PLASTIC EATING BACTERIA MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Plastic Eating Bacteria Market Size and Trends

The plastic eating bacteria market is projected to exhibit substantial growth, increasing from US$ 263.3 Thousands in 2024 to an estimated US$ 575 Thousands by 2031. This growth is anticipated to be driven by a notable CAGR of 11.8% during the period of 2024–2031.

Plastic Eating Bacteria Market- Trends:

• Growing interest in circular plastic economy: The growing interest in circular plastic economy around the world is positively influencing the plastic eating bacteria market. With more and more countries and companies focusing on reducing plastic waste and promoting sustainability, there is a rise in demand for effective plastic decomposition solutions. Plastic eating bacteria, with their ability to break down polymers into their building blocks, offer viable technology to address the global plastic pollution problem. Research into plastic-degrading bacteria is receiving increased funding from governments and inter-governmental agencies. For example, the U.K. government granted US$1270,305 million in 2021 to scientists at University of Portsmouth to study mutant bacteria found in plastic recycling plants that can digest PET plastic bottles. Similarly, the European Commission approved financing of US$ 1,81,05million in 2020 for 12 European projects studying enzymes and microbes for plastic recycling. Several startups are also attracting venture capital to further research and commercialize bacterial-based plastic decomposition systems.
• Increasing application scope beyond waste recycling: The plastic eating bacteria market is witnessing significant shifts as companies are exploring applications beyond waste recycling. Traditionally, these bacteria were mainly researched for their potential to break down plastic waste and reduce pollution in oceans and landfills. However, with advancements in genetic engineering techniques, players are now developing strains that can consume different types of plastics and synthesize various value-added products from them. For instance, researchers from Imperial College London have created a strain of Pseudomonas bacteria that can break down PET plastic into its building blocks of terephthalic acid and ethylene glycol. Similarly, U.S.-based, Carbon Technologies is working on the bacterial degradation of plastic films into biosynthetic natural rubber. As commercial applications emerge, producers of plastic waste also see value in partnering with bacterial remediation firms to close the loop of plastic recycling. For example, the Coca-Cola Company is an American multinational corporation founded in 1892. It produces Coca-Cola. The drink industry company also manufactures, sells, and markets other non-alcoholic beverage concentrates and syrups, and alcoholic beverages.  Coca-Cola has collaborated with geoentic startup, Anthropic to test PET plastic biofilm degradation in its waste streams.