Anything that can be degraded into its constituent elements is called degradable. In some cases, the process of degradation happens naturally due to rain, sunlight, and atmospheric pressure over time. There are some biological factors such as microorganisms which also play a role in it. There are those products too which can never be degraded such as plastic which are polluting or contaminating our ecosystem. But now we have developed a substitute for plastic which is known as bio-degradable plastic.
For aspiring entrepreneurs, this is a great opportunity to delve into Biodegradable Plastic Bag Manufacturing. This is one such product that will certainly boom over the next decade or so as biodegradable plastic bags doesn’t harm nature and it is inevitable that they will replace polythene bags in the future.
What is Biodegradable Plastic Bag?
Polylactic Acid (PLA) is a polymer that has the potential to replace polyethylene. PLA is produced by fermenting plant wastes like corn, potato, sugarcane, etc, and due to the same reason it is also called ‘Polylactide’. PLA possesses many good properties which makes it a desirable product for use in sectors such as agriculture, Biomedicine, Packaging, automobile, etc. Although one thing should be kept in mind, despite being a bio-degradable polymer, it takes many years to degrade completely.
Market Potential of Biodegradable Plastic
It is no secret that the days of plastic bags are numbered and in fact, many countries around the world have already put a strict ban on the use of plastic bags. But this ban will create a void because the requirement of cheap carry bags for everyday usage will still exist. This is a clear indication of how important biodegradable plastic bag manufacturing is going to be.
In 2019, the market valuation of biodegradable plastic was at $3.27 billion which has doubled up to $6.12 billion by now in 2023. As per industry experts, these biodegradable plastic bags are expected to have a CAGR of 15.1% between 2020 to 2025. The government of many countries around the world has either banned or are in consideration of banning single-use plastic bags. This makes it a very good time to start biodegradable plastic bag manufacturing because it is eco-friendly and harmless for our planet.
The global market was valued at USD 3.27 billion in 2019 and is expected to reach USD 6.12 billion by 2023 at a CAGR of 15.1 % from 2020 to 2025. Governments across the world are prohibiting the use of single-use plastics and this is coupled with the growing awareness about the harmful and non-degradable nature of plastic. This makes it a very high potential minimal-risk business and it is only going to get bigger and better with time.
Usage of Biodegradable Plastic
Disposable plastic has many good chemical properties as mentioned earlier. So this also makes it usage friendly. Here are some popular uses of biodegradable plastics that you should know about.
The manufacturing of biodegradable plastic bags is the most common product built with biodegradable plastics. These bags can be used for grocery carrying, Food Storage, Garbage bags, etc.
The use of biodegradable plastic is also increasing in the packaging of goods and transportation. It is usually used in the form of consumer goods.
Financial Investment
A biodegradable Plastic Bags Manufacturing plant requires land space of almost 2,000 – 3,000 square feet. This space is enough for raw materials, storage, production, packaging, storage, and administrative work. Apart from this one requires space for the power supply of 40 Kw, generator, and other random utilities. The requirement of manpower is also essential for operating. The number of staff can vary depending on the scale of manufacturing. You can learn about government schemes and loans available by presenting a bankable project report of your business. You can seek the Institute of Industrial Development to create a bankable project report that will help you curate a report that serves your business interests.
Conclusion
There is a lot of plastic garbage settling down on the ocean beds which has hampered the ecological balance of oceans. This is changing the natural habitats of sea creatures, and those who are unable to adapt are already on the verge of extinction. Plastic is a threat to the earth and there is no doubt about it. As an entrepreneur, you can not only create a business that has low risk, reasonable investment, and also help to procure the environment from plastic.
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