Global Polyhydroxyalkanoates (PHA) for packaging – Market Overview:
Plastic is one of the best packaging solutions for the packaging of food and other goods rather than other packaging solutions. The severe supervisory changes by several governments across the globe for decrease the usage of plastic has augmented the inclination of manufacturer towards the biodegradable plastics. This type of plastic is environmentally friendly and produced by the bacterial fermentation of lipids or sugar. Polyhydroxyalkanoates are gaining attention in the biodegradable polymers market due to their influence properties such as high biodegradability in different environments, not just in composting plants. Polyhydroxyalkanoates are used in the various application including packaging of food & beverages, cosmetics, bio-medical application and agricultural films among others. The global biodegradable plastics market is undesirably affected by the high cost of the invention of biodegradable plastics. The huge difference between the prices of biodegradable plastics and conventional plastics has negatively affected the polyhydroxyalkanoates market. Furthermore, the necessity of skillful labour, which is a challenge in emerging countries, has also restrained the global polyhydroxyalkanoates market in the near future.
Global Polyhydroxyalkanoates (PHA) for packaging – Market Dynamics:
There are several reasons which contribute to the growth of the polyhydroxyalkanoates market. One of the significant reason which plays an important role in the growth of the polyhydroxyalkanoates market is raising awareness among the consumer towards the environment protection. In addition, government regulations against the use of conventional plastic and tax relevance in the biodegradable industry may be the reason towards the inclination of the manufacturer. One of the major drivers of the global polyhydroxyalkanoates market is the fact that many manufacturers are now considering a shift in preference for biodegradable plastics, rather than plastics. This is attributed to increasing awareness among manufacturers regarding the disadvantages of plastics. Higher costs of polyhydroxyalkanoates as compared to conventional polymers are expected to hamper the growth of the market. Emphasis on minimizing the production costs of polyhydroxyalkanoates is expected to be a new opportunity for the growth of the market in the near future.
Global Polyhydroxyalkanoates (PHA) for packaging – Market Segmentation:
The polyhydroxyalkanoates for packaging market can be segmented on the basis of product type, manufacturing technology, and by end use.
On the basis of product type, polyhydroxyalkanoates for packaging market is segmented into –
- Poly (HA SCL)
- Poly (HA MCL)
On the basis of manufacturing technology, polyhydroxyalkanoates for packaging market is segmented into –
Ø Bacterial Fermentation
Ø Enzymatic Catalysis
On the basis of end use, polyhydroxyalkanoates for packaging market is segmented into –
- Food & beverages
Global Polyhydroxyalkanoates (PHA) for packaging – Regional Outlook:
Geographically, the polyhydroxyalkanoates for packaging market is segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and the Middle East & Africa (MEA). Moreover, Asia Pacific is expected to be the largest polyhydroxyalkanoates market for packaging, due to the rising demand by the textile and various industry. North America is expected to be the biggest subscriber in terms of volume and value because of awareness towards the use of environmentally friendly products. Europe is expected to occupy significant share in polyhydroxyalkanoates for packaging market significantly. Asia Pacific and North America have the largest regional market for polyhydroxyalkanoates for packaging, owing to high demand from customers. The Middle East and Central and South America are expected to observe considerable growth rates in near future. Alternatively, many polyhydroxyalkanoates suppliers and competitor companies are investing in Asia Pacific to tap the growing demand and potential. Furthermore, Asia Pacific is anticipated to witness maximum CAGR over the forecast period primarily driven by China, Japan, and India.
Global Polyhydroxyalkanoates (PHA) for packaging – Major Players:
Few of the key players identified across the globe in the polyhydroxyalkanoates for packaging market are Yield10 Bioscience, Inc., Shenzhen Ecomann Biotechnology Co., Ltd., Meredian Holdings Group, Inc., Ningbo Tianan Biologic Material Co. Ltd., Tianjin Greenbio Materials Co. Ltd., Bio-on S.p.A., Kaneka Corporation, BioMatera Inc. etc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.