The global polyhydroxyalkanoate market is expected to grow with a CAGR of 10.5% from 2023 to 2028

According to a market report by Lucintel, the future of the polyhydroxyalkanoate (PHA) market looks promising with opportunities in the packaging and food service, bio-medical, agriculture, wastewater treatment, cosmetic, 3D printing, and chemical addictive applications. The global polyhydroxyalkanoate market is expected to reach an estimated $0.30 billion by 2028 with a CAGR of 10.5% from 2023 to 2028. The major drivers for this market are growing demand for biodegradable polymer, significant application of PHA in the packaging, medical, and food industries, and increasing awareness towards environmental and plastic waste management across the globe.

In this market, sugar fermentation, vegetable oil fermentation, and methane fermentation are the major segments of polyhydroxyalkanoate market by production method. Lucintel forecasts that sugar fermentation will remain the larger segment over the forecast period due to its extensive use in the production of polyhydroxyalkanoate by fermentation of bacterial sugar or lipids.

Within this market, packaging and food service is expected to remain the largest significant use of PHA in packaging materials such plastic bags, films, cartons, sheets, and disposable spoons and cutlery.

Europe will remain the largest region due to the existence of stringent supportive regulation regarding the use of non-biodegradable plastics, growing demand for eco-friendly packaging, and presence of key manufacturer in the region.

Bio-on SpA, CJ CheilJedang, Danimer Scientific, Full Cycle Bioplastics, Genecis Bioindustries, Kaneka, and PolyFerm Canada are the major suppliers in the global polyhydroxyalkanoate market. 

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com.

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

Related Reports:

1. Compost Market

 

2. Phosphate Fertilizer Market

 

3. Pesticide Market

 

4. Herbicides Market:

5. Fertilizers Market:

6. Biopesticides Market:

 

7. Organic Fertilizer Market:

 

8. Fungicides Market:

 

9. Agrochemical Market:

 

10. Genetically Modified Seed Market: