Starch-based Bioplastics Market Expected to Reach $3.6 Billion by 2030

According to a new report published by Allied Market Research titled, “Starch-based Bioplastics Market by Type, Technology, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global starch-based bioplastics market was valued at $1.4 billion in 2020, and is projected to reach $3.6 billion by 2030, growing at a CAGR of 10.1% from 2020 to 2030.

Starch is an attractive biopolymer due to its abundance, low cost, and potential application in the production of biodegradable films in the form of thermoplastic starch (TPS). However, the availability of the thermoplastic starch-based (TPS) film is limited due to its hydrophilic nature, which has resulted in the changes of its mechanical properties when exposed to high relative humidity. Environmental issues associated with disposal of nonbiodegradable materials have led to the development of biodegradable materials that exhibit maximum usage in packaging applications on a wide commercial scale.

High demand for starch-based bioplastics is attributed to their water permeability and heat preservation properties, which make them ideal for use in agriculture, as they reduce soil contamination and improve sustainability, which, in turn, increases the use of renewable raw materials derived from agro-industrial waste. However, the main issue with using nonbiodegradable plastic films is that they pollute soil when buried in landfills. In addition, removing and disposing of these plastic leftovers from the field before or after harvest is an expensive and time-consuming procedure. Increase in disposable income; rapid growth in the global economy; and rise in usage in medical applications such as in controlled drug release, space filling implants, and wound treatments contribute toward the market growth. Furthermore, robust growth of the medical field owing to technological advancements is expected to foster the market growth.

The global starch-based bioplastics market is segmented into type, technology, application, and region. Depending on type, the market is categorized into starch blended with polylactic acid (PLA), starch blended with polyhydroxyalkanoates (PHA), and others (starch-based polyvinyl alcohol (PVOH) blends and polybutylene succinate (PBS)). Depending on technology, it is fragmented into injection molding, blow molding, extrusion, and others (thermoforming and foaming). As per application, it is classified into rigid packaging, flexible packaging, textile, consumer goods, agriculture, automotive, building & construction, electronics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global starch-based bioplastics market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include BASF SE, Biobag International, Biome Bioplastics Limited, Cardia Bioplastics Ltd., Corbion N.V, Innovia Films Limited, Natureworks LLC, Novamont SPA, Toray Industries Inc. Inc., and Yield10 Bioscience, Inc.

The global starch-based bioplastics market is analyzed in accordance with the impacts of drivers, restraints, and opportunities. The period studied in this report is 2020–2030. The report includes the study of the market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth. 

Key Findings Of The Study

• On the basis of type, the starch blended with PLA segment emerged as the global leader with around 46.6% of the global market share in 2020, and is anticipated to be the largest markets during the forecast period.
• Depending on technology, the injection molding segment registered the highest market share of around 56.7%, and is projected to maintain the same during the forecast period.
• As per application, the rigid packaging segment registered the highest market share of around 45.6%, and is projected to maintain the same during the forecast period.
• Region wise, Asia-Pacific registered the highest market share of around 51.2%, and is projected to maintain the same during the forecast period.

Impact Of Covid-19 On The Starch Based Bioplastics Market

• The pandemic is rapidly spreading and ruthlessly affecting the business environments of major markets. The demand for starch-based bioplastics is witnessing massive decline in all segments. Some regions, particularly, North America and Europe, are witnessing greater decline than Asia-Pacific. Amidst the ongoing crisis, starch-based bioplastics producers are operating at a lower capacity and are planning to scale up their operation after carefully assessing the course of COVID-19 in the near term.
• Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using starch-based bioplastics, thereby affecting the starch-based bioplastics market. 
• The impact of outbreak is likely to have a significant impact on the imports and exports of chemicals and raw materials. This, the demand for starch-based bioplastics packaging is likely to be low for the year 2020. However, the availability of the raw material combined with the R&D is likely to row the starch based bioplastics market in the years to come.