Biodegradable plastics are generally derived from corn, wheat and potato starch. Biodegradable plastics products are thermoplastic materials which are treated with the similar machinery customarily used to process conventional plastics. Currently, the bio-plastics carrier bags market is endorsing high demand across several industries such as food and beverage, pharmaceuticals, locomotive, health and special care as they come in a wide variety of eye-catching designs and shapes. Cumulative consumer demand for the Eco-friendly plastic carrier bags has directed the plastic producers to change from traditional plastic bags to bio-plastic carrier bags.
According to NIIR PROJECT CONSULTANCY SERVICES (NPCS), the bio plastic containers market in India is projected to grow at a compound annual growth rate (CAGR) of 44.8% between 2009 and 2015.
Related Projects: – Biodegradable Products, Recyclable, Disposable, Eco-Friendly Plastics, Bioplastics, Compostable, Biodegradable Packaging for Food Products
Opportunities for Corn Starch Packaging: –
- The usage of corn starch bags as a replacement for plastic has potential in India assumed that the arcade is in a nascent phase.
- Corn starch packaging is 30 percent robust than existing polythene bags.
- They are biodegradable, corn starch bags are probable to appeal to ecologically conscious consumers and signify a niche arcade for new applicants that could attract a core consumer base.
- Although biodegradable bags could be made from a variety of natural raw materials, the most profusely accessible raw material is
Capacity Potential: –
- The corn starch business is fragmented in India with a figure of small and medium-sized manufacturers.
- Approximately 5 to 7 percent of India’s corn creation goes into starch.
- This suggests an annual corn starch production of 5–2 MMT. Though there is call from the paper, poultry/animal feed, and fireworks sectors, the fact that starch creates a slight quantity of nationwide corn production recommends a large scope for capacity expansion. Hence, the accessibility of corn starch for packaging could be adequate.
Related Book: – The Complete Technology Book on Starch and Its Derivatives
Indian Arcade Potential: –
India has proclaimed a comprehensive ban on the application of single-use
plastics in the country by 2022. Alertness among consumers about the adverse effects of plastics on the environment is rising. Corn starch is among the most regularly used supernumerary for plastic in packaging. Around 15,000 MT of plastic waste is made by India on a daily basis. Only 60 percent of the waste is composed for recycling, which generates pollution from the waste. In light of this condition, a plastic ban has been imposed on 18 states. Therefore, corn starch plastic bags are an emerging sector in India.
Willingness to Adopt: –
- A dynamic factor shaping the growth of the corn starch packaging market in India is the inclination of manufacturers and patrons to shift from plastic to corn starch packaging.
- It is possible to lower production prices by increasing the deviation of corn into the subdivision to outfit to demand, thus increase in market demand.
- It is also necessary to safeguard quality pledge at every step of the corn starch bag manufacturing procedure to eradicate adulteration.
Global Corn Starch Bags Market: –
The global bioplastics market magnitude was valued at USD 8.3 billion in 2019 and is estimated to register a compound annual growth rate (CAGR) of 16.1% from 2020 to 2027. This high progress is driven mainly by the growth of the global packaging end-use industry.
Related Videos: – Biodegradable Products, Recyclable, Disposable, Eco-Friendly Plastics, Bioplastics, Compostable, Biodegradable Packaging for Food Products
Bioplastics also supported by the new policies and regulations implemented and adopted by the government bodies globally. The non-biodegradable plastics sector led the market with a share of 54.96% in 2019 and will sustain its leading degree the forecast period.
Key Market Players: –
Arcade players for bio-plastic carrier bags market include, BioPak Pty Ltd., ALPAGRO Plastics N.V, Novamont S.p.A, Bio Bag Americas, Inc., , Thai Plastic Bags Industries Company Ltd. And others.
Conclusion: –
Niir Project Consultancy Services (NPCS) provides various project reports on different segments. Not only the present market scenarios but also future market overawe is also shared in the report. For the further requirement of business investment in projects like these, kindly contact Niir Project Consultancy Services (NPCS).
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For More Details: – Corn and its By Products , Derivatives, Maize Processing Industry