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A recent report published by Infinium Global Research on biodegradable films market provides in-depth analysis of segments and sub-segments in the global as well as regional biodegradable films market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional biodegradable films market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global biodegradable films market.
Biodegradable films are a great alternative to commercial petroleum-based films as it improves the quality of food, shelf life & safety. These films are plastic-based having additives contained during the manufacturing process. Mostly these additives are enzymes that enable the plastic to disintegrate. Bacteria/fungi can easily decompose these films with or without oxygen without any environmental impact. These films can be prepared using polysaccharides, lipid materials, or proteins. In these innovative strategies is the inclusion of antimicrobial/antioxidant agents in films, which can be used as packaging. To improve food safety and shelf life these compounds are incorporated into food packaging materials. The biodegradable film turns into smaller pieces of plastic when it breaks down. Thus, it needs specific conditions to disintegrate, like certain temperatures or sunlight to fully biodegrade.
Demand for biodegradable packaging to reduce waste is anticipated to increase in the eco-friendly market. Rising concern about environmental problems brought on by the accumulation of synthetic containers that aren't biodegradable has resulted in increased interest in using biodegradable polymers to create new materials. Biodegradable films are used to improve shelf-life, safety, and food quality which is fueling the growth of the market. Also, the factors like high demands from the agriculture and horticulture sector & constantly increasing demands from the food packaging industry are contributing to the biodegradable films market growth. Biodegradable packaging reduces waste and resource consumption which boosts the global market. Mulch films are commonly used in crop production systems due to their immense agronomic benefits. The high costs associated with the production of biodegradable films are impeding market growth. However, the high cost of biodegradable films as compared to conventional plastic films hampers the market growth. Although, the growing awareness of plastic waste and its impact on the environment is providing growth opportunities for the biodegradable films market.
Asia-Pacific is expected to maintain its lead and occupy the top spot in the world market for green packaging throughout the forecast period as increasing population density has increased the consumption of convenient meals and drinks. Additionally, the regional market is expected to grow as a result of the green packaging producers in South Korea, Japan, India and China placing a greater emphasis on biodegradable packaging options, the ban on conventional plastic bags & global warming initiatives in response to rising consumer environmental concerns. It is easier to get the raw materials required to make bags, boxes, cartons, and other packaging equipment in South-East Asia. Moreover, the United Kingdom is leading in Europe, wherein the demand for biodegradable packaging has been increasing. The increased awareness about the sustainability factors of product packaging and recent government initiatives are creating a favorable market situation in the country.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 1,420.97 Million |
| Market Size by 2030 | USD 2,514.82 Million |
| Growth Rate from 2023 to 2030 | CAGR of 6.49% |
| Largest Market | Asia-Pacific |
| No. of Pages | 180 |
| Market Drivers |
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| Market Segmentation | By Type, and By Application |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global biodegradable films market covers segments such as type, and application. On the basis of type, the sub-markets include starch blends, biodegradable polyester, PCL (polycaprolactone), PBAT (polybutylene adipate terephthalate), PBS (polybutylene succinate), PHAS (polyhydroxyalkanoates), and PLA (polylactic acid). On the basis of application, the sub-markets include food & beverage packaging, mulch films, agriculture & horticulture, cosmetic & personal care products, industrial packaging, and others.
The report provides profiles of the companies in the market such as Walki Group Oy, BioBag Americas, Inc., TAGHLEEF INDUSTRIES GROUP, Grafix Plastics, Polyplex, Polystar Plastics Ltd, Accredo Packaging, Inc., BASF SE, Kingfa SCI. & TECH. CO., LTD., and Plascon Packaging LTD..
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the biodegradable films market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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