Mounting Landfilling Amidst Exploding Urbanisation Drives Horticulture Bioplastic Market
Plastics are used in horticulture for production, improved mechanization, and shipping. Historically plants have been grown in heavy brittle clay pots because no other material was available. That changed with introduction of lightweight moulded plastics, allowing vegetable growers, greenhouses, and nurseries to become larger, more efficient, and profitable by shipping products globally. As years passed, plastic firms began reducing waste by recycling and developing compostable plastics. The plastic industry is achieving sustainability by using bioplastic made from vegetable fats and oils, cornstarch, and soybean flour. Customer preferences for environmentally friendly products will drive demand for horticulture bioplastics. As a result, major plastic manufacturers and packaging suppliers have moved their attention to bioplastic technology. This is likely to fuel the growth of horticulture bioplastic market.
Government initiatives further encourage horticultural experts to utilise sustainable and eco-friendly goods, which is also one of the primary factors driving the horticulture bioplastic market. Landfills provide significant environmental problems, necessitating the incorporation of bioplastic into horticultural techniques. Greenhouse owners and gardeners can quickly reduce the ecological impact of plastic pots by using novel biodegradable materials. Every year, the globe creates 2.01 billion tonnes of municipal solid garbage, with at least 33% of that not being managed in an environmentally responsible manner. This factor will increase the demand for the use of bioplastic in horticulture, thereby boosting the growth of horticulture bioplastic market.
Another factor responsible for the increase in landfills is rapid urbanisation. Better work and education prospects, better health, greater access to social services, and more opportunity for social and cultural activities are all connected with urban living. As a result, people travel to towns and cities in search of a better standard of living. Globally, 4.46 billion people will reside in urban cities as of 2021. The world's urban population is expected to reach 6.68 billion by 2050, with an additional 2.22 billion people living in cities. Annual trash generation is anticipated to increase by 70% from 2016 to 3.40 billion tonnes in 2050 due to rapid population expansion, and urbanisation. The increase in the amount of such non-disposable waste resources will increase bioplastic in the coming years.
Polyester Will Dominate Market due to Its Varied Application
Polyesters will dominate the market share during the forecast period. The polyester segment trends are witnessing an increase in demand for carpets and rugs, as well as other industrial products like mattresses, in both residential and commercial flooring solutions, which are expected to favour worldwide market expansion over the forecast period. The segment has seen an increase in demand for market products from various end-use industries such as home, healthcare, automobiles, and electronics and construction, which is expected to drive the expansion of this segment in horticulture bioplastic market during the projected period. The growing construction activity worldwide is a primary driver of the polyester industry. Rapidly changing fashion trends and modern living standards will provide chances for high-end polyester with high durability, quick-drying, and easy-to-clean properties.
North America will Acquire Major Share due to an Increase in Private & Public Investment.
Currently, North America dominates the horticulture bioplastic market, which is projected to continue in the following years. The existence of important manufacturers, rising consumer health consciousness, and government assistance contribute to the growth of the horticulture bioplastic market in this region. Increased retail sales have resulted in the region's significant demand for bio-based packaging products. The increase in the food service sector has created a substantial need for bioplastic trays and bottles in the area. The increasing awareness of new technical breakthroughs in the industry by various governments, and other organisations in research and development promotes the growth of North America’s horticulture sector.
In 2022, US Agriculture Secretary Tom Vilsack stated that the USDA is following through on its promise to expand markets by spending US$1 Bn in partnerships to benefit America's climate-smart farmers, ranchers, and forest landowners. The new Partnerships for Climate-Smart Commodities opportunity will fund pilot projects to develop market opportunities for US agriculture and forestry goods that adopt climate-smart practices and incorporate novel, cost-effective methods of measuring and verifying greenhouse gas benefits. Such ongoing investments, and collaborations between private and public players will accelerate the growth of horticulture bioplastic market across the region.
Global Horticulture Bioplastic Market: Competitive Landscape
In September 2021, Braskem, the world's largest biopolymer producer has, signed a Memorandum of Understanding (MOU) with SCG Chemicals, one of Thailand's largest integrated petrochemical companies and an industry leader in Asia; they will jointly invest in a new bio-ethanol dehydration plant in Thailand to produce bio-ethylene and bio-based polyethylene, which will be used as raw material in the bioplastic market. In April 2021, NatureWorks and IMA Coffee established a new strategic relationship. This collaboration intends to expand the market reach of high-performing biodegradable K-cups in North America. IMA Coffee is a worldwide leader in coffee processing, handling, and packaging.
A few of notable players in global horticulture bioplastic market players include Green Dot Bioplastics, Novomant SPA, Metabolix, Inc., BASF S.A., Natureworks LLC, Corbion Purac, Braskem, Cardia Bioplastics, Biome Technologies Plc, FKuR Kunststoff GmbH, and Innovia Films.
Global Horticulture Bioplastic Market is Segmented as Below:
By Raw Material
Key Elements Included In The Study: Global Horticulture Bioplastic Market
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