India Biopolymer Market Size & Growth Rate
The India Biopolymer Market is projected to grow at a CAGR of 14.7% from 2024 to 2030. The market's expansion is primarily driven by the government’s push to eliminate single-use plastics (SUP), which has significantly increased the demand for biopolymer-based products.
India Biopolymer Market Synopsis
India Biopolymer market experienced robust growth in recent years on account of the Government of India’s push to eliminate the use of single-use plastic (SUP) and its decision to discontinue the manufacture, import, stocking, distribution, sale and use of identified SUP items from 1 July 2022. Simultaneously, to meet the demands of eco-conscious consumers, many companies like Amul have adopted PLA-based packaging while other companies like ITC Limited, PepsiCo, and Hindustan Unilever Limited (HUL), have committed to achieving 100% compostable, recyclable, or reusable packaging by the year 2025. This would bolster the demand for the biopolymer-based products in the forecast period.
According to 6wresearch, India Biopolymer market size is projected to grow at a CAGR of 14.7% during 2024-2030F. India Biopolymers industry is expected to witness significant growth owing to the growing demand for bio-based and biodegradable bioplastic for packaging in the food and beverage sector. Moreover, the rising demand for alternatives to plastic-based fabrics in the textile sector is contributing towards the growth of the market. The growth of food processing sector (growing at a CAGR of 15.2% till 2025) and the textile and apparel sector (growing at a CAGR of 10% till 2025) in India which are looking for alternatives to traditional plastics are increasingly adopting bio-based and biodegradable bioplastics like PLA, PHA, Bio-PET etc. Moreover, BCML has announced an investment worth Rs 2,000 crore to set up a 75,000 metric tonnes per annum Poly Lactic Acid (PLA) plant which would increase the penetration of biopolymers in the Indian market.
Market Segmentation by Product Type
In 2023, biodegradable polyesters held the majority of revenue share in the India biopolymers market, by product type, on account of their excellent durability, resilience and flexibility which makes them suitable for use in numerous areas including food packaging, agricultural films, disposable tableware, disposable medical supplies and compostable home and personal care products.
Market Segmentation by Applications
During the forecasted period, packaging is expected to experience significant growth in India Biopolymer Industry driven by strengthened government regulations on single-use plastic, along with increasing awareness among consumers about sustainability. This trend is anticipated to propel the demand for eco-friendly alternatives to plastic, such as bioplastics, in the coming years.
Market Segmentation by Region
In 2023, the South region held the majority of revenue share in the India biopolymers market, by region, on account of higher level of literacy and reverence for nature which is embedded in their cultural practices that boosted the uptake of biopolymers in this region.
Key Attractiveness of the Report
- 10 Years of Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- India BiopolymerMarket Overview
- India BiopolymerMarket Outlook
- India BiopolymerMarket Forecast
- Historical Data and Forecast ofIndia BiopolymerMarket Revenues, for the Period 2020-2030F
- Historical Data and Forecast ofIndia BiopolymerMarket Revenues, By Product Types, for the Period 2020-2030F
- Historical Data and Forecast ofIndia BiopolymerMarket Revenues, By Application, for the Period 2020-2030F
- Historical Data and Forecast ofIndia BiopolymerMarket Revenues, By Region, for the Period 2020-2030F
- Industry Life Cycle
- India BiopolymerMarket– Porter’s Five Forces
- Market Drivers and Restraint
- Market Trends
- Market Opportunity Assessment
- Company Revenue Share
- Market Competitive Benchmarking
- Company Profiles
Market Scope and Segmentation
Thereportprovides a detailed analysis of the following market segments:
By Product Type
- Biodegradable Polyesters
- Biodegradable Starch Blends
- PLA
- PHA
- Others (Bio PET, Bio PE, PTT )
By Applications
- Packaging
- Textiles
- Consumer Goods
- Agriculture
- Automotive
- Electronics
- Construction
- By Others
By Region
- Western (Gujrat, Maharashtra)
- Central (Madhya Pradesh, Chhattisgarh)
- Southern (Andhra Pradesh, Telangana, Karnataka, Tamil Nadu, Kerala, Odisha)
- Northern (J&K, Uttarakhand, Himachal Pradesh, NCT of Delhi, Rajasthan, Punjab, Haryana, Uttar Pradesh)
- Eastern (Bihar, Jharkhand, Chhattisgarh, West Bengal, Sikkim, Assam, Manipur, Arunachal Pradesh, Meghalaya, Nagaland, Tripura, Mizoram)
