According to this latest study, the growth in the Horticulture bioplastics market will change significantly from the previous year. Over the next six years, Horticulture bioplastics will register a CAGR in terms of revenue, and the global market size will reach USD in millions by 2028.
Horticulture bioplastics are made from bio-based materials, give nutrients as they decompose, and have several environmental advantages. Producers developed horticulture bioplastics as a solution to the environmental issues associated with the disposal of petroleum-based plastics. Bioplastics are plastics made from renewable sources such as woodchips, vegetable fats and oils, corn starch, straw, and sawdust, among others. Some bioplastics are made directly from natural biopolymers like starch, cellulose, chitosan, and alginate.
Market Dynamics and Factors:
Horticulture bioplastics are environment-friendly products. Customers preferences are changed customers are shifting from using plastic products that are harmful to the environment to using ecofriendly bioplastic products. Major plastic makers and packaging vendors have shifted their focus to bioplastic technology which is driving the growth of the horticulture bioplastics market. Government initiatives are encouraging horticulturists to utilize sustainable and environmentally friendly goods, which is one of the primary drivers driving the bioplastics market in the horticulture industry.
Horticulture Bioplastic Market Report Highlight:
• By type, the bio-based segment is anticipated to dominate the bioplastic market over the forecast period. Bio-based plastics are fully or partially made from biological resources, rather than fossil raw materials, this propels the growth of the bioplastic market.
• By raw material, the Bio-Polyethene Terephthalate segment is expected to dominate the Bioplastic market over the forecast period. Polyesters are a broad class of polymers with the potential to be synthesized from bio-based feedstock.
• By region, North America presently dominates the bioplastic industry, and this dominance is expected to remain in the next years. The presence of prominent manufacturers, growing consumer health awareness, and government support help the expansion of the bioplastic market in this region.
Key Industry Development:
• In September 2021, Braskem the largest biopolymer producer in the world has signed an (MOU) with the SCG Chemicals, one of the largest integrated petrochemical companies in Thailand and an industry leader in Asia; they are jointly investing in a new bio-ethanol dehydration plant in Thailand to produce bio-ethylene and bio-based polyethylene which is used as raw material in bioplastic market.
• In April 2021, NatureWorks announced a new strategic partnership with IMA Coffee. This partnership aims at increasing the market reach for high-performing compostable K-cup in North America. IMA Coffee is a market leader in coffee handling processing and packaging.
Horticulture Bioplastic Market Segmentation:
• Bio based
• Petrochemical based
By Raw Material
• Polylactic Acid
• Bio-Polyethene Terephthalate
• Starch Blends
Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Horticulture Bioplastic Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.