Polyhydroxyalkanoate Market Size Worth $ 125 Million by 2030 at 14% CAGR
February 20, 2023 ⚊ 1 Min read ⚊ Views 57 ⚊ BLOG
According to a recent market research report, the global polyhydroxyalkanoate (PHA) market size is expected to reach $125 million by the year 2030, growing at a Compound Annual Growth Rate (CAGR) of 14% from 2021 to 2030.
PHA is a biopolymer that is produced naturally by many microorganisms and can be used as a sustainable and biodegradable alternative to traditional petroleum-based plastics. With the increasing awareness of the harmful effects of plastic waste on the environment, there is a growing demand for eco-friendly and sustainable packaging solutions, which is driving the growth of the PHA market.
Moreover, governments around the world are implementing regulations to encourage the use of sustainable products, which is also contributing to the market growth. Additionally, the increasing demand for PHA in various applications such as packaging, agriculture
