What are the Historical Developments and Current Growth Metrics of the Biodegradable Films Market?
The biodegradable films market has seen considerable growth due to a variety of factors.
• In recent times, there has been a significant expansion in the market size of biodegradable films. The market value is projected to rise from $1.35 billion in 2024 to $1.45 billion in 2025, experiencing a compound annual growth rate (CAGR) of 7.3%. The growth observed in the historic period can be tied to challenges in cost and technology, the launch of pilot projects, early consumer education endeavours, initiatives to minimize waste, and an increase in eco-friendly habits.
What Is The Projected Growth Of The Biodegradable Films Market?
The Biodegradable Films market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for biodegradable films is anticipated to witness robust expansion in the upcoming years, reaching $1.95 billion by 2029 with a compound annual growth rate (CAGR) of 7.7%.
This promising growth during the forecast period can be credited to enhancements in cost competitiveness, expansion into global markets, investments in R&D, increased usage in agricultural applications, and concerns over global waste management. Major forecasting period trends include a transition from plastic to eco-friendly materials, environmental concern and legislation, breakthroughs in material science, demand surges from the food packaging sector, and a focus on a circular economy.
What Are The Key Drivers Fueling Growth In The Biodegradable Films Market?
The biodegradable film market is predicted to expand due to the increasing global bioplastics industry. Bioplastic is a kind of polymer, produced as an end product using natural or renewable resources. The usage of bioplastics in biodegradable films aims to take the place of single-use plastics given their renewable and biodegradable nature. For instance, data from reports published in December 2023 by the Europe based association European Bioplastics (EUBP), revealed that the production capacity of bioplastics is likely to witness a significant escalation from about 2.18 million metric tons in 2023 to roughly 7.43 million metric tons by 2028. Thus, the upsurge of the bioplastics industry globally is fuelling the expansion of the biodegradable film market.
What Are The Principal Market Segments In The Global Biodegradable Films Industry?
The biodegradable films market covered in this report is segmented –
1) By Type: Polylactic Acid (PLA), Starch Blends, Biodegradable Polyesters, Polyhydroxyalkanoates (PHA), Other Types
2) By Application: Bags, Mulch Films, Wrapping Films, Liners, Other Applications
3) By End-Use: Food And Beverage, Healthcare, Personal Care And Cosmetics, Agriculture, Metal, Glass, Other End-Users
Subsegments:
1) By Polylactic Acid (PLA): PLA Homopolymers, PLA Copolymers
2) By Starch Blends: Thermoplastic Starch (TPS), Starch-Based Composites
3) By Biodegradable Polyesters: Polybutylene Succinate (PBS), Polycaprolactone (PCL), Other Biodegradable Polyesters
4) By Polyhydroxyalkanoates (PHA): Short-Chain PHAs, Medium-Chain PHAs
5) By Other Types: Cellulose-Based Films, Proteins And Other Natural Polymers
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Which Emerging Market Trends Are Altering The Biodegradable Films Industry?
The rise of technological innovations is a primary trend emerging in the market for biodegradable films. Many leading corporations in the industry are adopting state-of-the-art technology in their product line to maintain their market share in the biodegradable films sector. For instance, in September 2022, ICL Group, a globally recognized manufacturing company based in Israel, introduced its novel biodegradable coated fertilizer technology, known as eqo.x. This cutting-edge technology is meant to improve controlled release fertilizers (CRF) for broad acre farming. The chief objective of this introduction is to offer a sustainable solution that optimizes crop productivity while diminishing the environmental footprint.
Who Are the Key Players In The Biodegradable Films Market?
Major companies operating in the biodegradable films market include:
• BASF SE
• Futamura Chemical Co. Ltd.
• Taghleef Industries LLC
• BioBag International AS
• Plascon Group
• Avery Dennison Corporation
• Walki Group Oy
• Bi-Ax International Inc.
• Cortec Corporation
• Clondalkin Group
• Groupe Barbier
• Kingfa Sci & Tech Co. Ltd.
• Tipa Corp Ltd.
• Novamont SpA
• Sigmund Lindner GmbH
• Organix AG
• Armando Alvarez Group
• Amtrex Nature Care Pvt Ltd.
• Solos Polymers Pvt. Ltd.
• ENVIPLAST
• Xinle Huabao Medical Products Co. Ltd.
• Tilak Polypack Private Limited
• EcoBharat
• Polynova Industries Inc.
• Magical Film Enterprise Co. Ltd.
• Chintec Limited
• RKW Group
• Dow Chemical Company
• Plastiroll Oy
• Mondi Group
• Innovia Films Ltd.
• Toray Industries Inc.
• Mitsubishi Chemical Corporation
• NatureWorks LLC
• Danimer Scientific Inc.
• Total Corbion PLA
• Synbra Technology BV
What Are The Regional Insights Into The Biodegradable Films Market?
Asia-Pacific was the largest region in the biodegradable films market share in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the biodegradable films market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
