Biodegradable Films Market Is Anticipated To Expand At A CAGR Of ~3.6%, During 2021 – 2031

Plastic proves its significant place in the packaging due to its cost-effectiveness and durability. But rising intolerance to the plastic for single-use packaging is creating the need for highly sustainable solutions. The packaging industry is making efforts to introduce eco-friendly and yet effective packaging solutions to end-users.

Biodegradable films, aluminum foil and paper-based packaging are some of the newer solutions for sustainable packaging to which industry giants are looking to opt for. The packaging market is expected to witness the higher demand for biodegradable films in the foreseeable future. Both types are 100% compostable. Due to the special bio-additives in the degradable resin, the film decomposes to water, bio-compost, and carbon-dioxide.

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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: Dynamics

The 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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Regional Analysis Includes-

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East & Africa (MEA)

The global biodegradable films market has been segmented into material, application, thickness, and end-user industry.