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Biodegradable Films Market to Witness Major Traction on Account of Advancements in Biodegradable Materials and Consumer Preference for Sustainable Brands
Biodegradable Films Market 2023
The SNS Insider report states that the biodegradable films market was worth USD 1.28 billion in 2022 and is projected to reach USD 2.24 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2023 to 2030.
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The Major Key Company Profiles included in Biodegradable films market study are:
BASF SE
Taghleef Industries
Kingfa Sci. & Tech. Co., Ltd.
BioBag Americas, Inc.
Avery Dennison Corporation
Bi-Ax International Inc.
Cortec Corporation
Clondalkin Group
Paco Label
Layfield Group
Polystar Plastics Ltd.
Futamura Chemical Co. Ltd.
Walki Group Oy
Plascon Group
Groupe Barbier
TRIOWORLD INDUSTRIER AB
Biodegradable films represent a significant step forward in tackling plastic pollution and promoting a more sustainable approach to packaging and other applications. As technology advances and awareness grows, biodegradable films are likely to play an increasingly crucial role in reducing the environmental impact of the plastics industry.
Market Analysis
The biodegradable films market is witnessing rapid growth owing to its versatility in applications. Biodegradable films are increasingly being utilized in food packaging as they not only protect the products but also reduce food waste by extending shelf life. Furthermore, these films are employed in agriculture for mulching purposes, reducing soil erosion, conserving moisture, and enhancing crop yield. Continuous research and development efforts have led to significant advancements in biodegradable materials.
Impact of Recession
While recessions can undoubtedly pose challenges to various industries, the biodegradable films market has proven its resilience in the face of economic uncertainties. With an increasing emphasis on sustainability and environmental consciousness, the demand for eco-friendly packaging materials is set to rise, propelling the growth of biodegradable films. By leveraging innovation, regulatory support, and strategic partnerships, this industry is well-positioned to weather the storm and emerge stronger, paving the way for a more sustainable future.
Segmentation Analysis
The biodegradable films market is poised for significant growth, with the food packaging and starch blends segments taking the lead. The convergence of consumer demand for sustainable products, strict regulations, and technological advancements has created a fertile ground for the proliferation of these eco-friendly alternatives. As the world shifts towards a greener future, biodegradable films will continue to revolutionize the packaging industry, fostering a cleaner, healthier, and more sustainable planet for generations to come.
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The Biodegradable films Market Segments and Sub-Segments are Listed Below:
By Type
PLA
Starch Blends
Biodegradable Polyesters
PCL
PBAT
PBS
PHA
Others
By Application
Food Packaging
Agriculture & Horticulture
Cosmetic & Personal Care Products Packaging
Industrial Packaging
Others
Regional Status & Analysis
As the world continues to grapple with environmental challenges, the prominence of biodegradable films as a sustainable solution has soared. North America's leading position in biodegradable films market can be attributed to its favorable regulatory environment, growing awareness among consumers, significant research and development investments, supportive infrastructure, collaborative efforts, and expanding applications.
Conclusion
The market holds immense promise as a sustainable solution to combat plastic pollution and address environmental concerns. The increasing awareness of environmental issues, supportive regulatory frameworks, material innovations, and expanding applications are driving the demand for biodegradable films across various industries.
Frequently Asked Questions/ Key Reasons to Purchase this Report
>What is the projected outlook for biodegradable films market growth?
Ans-The market for biodegradable films is projected to surpass USD 2.24 billion by the year 2030.
>What are the major factors influencing the biodegradable films market?
Ans- The healthcare and hygiene sectors are adopting biodegradable films for medical packaging, sanitary products, and wound dressings.
>Who are the leading players in the biodegradable films market?
Ans- BASF SE, Kingfa Sci. & Tech. Co., Ltd., Bi-Ax International Inc., Cortec Corporation, Clondalkin Group, BioBag Americas, Inc., Avery Dennison Corporation, Paco Label.
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Table of Contents - Major Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Global Biodegradable films Market segment, By Application
9. Global Biodegradable films Market segment, By type
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Conclusion
Contact Us:
Akash Anand - Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)
About US:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.
We assist our clients to anticipate industrial, economic, and consumer trends to drive disruptive change by fusing global experience with local information from experts throughout the world. We bring context to strategic and tactical data by bridging approaches based on data science and field research, assisting you in addressing your most pressing problems and spotting possibilities.
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