Economic aspects of marine biopolymers
subject: alternatives; bioeconomics; biological substances; Biomolecules; biotechnology; demand and supply; environment; global market; manufacturer; marine biopolymers; natural resources; pharmaceutical manufacturing
description: The usage of synthetic polymers such as plastic is a much-debated topic across the globe for a reason; it is not recyclable and harms the environment. However, todays consumers have shifted their preferences to eco-friendly products over harmful products. The biopolymers market globally accounted for about $13.7 billion in 2021, and by 2030, its projected to reach over $35.2 billion, growing at 11.07% [compound annual growth rate (CAGR)]. By 2026, the marine biotechnology sector will be worth $5 billion worldwide. Despite the manufacturing cost of marine biopolymers being higher than that of standard polymers, the market is growing faster because of its benefits across various industries and mainly for stakeholders. The biopolymer industry has evolved due to the depletion of petroleum reservoirs. Key players from countries such as the United States, Brazil, Germany, Netherlands, Italy, United Kingdom, Japan, Germany, and Australia are in the biopolymers market. Different classes of marine biopolymers and their industrial applications prove the precious value of ocean resources to society. 2025 Elsevier Ltd. All rights reserved.
creator: Halaswamy D.; Borehalli Mayegowda S.; Brijesh H.; Bheemappa M.
source: Marine Biopolymers: Processing, Functionality and Applications, pp. 989-1007.
publisher: Elsevier
date: 2024-01-01
rights: Restricted Access
relation: ISBN: 978-044315606-9; 978-044315607-6
format: Online
language: English
type: Book chapter
coverage: Halaswamy D., School of Business and Management, CHRIST-Deemed to be University, Kengeri Campus, Karnataka, Bengaluru, India; Borehalli Mayegowda S., Department of Psychology, CHRIST-Deemed to be University, Kengeri Campus, Karnataka, Bengaluru, India; Brijesh H., Department of Biotechnology, School of Applied Sciences, REVA University, Karnataka, Bengaluru, India; Bheemappa M., Department of Biotechnology, School of Applied Sciences, REVA University, Karnataka, Bengaluru, India