Biodegradable films Market Size
Biodegradable films Market to surpass USD 1.6 Billion by 2030, which is valued at 0.8 billion in 2019 at a compound annual growth rate of 6.70%
Biodegradable films are organic plant and animal mulching products, which provide a range of advantages such as weed control, soil structure preservation, and plant prevention from soil pollution. Mulching is a method that covers the dirt surface around crops for optimal growth conditions. The use of biodegradable mulch films is a sustainable choice for managed cultivation on restricted and arable soil with limited water sources. Biodegradable mulch films help improve crop quality by reducing land disintegration, supplementary usage, and increasing soil temperature without any negative impact on soil.
Market Highlights
Biodegradable films Market is expected to project a CAGR of 6.70% during the forecast period, 2019-2030
According to the report, increasing the growing understanding of plastic waste and its adverse environmental effects is one of the key drivers of business growth. Also, the market growth of biodegradable films leads to factors such as rising demand from the food packaging industry and high demand from the agriculture and horticultural industry.
Biodegradable filmsMarket: Segments
The Fruits & Vegetable segment is anticipated to register XX% of the volume share and is expected to grow at the highest CAGR.
The global biodegradable films market is segmented by Crop Type into Grains & Oilseeds, Flowers & Plants, and Fruits & Vegetables.The simple implementation due to the perennial aspect of the crop can be attributed to this high growth.
Thermoplastic starch accounted for XX% of the global volume in 2019 and is anticipated to grow at the highest CAGR.
The global Biodegradable films market is segmented by Raw Material into AAC, PLA, PHA, and TPS. Low prices and fast supply of starch are responsible for the high demand for this segment. Once it is deposited in the soil, thermoplastic starch degrades into harmless materials. The increased demand for biodegradable materials manufactured from renewable resources was heightened by environmental considerations regarding traditional synthetic polymers used in food manufacturing.
Market Dynamics
Drivers
Greater demand
The production of food and beverage packaging products is rendered increasingly by polylactic acid (PLA), starch-based plastics, and polyhydroxyalkanoates (PHAs), due to easy disposal process, degradability, and recycling process. As part of the strategy for branding and consumer acquisition, businesses have embraced Green Package Label and therefore increased the requirement for biodegradable films for the application of food packs and compostable bags.
Environmental concerns
The global biodegradable mulch films market is driven primarily by growing environmental issues and demand for biodegradable and eco-friendly mulch films. Increasing demand for better crop yields in the agriculture sector is also a major player in the global biodegradable mulch market. Greenhouses are also experiencing greater demand for biodegradable mulch films as they cultivate plants under controlled environmental conditions.
Restraints
High installation cost
One of the important factors restricting their market growth, particularly in developing countries is the high cost of installing biodegradable mulch films. Even developing countries such as India, the market has tremendous potential, but farmers are concerned with the high initial cost. Also, the machines for leveling and shaping the earth and using biodegradable mulch films further multiply the cost. The average land ownership per farmer slowly decreases as the population increases. This affects farmers' purchasing power parity and reduces the marketing of biodegradable mulch films. Thus high mulching investments, particularly in developing countries, are a restrictive factor for the biodegradable mulch film market.
Global Biodegradable films Market: Regions
Asia Pacific was the largest market accounting for XX% of total market volume share in 2019
Asia Pacific led the global market for biodegradable mulch films with XX% of the overall demand in 2019. With fast industrialization and urbanization, China has been the leading consumer leading to an improved standard of living and increasing demand for food products. In 2019 the market for goods in Europe amounted to USD XXXX million. Europe is expected to see modest growth in the coming years as eco-friendly goods are gradually adopted. These mulch films do not necessitate waste disposal and are a viable alternative and demanding mulching in the area.
The global biodegradable films market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, NewZealand, Australia, and Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa
Global Biodegradable films market: Key Players
- BASF SE (Germany)
Company Overview, Business StrategyKey Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Taghleef Industries (UAE)
- Kingfa Sci. & Tech. Co., Ltd. (China)
- Futamura Chemical Co. Ltd. (Japan)
- Walking Group Oy (Finland)
- Biobag International AS
- AB Rani Plast Oy.
- AEP Industries Inc.
- British Polythene Industries PLC
- Al-Pack Enterprises Ltd.
- Novamont S.Pa.
- Other prominent players
The global Biodegradable films market report also contains analysis on:
Biodegradable films Market Segments
- By croptype
- Grains & Oilseeds
- Flowers & Plants
- Fruits & Vegetables
- Others
- raw material
- AAC
- PLA
- PHA
- TPS
- Biodegradable films Market Dynamics
- Biodegradable films Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
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