In 2024, the global market value of PHA was estimated to be 73.12 million U.S. dollars. This is expected to grow to almost 128 million U.S. dollars by 2029 due to the increased global demand for biodegradable plastics. This growth is fueled by government policies and regulations against single use plastics, among other concerns about plastic waste. Polyhydroxyalkanoate (PHA) is a type of bioplastic that is produced in nature, but also manufactured by humans due to its relative sustainability as a plastic material.
Market value of polyhydroxyalkanoate (PHA) worldwide in 2022, with a forecast for 2029
(in million U.S. dollars)
*Estimated as of January 2024.
**Forecast based on a CAGR of 11.8 percent during the forecast phase 2024-2029.
This statistic has been assembled using several editions of the press release from the source.
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Market Data Forecast. (January 31, 2024). Market value of polyhydroxyalkanoate (PHA) worldwide in 2022, with a forecast for 2029 (in million U.S. dollars) [Graph]. In Statista. Retrieved December 03, 2024, from https://www.statista.com/statistics/1010383/global-polyhydroxyalkanoate-market-size/
Market Data Forecast. "Market value of polyhydroxyalkanoate (PHA) worldwide in 2022, with a forecast for 2029 (in million U.S. dollars)." Chart. January 31, 2024. Statista. Accessed December 03, 2024. https://www.statista.com/statistics/1010383/global-polyhydroxyalkanoate-market-size/
Market Data Forecast. (2024). Market value of polyhydroxyalkanoate (PHA) worldwide in 2022, with a forecast for 2029 (in million U.S. dollars). Statista. Statista Inc.. Accessed: December 03, 2024. https://www.statista.com/statistics/1010383/global-polyhydroxyalkanoate-market-size/
Market Data Forecast. "Market Value of Polyhydroxyalkanoate (Pha) Worldwide in 2022, with a Forecast for 2029 (in Million U.S. Dollars)." Statista, Statista Inc., 31 Jan 2024, https://www.statista.com/statistics/1010383/global-polyhydroxyalkanoate-market-size/
Market Data Forecast, Market value of polyhydroxyalkanoate (PHA) worldwide in 2022, with a forecast for 2029 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1010383/global-polyhydroxyalkanoate-market-size/ (last visited December 03, 2024)
Market value of polyhydroxyalkanoate (PHA) worldwide in 2022, with a forecast for 2029 (in million U.S. dollars) [Graph], Market Data Forecast, January 31, 2024. [Online]. Available: https://www.statista.com/statistics/1010383/global-polyhydroxyalkanoate-market-size/
