Polyhydroxyalkanoate Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Polyhydroxyalkanoate Market in 2025 is assessed at USD 107.86 million. The global Market size was worth over USD 99.65 million in 2024 and is poised to grow at a CAGR of around 10.3%, reaching USD 356.42 million revenue by 2037. Asia Pacific is on pace to bring in largest share by 2037, fueled by boom in the packaging and biomedical sectors, along with the rising number of working people in the region.
The growth of the market can be attributed to the increasing demand for packaging products. For instance, based on a global survey, nearly 58% of consumers prefer sustainable packaging, while purchasing a product. Moreover, almost 75% of enterprises have made firm commitments to sustainable packaging. Further, the growing demand and traction for biodegradable packaging materials in packaging and food & beverages industries across the globe is also expected to majorly add the market growth. Since, polyhydroxyalkanoate has favorable properties such as biodegradability and excellent biocompatibility, which make it highly suitable for several nano-technological applications.
In addition to these, factors that are believed to fuel the market growth of polyhydroxyalkanoate (PHA) include their numerous beneficial qualities. PHAs are thought to be suitable for a variety of medical procedures and have a wide range of applications. These include hydrophobicity, inertness, and non-toxicity. PHAs have generated more interest than other biopolymers owing to their strong biocompatibility and thermal properties. Additionally, the material has prospective uses in bottles, foil laminations, and kitchenware, which may advance the PHA industry. Increasing production of these items projects is anticipated to raise the demand for PHAs. Besides this, the growing bio-clinical industry is predicted to present further new potentials for market expansion over the projected period.
