INDIA SUSTAINABLE BIOPOLYMERS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

India Sustainable Biopolymers Market Size and Trends

The India Sustainable Biopolymers Market is estimated to be valued at USD 348.1 Mn in 2024 and is expected to reach USD 745.8 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.5% from 2024 to 2031.

To learn more about this report, Request sample copy

The growth of the sustainable biopolymers market in India is driven by rising environmental concerns and stringent regulations regarding the use of plastics.

Growth in end-use industries like packaging, textile and agriculture

The India sustainable biopolymers market in India is expected to witness significant growth over the next decade due to expanding end-use industries where biopolymers can be effectively utilized. The packaging industry in India has been growing at a brisk pace over the years to cater to the burgeoning e-commerce sector as well as increasing demand from food and beverages, pharmaceuticals, and other consumer goods. With growing environmental concerns, packaging manufacturers are under pressure to reduce usage of plastics and adopt sustainable and eco-friendly materials. Biopolymers like polylactic acid (PLA) offer an excellent solution as they are derived from renewable plant sources such as corn, sugarcane, or cassava and are also biodegradable. Major companies involved in food packaging as well as e-commerce have started evaluating use of biopolymer films, molded containers and other packaging applications.

The textile industry in India is one of the largest in the world and is continuously modernizing to meet evolving consumer preferences. With increase in disposable incomes, demand for new fabrics continues to rise. The industry has been actively exploring the use of biodegradable fibers produced from biopolymers. PLA and other fiber grade biopolymers can help textile manufacturers enhance sustainability of their products and also cater to customers looking for apparel and fabrics manufactured using natural resources. The agricultural sector is also a major growth area where biodegradable mulch films, controlled release fertilizers, and other applications derived from biopolymers can help optimize crop yield while reducing environmental footprint. Overall rapid growth of industries which can adopt biopolymers for their diverse application needs is driving significant demand for sustainable biopolymers in India.

To learn more about this report, Request sample copy

Government support and regulations

The government of India has been proactively supporting development as well as usage of bioplastics and other biopolymers through various initiatives and regulatory mandates. In the recent budget announcements, special incentives have been proposed for companies investing in the commercial production of biodegradable polymers/fibers. Separate package for promoting research & development of new generation bioplastics has also been envisaged. While single-use plastics have been banned in many states, favorable policies are being introduced for bioplastics to provide an attractive alternative. For example, some states exempt bioplastics from the ban on plastics. Certification systems compliant with national and international standards are being established to differentiate between truly sustainable bioplastics and conventional plastics.

Currently bioplastics fall under different categories for taxation based on raw materials used. However, proposals are being evaluated to bring uniformity and also potentially lower the tax incidence on sustainable biopolymers produced locally. This would help Indian manufactures compete effectively in the global marketplace. Stringency of regulations on conventional plastics is also being raised incrementally through measures like prohibition on thin plastic bags and certain other petroleum-based plastics. Such moves are expected to make Indian market more conducive for large scale adoption of bioplastics. Overall, the proactive steps taken by the government signals a positive long-term outlook for growth of sustainable and innovative biopolymers industry in India.