Bioplastics Market is Rising as renewable materials usage is Improving to protect the ecosystem from Pollution

 

Bioplastics

Bioplastics are biodegradable materials derived from renewable resources that can be used to address the problem of plastic trash strangling the earth and polluting the ecosystem. Is it really necessary to keep using packaging that might take millennia to decompose in order to package things that only last a few days or months? Plastic is the world's third most widely used petroleum derivative; 200 million tonnes of plastic are utilised globally each year. It originates from a non-renewable (petroleum) source, is polluting, and is non-biodegradable (it can take more than 1000 years to decompose).

The global Bioplastics Market is projected to surpass US$ 215 billion by the end of 2027, in terms of revenue, growing at CAGR of 25.8% during the forecast period (2020 to 2027). Bioplastic is widely used across food packaging, disposables, containers, pouches, shopping bags, etc. application.

Bioplastics is an alternative option for Plastic- Bioplastics, which are made from natural polymers derived from agriculture, cellulose, or potato and corn starch waste, are being marketed as an alternative. These biopolymers, which are 100 percent degradable, equally resistant, and versatile, are already used in agriculture, the textile industry, medicine, and, more broadly, the container and packaging market, and biopolymers are becoming increasingly popular in cities across Europe and the United States for environmental reasons: they are known as PHA. Within ten years, this product is predicted to meet the demands of 10% of the European plastics industry.

PHA as bioplastic- These are polyesters produced by fermenting raw vegetable materials with a series of bacterial strains. For example, PHAs can be used for injection molding to build automobile parts and for many other uses. Specifically, PHA (polyhydroxyalkanoate) is extracted from bacteria such as pseudomonas. In its natural form, it is similar to transparent kitchen film, with the difference that it is an authentic bioplastic.

Advantages of Bioplastics-

·        They have a lower carbon impact.

·        They help to reduce energy consumption in the manufacturing process.

·        They do not necessitate the use of non-renewable raw resources.

·        Their manufacture minimises the amount of non-biodegradable trash that pollutes the environment.

·        They are free of potentially hazardous chemicals like phthalates and bisphenol A.

·        They have no effect on the flavour or odour of the meal.

Increasing initiatives for reducing global warming by the government is projected to foster the Bioplastics market growth. Growing need for reducing reliance on fossil fuels coupled with the easy availability of bio-based raw materials is also expected to propel the market growth of the bioplastic. Moreover, shifting preferences towards non-petroleum-based plastics is again creating demand for plastic over the forecast period.

Growing demand for green products, healthier lifestyle and environmental sustainability is projected to propel the market growth of the bioplastic. Increasing demand for organic-based material for packaging of food products is also driving demand for bioplastic. Moreover, consumers are willing to pay extra for eco-friendly packaging products in order to reduce the environmental impact. Thus, growing demand for the green product is expected to foster the market growth of bioplastic.

Market Restraints

The premium price of bioplastic due to high production cost is affecting the demand for bioplastic. Also, the limited performance of bioplastic is also expected to hinder the market growth over the forecast period.

Lack of awareness regarding the bioplastic among consumers of the developing region is expected to hamper the demand. This is expected to curb the market growth of the bioplastic over the forecast period.