Polyhydroxy Butyrate Market 2023: Exploring the Potential of a Sustainable Alternative to Petroleum-based Plastics
Global Polyhydroxy butyrate (PHB) Market to Grow Moderately over 2023 Market Synopsis: it is expected to grow at a higher CAGR of 18.69% in the global market to account for the higher market value of approximately USD 121 million by the end of the forecasted period from 2021 to 2028 in the global market Polyhydroxy butyrate (PHB) Market is a biodegradable and biocompatible polymer produced by microorganisms as a storage material. It has a wide range of applications in various industries such as biodegradable packaging, biomedical products, agriculture, and textiles. The market for PHB is expected to grow in the future due to increasing demand for eco-friendly and sustainable products, as well as advancements in PHB production technology. However, the high production cost and limited availability of PHB are challenges for the market’s growth. The rising demand for PHB from the food & beverage industry is an important factor favoring the expansion of the polyhydroxy butyrate (PHB)