Biopolymer Market size was valued at more than USD 2.2 billion in 2015 and is expected to be worth over USD 6.5 billion by 2023, growing at a CAGR of more than 14%. Growing environmental concerns pertaining to the use of synthetic-based packaging coupled with increasing consumer demand for longer shelf life and high quality food products are anticipated to drive biopolymer coatings market size during the forecast period.
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Packaging was the dominant segment and accounted for approximately 55% of the total volume in 2015. Cost efficiency and environment friendliness are likely to be the key factors to drive growth. Cost, particularly will be critical, as industry penetration will be ultimately guided by biopolymer coatings market price trend.
U.S. biopolymer coatings market size is anticipated to witness high growth owing to the growing food & packaging industry and rising trend for green technology. Europe is expected to grow at significant rate due to growth in the food industry and shift in consumer preference for biodegradable products.
Polysaccharide consists of chitosan, alginates, and starch. It is used in paper packaging, owing to properties such as protection from gas, grease, and moisture. Starch is the most widely used agriculture raw material owing to its mass availability and low cost and is likely to continue witnessing high demand. Providing smooth paper surface without affecting its barrier properties are among key reasons for adoption. Lipid and composite are used in coating matrix and films due to their hydro-repellency properties that prevent moisture and vapor in packaging.
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Coatings help in retarding unnecessary moisture transfer as well as protecting food products from oxygen and oil. Global food packaging market size is estimated to be valued over 300 billion by 2023; increasing demand for bio-based packaging products is likely to fuel demand for biopolymer coatings. These factors are likely to give competitive edge to this product over synthetic and paperboard packaging materials.
This latest Biopolymer Coatings Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the Biopolymer Coatings industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Biopolymer Coatings Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023.” in detail along with the table of contents:
Key Insights in this Report
- Biopolymer Coatings Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Biopolymer Coatings Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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