PUBLISHER: Grand View Research | PRODUCT CODE: 1405924
PUBLISHER: Grand View Research | PRODUCT CODE: 1405924
The global biopolymers market size is estimated to reach USD 38.69 billion by 2030, registering a CAGR of 10.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for these Biopolymers is expected to increase exponentially on the account of increasing demand for bio-based or eco-friendly and sustainable solutions in the packaging industry.
Biopolymers find vast applications in numerous fields where biodegradable and sustainable products are needed. For instance, the utilization of the drug delivery process, to increase the performance of various bioactive molecules is still a crucial method for achieving illness therapy. A variety of synthetic, semi-synthetic, and natural polymers, especially Biopolymers are increasingly used in these application areas.
The mounting perception about the ill effects of traditionally used plastics on the environment has led to a shift towards the utilization of Biopolymers. Traditional petrochemical-based plastics contain dangerous chemicals that can leach into drinks and food products, which can result in numerous health issues. On the other hand, bio-based products reduce the risk of deadly exposure. To sum up, the demand for healthier products is steering the growth of the Biopolymers market on a global scale.
The cost of production of Biopolymers acts as a major barrier to the growth of the overall market. Upon comparison, the manufacturing cost of Biopolymers is typically 20% to 100% more than that of the traditionally used petro-based polymers, as the polymerization cost of such polymers is relatively higher. To sum up, the production and utilization of bio-based polymers is still in the development stage, and as a result, numerous research & development activities are being undertaken to overcome such types of restraining factors.