STARCH-BLENDED BIOPLASTIC MARKET ANALYSIS

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

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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.

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

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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.

Competitive Section

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.