STARCH-BLENDED BIOPLASTIC MARKET ANALYSIS

Starch-blended Bioplastic MarketSize and Trends

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- 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.