Dublin, June 20, 2023 (GLOBE NEWSWIRE) -- The "Biodegradable Films Market: Global Industry Analysis, Trends, Size, Share and Forecasts to 2030" report has been added to ResearchAndMarkets.com's offering.
The revenue generated by the market was USD 1,420.97 million in 2022 and is expected to reach USD 2,514.82 million in 2030, with a CAGR of 6.49% during the forecast period 2023-2030.
The study on the biodegradable films market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.
The biodegradable films market refers to the industry that involves the production, distribution, and utilization of films or sheets that are designed to degrade naturally over time, without causing harm to the environment. These films are typically made from renewable resources or compostable materials and are considered to be more eco-friendly alternatives to traditional plastic films.
Increasing environmental awareness, concern about plastic pollution and a growing consumer demand for eco-friendly products are driving the biodegradable films market. The eco-friendly market is expected to witness a surge in demand for biodegradable packaging as a solution to reduce waste.
The growing awareness and concerns surrounding the environmental issues caused by non-biodegradable synthetic containers have led to a heightened interest in utilizing biodegradable polymers to develop new materials. In particular, the use of biodegradable films has gained traction due to their ability to enhance shelf-life, ensure safety, and maintain food quality.
Starch-Based Films Are the Fastest-Growing Segment in the Type Segment of the Biodegradable Films Market
Starch-based biodegradable films are a type of biopolymer film made from starch, a renewable and readily available natural polymer derived from plant sources such as corn, wheat, or potato. These films offer environmentally friendly alternatives to conventional plastic films as they possess the ability to break down and degrade under natural conditions.
Starch-based biodegradable films are extensively used in the packaging industry, particularly for food packaging. These films provide an excellent barrier against moisture and oxygen, helping to preserve the freshness and quality of packaged food products. They can be used for applications such as wrappers, pouches, bags, and trays.
The Asia-Pacific Region Holds a Significant Share of the Global Biodegradable Film Market Share.
Asia-Pacific is home to several densely populated countries facing significant environmental challenges, such as plastic pollution and waste management issues driving the demand for biodegradable films as a sustainable packaging solution. Consumers in Asia-Pacific are becoming more environmentally conscious and are seeking products that align with their sustainability values.
This shift in consumer preferences towards eco-friendly options is driving the demand for biodegradable films. There is also a growing interest from both local and international companies to invest in the biodegradable films market in the Asia-Pacific region.
Market Dynamics
Drivers
- The growing demand from the food packaging industry driving the growth of the market.
- The growing awareness regarding plastic waste and its adverse effects on the environment propels the market growth.
Restraints
- The high cost of biodegradable films as compared to conventional plastic films hampers the market growth.
Opportunities
- The growing awareness of plastic waste and its impact on the environment is providing growth opportunities for the biodegradable films market.
Segment Covered
The global biodegradable films market is segmented on the basis of type, and application.
by Type
- Starch Blends
- Biodegradable Polyester
- PCL (Polycaprolactone)
- PBAT (Polybutylene adipate terephthalate)
- PBS (Polybutylene succinate)
- PHAs (Polyhydroxyalkanoates)
- PLA (Polylactitc Acid)
by Application
- Food & Beverage Packaging
- Mulch Films
- Agriculture & Horticulture
- Cosmetic & Personal Care Products
- Industrial Packaging
- Others
Company Profiles
The companies covered in the report include
- 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.
- Plascon Packaging LTD.
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the biodegradable films market.
2. Complete coverage of all the segments in the biodegradable films market to analyze the trends, and developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global biodegradable films market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
For more information about this report visit https://www.researchandmarkets.com/r/g5ymyv
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