The starch-based packaging market size is projected to be valued at US$ 7,214.5 million in 2023 and is expected to rise to US$ 13,416.0 million by 2033. The sales of starch-based packaging are projected to expand at a significant CAGR of 6.4% during the forecast period. Various factors propelling the demand for starch-based packaging are:
Starch-based packaging is an environment-friendly alternative to standard plastic packaging that has grown in popularity in recent years. Many companies are turning to starch-based packaging as a sustainable solution as the world becomes aware of the environmental impact of plastic waste. Starch-based packaging is biodegradable and compostable since it is derived from renewable resources such as corn, potatoes, and cassava. It has the same qualities as plastic packaging, but it degrades the environment considerably, lowering the quantity of plastic trash that ends up in landfills and oceans. Another benefit of starch-based packaging is its adaptability. It can be used to make a variety of packaging materials, such as food packaging, shopping bags, and shipping materials. Furthermore, it can be tailored to specific product requirements, making it an ideal solution for businesses looking for a sustainable packaging option.
Consumers seek products and packaging that reflect their beliefs as they become ecologically concerned. As a result, numerous companies have adopted starch-based packaging to separate themselves from competitors and appeal to environmentally concerned consumers. Many countries have banned or taxed single-use plastic packaging, forcing businesses to look for sustainable alternatives. This has opened up a new market for companies that provide starch-based packaging solutions. There are some disadvantages to using starch-based packaging. One of the most significant obstacles is the expense. Starch-based packaging is frequently expensive as compared to typical plastic packaging, which might be prohibitively expensive for some businesses.
Packaging made of starch has a low shelf life than plastic, which might have an impact on product quality and shelf stability. The market for starch-based packaging is to expand in the coming years. Starch-based packaging is projected to become an important aspect of the packaging industry as many companies and consumers seek sustainable alternatives to standard plastic packaging. Starch-based packaging is a possible solution to the worldwide plastic waste problem due to its sustainability, adaptability, and market growth potential.
Latest Developments in Starch-based Packaging Technologies
Nanotechnology is being explored as a means of improving the barrier properties and mechanical strength of starch-based packaging. This can help enhance its resistance to water, oxygen, and other gases. Biodegradable additives such as polylactic acid (PLA) and polyhydroxyalkanoates (PHAs) are being researched to improve the biodegradability of starch-based packaging solutions.
To increase the performance of starch-based packaging materials, coating technologies are being developed. Edible coatings derived from natural components like chitosan and gelatin, for example, can improve the barrier qualities of starch-based films and extend the shelf life of food products. Recycling starch-based packaging is being underdeveloped as a means of increasing the sustainability of these materials. Starch-based packaging can be recycled using the current infrastructure, and many organizations are working on closed-loop methods to recover and reuse starch-based products.
The United States is a Prominent Market, Holding a market share of 27.1% in 2022 due to Encouraging Government Policies. The United States government has taken initiatives to encourage the use of biodegradable and compostable packaging materials. The Break Free from Plastic Pollution Act, enacted in 2021, would oblige manufacturers to accept responsibility for their plastic trash and minimize the number of single-use plastics generated in the country. This could raise demand for alternative packaging materials like starch-based packaging.
Competitive Landscape
Some of the key players in the market include Cargill, Inc., Roquette Frères, Plantic Technologies, Inc., Novamont S.p.A., and NatureWorks LLC. These companies are involved in the development, manufacturing, and distribution of starch-based packaging solutions. They have a significant market presence in various regions around the world. They are also investing in research and development to improve the quality and performance of their products and to stay competitive in the market. There are also several small companies in addition to these large players focused on developing innovative and niche starch-based packaging solutions. These companies often operate in specific regions or markets and may specialize in specific types of products or applications.
Latest Developments:
In 2020, Novamont S.p.A. and the United Kingdom-based company Biopac announced a partnership to develop and launch a new range of compostable packaging products made from renewable resources. Mondi, a leading worldwide packaging manufacturer. It teamed with BIOhof Kirchweidach, an organic farm in Bavaria to design a sustainable packaging solution for 500g packets of tomatoes on the vine to be supplied to PENNY stores, which are owned by the leading Germany retailer REWE Group. Amcor, a worldwide packaging pioneer, revealed today the world’s first recyclable flexible retort pouch. This is regarded as a significant technical achievement, attained via years of sustained research and investment by the company.
These insights are based on a report on Starch-based packaging market by Future Market Insights
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