industrynbsp;
In the production of medical devices such as replacement joints, heart valves, arteries, teeth, tendons, ligaments?and?eye lenses, biopolymers are used to replace or repair some diseased, damaged, or non-functional pieces of tissue or bone. Factors such as technological improvements in medical equipment and an aging population are accelerating the medical device industry's growth. For instance, according to the International Trade Administration (ITA),?Canada is the world's eighth-largest medical device market, valued at around USD$8.6 billion in 2020. Thus, the growth of the medical device industry is boosting the demand for biopolymers, which, in turn, is driving market growth.?
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Biopolymers?Market?Challenge
Higher Cost Associated Biopolymers
Biopolymers such as?polyesters,?polylactic acid,?polyhydroxybutyrate?and more have the advantage of easy disposable and regeneration. However, one disadvantage of biopolymers is that?they necessitate?the use of expensive industrial processors and composters, particularly for those that must be broken down at high industrial temperatures. For instance, according to?Plastmart, the major drawback of biopolymers is their higher price tag when compared to traditional polymers.?While the typical, conventional polymers cost between US$1000 and US$1500 per metric?tonne?(MT), biopolymers can cost anywhere from US$4000 to US$15,000 per MT for materials like polyhydroxybutyrate. Therefore, the high price associated with biopolymers may restrict the growth of the biopolymers industry in the coming years.?
Biopolymers Industry Outlook
Technology?launches,?acquisitions?and?increased?R&D activities?are key strategies?adopted by?players in?the?Biopolymers?Market.?The top?10?companies in?the Biopolymers?market?are:
Recent Developments
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