The global cornstarch packaging market size is estimated to reach USD 1200.29 million by 2033, up from USD 240.51 million in 2023, at a compound annual growth rate (CAGR) of 17.59% from 2024 to 2033.
Download Statistical Data: https://www.towardspackaging.com/download-statistics/5236
The cornstarch packaging market is set to grow prominently during the forecast period. Cornstarch is a component of a larger, developing trend of the bioplastics made from the agricultural waste or leftovers. Most of the establishments are beginning to develop their own safe and sustainable alternatives for plastics by utilizing a variety of renewable materials such as cornstarch, vegetables, oil and lipids. Polylactic acid (PLA) plastic, which is produced by fermenting the plant sugar and starch, is used to make the cornstarch containers. As PLA plastic does not include any harmful ingredients and produces minimal greenhouse emissions during the production, it is far more sustainable as well as environmentally benign than traditional plastics.
Also, cornstarch containers are a great alternative to the plastic for eco-friendly packaging since they are renewable and biodegradable, unlike petroleum-based plastic. Cornstarch packing is often used for food on-the-go. The increasing environmental awareness and the stringent government regulations and policies aimed at reducing plastic waste are expected to augment the growth of the cornstarch packaging market during the forecast period.
Furthermore, the increasing consumer preference for eco-friendly products coupled with the advancements in cornstarch processing is also likely to support the growth of the market. Additionally, growing focus on circular economy principles as well as the growing percentage of takeaways and food deliveries is also projected to contribute to the growth of the market in the years to come. The global packaging market size is estimated to grow from USD 1.20 trillion in 2022 to reach an estimated USD 1.58 trillion by 2032, growing at a 3.16% CAGR between 2023 and 2032.
The increasing takeaway and food delivery sector is projected to support the growth of the cornstarch packaging market during the forecast period. During the past few years, the global market for the food delivery has more than tripled. The demand for delivery and takeout services has increased significantly due to the introduction of attractive, simple to use applications and technologically enabled driver networks as well as shifting customer preferences and a move towards convenience. With recent investments, there are still significant developments taking place in the field. For instance, in March 2024, the meal delivery startup Wonder raised $700 million in new funding, almost tripling its original stock investment. The business intends to keep pushing these initiatives using these most recent raises in three different areas: driving unit economics, research and development and expansion.
Also, in June 2024, with the $250 million investment from Mubadala Investment Co. in Abu Dhabi, Turkish food delivery business Getir entered a new era of strategic emphasis and restructuring. This cash infusion arrives as Getir struggles to deal with the fallout from its aggressive growth and consequent withdrawal from the European market. In 2022, the company closed a $768 million Series E investment round, marking a key milestone. This trend of ordering food online and increasing investments has amplified the need for efficient and sustainable cornstarch packaging that can handle the logistics of delivering food while minimizing environmental impact. As cornstarch packaging is non-toxic and has a great resistance to oil and fragrance, it is ideal for food delivery or takeout. Even some packaging can be used in a microwave. Because cornstarch packaging satisfies the requirements for compostable plastics, it may be turned into beneficial fertilizer at commercial composting centers.
Cornstarch packaging, sometimes known as PLA, is made from corn. Since PLA is made from sustainable, natural carbon rather than carbon derived from fossil fuels, it can provide carbon savings when compared to traditional plastics. However, the cultivation of biomass for use as PLA feedstock has the potential to have adverse effects on the environment including effects on biodiversity, acidification and eutrophication. For the other bioplastics and PLA produced industrially to break down and biodegrade, they need to be gathered and composted at one of the few commercial composting centers that accept them, which operate at high temperatures and under strict control. There aren’t many composting facilities like this, and without the right infrastructure for recycling, PLA items end up in landfills and add to the plastic pollution problem by basically following the same waste pathways as ordinary plastics.
The primary issue with PLA is the extremely particular conditions that must be met for it to properly decompose. As PLA contaminates the recycling stream, it must be processed individually and brought to a closed composting environment. However, the PLA plastics must be heated to 140 degrees and treated to particular biodegradable digestive microorganisms before being shipped to the industrial composting centers. Therefore, it is nearly impossible for the products to finish their life cycle as marketed due to the harsh biodegradation conditions and slow rate of the biodegradation as well as the increased pressure on the customers to make certain their PLA waste is being sent to the appropriate facility. Due to these challenges, PLA plastics are assumed to wind into landfills or the ocean most of the time. The disposal of PLA can break down into tiny plastic particles packed with chemicals, which contaminate water and food supplies and spread throughout the ecosystem.
The implementation of stricter government regulations and policies targeting single-use plastics and waste management is expected to create opportunities for the growth of the cornstarch packaging market in the near future. As concerns about the environment and the demand for efficient waste management solutions increase, governments across the globe are implementing stringent measures to tackle the plastic pollution. These laws frequently include prohibitions or limits on the single-use plastics, requirements for packaging that is recyclable or biodegradable and support for switching to the sustainable options. For instance:
Buy Premium Global Insight: https://www.towardspackaging.com/price/5236
Get the latest insights on packaging industry segmentation with our Annual Membership – https://www.towardspackaging.com/get-an-annual-membership
If you have any questions, please feel free to contact us at sales@towardspackaging.com
About Us
Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
Browse our Brand-New Journal:
https://www.towardshealthcare.com
https://www.towardsautomotive.com
For Latest Update Follow Us: https://www.linkedin.com/company/towards-packaging/
Get Our Freshly Printed Chronicle: https://www.packagingwebwire.com/
Peelable Lidding Films Market Growth and Future Outlook The global market for peelable lidding films…
Reverse Tuck Box Market Size, Trends and Growth Outlook The reverse tuck box market was…
Growth Insights for the Global Pharmaceutical and Chemical Aluminum Bottles and Cans Market The global…
Plastic Tubes Market Growth Size, Trends and Regional Outlook (2024-2033) The global plastic tubes market…
PP Deli Food Container Market Size and Growth Insights The global PP deli food container…
Solid Bleached Sulfate (SBS) Board Market Growth and Forecast The global market for solid bleached…