Enjoy complimentary customisation on priority with our Enterprise License!
The polyhydroxyalkanoate (PHA) market size is forecast to increase by USD 26.9 million, at a CAGR of 6.31% between 2023 and 2028. The growth rate of the market depends on several factors, including the increasing demand for biodegradable plastics, the increasing application of PHA in the biomedical industry, and the fluctuating crude oil prices promoting the use of PHA-based products. The market is witnessing significant growth driven by the increasing emphasis on sustainability and the adoption of eco-friendly materials across various industries. With a focus on environmentally friendly practices and circular economy principles, PHA offers a promising solution to reduce reliance on single-use products.PHA, a biodegradable polymer, is derived from natural sources like dead plants and bio-based materials such as Biomer and monomers. Its molecular structure comprises carbon chains, enabling versatility in applications across various industries.
The market share growth by the packaging segment will be significant during the forecast years. Stringent regulations against the use of conventional plastic across the globe will drive the demand for PHAs in the packaging segment. In the F&B industry, biodegradable polymers are used to produce containers for beverages, packaging material (for food), and caps. Packaging can be primarily classified as rigid and flexible. Biodegradable polymers are used to manufacture bottles, loose-fill, cups, pots, bowls, flexible films, and other products.
Get a glance at the market contribution of the End User segment Request a Free Sample
The packaging segment was the largest and was valued at USD 23.38 million in 2018. Two types of packaging are commonly used: rigid packaging and flexible packaging. Packaging products made of biodegradable polymers are used in the packaging of fresh food, dry snacks, candy, bakery goods, juice bottles, and meat trays, as well as coatings for beverage cups, films, and card stock. Furthermore, the e-commerce industry uses large quantities of foams, carrier bags, and shrink wraps, among others, as packaging materials. The thriving global e-commerce industry will drive the demand for packaging materials, including PHAs, thereby driving market growth through the packaging segment during the forecast period.
Copolymerized PHAs are categorized into block copolymerized PHAs and graft copolymerized PHAs. Graft-copolymerized PHAs are mainly used in the copolymerization of natural polymers, oligomers, and synthetic polymers. Rising demand for tissue engineering and drug delivery systems across the world will increase the consumption of copolymerized PHAs. Also, block copolymerization refers to the process of manufacturing PHAs by adding different functional polymers that modify the physical and chemical properties (of PHAs). Furthermore, increasing demand for copolymerized PHAs in major industries such as medical, agriculture, and food services will drive the growth of the copolymerized PHA segment in the polyhydroxyalkanoate market during the forecast period.
The market is rapidly expanding as a sustainable alternative to non-degradable and petroleum-based plastics, addressing environmental concerns and promoting human health and safety. PHA is a bio-material derived from biopolymers, offering biodegradability and compatibility with environmentally friendly materials. It finds extensive use in medical industries, replacing traditional plastics in applications such as plastic bags, boxes, sheets, and disposable spoons and forks used in food processing plants. The demand for PHA is driven by its ability to degrade naturally in various environments, reducing plastic waste accumulation. As industries seek sustainable solutions, PHA emerges as a viable option, contributing to the global effort to mitigate plastic pollution and support a circular economy focused on renewable resources.
Fluctuating crude oil prices promote the use of PHA-based products is the key factor driving market growth. Plastic products closely follow the price pattern of oil as crude oil derivatives are major components for manufacturing virgin plastics. As a result, due to the Russia-Ukraine war, oil and gas prices increased. The rising price of oil and gas has led to global inflation, negatively impacting the manufacturing of many products, including plastic.
Moreover, uncertainty in pricing is compelling end-user industries to switch to alternative packaging materials, such as bioplastics and papers, which is driving the global polyhydroxyalkanoate market. Consequently, a significant rise in the consumption of biodegradable packaging materials is expected, especially in Europe and the US. Hence, the fluctuating crude oil prices will drive the demand for PHAs, thereby boosting the growth of the market during the forecast period.
Increasing new product launches of PHA-based products is the primary trend shaping market growth. Many major market players are increasingly investing in R&D activities to augment the application areas of PHAs in various industries such as automotive, electronics, consumer products, and energy. Further, manufacturers such as Kaneka Corp. and BASF SE, have been heavily emphasizing new product innovations and developments to maintain competitive edges and gain shares in the market. For example, in May 2022, CJ BIO, a division of CJ CheilJedang Corp, launched PHACT, which is a marine biodegradable polymer based on its PHA technology.
Furthermore, plastic bottles are expected to be replaced by PHA water bottles, which will break down into CO2, water, and organic waste during the process of landfills. These water bottles will be useful in reducing environmental pollution through landfills. Similarly, in the electronics industry, PHA can be used in electronic casings, pressure sensors for heat sealing components, and tonners. Thus, such innovations in the product are expected to accelerate the demand for PHA products and further drive market growth and trends during the forecast period.
Lack of availability of raw materials is a challenge that affects market growth. The manufacturing of PHAs primarily depends on the availability of animal and agricultural products such as sugars, glucose, and starch. The costs of these products vary significantly, and these products are often highly priced. During the production of PHAs in large volumes, the cost of sugar can account for more than half of the total product cost. The decreasing agricultural production due to the reduction of arable land over the years is a major limitation to PHA production due to the reduced availability of raw materials.
Furthermore, inappropriate agricultural practices and deforestation have contributed to the degradation of soil quality, thereby reducing crop yield. In addition, the growing population in developing countries such as China, India, and Brazil requires more land to fulfil the need for food grains by 2030. The decrease in the arable land area is likely to affect the availability of raw materials used in PHA production during the forecast period. Hence, the lack of availability of raw materials will restrain the growth of the market during the forecast period.
APAC is estimated to contribute 48% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into market forecasting, detailing the regional market trends and analysis and drivers influencing the market's trajectory throughout the projection period.
For more insights on the market share of various regions Request Free Sample
Additionally, the market in APAC is expected to grow owing to the rising packaging industry and increasing agricultural activities across the region. The rising number of e-commerce companies will drive the demand for PHAs from the packaging industry. Also, rapid urbanization and industrialization in emerging countries are contributing to the growth of the e-commerce industry in the region. India and China are among the growing markets for e-commerce and logistics. Furthermore, in the agriculture industry, PHAs are used for manufacturing mulch films and plant pots. A mulch film protects crops and increases crop yield. PHAs are also used for making agricultural grow bags and agricultural nets. Increasing agricultural activities across the region will drive the growth of the regional polyhydroxyalkanoate market during the forecast period.
Polyhydroxyalkanoate (PHA) is a bio-polyester that is produced naturally by numerous microorganisms, including bacteria. Microorganisms produce PHAs as by-products during the fermentation of sugar. Polyvinyl chloride (PVC), a widely used synthetic polymer, has faced scrutiny due to its environmental impact and potential health risks. Disposable utensils, such as spoons and forks, traditionally made from PVC, can now be manufactured using PHA.
To Know more about the market report Request Free Sample
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including Becton Dickinson and Co., BIO ON spa, Bluepha, BOSK Bioproducts, CJ CheilJedang Corp., Danimer Scientific Inc., Genecis, Kaneka Corp., RWDC Industries Ltd., Terraverdae Bioworks Inc., TianAn Biologic Materials Co. Ltd., WinCup, and Yield10 Bioscience Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
You may also interested in below market reports:
The market is gaining traction as a sustainable alternative to non-degradable plastics and conventional polymers in packaging & food services. PHA, a biopolymer derived from bio-materials through microbial fermentation or genetic engineering, offers biodegradability and enhanced thermal and mechanical properties. It includes variants like Polyhydroxybutyrate (PHB), Poly-3-hydroxybutyrate (P3HB), and Polyhydroxyvalerate (PHV), suitable for diverse applications in the personal care sector, food manufacturing industry, and waste management practices. With consumer awareness increasing about environmental impact, PHA production technologies are advancing, utilizing biomass such as cereals, maize, wheat, and sugarcane residues. The commercialization of PHA benefits from its potential in biofuels, emulsifiers, and as a carbon capture technology, supporting both domestic e-commerce and foreign exports. As industries seek sustainable solutions, PHA emerges as a promising choice for reducing plastic waste and promoting a circular economy.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
166 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 6.31% |
|
Market Growth 2024-2028 |
USD 26.9 million |
|
Market structure |
Concentrated |
|
YoY growth 2023-2024(%) |
5.92 |
|
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 48% |
|
Key countries |
US, China, Japan, India, and Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
BASF SE, Becton Dickinson and Co., BIO ON spa, Bluepha, BOSK Bioproducts, CJ CheilJedang Corp., Danimer Scientific Inc., Genecis, Kaneka Corp., RWDC Industries Ltd., Terraverdae Bioworks Inc., TianAn Biologic Materials Co. Ltd., WinCup, and Yield10 Bioscience Inc. |
|
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
