The market for biodegradable films is anticipated to expand at a CAGR of 5.6%. By 2032, the market value is anticipated to have grown from US$ 1,040.1 million in 2022 to US$ 1.7 billion. The market for biodegradable films, which was valued at US$ 1,000.5 Million in 2021, is expected to rise by 5.4% year over year in 2022.
As the environmental harm caused by single-use plastics becomes better understood, sales of biodegradable films are expected to rise. Plastic is one of the most widely used packaging materials because it is affordable and long-lasting, but its harmful impacts on the environment are becoming an issue. Manufacturers in the packaging sector are providing environmentally friendly packaging choices to gain a competitive advantage.
Industry goliaths are aiming to choose some of the more innovative solutions for sustainable packaging, like biodegradable films, aluminium foil, and paper-based bundling. Soon, biodegradable films should experience increased acceptance in the packaging market.
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The two sorts are 100 percent compostable. Because of the unique bio-added substances in the degradable gum, the film decays to water, bio-fertilizer, and carbon-dioxide. Biodegradable Films Market is assessed at US$ 1.7 Billion in 2032, flood at a lively 5.6% CAGR during the evaluation time frame 2022-2032.
The Biodegradable Films Market Research Report is an expert resource that gives dynamic and measurable bits of knowledge into local and worldwide markets. It incorporates an exhaustive investigation of the ongoing situation to shield the patterns and prospects of the market. Biodegradable Films Market Research reports additionally track future advances and improvements.
The regulatory authorities across the globe developed international standards for compostability which includes ASTM 6400 (in America), AS 4736 (in Australia), En13432 (in Europe), and Green Pla (in Japan). The manufacturers have to comply with these standards to market their biodegradable films in different regions.
Global Biodegradable Films Market: DynamicsThe Agricultural Sector to Boost the Demand for Biodegradable Mulch Films
The mulch films developed from the biodegradable films are gaining traction across the globe. Biodegradable films are increasing by agriculture sector owing to its temperature maintaining, speed up ability in germination and cultivation cycles. Furthermore, rising demand in the agricultural sector to improve crop in suitable conditions is a key driver for the global market for biodegradable films.
Capacity Expansion by Manufacturers to Leverage Lucrative Opportunity from Biodegradable Films Market
The packaging films manufacturers are focusing on the expansion of biodegradable films offerings owing to increased demand from the end-users.
- In January 2020, Monta, a German manufacturer and suppliers of self-adhesive tape, launched a new self-adhesive tape, monta biopack®.
- In 2018, Zummit Plastics, a manufacturer of high-end machine and hand application stretch film products, expanded its PE biodegradable films production.
Additionally, organizations and universities are researching on the development of biodegradable films from the new materials to offer more options to manufacturers. In January 2020, the University of New South Wales discovered an innovative way to turn banana plantation waste into biodegradable packaging material.
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Global Biodegradable Films Market: Geographical Outlook
The popularity of biodegradable films in North America and Europe is expected to gaining traction owing to local governments push toward sustainability and manufacturers increased research and development activities. The ban on plastic and consumers’ acceptance for biodegradable packaging options are expected to speed up the growth of the biodegradable films market in the coming decade.
Japan, China and India are planning to reduce 100% of single-use plastic by the end of 2025, which is expected to boost the demand for biodegradable films in the Asia Pacific region. Latin America and Middle East & Africa regions witnessed sluggish growth for biodegradable films market in the past five years, which is projected to accelerate in the next decade.
Global Biodegradable Films Market: Key Players
Some of the key players operating in the global biodegradable films market are as follows:
- Taghleef Industries Group
- Cortec Corporation
- Clondalkin Group
- Futamura Group
- Storopack, Inc.
- Transilwrap Co., Inc.
- Accredo Packaging, Inc.
- POLYNOVA Industries Inc.
- Tipa Corporation
- Plastiroll Oy Ltd.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on biodegradable films market segments and geographies.
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Global Biodegradable Films Market: Segmentation
The global biodegradable films market has been segmented into material, application, thickness, and end-user industry.
On the basis of material, the global biodegradable films market has been segmented into:
- Bio-LDPE (Low Density Polyethylene)
- Bio-MDPE (Low Density Polyethylene)
- Bio-HDPE (Low Density Polyethylene)
- Bio-based PLA (Polylactic Acid)
- Others
On the basis of application, the global biodegradable films market has been segmented into:
- Bags
- Mulch Films
- Wrapping Films
- Liners
- Others (Sheets, etc.)
On the basis of thickness, the global biodegradable films market has been segmented into:
- Up to 1 mil
- 1-3 mil
- Above 3 mil
On the basis of end-user industry, the global biodegradable films market has been segmented into:
- Food & Beverages
- Healthcare
- Personal Care & Cosmetics
- Agriculture
- Waste Management
- Others
On the basis of Region, the global biodegradable films market has been segmented into:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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