The biodegradable film market is anticipated to see significant growth between 2021 and 2028. According to Data Bridge Market Research's analysis, the market is predicted to expand at a CAGR of 5.2% from 2021 to 2028 and reach USD 21,270.50 million. The need for biodegradable films is being driven by the increased awareness of the health risks connected with plastic film use.
Biodegradable films deteriorate naturally over time under the impact of environmental factors such moisture, oxygen, microorganisms, and sunshine. These films were developed to counter issues like air pollution and landfill growth brought on by plastic film.
The need for biodegradable film is increasing due to the fluctuating price and long-term availability of fossil fuels. The demand for biodegradable film is being hampered by its relative higher production cost as compared to plastic films. The biodegradable film market is benefiting from the expansion of the sustainable film industry. When certain environmental requirements are not satisfied, biodegradable film is unable to breakdown, which poses a problem for the market for biodegradable film.
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Global Biodegradable Film Market Scope and Market Size
The biodegradable film market is segmented on the basis of the type, product type, crop type and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The biodegradable film market is divided into categories depending on type, including PLA, starch blends, biodegradable polyester, PHA, soy-based, cellulose-based, lignin-based, and others. Because starch blends biodegradable film has outstanding film qualities and very few negative environmental consequences, it is leading the biodegradable film market in 2021.
- The biodegradable film market is divided into oxo- and hydro-biodegradable segments based on the product type. Oxo-biodegradable goods are more readily and cost-effectively accessible to customers, and as a result, they are leading the biodegradable film market in 2021.
- On the basis of crop type, the biodegradable film market is segmented into fruits & vegetables, grains & oilseeds, flowers & plants and others. In 2021, the grains & oilseeds segment is expected to dominate the biodegradable film market because of the excellent food contact compliance and exclusive strength and stability of these biodegradable films which boosts its demand in the forecast year.
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Competitive Landscape and Biodegradable Film Market Share Analysis
The major players covered in the report are:
BASF SE, Biogeneral, Plascon Group, TAGHLEEF INDUSTRIES GROUP, Shreejistretchfilm, Polyplex, STOROPACK HANS REICHENECKER GMBH, Grafix Plastics, Profol GmbH, Walki Group Oy, BioBag Americas, Inc., AVERY DENNISON CORPORATION, Polystar Plastics Ltd, TIPA LTD, Cortec Corporation, BI-AX International Inc, Futamura Group, Trioplast Industrier AB, Poysha Packaging Private Limited, Layfield Group. Ltd., Accredo Packaging, Inc., Paco Label, Brentwood Plastics, Inc., Novamont S.p.A., PLASTIKA KRITIS S.A. among other domestic players.
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DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches and agreements are also initiated by the companies’ worldwide which are also accelerating the biodegradable film market.