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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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Bio-based Polyethylene Market Size in 2022: | USD 500 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 15% |
| 2032 Value Projection: | USD 1.9 Billion |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 238 |
| Tables, Charts & Figures: | 245 |
| Segments covered: | Raw Material, Product, End-user, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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
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.
The bio-based polyethylene market from the pharmaceutical end-user segment is set to exhibit nearly 14.5% gains through 2032, on account of the strong focus on curbing environmental footprints. According to studies, scientists are suggesting that the pharmaceutical sector will have to mitigate emissions by close to 59% from 2015 levels to comply with the targets stated in the Paris Agreement. Such factors will encourage packaging manufacturers to bring efficient, durable, and lasting solutions to the mainstream. Increasing sustainability efforts in the pharmaceutical sector are also resulting in a shift from plastics to sustainable components, and in turn, bolstering the consumption of bio-based PE materials.
Asia Pacific bio-based polyethylene market is anticipated to register more than 14% CAGR through 2032, given the mounting preference for innovative solutions such as Korean cosmetics. Sales of Korean skincare and cosmetic products are reaching record highs in recent years, with strong sales in APAC countries including Indonesia. Furthermore, the high inclination toward bio-pharma packaging will influence companies to make significant strides with bio-PE solutions, thereby strengthening the regional market outlook.
Bio-based polyethylene Market Share
The competitive landscape of the bio-based polyethylene market comprises companies such as
- BASF
- SABIC
- LyondellBasell
- Toyota Tsusho Corporation
- Braskem
- FKuR
- Avery Dennison
- Mitsui Chemicals
- Kuraray Co., Ltd.
- The Dow Chemical Company
These companies are focusing on strategies such as innovative product development, mergers and acquisitions, and business expansions to increase their customer base and gain a competitive advantage.
Impact of COVID-19 Pandemic
The coronavirus outbreak has asserted a long-lasting impact on the packaging sector as consumer concerns over hygiene, health, and sustainability grew increasingly urgent. These trends are encouraging consumer packaged goods companies to design sustainable alternatives to virgin plastics. For example, by 2025, Nestle has targeted the use of 100% reusable or recyclable packaging. Factors such as these are expected to amplify the production of sustainable packaging materials, in turn, add impetus to bio-based polyethylene market growth.
This market research report on bio-based polyethylene includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD Million from 2018 to 2032 for the following segments:
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By Raw Material
- Sugar Cane
- Sugar Beet
- Others
By Product
- HDPE
- LDPE
- LLDPE
By End-user
- Food & Beverages
- Agriculture
- Pharmaceutical
- Cosmetics & Personal Care
- Textile
- Others
The above information is provided on a regional and country basis for the following:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Frequently Asked Questions (FAQ) :
Bio-based Polyethylene Market Scope
