New Study Predicts Growth in Market for Biopolymer Coatings
OCEAN VIEW, DE – A new study by Global Market Insights estimates that biopolymer market size was valued at more than $2.2 billion in 2015 and is expected to be worth over $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.
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 driving growth. Cost will be particularly critical, as industry penetration will be ultimately guided by price trends in the biopolymer coatings market.
U.S. biopolymer coatings market size is anticipated to witness high growth owing to the growing food and packaging industry and rising trend for green technology. Europe is expected to grow at a significant rate due to growth in the food industry and a shift in consumer preference for biodegradable products.
The Asia-Pacific biopolymer coatings market share is expected to be a major contributor due to the rapid industrialization and government initiatives in countries such as China and India to promote biodegradable products.
Biopolymers are sustainable, nontoxic and recyclable petrochemical packaging substitutes. Increasing prices of conventional energy resources and growing demand from consumers are also expected to be key drivers.
Biopolymer coating materials can be segmented into protein, polysaccharide and lipids. They can be used alone as well as together. Regular paper pigments, plasticizers, antioxidants and antimicrobial agents are added to coating solutions in order to enhance performance properties. Reutilization and recyclability are expected to be key factors to replace petroleum-based synthetic packaging from biopolymer coatings.
Protein-based coatings include caseinates, whey protein, soy protein, wheat gluten and corn zein. Protein is suitable for vegetables and fruits, eggs, meat, dry foods, nuts, and paper packaging. Protein-derived coatings provide an effective oxygen barrier at low to medium humidity. However, water vapor prevention is average due to its hydrophilic nature.
Whey protein is anticipated to be a substitute for commercial paperboard material such as fluorocarbon and polyvinyl alcohol, owing to its oxygen and grease-prevention abilities while maintaining food texture and taste. Insolubility in water, and gas barrier and film forming properties are likely to be among key factors to drive demand for wheat gluten-based biopolymer coatings market.
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, due to its mass availability and low cost; it is likely to continue witnessing high demand. Providing a smooth paper surface without effecting its barrier properties is among the 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.
Government support and initiatives to promote renewable energy resources and cost efficiency are likely to drive biopolymer coatings market size. These bio-packaging trends are anticipated to provide potential benefits to agricultural processors and farmers.
For more information about the report, Biopolymer Coatings Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023, visit www.gminsights.com.