Marine Degradable Polymers for Fisheries Products Market Size Projected to Garner USD 90.5 Million by 2032 growing at 5.5% CAGR - Exclusive Report by Acumen Research and Consulting
The Global Marine Degradable Polymers for Fisheries Products Market Size is predicted to reach USD 90.5 Million by 2032 from USD 53.6 Million in 2022, at a CAGR of 5.5% between 2023 and 2032, as per the Acumen Research and Consulting
The use of marine degradable polymers in fisheries products has been steadily increasing in recent years due to growing environmental concerns and regulatory pressures surrounding plastic pollution in marine ecosystems. Traditional plastics used in packaging and processing within the fisheries industry often end up as marine litter, posing significant threats to marine life and habitats. As a result, there has been a shift towards the adoption of marine degradable polymers, which are designed to break down more rapidly in marine environments compared to conventional plastics.
One key driver behind the increased use of marine degradable polymers is the push for sustainable practices within the fisheries sector. Consumers, policymakers, and industry stakeholders are increasingly demanding eco-friendly alternatives that reduce the environmental footprint of seafood production and distribution. Marine degradable polymers offer a promising solution by providing packaging materials that degrade more quickly in marine environments, thus minimizing the risk of long-term pollution. Additionally, advancements in polymer science and technology have led to the development of marine degradable polymers with improved performance characteristics, such as strength, flexibility, and barrier properties. These innovations have made it more feasible for fisheries companies to transition away from conventional plastics without sacrificing functionality or cost-effectiveness.
Marine Degradable Polymers for Fisheries Products Market Statistics
- Global marine degradable polymers for fisheries products market value was worth USD 53.6 Million in 2022, with a 5.5% CAGR from 2023 to 2032
- Europe marine degradable polymers for fisheries products market share occupied around 50% in 2022
- Asia-Pacific region is expected to expand at the highest CAGR between 2023 and 2032
- By product, the bottom trawl segment captured the largest market share in 2022
- Growing demand for sustainable fishing practices, propel the marine degradable polymers for fisheries products market revenue
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Marine Degradable Polymers for Fisheries Products Market Trends
The market growth of marine degradable polymers for fisheries products has been robust in recent years, propelled by several factors including increasing environmental awareness, stringent regulations on plastic waste management, and a growing demand for sustainable packaging solutions. As consumers become more conscious of the impact of plastic pollution on marine ecosystems, there has been a significant shift towards eco-friendly alternatives in the fisheries industry. Marine degradable polymers offer a compelling solution by providing packaging materials that degrade naturally in marine environments, reducing the threat of pollution and harm to marine life.
Moreover, government initiatives and policies aimed at reducing plastic waste have played a pivotal role in driving market growth for marine degradable polymers in the fisheries sector. Many countries have implemented bans or restrictions on single-use plastics and are actively promoting the use of biodegradable and compostable materials in packaging. This regulatory landscape has created a favorable environment for the adoption of marine degradable polymers, encouraging fisheries companies to invest in sustainable packaging solutions to comply with regulations and meet consumer preferences. Furthermore, advancements in polymer technology and manufacturing processes have led to the development of marine degradable polymers with improved performance characteristics, such as durability, shelf-life, and cost-effectiveness.
Marine Degradable Polymers for Fisheries Products Market Segmentation
Acumen Research and Consulting has segmented the global marine degradable polymers for fisheries products market by material, product, and region.
- By material, the industry is categorized into Polybutylene Succinate (PBS), and Polybutylene Adipate Terephthalate (PBAT).
- By product, the market is classified into gillnet, fishing trap, dollyrope, and bottom trawl.
- By region, the market is divided into Asia-Pacific, North America, Europe, Latin America, and the MEA.
Marine Degradable Polymers for Fisheries Products Market Regional Overview
According to the marine degradable polymers for fisheries products industry analysis, the Asia-Pacific region has emerged as a significant and growing market for marine degradable polymers in fisheries products due to several factors driving demand and adoption in this region. One key factor is the rapid expansion of the fisheries industry across Asia-Pacific countries, driven by increasing seafood consumption, growing aquaculture activities, and rising export demands. With this growth comes a greater need for sustainable packaging solutions to address environmental concerns and comply with regulations, thus driving the uptake of marine degradable polymers. Moreover, Asia-Pacific countries are increasingly recognizing the importance of environmental sustainability and are implementing policies and initiatives to reduce plastic pollution. Governments in the region are introducing regulations aimed at curbing the use of conventional plastics and promoting the adoption of eco-friendly alternatives such as marine degradable polymers. This regulatory push is incentivizing fisheries companies to invest in sustainable packaging solutions and driving market growth for marine degradable polymers in the region.
Marine Degradable Polymers for Fisheries Products Market Players
Some of the prominent marine degradable polymers for fisheries products market companies are ROM PLASTICA srl, B4Plastics, Novamont S.p.A., BASF SE, Corbion, NatureWorks LLC, Danimer Scientific, Biome Bioplastics, Mitsubishi Chemical Corporation, Total Corbion PLA, Arkema Group, and FKuR Kunststoff GmbH.
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