Packaging And Food Services Sector Occupies Over 65% Of The Market For The Need Of Eco-Friendly Products
The global biopolymer market accounted for USD 3.2 billion in 2015 and expected to reach USD 9.8 billion by the end of forecast period i.e. 2024. Further, the market is anticipated to expand at a compound annual growth rate of 11.2% over the forecast period i.e. 2016-2024.
More than 80% of polymers used globally are derivatives or by-products of the petroleum industry. To overcome negative impacts of conventional polymers, biopolymers were introduced which are bio-degradable in nature. Biopolymers are derived naturally from plant proteins and starch which can be easily decomposed in the environment. Biomass basically consists of non-food crops like sugar beet, potatoes, and wheat to produce polylactic acid (PLA). Volatility in the prices of crude oil and limited availability of fossil fuel resources boosts the growth of biopolymer market. Vast application of biopolymer in the medical industry for controlled drug release and wound management will help the business players to increase the penetration of products in the healthcare sector.
According to Goldstein Research, global biopolymer market is segmented on the basis of product, application and by end-user. Regionally, Europe is the major consumer of biopolymer products in global market. Effective laws and regulation in Western Europe contributed to the dominance of Europe in the global market throughout the forecast period. Asia-Pacific region anticipated to witness robust growth due to rapid industrialization and growing global pressure on developing regions to curb the pollution.
Biopolymer Market Analysis Report, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, the competitive analysis includes the in-depth analysis of the major players and leaders in the healthcare industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler and others. Our primary research team conducted various interviews, surveys and group discussions of industry biopolymer manufacturers, suppliers, and distributors, pharmaceutical & biotechnology companies, healthcare institutions, clinical centers, medical research laboratories and academic medical centers and universities to analyze the future prospects of the overall healthcare industry.
Global Biopolymer Market Segmentation can be classified on the basis of:
By Product Type
- Bio-PET (PolyEthylene Terephthalate)
- Bio-PE (PolyEthylene)
- Polylactic acid (PLA)
- Biodegradable polyesters
- Others (biodegradable starch blends etc.)
By Application Type
- Packaging
- Fibers
- Cosmetics
- Agriculture seed coatings
- Automotive interior parts
- Others (medical implants)
By End-User Type
- Food and Beverages
- Automotive Industry
- Healthcare
- Agriculture
- Chemicals industry
- Semiconductor & Electronics
By Geography
- North America (US, Canada)BiopolymerMarket {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) Biopolymer Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) Biopolymer Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Latin America (Brazil, Mexico and Rest of Latin America)Biopolymer Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
- Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) Biopolymer Market {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
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Market Trends, Drivers & Challenges
The ongoing trend of legal frameworks for the success of bioplastic industry in Europe like Europe 2020, Horizon 2020, Bioeconomy Strategy is driving the biopolymer market across the nation.Rising awareness among the population in developed countries towards the harmful effects of packaging materials of food items and increasing demand for eco-friendly packaging materials propel the growth of global biopolymers market. Stringent government regulations for the use of conventional plastics and packaging materials also boost the biopolymers market. Huge research & development investment requirement for the development of biopolymers is one of the major challenges for the new entrants. Weak mechanical properties as per the requirement of plastic industry throttle the growth of global biopolymer market.
Biopolymer Industry Report has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes Porter's five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global biopolymer market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.
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