Starch-Based Bioplastic Market Size, Share, Opportunities And Trends By Starch Type (Corn, Rice, Others), By Application (Packaging, Service Ware, Others), By Industry Vertical (Food & Beverage, Transport & Logistics, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Jan 2023
- Report Code : KSI061614281
- Pages : 135
Bioplastics assist manufacturing businesses to stay competitive by helping to fulfill growing customer sustainability requirements. They are frequently generated from numerous biomass sources, the most common of which is starch, a natural polymer that may be integrated into a variety of products. Because starch-based plastics may be combined with other petroleum-based polymers or biopolymers to form novel composite materials, they can be employed in a wide range of applications. Using normal processing equipment, these composite materials may subsequently be injection molded or extruded.
Furthermore, growing environmental consciousness has increased the demand for starch-based bioplastics packaging. The shift in consumer choice from petrochemical goods to environmentally friendly alternatives is projected to have a substantial influence on starch-based bioplastics packaging. Bioplastic is made from renewable materials such as agricultural and food waste. Plastics are widely employed in numerous end-use sectors, resulting in the accumulation of landfill debris over time. Various countries are concerned about the hazards linked with materials that cannot be decomposed for decades. This will raise market demand for starch-based bioplastics packaging.
Moreover, the widespread usage of starch-based films in the packaging industry for food packaging, hygiene packaging, pharmaceutical packaging, and commodities packaging promotes market expansion. Bio-based materials used in conjunction with suitably recyclable PE and PET have resulted in a significant increase in starch-based bioplastics packaging and a reduction in carbon-dioxide emissions.
The increasing use of starch-based bioplastic for various end-user industries is anticipated to be beneficial for the market’s growth
Starch-based plastics are being used in a variety of end-use sectors, including agricultural, transportation, automotive, consumer products, and packaging. During the projected period, the fast expansion of these sectors is expected to boost demand possibilities in the worldwide starch-based plastic market. Therefore, companies have introduced a wide range of products that have also contributed to the market’s revenue. For instance, Ho Ren Hua is the CEO of Thai Wah, a Thai firm that specializes in the production of tapioca starch, vermicelli, and noodles. Ho's grandfather founded the firm in 1947, and it has since grown into an agrifood conglomerate with 15 operations across Asia. With sustainability at the heart of the company, Ho said that Thai Wah launched the very first generation of tapioca starch-based bioplastics in January 2022, addressing the demand for sustainable packaging.
Additionally, governments around the world are primarily focusing on creating environmentally friendly packaging material that can be sustainable, which also adds to the sale of starch-based bioplastic. For instance, the Mohammed Bin Rashid Innovation Fund, an initiative developed by the UAE Ministry of Finance to foster countrywide innovation, committed AED2.5 million in financing support to Avani Eco Middle East. Avani Eco Middle East is a UAE-based startup that employs technology to address the worldwide plastic waste issue. It offers biodegradable bioplastic manufactured from cassava starch, as well as a comprehensive range of renewable food packaging and hospitality items. Avani Eco uses the fund covered by MBRIF's guarantee to localize its production in the UAE and advance its research and development from its headquarters. As part of its commitment to Sustainable Development Goals, the UAE Government seeks to ensure sustainable growth while maintaining the environment and achieving a perfect balance between economic and social development, as stated by the Ministry of Finance. This and the objective laid out by Avani Eco Middle East in their mission to eliminate the plague of wasted plastics and the terrible impact this may have on the environment around us have evident synergy.
Because of the incidence of lockdowns that resulted in a jump in demand for food and beverages during the pandemic, the outbreak of COVID-19 has had a beneficial influence on the growth of the worldwide starch-based bioplastics industry. The Organization for Economic Cooperation and Development stated that sales of frozen and packaged goods climbed significantly during the COVID period, reaching their peak in the second quarter of March, weekly sales of frozen foods in France were 63% higher than in 2018-19, while sales of packaged foods in Germany were 56% higher in 2020. Other countries saw similar surges in demand. Following the initial surge, retail demand for freshly frozen, or packaged items has remained 15-20% higher than normal. Furthermore, the spike in demand for healthcare, personal care, and medicines significantly increased the demand for packaging during the pandemic.
Market Key Developments
- In July 2022, Green Dot Bioplastics, a leading developer and producer of bioplastic materials for creative, sustainable end-uses, added nine new biodegradable grades to its Terratek® BD range, which is aimed at single-use and packaging applications. The extended offering for film extraction, thermoforming, and injection molding aligns with Green Dot Bioplastics' objective of achieving quicker rates of biodegradability in ambient circumstances while addressing brand owners' and customers' expanding sustainability needs.
- In October 2021, Evanesce, a sustainable technology innovation determined to increase the use of environmentally and economically feasible packaging solutions, announced the opening of its first US production plant in Hampton County, South Carolina, today. Evanesce's best-in-class biopolymer goods provide an affordable alternative to plastics since they are made from renewable resources such as corn starch.
- In December 2019, Ms. Siddiqui's Toronto-based EcoPackers Inc., a for-profit social venture, secured $4.3 million in pre-seed and seed funding backed by Golden Ventures and billionaire Li Ka-Hong shing's Kong-based Horizons Ventures. It grew from environmentally friendly styrofoam packaging made of potato starch, package casing, and clothes hangers produced from agricultural waste from local farms.
The starch-based bioplastic market has been analyzed through the following segments:
- By Starch Type
- By Application
- Service Ware
- By Industry Vertical
- Food & Beverage
- Transport & Logistics
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Driver
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. STARCH-BASED BIOPLASTIC MARKET, BY STARCH TYPE
6. STARCH-BASED BIOPLASTIC MARKET, BY APPLICATION
6.3. Service Ware
7. STARCH-BASED BIOPLASTIC MARKET, BY INDUSTRY VERTICAL
7.2. Food & Beverage
7.3. Transport & Logistics
8. STARCH-BASED BIOPLASTIC MARKET, BY GEOGRAPHY
8.2. North America
8.3. South America
8.4.3. United Kingdom
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.3. United Arab Emirates
8.6. Asia Pacific
8.6.3. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. BASF SE
10.2. Biobag International
10.3. Biome Bioplastics limited
10.4. Cardia Bioplastics limited
10.5. Natureworks LLC
10.6. Novamont SPA
10.7. Toray Industries Inc.
10.8. AGRANA BETEILIGUNGS AG
10.9. Rodenburg Biopolymers
10.10. Kuraray Co. Ltd.
10.11. Green Dot Bioplastics
Biome Bioplastics limited
Toray Industries Inc.
AGRANA BETEILIGUNGS AG
Kuraray Co. Ltd.
Green Dot Bioplastics
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