New York (US), July 13, 2023 (GLOBE NEWSWIRE) -- Starch-based Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Starch-Based Packaging Market By Type, Technology, Application, and Region - Forecast till 2032”, The starch-based packaging market will be surging from USD 7.4 Billion in 2023 to USD 12.4 Billion by 2032, at a rate of 6.70% between 2023 and 2032.
Market Synopsis
In recent years, starch-based packaging has become more and more popular as a greener substitute for conventional plastic packaging. As the world grows more aware of the environmental effects of plastic waste, more businesses are turning to starch-based packaging as a sustainable solution.
Given that it is made from renewable materials like corn, potatoes and cassava, starch-based packaging is both biodegradable and compostable. It provides the same advantages as plastic packaging but causes less environmental damage and less plastic waste to wind up in landfills and the ocean.
The versatility of starch-based packaging is another advantage. It can be used to create a range of packaging products, including food packaging, shopping bags, and shipping supplies. It may also be customized to meet the needs of particular products, making it the perfect option for companies searching for environmentally friendly packaging.
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Market Competitive Landscape:
The important manufacturers of starch-based packaging include
- Seamore
- Evoware
- Bloom
- Cuan Tec
- Starch-based Energy Based
- AlgaePac
- Algopack
- Sea6 Energy
- Oceanium
- Cascadia Starch-based
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 12.4 Billion |
| CAGR | 6.70% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Technology, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | The expanding flexible packaging market, packaging solutions' technological advancements, and increased disposable income |
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The market for starch-based packaging is expected to continue to grow as a result of major market participants making significant investments in R&D to diversify their product offerings. Market participants are also engaging in a range of strategic initiatives to broaden their global reach. Significant market developments include new product launches, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. The starch-based packaging industry must provide reasonably priced products if it hopes to grow and thrive in today's more competitive and volatile market environment.
Market USP Covered:
Market Drivers:
Glycerol on aluminum foil is being used in a lab setting to create starch-based plastic. The thermoplastic starch known as "bio-plastic starch" makes up the majority of the market and is currently the most widely used bioplastic. Both starch/polycaprolactone and starch/polylactic acid are starch-based bioplastics that are widely blended with biodegradable polyesters for use in industrial applications, such as food packaging. Furthermore, because of its vast supply from renewable resources, low cost, and inherent biodegradability, starch is often employed in the food industry. Most bioplastics on the market today are made primarily of starch. In addition, starch-based bioplastics are routinely made by combining modified starches with both natural and synthetic compounds.
The implementation of strict environmental regulations over use of these films, which have a lower negative environmental impact than traditional plastics, and an increase in the use of starch-based bioplastics as alternative packaging due to their barrier properties, which limit moisture transfer from food to the atmosphere, act as the key drivers of the global starch-based bioplastic market. Additionally, as businesses search for a reliable source of raw materials as a result of fluctuating oil prices, profitable prospects for industrial expansion are created. In addition, the packaging industry's use of starch-based films for food packaging, cosmetics packaging, pharmaceutical packaging, and commodities packaging is anticipated to spur market expansion.
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It is also projected that ongoing government investments and subsidies on the usage of biodegradable plastics to reduce the disposal problems of conventional plastics in the oceans and landfills will positively affect market growth. Additionally, governments support the usage of bioplastics by offering subsidies and levying taxes, which greatly aids in the market's expansion.
Latest Trends
The mechanical strength and barrier qualities of packaging made of starch are being improved through the use of nanotechnology. This might improve its resistance to gases like oxygen, water, and others. To increase the biodegradability of starch-based packaging options, biodegradable additives like polyhydroxyalkanoates (PHAs) and polylactic acid (PLA) are being studied.
To improve the performance of packaging made of starch, coating technologies are being explored. The barrier properties of starch-based films can be improved, and the shelf life of food products can be increased, by using edible coatings made of natural ingredients like chitosan and gelatin.
Recycling of starch-based packaging is still being underdeveloped in order to make these materials more sustainable. Using the current infrastructure, starch-based packaging can be recycled, and numerous organisations are developing closed-loop strategies to recover and reuse starch-based products.
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Market Restraints:
Using packaging made of starch has various drawbacks. The expense is one of the biggest barriers. When compared to standard plastic packaging, starch-based packaging is typically more expensive, which may be too pricey for some firms. Starch-based packaging has a shorter shelf life than plastic packaging, which may have an effect on the shelf stability and product quality.
However, the market for packaging made of starch will expand significantly during the next few years. It is anticipated to grow in significance as more businesses and customers look for eco-friendly alternatives to traditional plastic packaging. Due to its sustainability, versatility, and market expansion potential, starch-based packaging offers a viable answer to the problem of global plastic waste.
COVID 19 Analysis
The packaging industry has been significantly impacted by the COVID-19 outbreak. Due to the pandemic scenario, many countries had to go into lockdown in order to contain the rising number of cases. As a result, the demand and supply chains have been disrupted, which has had an effect on the global market. Numerous businesses, manufacturing facilities, and infrastructure projects had to be suspended as a result of the pandemic crisis.
The rate of market growth has been restrained by COVID-19 and the fluctuating price of the raw materials used to make packaging. On the good side, things are starting to settle down again, which is encouraging for future market expansion.
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Market Segmentation
By Type
Types of starch-based packaging includes starch mixed with PLA, starch blended with PHA, and others. In 2022, the starch combined with PLA segment was the market leader. This is explained by the fact that PLA with additional starch is a material with positive environmental effects.
By Technology
Injection molding, blow molding, extrusion, and other technologies are part of the segmentation of the market for starch-based packaging. The market for starch-based packaging was dominated by the injection molding sector in 2022. The advantages of automation and the decline in costs associated with the injection molding process account for this.
By Application
The rigid packaging, flexible packaging, textile, consumer goods, agricultural, automotive, building & construction, electronics, and others are all included in the segmentation of the starch-based packaging market, in terms of application. In 2022, the rigid packaging category dominated the world market. This is understandable given the widespread use of starch-based bioplastics in the packaging, consumer goods, agriculture, and automotive & transportation sectors.
Regional Analysis
In 2022, the Asia Pacific market held the top spot (45.80%). Due to the region's high population density, the biodegradable market in Southeast Asia has great potential. Government initiatives that encourage the use of biobased products are driving the growth of the Asia-Pacific market for starch-based bioplastics. The growing urbanization and industrialization in the developing economies of the Asia-Pacific region, particularly in India and other South East Asian countries, can also be attributed to the expansion of the regional market. China is the principal producer of starch-based polymers in Asia-Pacific.
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