Home > Chemicals & Materials > Polymers > Industrial Polymers > Bio-based polyethylene (PE) Market

Bio-based polyethylene (PE) Market - By Raw materials (Sugar Cane, Sugar Beet), By Product (HDPE, LDPE, LLDPE), By Application (Food & Beverages, Agriculture, Pharmaceutical, Cosmetics & Personal Care, Textile) & Global Forecast, 2023 -2032

  • Report ID: GMI4333
  • Published Date: Feb 2023
  • Report Format: PDF

Bio-based polyethylene Market Size

Bio-based Polyethylene Market size exceeded USD 500 million in 2022 and is poised to depict a 15% CAGR between 2023 and 2032, due to the high preference for sustainable packaging materials.

Bio-based Polyethylene Market

In order to reduce fossil fuel consumption, manufacturers are increasing their emphasis on the development of eco-friendly alternatives to conventional plastics. For instance, Henkel has announced plans for a 50% reduction in the usage of fossil-sourced virgin plastics in consumer packaging products by 2025. Such initiatives are expected to boost the acceptance of sustainable packaging materials and consequently promote bio-based polyethylene market expansion.

Bio polyethylene also offers the same technical advantages and appearance as traditional PE and is thus gaining traction as a key sustainable packaging material across the food industry. The thriving food processing sector will also proliferate the use of food-grade packaging solutions and create lucrative growth opportunities for bio-based PE developers. However, the availability of alternatives including bio-based polypropylene may create roadblocks to the business expansion.

Bio-based polyethylene Market Analysis

Bio Based Polyethylene (PE) Market Share, By Raw Material

The bio-based polyethylene market value from the sugar beet raw material segment reached USD 180 million in 2022, owing to its ability to create composites with lightweight bearing properties, when combined with PLA and other biodegradable polymers. PLAs combined with around 50% sugar beet pulp content can also create biodegradable thermoplastic composites suited for use in disposable food packaging. In April 2022, Tjoapack invested over USD 10.8 million for expansion projects at its Etten-Leur pharma packaging facility in the Netherlands. Development such as these are bolstering the demand for bio-based PE products such as pharma plastic bags and containers made using sugar beet pulp.

The HDPE product segment of bio-based polyethylene market valued at USD 190 million in 2022, on account of the extensive availability of bio-based materials. With the growing rate of online food ordering, the adoption of aggregator websites, such as Uber Eats, has surged considerably. Based on the PYMNTS’ ConnectedEconomy Monthly Report, close to 36.5% of consumers from the Pacific order grocery products online.

Since HDPE is certified as a food-grade polymer, it is gaining significant traction in the manufacture of food storage containers. Thus, with the growing consumption of convenience foods, it is likely that the use of HDPE in the food and beverages sector.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of bio-based polyethylene exceeded USD 500 million in 2022 and is poised to depict a 15% CAGR between 2023 and 2032, due to the growing preference for sustainable packaging materials.

The HDPE product segment valued at USD 190 million in 2022, considering extensive availability of bio-based packaging materials and the mounting online food delivery.

The Asia Pacific market is anticipated to register over 14% CAGR through 2032, given the mounting preference for innovative cosmetics.

BASF, SABIC, LyondellBasell, Toyota Tsusho Corporation, Braskem, FKuR, Avery Dennison, Mitsui Chemicals, Kuraray Co., Ltd., and The Dow Chemical Company, among others are prominent players in the bio-based polyethylene (PE) industry.

Bio-based Polyethylene Market Scope

Buy Now

Premium Report Details

  • Base Year: 2022
  • Companies covered: 11
  • Tables & Figures: 245
  • Countries covered: 19
  • Pages: 238
 Download Free Sample