Latest news with #Biodegradable
The Sun
25-05-2025
- Business
- The Sun
Teen Innovators Win Top Prize for Plastic Alternative in Hang Seng x HKFYG's Seek Our Ways Social Ideation Programme
HONG KONG SAR - Media OutReach Newswire - 23 May 2025 - A team of four Form Three students from Good Hope School has developed a revolutionary plastic alternative, earning them the Junior Division Grand Award in the inaugural Seek Our Ways Social Ideation Programme. Their invention, the 'Fully Biodegradable Gel', offers an edible, dissolvable and eco-friendly solution to single-use plastic. Supported by Hang Seng Bank and organised by The Hong Kong Federation of Youth Groups (HKFYG) Leadership Institute, the Programme themed 'Future Exploration is in the Hands of Youths', focused on three key social areas: 'Environment and Sustainable Development,' 'Promoting Sports for All,' and 'Elderly and Wellness.' It encourages young people to tackle social issues through creative solutions. The debut edition attracted an overwhelming response, receiving nearly 1,000 applications from students. After over 10,000 hours of diverse learning and mentorship over six months, more than 400 participants developed nearly 90 innovative solutions to drive social progress. Following rigorous rounds of competition, nine teams advanced to the finals held recently, where they presented their ideas to a panel of judges. Three winning teams were selected based on their solutions' effectiveness, innovation, scalability and their presentation skills. The Final Pitching Competition and Award Presentation Ceremony took place at Hang Seng Headquarters, with Eric Chan Sui-wai, Commissioner for Youth officiating as the Guest of Honor. He was joined by Diana Cesar, Executive Director and Chief Executive of Hang Seng Bank, Hsu Siu-man, Executive Director of the HKFYG and Grace Chan Man-yee, Chief Executive of the Hong Kong Council of Social Service. The event also brought together school representatives, mentors and over 400 students to witness the emergence of winning teams. Diana Cesar, Executive Director and Chief Executive of Hang Seng Bank, said, 'As Hong Kong's largest local bank, Hang Seng Bank is very pleased to leverage our connections and the expertise of our colleagues to empower youth in driving social innovation through this Programme, alongside our financial support. We hope this Programme encourages young people to engage with societal issues, broaden their horizons and ignite their interests in social innovation.' Hsu Siu-man, Executive Director of the HKFYG, remarked, 'Social innovation requires keen insight and the courage to change; every change begins with attention to issues and imagination for the future. I am delighted to see participants actively engage in the Programme, injecting new hope and possibility into society.' She also expressed her gratitude to Hang Seng Bank and other partnering organisations for their support in nurturing future leaders.' Fifteen-year-old students Ho Lok Ting, Law Hau Wing, Lo Sin Sum and Tsang Lok Yu, the Grand Award winners in the Junior Secondary Division, designed their 'Fully Biodegradable Gel' after learning about sea turtles harmed by plastic waste. The material, made from gelatin and agar, can package dry foods or even serve as shopping bags while decomposing harmlessly.' Law Hau Wing said, 'Traditional plastic linger for centuries as it is non-biodegradable and harmful to the environment. Our 'Fully Biodegradable Gel' disappears without a trace. We hope to collaborate with food manufacturers to bring the product to market.' The Senior Secondary Division Grand Award went to Fanling Kau Yan College, where five Form Four and Form Five students, Chen Tin Oi, Lee Yan Ue, Liang Ka Ki, Ng Ka Yin and Zou Tsz Ham designed a 'One School, One Elderly Centre' proposal to pair schools with elderly centres, fostering mutual learning and companionship. Inspired by an initiative in their sister school in Mainland China, the team developed a sustainable model including curricula, activities, and a B2B framework to scale the project in Hong Kong. A cross-university team from the Hong Kong University of Science and Technology, the University of Hong Kong, the Chinese University of Hong Kong, and the Hong Kong College of Technology, won the Tertiary Division Grand Award for 'Fruitful', a project repurposing apple pulp into leather-like material. Over the past six months, team members Cheng Hoi Kei, Ho Ka Hei, Lai In Ha, Wong Ngai Fung and Yau Ho Lun conducted in-depth research on this technology and overcame technical challenges. They aim to produce wallets, coasters and other accessories, reducing reliance on synthetic fabrics to promote sustainable development in Hong Kong. Each winning team will receive HK$20,000 and an opportunity for valuable career immersion experience at Hang Seng Bank. Audience-voted 'My Favourite Team' Awards were also presented, with each winning team receiving HK$5,000. For further details about the winning teams, please refer to the appendix. The second edition of the Programme will open for applications by the end of this year, encouraging more youngsters to drive social progress.
Yahoo
27-02-2025
- Business
- Yahoo
Biobased Biodegradable Plastic Market to Reach USD 15.6 Billion by 2035 Amid Rising Demand for Sustainable Solutions
The Biobased Biodegradable Plastic Market is set for a transformative decade, with increasing investments, regulatory support, and technological breakthroughs driving its rapid growth. As the world shifts towards a more sustainable future, bioplastics will play a critical role in reducing environmental impact and promoting a circular economy. NEWARK, Del, Feb. 27, 2025 (GLOBE NEWSWIRE) -- The global biobased biodegradable plastic market is undergoing a significant transformation, fueled by escalating environmental concerns and the implementation of stringent regulations aimed at reducing plastic pollution. Governments worldwide are enacting policies that ban or limit the use of conventional plastics, thereby accelerating the adoption of biodegradable and renewable alternatives. This shift is further supported by growing consumer awareness and demand for sustainable products, prompting industries to explore eco-friendly materials. In 2025, the market is projected to be valued at approximately USD 6.3 billion, with expectations to burgeon to around USD 15.6 billion by 2035, representing a compound annual growth rate (CAGR) of 9.5% during this period. This growth trajectory underscores the increasing viability and acceptance of biobased biodegradable plastics across various sectors, including packaging, agriculture, textiles, and automotive industries. Advancements in biopolymer processing and economies of scale are anticipated to further reduce production costs, enhancing the competitiveness of these sustainable materials. Discover key market opportunities – Request your sample report now! Poly Lactic Acid (PLA) and Polyhydroxyalkanoate (PHA) Drive Market Growth Amid Rising Demand for Sustainable Materials PLA and PHA are at the forefront of biobased biodegradable plastic innovations, offering sustainable alternatives to petroleum-based plastics. PLA, derived from fermented plant starch, has gained widespread acceptance in packaging and 3D printing due to its high biocompatibility and compostability. Market leaders are investing in research to enhance PLA's mechanical properties and thermal resistance, expanding its applications beyond conventional packaging. PHA, produced by bacterial fermentation of organic substrates, is emerging as a key biodegradable polymer with significant potential in medical, agricultural, and marine applications. Unlike PLA, PHA can degrade in natural environments, including oceans, making it an ideal solution to combat plastic pollution. Companies are ramping up PHA production capacities to meet the growing demand from eco-conscious industries and regulatory compliance requirements. Applications in Packaging and Agriculture Fuel Market Growth Packaging remains the dominant application segment in the Biobased Biodegradable Plastic Market, driven by increasing consumer awareness and stringent regulations against single-use plastics. Major food and beverage brands are transitioning to bioplastic packaging solutions to meet sustainability targets and reduce their carbon footprint. The emergence of home-compostable packaging materials is further driving market adoption. In agriculture, biobased biodegradable plastics are replacing conventional plastic mulching films, seed coatings, and plant pots. These materials enhance soil health, reduce plastic waste accumulation, and improve crop yield. The shift towards sustainable farming practices and government initiatives supporting biodegradable agricultural products are contributing to market expansion. Biobased Biodegradable Plastics Market: Drivers & Trends Key driving factors identified in the biobased biodegradable plastics market are the regulatory framework for safe waste disposal and management, implementation of environmental conservation initiatives by the government and various institutions, and efforts by manufacturers to reduce dependency on crude oil-derived products. Some of the restraining factors identified in the market are the low awareness of the consumers and the relatively low durability of these plastics as compared to conventional plastics. The key trends identified in the global biobased biodegradable plastics market include increasing utilization of these plastics in packaging applications, bottles and food service disposables Growth Drivers Cost Reductions Historically, the production of biobased biodegradable plastics has been more expensive than traditional plastics, primarily due to high raw material costs and limited production scales. However, continuous investments in research and development have led to process innovations and technological advancements, resulting in more efficient manufacturing methods. These improvements are driving down production costs, making biobased plastics more competitive in the market. As economies of scale are achieved and supply chains for renewable raw materials become more established, further cost reductions are anticipated, enhancing the economic feasibility of biobased biodegradable plastics. Advanced Waste-to-Bioplastic Conversion Innovations in waste management and biopolymer synthesis are enabling the conversion of organic waste into valuable bioplastics. Technologies such as microbial fermentation and chemical catalysis are being employed to transform agricultural residues, food waste, and other organic by-products into biopolymers like PHA. This approach not only provides a sustainable feedstock for bioplastic production but also addresses waste disposal challenges, contributing to a circular economy. The integration of waste-to-bioplastic technologies is expected to enhance resource efficiency and reduce the environmental impact associated with both waste management and plastic production. Corporate Commitments Will Accelerate Adoption A growing number of corporations are pledging to reduce their environmental footprints by incorporating sustainable materials into their products and packaging. Companies across various industries, including consumer goods, retail, and food services, are setting ambitious targets to transition to biodegradable and renewable plastics. These commitments are often driven by consumer demand for environmentally responsible products and the desire to comply with evolving regulatory frameworks. As major brands adopt biobased biodegradable plastics, their supply chains and economies of scale will likely influence broader market adoption, fostering innovation and investment in the sector. says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI). Access the Full Report on Market Trends and Projections Now! Key Takeaways from Cathode Binders Study: Biobased biodegradable plastic market to reach USD 15.6 billion by 2035, growing at a 9.5% CAGR. PLA and PHA are key drivers of market expansion. Packaging and agriculture remain dominant application segments. Cost reductions and technological advancements support broader adoption. Corporate commitments to sustainability will accelerate growth. Key Findings in the Global Biobased Biodegradable Plastic Market Study: Increasing government regulations favoring biodegradable materials Rising consumer demand for eco-friendly packaging Market value projected to reach USD 15.6 billion by 2035 Expanding applications in agriculture, packaging, and medical sectors Technological advancements in waste-to-bioplastic conversion Greater corporate commitments toward sustainability Shifts in the Biobased Biodegradable Plastic Market from 2020 to 2024 and Future Trends (2025 to 2035) Between 2020 and 2024, the biobased biodegradable plastic market experienced steady growth, primarily driven by heightened environmental awareness and initial regulatory measures. During this period, the market focused on developing and commercializing key biopolymers such as PLA and PHA, with significant applications in packaging and agriculture. Collaborations between research institutions and industry players facilitated technological advancements, improving the performance and cost-effectiveness of biobased biodegradable plastics. Future trends from 2025 to 2035 indicate accelerated growth, supported by advancements in material science, government policies promoting circular economy initiatives, and increased investments in bioplastic manufacturing. Innovations in biopolymer blending and bio-based composite materials are expected to enhance the mechanical properties and applicability of biodegradable plastics across a broader range of industries. The expansion of industrial composting and bioplastic recycling infrastructure will also play a crucial role in mainstream adoption, ensuring a sustainable end-of-life solution for biobased plastics. Unlock Growth Potential and Explore Market Opportunities With Our Comprehensive Industry Overview. Request Your Sample Now! Country Wise Analysis United States The United States is witnessing a robust expansion in the biobased biodegradable plastics sector, with an anticipated Compound Annual Growth Rate (CAGR) of 22.0% from 2025 to 2035. This surge is primarily attributed to heightened environmental awareness among consumers and proactive government policies aimed at reducing plastic waste. The packaging industry, in particular, is a significant contributor, accounting for over 36.8% of the total demand in 2022. Major corporations are increasingly adopting sustainable packaging solutions, further propelling market growth. United Kingdom In the United Kingdom, the biobased biodegradable plastics market is projected to grow at a CAGR of 6.2% between 2024 and 2034. This growth is driven by stringent environmental regulations and a strong consumer shift towards sustainable products. The UK's commitment to reducing single-use plastics has led to increased adoption of biodegradable alternatives across various sectors, including food packaging and agriculture. European Union The European Union (EU) stands as a frontrunner in the adoption of biobased biodegradable plastics, with an expected CAGR of 21.5% from 2025 to 2035. This growth is bolstered by the EU's stringent environmental policies, such as the 2021 Single-Use Plastics Directive, which has created a substantial demand for biodegradable plastics in sectors like food packaging, agriculture, and consumer goods. Countries like Germany, France, Italy, and the UK significantly contribute to both the production and consumption of these materials, making Europe one of the most dynamic markets globally. Japan Japan's biobased biodegradable plastics market is set to expand at a CAGR of 26.5% through 2033. The country's rapid industrialization, urbanization, and growing environmental concerns have led to the adoption of strict laws aimed at eliminating conventional plastics. This transition is evident in industries such as packaging, agriculture, and consumer goods, where businesses are increasingly shifting towards compostable and biobased materials. South Korea South Korea emerges as a rapidly advancing market, projecting substantial growth with an impressive 22.1% CAGR expected by 2034. The government's high aspirations for plastic recycling and the promotion of sustainable materials have significantly influenced this growth trajectory. The flourishing e-commerce industry further drives the demand for biodegradable packaging solutions, especially in the online retail and food delivery sectors. Competitive Landscape in the Biobased Biodegradable Plastic Market Major players include NatureWorks, BASF, Total Corbion PLA, and Danimer Scientific Recent developments in bio-based polymer production technologies Recent Developments Companies such as NatureWorks, BASF, and Total Corbion PLA are expanding their production capacities. New product launches in home-compostable packaging solutions. Strategic partnerships between packaging firms and bioplastic manufacturers to enhance supply chain efficiency. Explore Polymers & Plastics Insights: Biobased Biodegradable Plastic Market Segmentation By Product Type: Polyester Starch blends Poly lactic acid (PLA) Cellulose Polyhydroxyalkanoate (PHA) Other biobased biodegradable plastic By Application: Packaging Fibres Healthcare Agriculture Others By Region: North America Latin America Western Europe Eastern Europe East Asia South Asia Pacific Middle East and Africa Have a Look at Related Research Reports of Chemicals & Materials Domain: The estimated value of the global bio-plastic market is around USD 16.8 billion in 2025. It is anticipated to reach USD 98 billion by 2035 growing at an impressive CAGR of 19.3% during the forecast period. The biobased biodegradable plastics market value is expected to burgeon to reach approx USD 15.6 billion in 2035 representing a compound annual growth rate (CAGR) of 9.5% approximately to the market in 2025, the market is estimated to be worth USD 6.3 billion in 2025. Demand for conductive plastics is anticipated to reach USD 4.5 billion in 2025. Over the assessment period (2025 to 2035), the market is projected to expand at a CAGR of 8.3% and attain value of USD 10.1 billion by the end of 2035. Our chemicals and materials industry experts opine that automotive bioplastics providers can expect a CAGR of 10.7% through 2033, with a present valuation of USD 761.06 million in 2023. The Engineering Plastic Market is expected to be worth USD 1,08,000.92 million in 2023. The valuation was USD 1,01,000.57 million in 2022. The Cellulose Derivative market is projected to expand from USD 6,776.6 million in 2025 to USD 11,466.1 million by 2035, reflecting a compound annual growth rate (CAGR) of 5.4% over the forecast period. The Cellulose Ether And Derivatives Market is projected to be worth USD 9.0 billion in 2024. The market is anticipated to reach USD 22.6 billion by 2034. The plastic fasteners market is anticipated to be valued at USD 7,413.0 million in 2025. It is expected to grow at a CAGR of 9.8% during the forecast period and reach a value of USD 18,880.7 million in 2035. The chemical and textile industries are the largest consumers of anti-static fibers in the world, and their dominance is expected to continue through 2022 to 2032. The global polyester resin dispersion market size is anticipated to reach a valuation of USD 7,635.4 million by 2023. It is projected to witness a CAGR of 4.8% in the estimated time period from 2023 to 2033. About Future Market Insights (FMI) Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise. Contact Us: Future Market Insights Corporate, 200 Continental Drive,Suite 401, Newark, Delaware - 19713, USAT: +1-347-918-3531For Sales Enquiries: sales@ Twitter| Blogs | YouTubeSign in to access your portfolio
