"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Polyhydroxyalkanoate Market Size, Share & Industry Analysis, By Type (Short Chain, Medium Chain, and Long Chain), By Application (Packaging & Food Services, Biomedical, Agriculture, and Others), and Regional Forecast, 2024-2032

Last Updated: October 28, 2024 | Format: PDF | Report ID: FBI109847

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global polyhydroxyalkanoate market size was USD 30.6 million in 2023 and is projected to grow from USD 38.8 million in 2024 to USD 301.7 million in 2032 at a CAGR of 29.2% during the 2024-2032 period. Europe dominated the polyhydroxyalkanoate market with a market share of 47.71% in 2023.


Polyhydroxyalkanoates (PHA) are a class of biodegradable polymers synthesized by numerous microorganisms as a carbon and energy storage material. These biopolymers exhibit properties similar to conventional plastics while being environmentally friendly, making them increasingly vital in addressing plastic pollution. PHAs are composed of hydroxyalkanoate monomers, with their properties varying based on the monomer composition and structure. PHA's versatility spans diverse applications, including packaging, biomedical devices, agricultural materials, and even 3D printing. Their biocompatibility makes them suitable for medical applications such as sutures, implants, and drug delivery systems, reducing the risk of adverse reactions.


The COVID-19 pandemic had both positive and negative impacts on the market. PHA production faced challenges due to disrupted supply chains. Restrictions on movement and shipping delays affected the availability of raw materials and transportation of finished products. However, heightened awareness of environmental sustainability and the urgent need to address plastic pollution boosted interest in bio-based biodegradable alternatives such as PHA. This increased demand is particularly evident in sectors such as packaging, where there is a growing preference for eco-friendly materials over conventional plastics.


Polyhydroxyalkanoate Market Trends


Increasing R&D to Develop Advanced PHA Production Technologies is the Latest Market Trend


Ongoing research and development efforts have led to advancements in PHA production technologies, including fermentation processes and genetically engineered microorganisms. These advancements have resulted in improved production efficiency, higher PHA yields, and reduced production costs, making PHA more competitive with conventional plastics. Researchers have genetically engineered microorganisms such as bacteria and algae to produce PHA more efficiently. By optimizing metabolic pathways and enzyme activities, these engineered strains can achieve higher PHA yields and productivity rates. Additionally, advancements in strain development have yielded microbes capable of utilizing a wider range of feedstocks, including industrial waste streams and lignocellulosic biomass.


Traditional PHA production relies on sugars derived from crops such as corn and sugarcane as feedstock. However, researchers are exploring alternative feedstocks to reduce dependence on food crops and mitigate competition with food production. These alternative feedstocks include lignocellulosic biomass, organic waste, industrial by-products, and carbon dioxide (CO2) captured from industrial emissions. The diversification of feedstocks presents an opportunity to improve the sustainability and cost-effectiveness of PHA production. These developments underscore the latest trends in the market.


Request a Free sample to learn more about this report.


Polyhydroxyalkanoate Market Growth Factors


Increasing Demand for Sustainable Plastic Alternatives to Propel Market Growth


The market is experiencing a surge in demand driven by several key factors, shaping its growth trajectory and market dynamics. Polyhydroxyalkanoates, biodegradable polymers derived from renewable resources, are gaining attention as sustainable alternatives to traditional petroleum-based plastics. As awareness of environmental issues and the need for eco-friendly solutions grows, the market is poised for significant expansion.


The escalating global concern over plastic pollution is a primary driver of the polyhydroxyalkanoate market growth. Traditional plastics, derived from fossil fuels, pose a severe threat to the environment due to their non-biodegradable nature. PHAs offer a sustainable solution as they are biodegradable under various environmental conditions, including soil, marine, and composting environments. As governments, businesses, and consumers prioritize sustainability initiatives, the demand for PHAs as a biodegradable plastic alternative is rapidly increasing. Heightened awareness of plastic pollution and its detrimental impact on ecosystems, marine life, and human health has spurred demand for biodegradable and eco-friendly alternatives. PHA, being biodegradable and derived from renewable resources, presents a viable solution to mitigate plastic waste accumulation in landfills and oceans.


Secondly, regulatory initiatives aimed at reducing plastic waste are fueling the adoption of PHAs. Governments worldwide are implementing stringent regulations and policies to curb plastic pollution and promote the use of biodegradable materials. This includes bans on single-use plastics, mandates for biodegradable packaging, and incentives for sustainable product development. As regulatory pressure mounts, industries are seeking viable alternatives, driving the demand for PHAs across various sectors such as packaging, agriculture, textiles, and biomedical applications. These factors are expected to drive demand for polyhydroxyalkanoate.


RESTRAINING FACTORS


Limited Scalability of Polyhydroxyalkanoate Production May Hamper Market Growth


Microbial fermentation processes are the primary method for PHA production, but scalability remains a challenge. Scaling up production to meet commercial demands often involves significant capital investment and technical challenges, including optimizing fermentation conditions, ensuring product purity, and maintaining consistent product quality at larger scales. As a result, achieving cost-effective large-scale production of PHAs is hindered by these scalability limitations. Additionally, the performance characteristics of PHAs may not always meet the requirements of specific applications. While PHAs offer biodegradability and environmental benefits, their mechanical properties, such as strength, flexibility, and heat resistance, may not match those of conventional plastics in some applications. This limitation restricts the range of industries and applications where PHAs can be effectively utilized, particularly in applications requiring high-performance materials.


Polyhydroxyalkanoate Market Segmentation Analysis


By Type Analysis


Short Chain Segment Held the Largest Share Attributed to Superior Properties


By type, the market is segmented into short chain, medium chain, and long chain.


The short chain segment held the largest polyhydroxyalkanoate market share in 2023 due to easy availability, lower cost, and superior properties. Furthermore, the growing expansion of the packaging industry will further boost the demand for short-chain-length polyhydroxyalkanoates.


The medium and long-chain segments are expected to show significant growth by the end of the prediction period. Medium-chain PHA exhibits unique properties that make them suitable for various applications. They are known for their rapid degradation in natural environments, making them ideal for single-use disposable products and compostable packaging materials. Rising demand in the manufacturing of water bottles and shopping bags will boost the segment growth.


By Application Analysis


To know how our report can help streamline your business, Speak to Analyst


Packaging & Food Segment Dominanted Due to Exceptional Barrier Properties


Based on application, the market is segmented into packaging & food services,  biomedical, agriculture, and others.


The packaging & food services application segment dominated the market in 2023. PHA packaging demonstrates excellent barrier properties, protecting food products from moisture, oxygen, and other external contaminants. This helps extend the shelf life of perishable goods, reducing food waste, and improving product quality.


Polyhydroxyalkanoates are revolutionizing the biomedical field, offering versatile and sustainable solutions for various medical applications. As a biodegradable and biocompatible polymer, PHA holds immense potential in tissue engineering, drug delivery, medical implants, and regenerative medicine, among other areas.


REGIONAL INSIGHTS


Based on region, the market is categorized into Europe, North America, the Asia Pacific, Latin America, and the Middle East & Africa.


Europe Polyhydroxyalkanoate Market Size, 2023 (USD Million)

To get more information on the regional analysis of this market, Request a Free sample


Europe region accounted for a value of USD 14.6 million in 2023 and is expected to show significant growth. The region was also the dominated the  polyhydroxyalkanoate market in the year 2023. The growth is attributed to the large manufacturing base for bioplastics in countries such as Germany, France, and the U.K. The availability of raw materials and stringent regulations for plastic disposal are the primary factors expected to drive market growth by the end of the forecast period. Moreover, initiatives such as bans on single-use plastics and incentives for biodegradable materials create a favorable environment for polyhydroxyalkanoate adoption and production.


To know how our report can help streamline your business, Speak to Analyst


The Asia Pacific region is one of the key markets for polyhydroxyalkanoate and is expected to witness significant growth. Rapid industrialization and urbanization in countries such as China, India, and Southeast Asian nations have encouraged demand for eco-friendly materials across various sectors, including packaging, agriculture, and biomedical applications.


The North America region has a robust R&D ecosystem, with academia, research institutes, and companies actively involved in developing innovative PHA formulations, production processes, and applications. This is expected to boost the regional market growth significantly.


In Latin America, home to some of the world's most biodiverse ecosystems, there are increasing environmental concerns, including plastic pollution. As awareness grows, there's a rising demand for eco-friendly alternatives such as polyhydroxyalkanoates. Governments across Latin America are implementing regulations to mitigate plastic pollution, promoting the use of biodegradable materials. Hence, Latin America is anticipated to register considerable growth during the forecast period.


The Middle East & Africa region faces environmental challenges, including plastic pollution, desertification, and water scarcity. With a growing emphasis on economic diversification beyond oil and gas, countries in this region are exploring opportunities in renewable energy and sustainable industries. PHA production presents a viable avenue for diversification, leveraging the region's abundant feedstock resources and research capabilities.


List of Key Companies in Polyhydroxyalkanoate Market


Key Companies Adopt Pricing Strategies to Broaden Their Market Presence


Bio-on SpA Source, PolyFerm Canada, Kaneka Corporation, and Danimer Scientific are the key players in the market. Industry players mainly focus on product development, pricing strategies, and applications. These strategies can help companies expand their market presence by attracting different customer segments, responding to competitive pressures, leveraging perceived value, and adapting to changing market conditions. To boost their market share and achieve a competitive advantage, several major players are engaged in numerous strategic agreements to promote brand and sales.


LIST OF KEY COMPANIES PROFILED:



  • Bio-on SpA Source (Italy)

  • PolyFerm Canada (Canada)

  • Tianjin GreenBio Materials Co., Ltd. (China)

  • Kaneka Corporation (Japan)

  • Danimer Scientific (U.S.)

  • Newlight Technologies (U.S.)

  • RWDC (U.S.)

  • Tianan Enmat (China)

  • Paques Biomaterials (The Netherlands)

  • CjBio (South Korea)

  • Bluepha (China)

  • Full Cycle Bioplastics (U.S.)

  • Yield10 Bioscience, Inc. (U.S.)

  • TerraVerdae Bioworks (Canada)


KEY INDUSTRY DEVELOPMENTS:



  • September 2023- Lummus Technology, a global provider of process technologies and value-driven energy solutions, and RWDC Industries, a biotechnology company developing biopolymer material solutions, announced a binding Joint Development and Commercial Cooperation Agreement (JDCCA) to expand manufacturing and global licensing of polyhydroxyalkanoates.

  • May 2023- Bluepha Co. Ltd, the leading synthetic biology company in China, and TotalEnergies Corbion, a global leader in PLA technology, have signed a memorandum of understanding (MOU) to accelerate the market adoption of PLA/PHA-based solutions in China. The collaboration aims to bring together the expertise and resources of both companies to further advance the development of high-performance biopolymer solutions, combining Bluepha Polyhydroxyalkanoates with Luminy Polylactic Acid (PLA) technology.

  • March 2023-  Bluepha, launched its first portfolio of marine degradable biopolymers, Bluepha PHA, on March 1st, 2023

  • January 2022 –  TerraVerdae Bioworks announced the signing of a binding letter of intent to acquire 100% of the equity of PolyFerm Canada. TerraVerdae is one of the leading performance biopolymer companies dedicated to developing sustainable alternatives to petroleum-based plastics in order to reduce climate impacts and the growing build-up of plastic trash on land and in water.


REPORT COVERAGE


An Infographic Representation of Polyhydroxyalkanoate Market

To get information on various segments, share your queries with us



The global market report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, applications, and types. Additionally, the report offers insights into market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth of the market over recent years.


To gain extensive insights into the market, Request for Customization


Report Scope & Segmentation
















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 29.2% from 2024-2032



Unit



Value (USD Million) and Volume (Tons)



 


Segmentation



By Type



  • Short Chain

  • Medium Chain

  • Long Chain



By Application



  • Packaging & Food Services

  • Biomedical

  • Agriculture

  • Others



By Region



  • North America (By Type, By Application, By Country)


    • U.S. (By Application)

    • Canada (By Application)


  • Europe (By Type, By Application, By Country)


    • Germany (By Application)

    • U.K. (By Application)

    • France (By Application)

    • Italy (By Application)

    • Rest of Europe (By Application)


  • Asia Pacific (By Type, By Application, By Country)


    • China (By Application)

    • Japan (By Application)

    • India (By Application)

    • South Korea (By Application)

    • Rest of Asia Pacific (By Application)


  • Latin America (By Type, By Application, By Country)


    • Brazil (By Application)

    • Mexico (By Application)

    • Rest of Latin America (By Application)


  • Middle East & Africa (By Type, By Application, By Country)


    • Saudi Arabia (By Application)

    • South Africa (By Application)

    • Rest of Middle East & Africa (By Application)







Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 30.6 million in 2023 and is projected to reach USD 301.7 million by 2032.

In 2023, the Europe market size stood at USD 14.6 million.

Growing at a CAGR of 29.2%, the market will exhibit steady growth during the forecast period.

Based on application, packaging & food services segment led the market in 2023.

Increasing demand for sustainable plastic alternatives is a key factor driving market growth.

Bio-on SpA Source, PolyFerm Canada, Kaneka Corporation, and Danimer Scientific are a few leading market players.

Europe held the highest market share in the market.

Growing packaging and biomedical industries and increasing demand for bio-based products are expected to drive product adoption.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts
Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 200
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Chemicals & Materials Clients
GM
Citibank
Iwatani
BASF
Mobil
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X