Enjoy complimentary customisation on priority with our Enterprise License!
The polyhydroxyalkanoate market size is forecast to increase by USD 26.9 million at a CAGR of 6.31% between 2023 and 2028.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The packaging segment is estimated to witness significant growth during the forecast period. In the global market, the demand for polyhydroxyalkanoate (PHA) is increasing due to regulatory pressures against conventional plastics, particularly in the packaging industry. PHAs are biodegradable polymers that are gaining popularity in the food and beverage (F&B) sector for producing containers and packaging materials. The packaging industry can be segmented into rigid and flexible packaging. Rigid packaging includes bottles, loose-fill, cups, pots, and bowls, while flexible packaging includes films and other products. Biodegradable polymers are used extensively in the F&B industry for packaging fresh food, dry snacks, candy, bakery goods, juice bottles, and meat trays. Additionally, they are used in coatings for beverage cups, films, and card stock.
Get a glance at the share of various segments. Request Free Sample
The packaging segment was valued at USD 23.38 million in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions, Request Free Sample
The market in Asia Pacific is poised for substantial expansion over the forecast period. The burgeoning packaging industry and the rise in agricultural activities in this region are key factors fueling the growth of the PHA market. In the packaging sector, the increasing number of e-commerce companies is a significant driver, as these companies seek sustainable alternatives for their packaging needs. Notable e-commerce firms in Asia Pacific are adopting PHA-based plastics due to their biodegradable nature and high-impact strength. PHAs are produced through microbial fermentation and, in recent years, genetic engineering techniques have been employed to enhance the production process. As environmental concerns gain prominence, the demand for eco-friendly biopolymers like PHAs is expected to increase, particularly in industries such as medical, where biocompatibility and biodegradability are crucial. The PHA production technologies continue to evolve, offering opportunities for market expansion.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for biodegradable plastics is the key driver of the market.
Increasing adoption of sustainable production methods by manufacturers is the upcoming trend in the market.
Cost-effectiveness of conventional plastics over PHAs is a key challenge affecting the market growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
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.
Polyhydroxyalkanoate (PHA) is a type of biopolymer, produced by microbial fermentation using raw materials like cereals, sugars, and organic waste. It is a promising alternative to non-degradable petroleum-based plastics, offering environmental benefits as it is biodegradable. PHA finds applications in various sectors, including packaging & food services, biomedical, and agriculture. In packaging, PHA is used to manufacture plastic bags, films, boxes, and sheets. In the biomedical industry, it is used to produce medical devices, implants, and pharmaceuticals to address genetic disorders such as ulcers, deafness, and vision impairment. PHA is also used in agriculture as a biofertilizer and in waste management practices to convert biomass, dead plants, and waste residues into valuable products.
Moreover, the production of PHA involves the polymerization process of monomers like PHB and PHV, which have different melting points and properties. PHA is also used in the production of biofuels and emulsifiers, and its commercialization is driven by consumer awareness and environmental concerns. PHA production technologies include microbial fermentation and genetic engineering, and the market is expected to grow due to the increasing demand for eco-friendly materials in various industries.
|
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 |
|
Key countries |
US, China, Japan, India, and Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
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.
