by The India sustainable biopolymers market has been gaining traction over the past few years owing to rising environmental concerns associated with synthetic plastics. Biopolymers are sustainably sourced renewable polymers derived from biomass sources like corn, sugarcane or cellulose which are compostable and biodegradable in nature. They find wide usage in packaging films, disposable tableware and in agriculture applications as biobasedmulch films.The shifting consumer preference towards eco-friendly products and stringent government regulations limiting the usage of single-use plastic products is fueling the demand for biodegradable biopolymers in India.
The Global India Sustainable Biopolymers Market is estimated to be valued at US$ 348.1 Mn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Key Takeaways
Key players: Key players operating in the India sustainable biopolymers market are India Glycols Limited, SKYi FKuR Biopolymers Pvt Ltd, Bioplastics India, Biotecnika, Green Dot Bioplastics, EcoCocoon, Ecolife Recycling, Biopac India Corporation Ltd., Sree Sakthi Paper Mills, Aum Biofuels, Bioplastics Technology, Green Plastics, Eco-Friendly Bioplastics Pvt Ltd, Parakh Agro Industries Ltd., and Sukhbir Agro Energy Ltd.
Key opportunities: The ban on single-use plastic by the government from July 2022 provides huge growth opportunities for India sustainable biopolymers Companies manufacturers in India. There is immense scope for innovation in developing new bioplastics suitable for various applications from research institutes and startups. Furthermore, favorable government policies promoting the use of bioplastics will drive the market during the forecast period.
Global expansion
Leading India Sustainable Biopolymers Market Size players are exploring overseas markets for business expansion to cater to the growing global demand for sustainable alternatives. Companies are focusing on markets in Southeast Asia, Europe and North America through partnerships, joint ventures and exports. South Asian countries provide significant growth potential owing to their plastic consumption and emphasis on environment protection.
Market drivers
The increasing adoption of sustainable practices across industries along with growing environmental awareness among consumers is a key market driver. The rapidly growing e-commerce sector’s need for biodegradable packaging materials will also boost the India biopolymers industry. Supportive government policies promoting the use of eco-friendly products through subsidies and incentives are expected to positively impact the market during the forecast period.
PEST Analysis
Political: The Indian government has implemented policies and schemes to promote sustainability and the use of bioplastics. Regulations support the ‘Swachh Bharat’ cleanliness mission.
Economic: Growth of end user industries like packaging, food and beverages, and agriculture drives demand for sustainable materials. Cost-competitiveness compared to petroleum-based plastics increases market viability.
Social: Rising health and environmental consciousness encourages use of eco-friendly products. Social media highlights issues of plastic pollution and climate change.
Technological: Advancements in bioplastic materials develop new applications. Researchers work on improving mechanical and thermal properties to match conventional plastics. Scaling up of production processes increases affordability.
The Southern region accounts for around 35% of the total market value currently. States like Tamil Nadu, Karnataka and Kerala have seen growing demand from major industries located there. The West region including Maharashtra and Gujarat holds the second largest share due to large agri-processing and manufacturing sectors in these states.
The Northern region is expected to be the fastest growing market during the forecast period. States like Uttar Pradesh, Punjab and Haryana are industrializing rapidly. Supportive government programs are promoting sustainability. Use of bioplastics in packaging, construction, automotive and textiles will help increase the market value in North India at over 13% annually till 2031.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
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