Press Release

Polyhydroxyalkanoates Market to Thrive Due to Heightened Government Regulations & Demand for Sustainable Packaging

The Global Polyhydroxyalkanoates Market is projected to grow at a CAGR of 16.3% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The market's expansion is attributed to heightened environmental concerns, amplified consumer consciousness & preferences, and the growing acceptance of the packaging industry. The widespread use of single-use plastics has led to significant environmental repercussions globally, including marine pollution, habitat degradation, and harm to wildlife. Increased public awareness of these issues has sparked demands for alternatives that naturally degrade and minimize environmental harm. Consequently, governments worldwide are enacting regulations aimed at curbing plastic waste and encouraging the adoption of sustainable materials. For instance:

• In 2023, the UAE announced it would prohibit all import, production, and circulation of single-use-plastic bags nationwide.

These regulatory measures have created a conducive environment for the adoption of polyhydroxyalkanoates (PHA), given their biodegradability and alignment with sustainability objectives. This, in turn, has fueled the growth of the PHA Market. Consumers are increasingly concerned about the environmental impact of single-use products, such as packaging and disposable goods. Hence, there is a growing preference for materials that can naturally biodegrade at the end of their life cycle, reducing the accumulation of plastic waste in landfills and oceans.

Polyhydroxyalkanoates (PHA) offer a promising alternative to traditional plastics because they can decompose into harmless components through microbial processes. Thus, this makes PHA suitable for a wide range of disposable and short-lived applications. Further, the packaging industry is under increasing pressure to reduce its environmental impact, particularly regarding plastic pollution and waste.

As a result, companies worldwide are turning to PHA as a sustainable packaging alternative. This growing demand for sustainable packaging solutions is expected to drive market growth in the coming years., further states the research report, “Global Polyhydroxyalkanoates Market Analysis, 2024.”

Global Polyhydroxyalkanoates Market Segmentation Analysis

Short Chain Segment to Dominate the Market

Based on the type, the market is further bifurcated into, Short Chain and Medium Chain. Among all, the Short-chain segment is poised to dominate the market due to its cost-effectiveness & versatility in applications. Short-chain PHAs are often more cost-effective to produce than medium or long-chain variants. This is due to processes like bacterial fermentation, which can use inexpensive substrates, resulting in lower production costs for short-chain PHAs.

This cost efficiency makes short-chain PHAs attractive for applications where cost is a crucial factor, leading to their substantial market share. Additionally, short-chain PHAs exhibit a wide range of physical and chemical properties, making them versatile for numerous applications in various industries.

Europe to Hold Significant Share of the Global Polyhydroxyalkanoates Market

Europe maintains a significant share of the Global Polyhydroxyalkanoates Market, largely attributed to its stringent regulations, government support for PHA advancement, and emphasis on the circular economy. Renowned for its rigorous environmental standards, Europe implements policies aimed at curbing plastic pollution and encouraging the utilization of biodegradable materials.

Initiatives like the European Union's Single-Use Plastics Directive and Circular Economy Action Plan provide incentives for transitioning to sustainable alternatives to traditional plastics. These regulatory measures foster an environment conducive to the adoption of PHA across diverse industries, consequently stimulating market expansion.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Danmier Scientific, Kaneka Corporation, Ecomann Biotechnology Co., Ltd., Paques Biomaterials, RWDC Industries, Bluepha Co., Ltd., Fully Cycle Bio-Plastics, Newlight Technologies, J. RETTENMAIER & SÖHNE GmbH + Co KG, Beijing PhaBuilder Biotechnology Co., Ltd., Yield10 Bioscience Inc., Japan Vam & Poval Co., Ltd., PolyFerm Canada, CJ CheilJedang Corp., and Others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Global Polyhydroxyalkanoates Market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various regions?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?