The global starch-blended bioplastic market is projected to surpass US$ 417.3 Mn by the end of 2030 in terms of revenue, exhibiting a CAGR of 4.8% during the forecast period (2023 to 2030). Moreover, owing to its less toxicity, biocompatibility, heat tolerance, and mechanical capabilities, starch-blended bioplastic is used in different end-use industries including consumer goods, textile, healthcare, agriculture, and others. Furthermore, starch-blended bioplastic is used in the production of plates, cups, cutlery, and others. Thus, starch-blended bioplastic market is expected to experience significant market growth throughout the forecast period.
Global Starch-blended Bioplastic Market- Drivers
Dangerous effects of ordinary plastics on the nature
Plastics are used in commercial, residential, and industrial applications, as it offers several properties such as high durability, corrosion resistivity, and others. Moreover, plastic materials are cost-effective than metal products. Nevertheless, ordinary plastic are not decomposable in nature, owing to the presence of chemical components in it. Moreover, the traditional plastic remains in environment as litters, if it is not recollected. This causes a harmful impact on the human health, living organisms, and environment. Furthermore, growing awareness about plastic pollution is one of the major factors which driving the global starch-blended bioplastic market growth over the forecast period. Bioplastic is decomposed by the microbes and gets converted into biomass, carbon dioxide, and water.
Boosting demand for alternative ordinary plastic packaging solution
The corn starch-blended bioplastic is an eco-friendly substitute for traditional plastic across the packaging industry. Moreover, corn starch-blended bioplastic is recyclable, compostable, and biodegradable. Furthermore, rapid economic growth, rising use of medical applications, and increasing disposable income are another factors to accelerate the global starch-blended bioplastic market over the forecast period.
Figure 1. Global Starch-blended Bioplastic Market, Revenue Share (%), By Region, 2022
Among regions, Asia pacific is accounted for the highest market share in the global starch-blended bioplastic market. Growing population, expanding disposable income, and availability of raw materials required for the production of bioplastic is the key factors to bolster the global growth of market in this region. Moreover, rising preference for an environment-friendly substitute for ordinary plastic, in developing economies such as India and China, is likely to spur the demand for starch-blended bioplastic.
Moreover, Europe is expected to witness significant growth throughout the forecast period. Increasing environmental concerns in the consumers, presence of stringent laws and regulations regarding ordinary plastics, expanding research and development activities in biodegradable plastics are expected to drive the global starch-blended bioplastic market growth during the forecast period.
Global Starch-blended Bioplastic Market- Restraints
Cost of starch-blended bioplastic
The cost of starch-blended bioplastic films is higher than other polymers. Moreover, the raw material required in the manufacturing process of starch-blended bioplastic are wheat, corn, rice, pea, potato, and tapioca. These raw materials are also used in other industries such as food and beverages. Thus, availability and volatility in prices of raw materials is likely to hamper the global market growth. Nevertheless, the eco-friendly nature of starch-blended bioplastic is projected to accelerate the product demand during the forecast period.
|Base Year:||2022||Market Size in 2022:||US$ 286.8 Mn|
|Historical Data for:||2017 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||4.8%||2030 Value Projection:||US$ 417.3 Mn|
BASF SE, Biome Bioplastics, Cardia Bioplastic, Braskem, Corbion Purac, Novamont S.p.A, NatureWorks LLC, Innovia Films., TORAY INDUSTRIES, INC., and BioBag International AS
|Restraints & Challenges:||
Global Starch-blended Bioplastic Market- Opportunities
Growing use of starch-blended bioplastic across the food & beverages industry and soaring demand for sustainable plastic product are expected to create ample opportunities for the market players throughout the forecast period. Moreover, research and development activities in order to reduce or replace unsustainable plastic is expected to provide lucrative opportunities for global starch-blended bioplastic market players.
Global Starch-blended Bioplastic Market- Trends
The fluctuating prices of international oil is expected to force the market players to research new alternative raw materials for plastic packaging industry. Moreover, increasing awareness about the eco-friendly and more sustainable plastic product is the major key trends across the global starch-blended bioplastic market.
Figure 2 . Global Starch-blended Bioplastic Market, Revenue Share (%), By Application, in 2022
By application, global starch-blended bioplastic market is categorized into packaging & bags, textile, agriculture, consumer goods, and others. The packaging & bags segment held the highest market share in 2022. Disposal problems related to ordinary plastics in sea and landfills and rising awareness regarding sustainable packaging are projected to drive the demand for starch-blended bioplastic. Moreover, this bioplastic is widely used in cosmetics packaging, commodities packaging, food packaging, pharmaceutical packaging, and others. Furthermore, bioplastic flexible films are used to improve adhesive and print properties.
On the basis of type, the market is segmented into starch-blended with PLA, starch-blended with PHA, and others. Among these, starch-blended with PLA segment accounted for the largest market share in 2022 and is expected to experience significant growth throughout the forecast period. The starch-blended with PLA bioplastic is used in different applications including food packaging, automotive industries, chemical industries, medical applications, and others. Moreover, several benefits of PLA in packaging sectors include gloss, printability, transparency, and compostable products.
Global Starch-blended Bioplastic Market - Impact of Coronavirus (Covid-19) Pandemic:
The outbreak of COVID-19 pandemic disrupted the supply chain of the raw materials, which are required in manufacturing of starch-blended bioplastic. Moreover, the installations of manufacturing facilities were affected due to social distancing and strict lockdowns across the globe. There was decrease in demand for starch-blended bioplastic throughout globe. Furthermore, starch-blended bioplastic market players are operating at low capacity, which had a bad impact on the global market growth. Nevertheless, expanding research and development activities is projected to witness significant demand for starch-blended bioplastic during the forecast period.
Major players operating in the global Starch-blended Bioplastic market include, BASF SE, Biome Bioplastic, Cardia Bioplastic, Braskem, Corbion Purac, Novamont S.p.A, NatureWorks LLC, Innovia Films., TORAY INDUSTRIES, INC., and BioBag International AS.
Few Recent Developments
In September 2021, Biome Bioplastics, announced that it has become a member of the SPC (Sustainable Packaging Coalition). This will bring stakeholders together for actionable improvements in the packaging systems and will enhance packaging solutions that are good for the planet and people. Moreover, Biome Bioplastics is one of the leading developers of natural plastics which headquartered at U.K., Eruope. By accepting the membership of SPC, Biome Bioplastics aims to achieve net zero carbon foot-print economy.
Definition- Starch is referred as a natural polymer, which is widely used in the packaging industry. It offers number of properties such as high tensile strength, impermeable, package integrity, and others.
Starch-blended bioplastic are produced from natural resources such as corn, maize, sugarcane, potato starch, among others. It is an eco-friendly substitute for ordinary plastics. Moreover, the properties of starch-blended bioplastic are similar to the LDPE (low-density polyethylene). Thus, this bioplastic is used in manufacturing of recycling bags. Furthermore, Starch-blended bioplastic are biodegradable and compostable in the nature. Owing to these properties, bioplastic are used in environmental and biomedical sectors.
Soaring demand for starch blended bioplastic
Starch-blended bioplastic offers different properties such as heat preservation and water resistance. Moreover, starch based bioplastic helps in decreasing bad impact of plastic in the nature. These bioplastic are used in food packaging industry, as it offers longer lifespan to the food products. Furthermore, packaging industries are focusing on the solutions regarding waste-disposal issues, which is boosting the demand for starch- blended bioplastic.
Preference for eco-friendly plastic products among the consumers
Growing awareness regarding the use of environment-friendly bioplastic instead of ordinary plastic, is projected to create ample opportunity throughout the global starch-blended bioplastic market. For instance, on May 15, 2019, the according to the CIEL (Center for International Environmental Law) report, the incineration and production of plastic will create more than 850 million metric tons of harmful greenhouse gases in the atmosphere. Thus, increasing concerns about sustainable plastic products is expected to drive the global starch-blended bioplastic market.
Lack of availability of the raw material
The raw materials required for the production of starch-blended bioplastic are wheat, tapioca, sugarcane, corn, and others. These raw materials are widely used in different applications such as food & beverages, healthcare, pharmaceuticals, and others. Furthermore, the production prices of starch is likely to hamper the global starch-blended bioplastic market growth.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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