November 14, 2024
India Sustainable Biopolymers Market

India Sustainable Biopolymers Market is moving towards Biodegradability by Sustainable Production

The India sustainable biopolymers market comprises biodegradable plastics such as polylactic acid (PLA), polybutylene succinate (PBS), polyhydroxyalkanoates (PHA), and other biopolymers that are produced from renewable feedstock like corn, cassava, sugarcane and other agricultural crops.

These biopolymers can replace conventional plastics in various applications like packaging films, food service ware, compost bags and agricultural mulch films etc. due to their properties of biodegradability and sustainability. These biopolymers are the eco-friendly alternatives to plastic derived from petroleum as they emit fewer greenhouse gases and get decomposed after disposal without harming the environment.

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 operating in the India Sustainable Biopolymers 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.

The growing demand for India Sustainable Biopolymers Market Demand and sustainable alternatives to conventional plastics from sectors like packaging, food services and agriculture is fueling the growth of India sustainable biopolymers market. Various government initiatives to curb pollution caused by single-use plastics and promote sustainable consumption are also boosting the market expansion.

With strong global focus towards adopting eco-friendly solutions, Indian biopolymer manufacturers are exploring foreign markets by exporting biodegradable products. Key players are undertaking strategic partnerships and collaborations with multinational corporations for research and development as well as overseas business expansion.

Market Key Trends

One of the major trends in the India sustainable biopolymers market Size And Trends  is the development of new bioplastic materials with improved properties. Continuous innovation is happening in material science to enhance the mechanical characteristics, thermal resistance and barriers properties of biopolymers. Researchers are developing newer biopolymer blends with natural and synthetic polymers to make them suitable for specialized applications.

Porter’s Analysis

Threat of new entrants: The sustainable biopolymers market in India requires high capital investment, thereby deterring new players to enter the market. Moreover, large existing players have strong brand recognition and economies of scale which make it difficult for new entrants.

Bargaining power of buyers: Buyers have moderate to high bargaining power due to the availability of substitutes. However, strict regulations towards sustainability provide less bargaining power to buyers.

Bargaining power of suppliers: Suppliers have moderate bargaining power since raw materials used for manufacturing biopolymers such as corn starch, sugarcane and cellulose have numerous substitutes.

Threat of new substitutes: Threat from substitutes is moderate as bioplastics provide sustainability benefits over conventional plastics. However, adoption of green technologies poses potential threats.

Competitive rivalry: The market is moderately competitive with presence of numerous local and international players. Competition is based on product quality, pricing and innovation.

Geographical Regions with Highest Market Share

The Southern region accounts for the largest share in the India sustainable biopolymers market in terms of value, attributed to the availability of raw materials and presence of various bioplastics manufacturing facilities. States such as Tamil Nadu, Kerala and Karnataka are major contributors.

Fastest Growing Region

The Western region is expected to witness the highest CAGR during the forecast period. This is owing to increasing environmental awareness and supportive government policies in states like Maharashtra and Gujarat for promotion of sustainable alternatives to plastics.

*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it

About Author - Priya Pandey
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Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. LinkedIn Profile 

 

About Author - Priya Pandey

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement. LinkedIn Profile   

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