Governments’ focus on green procurement policies will drive the Polyhydroxyalkanoate (PHA) Market

January 24 12:04 2022
Governments' focus on green procurement policies will drive the Polyhydroxyalkanoate (PHA) Market
Browse 159 market data Tables and 62 Figures spread through 205 Pages and in-depth TOC on “Polyhydroxyalkanoate (PHA) Market”
Polyhydroxyalkanoate (PHA) Market by Type (Short Chain Length, Medium Chain Length), Production Method (Sugar Fermentation, Vegetable Oil Fermentation, Methane Fermentation), Application, and Region”

The polyhydroxyalkanoate (PHA) market is projected to reach USD 121 million by 2025, at a CAGR of 14.2% from USD 62 million in 2020. PHA, a family of organic compounds, is used to produce biodegradable polymer and plastics. The increasing focus on the reduction of non-degradable plastics is attributed to the implementation of stringent government norms and regulations regarding the use of petro-based plastics. The global demand for PHA from various applications, including packaging & food services, biomedical, and agriculture, is expected to increase significantly during the forecast period.

To know about the assumptions considered for the study download the pdf brochure

The policies of governments in various regions regarding purchasing sustainable and environment-friendly products (green products) are a major factors driving the market of biodegradable and sustainable PHA-based plastics. For instance, in Mexico in August 2009, all the non-biodegradable plastic bags were officially banned. In France, under the 2005 Law of Agriculture Policy, the country’s agriculture ministry promotes biodegradable plastics. UNEP launched a campaign in 2017, which was called Clean Seas, and, till now, the campaign has garnered a commitment from over 50 countries, representing over 60% of the world’s coastline, including a commitment from India to eliminate single-use plastics by 2022. The European Union has also recently updated the list of Food contact materials Regulation (EU) No 10/2011 on January 11, 2019, Commission Regulation (EU) 2019/37, which will boost the use of PHA in the packaging & food services application.

Packaging and food services industry is projected to account for the largest share of the polyhydroxyalkanoate (PHA) market between 2020 and 2025.”

PHA  play a key role in the packaging and food services industry. The demand for PHA in this segment is expected to increase because of its increasing use in several applications, including cups, lids, food containers, and other food service products. The rising environmental concerns, along with waste management problems  are the key drivers of this segment. The packaging & food services segment is the biggest source of plastic waste in the world and the penetration of bioplastics and biodegradable plastics is favorable for market growth.

Europe is expected to be the largest polyhydroxyalkanoate (PHA) market during the forecast period, in terms of value and volume.

Europe is projected to be the largest market for the polyhydroxyalkanoate (PHA) during the forecast period. Europe is the most promising market for bioplastics and related industries, including PHA. The European market is mostly driven by government regulations and a change in consumer behavior. The Europe market is segmented into Germany, France, Italy, UK and Rest of Europe. The Rest of Europe includes, Spain, Poland, the Czech Republic, Romania, the Benelux countries, and the Scandinavian countries.

The strict governmental law against single use plastic and increasing concerns over human health and safety are the key driving factors responsible for the market growth in the European region. The need for environment-friendly products is driving innovation in the bioplastics industry in this region. The packaging and food services industry demands single use plastics and sustainable packaging. This increases the need for bioplastics, which in turn drives the market for polyhydroxyalkanoate (PHA). Moreover there are a large number of PHA manufacturers in European region which has a huge domestic market in the region, giving this the largest market share.

The key market players profiled in the report include Danimer Scientific (US), Shenzhen Ecomann Biotechnology Co Ltd (China), Kaneka Corporation (Japan), RWDC Industries (Singapore), Newlight Technologies LLC (US), Bio-On (Italy), Tianan Biologic Materials Co Ltd (China), Biomer (Germany), and Bochemie (Czech Republic).

Request for Sample Report: 

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States