Polyhydroxyalkanoate Market Share

APAC Market Statistics

The Asia Pacific polyhydroxyalkanoate market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the boom in the packaging and biomedical sectors, and the rising number of working people, that increases the demand for packaged foods and other ready-made products. For instance, China generates around 10,000 metric tons per year PHA by Tianjin Green Bio-Science, whereas, in 2021, there were roughly 747 million working people in China. Further, the presence of significant key manufacturers of polyhydroxyalkanoate is another factor that is anticipated to expand the market growth over the forecast period, i.e., 2023 – 2037.

Europe Market Forecast

In addition to this, the European polyhydroxyalkanoate market is estimated to display notable market growth by the end of 2037. The major factors that contribute to the growth of the market in this region are the surge in the demand for PFA in terms of value and volume in several countries in the region, followed by the expanding governmental policies and initiatives to support the use of biodegradable plastics, along with increasing awareness in people regarding the environmental concern. Additionally, the increasing demand for premium packaging, and growing foreign exports are some more factors that are estimated to further propel the market growth during the projected time frame in the region.