How big is the polyhydroxyalkanoates market?

The global polyhydroxyalkanoates market size was estimated at USD 650.6 million in 2023 and is expected to reach USD 714.7 million in 2024.

What is the polyhydroxyalkanoates market growth?

The global polyhydroxyalkanoates market is expected to grow at a compound annual growth rate of 9.35% from 2022 to 2030 to reach USD 1,222.09 million by 2030.

Which segment accounted for the largest polyhydroxyalkanoates market share?

Based on type, the short chain length polyhydroxyalkanoates (SCL-PHA) segment led the market with a share of 50.16% in terms of revenue in 2023. The rising focus on waste management and circular economy principles is driving the demand for the segment. SCL-PHAs, which are derived from renewable sources such as organic waste and agricultural by-products, align with global efforts to reduce landfill waste and promote resource recovery.

Who are the key players in polyhydroxyalkanoates market?

Major companies include Danimer Scientific; TianAn Biologic Materials Co., Ltd.; Kaneka Corporation; P&G Chemicals; Tepha; Inc.; Newlight Technologies LLC; Bio-on S.p.A.; Yield10 Bioscience, Inc.; PHB Industrial S.A; and TianAn Biologic Materials Co., Ltd.

What are the factors driving the polyhydroxyalkanoates market?

Rising non-biodegradable plastic pollution globally is increasing the threat of various ill effects caused by this pollution leading to a surge in the demand for sustainable actions to effectively manage plastic pollution driving the demand for polyhydroxyalkanoates.