Biodegradable Films Market - Driven by Increasing Demand for Green House Application

Biodegradable Films Market - Driven by Increasing Demand for Green House Application

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Biodegradable Films Market accounted for US$ 1.2 billion in 2020 and is estimated to be US$ 2.1 billion by 2029 and is anticipated to register a CAGR of 6.2%

The report "Global Biodegradable Films Market, By Material (Bio-LDPE (Low Density Polyethylene), Bio-MDPE (Low Density Polyethylene), Bio-HDPE (Low Density Polyethylene), Bio-based PLA (Polylactic Acid), and Others), By Thickness (Up to 1 mil, 1-3 mil, and Above 3 mil), By Application (Bags, Mulch Films, Wrapping, Films Liners, and Others (Sheets, etc.)), By End-user (Food & Beverages, Healthcare, Personal Care & Cosmetics, Agriculture, Waste Management, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

·         In January 2020, Monta, a German producer and suppliers of self-adhesive tape, introduced a new self-adhesive tape, monta biopack.

·         Universities and organizations are researching on the development of biodegradable films from the new materials to provide more options to manufacturers. In January 2020, the University of New South Wales introduced an innovative way to recycle banana plantation waste into biodegradable packaging material.

Analyst View:

Biodegradable films are growing by agriculture sector due to its temperature maintaining, speed up capability in germination and cultivation cycles. The mulch films developed from the biodegradable films are gaining traction across the world. Additionally, rising demand in the agricultural sector to improve crop in appropriate conditions is a key factor for the growth of the global biodegradable films market. Rising demand in greenhouse application along with increasing environmental concerns about synthetic counterparts is expected to boost the market growth in the coming years. Rising population along with a shrinking agricultural land due to the rapid urbanization and industrialization has forced farmers to expand the productivity. Several benefits offered by these films, such as enhancing crop yield by inhibiting weed growth, lower environmental impact, maintaining soil moisture levels and temperature, are projected to impact their demand during the forecast period. Moreover, favourable government regulations concerning the usage of eco-friendly products, particularly in Europe and North America regions, is expected to have a positive impact on the global market growth over the forecast period.

Key Market Insights from the report:        

The global biodegradable films market accounted for US$ 1.2 billion in 2020 and is estimated to be US$ 2.1 billion by 2029 and is anticipated to register a CAGR of 6.2%. The market report has been segmented on the basis of material, thickness, application, end-user, and region.

·         By material, the global biodegradable films market is segmented into Bio-LDPE (Low-Density Polyethylene), Bio-MDPE (Low-Density Polyethylene), Bio-HDPE (Low-Density Polyethylene), Bio-based PLA (Polylactic Acid), and Others. Bio-based PLA biopolymer films segment accounted for the maximum in 2019, owing to its widespread applications in the packaging and food industry. They are used in food packaging, disposable tableware, compost bags, and loose-fill packaging.

·         By thickness, the target market is segmented into up to 1 mil, 1-3 mil, and above 3 mil

·         By application, the target market is classified into bags, mulch films, wrapping, films liners, and others (sheets, etc.). Mulch film segment is driving the growth of the target market due to its extensive use in agricultural activities.

·         By end-user, the food & beverages segment accounted for the dominate revue share for the target market share. Growing demand for bio-based food packaging materials mostly due to stringent legislations laid by EPA and FDA coupled with rising consumer awareness regarding the biodegradable product will influence the industry size over the forecast period.

·         By region, In North America and Europe, the popularity of biodegradable films is projected to gaining traction due to local governments drive toward sustainability and increased research and development activities by manufacturers. The ban on plastic and consumer preference towards biodegradable packaging options are anticipated to speed up the growth of the biodegradable films market throughout the forecast period.

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Competitive Landscape:

The prominent player operating in the global biodegradable films market includes Taghleef Industries Group, Cortec Corporation, Clondalkin Group, Storopack, Inc., Futamura Group, Inc., Accredo Packaging, Inc., POLYNOVA Industries Inc., Transilwrap Co., Tipa Corporation, and Plastiroll Oy Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.


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