Press release
Biodegradable Films Market Size Projected To Reach $1.95 Billion By 2034 With A Cagr Of 7.7%
Biodegradable Films
What Is the Projected Growth of the Biodegradable Films Market?
In recent times, the market size for biodegradable films has seen significant growth. It is forecasted to increase from $1.35 billion in 2024 to $1.45 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. The growth during the historical period is due to factors such as cost challenges and technological restrictions, the launch of pilot projects, early consumer education endeavors, waste reduction initiatives, and the surge in environmentally friendly practices.
The market size for biodegradable films is projected to experience significant growth in the upcoming years. It is anticipated to escalate to $1.95 billion in 2029, boasting a compound annual growth rate (CAGR) of 7.7%. The growth during the forecast period can be linked to factors such as enhanced cost competitiveness, extensive global market development, Research and Development investments, expansions in the agricultural sector, and worldwide waste management issues. Key trends within the forecast duration include the transformation from plastic to eco-friendly materials, evolving environmental regulations and concerns, advancements in the field of material science, demands from the food packaging sector, and an emphasis on a circular economy.
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What Are the Different Biodegradable Films Market Segments?
The biodegradable films market covered in this report is segmented -
1) By Type: Polylactic Acid (PLA), Starch Blends, Biodegradable Polyesters, Polyhydroxyalkanoates (PHA), Other Types
2) By Application: Bags, Mulch Films, Wrapping Films, Liners, Other Applications
3) By End-Use: Food And Beverage, Healthcare, Personal Care And Cosmetics, Agriculture, Metal, Glass, Other End-Users
Subsegments:
1) By Polylactic Acid (PLA): PLA Homopolymers, PLA Copolymers
2) By Starch Blends: Thermoplastic Starch (TPS), Starch-Based Composites
3) By Biodegradable Polyesters: Polybutylene Succinate (PBS), Polycaprolactone (PCL), Other Biodegradable Polyesters
4) By Polyhydroxyalkanoates (PHA): Short-Chain PHAs, Medium-Chain PHAs
5) By Other Types: Cellulose-Based Films, Proteins And Other Natural Polymers
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What Are the Primary Drivers Shaping the Biodegradable Films Market?
The expansion of the global bioplastics sector is anticipated to substantially drive the biodegradable film market's growth. Bioplastic is defined as a polymer transformed into a commercial product utilizing renewable or natural resources. These bioplastics are extensively employed in biodegradable films as a sustainable and recyclable alternative to single-use plastics. For example, as per the data revealed by the European Bioplastics (EUBP), a European-based organization, in December 2023, it is projected that the global production capacity of bioplastics will notably escalate from roughly 2.18 million metric tons in 2023 to about 7.43 million metric tons in 2028. Consequently, the burgeoning global bioplastic sector is the primary driver of growth for the biodegradable film market.
Which Companies Are Leading in the Biodegradable Films Market?
Major companies operating in the biodegradable films market are BASF SE, Futamura Chemical Co. Ltd., Taghleef Industries LLC, BioBag International AS, Plascon Group, Avery Dennison Corporation, Walki Group Oy, Bi-Ax International Inc., Cortec Corporation, Clondalkin Group, Groupe Barbier, Kingfa Sci & Tech Co. Ltd., Tipa Corp Ltd., Novamont SpA, Sigmund Lindner GmbH, Organix AG, Armando Alvarez Group, Amtrex Nature Care Pvt Ltd., Solos Polymers Pvt. Ltd., ENVIPLAST, Xinle Huabao Medical Products Co. Ltd., Tilak Polypack Private Limited, EcoBharat, Polynova Industries Inc., Magical Film Enterprise Co. Ltd., Chintec Limited, RKW Group, Dow Chemical Company, Plastiroll Oy, Mondi Group, Innovia Films Ltd., Toray Industries Inc., Mitsubishi Chemical Corporation, NatureWorks LLC, Danimer Scientific Inc., Total Corbion PLA, Synbra Technology BV
What Are the Major Trends Shaping the Biodegradable Films Market?
The rise of technological advancements is becoming a significant trend within the biodegradable film industry. To maintain their place in the market, leading companies incorporate cutting-edge technology into their offerings. An example of this occurred in September 2022, when ICL Group, a multinational manufacturer based in Israel, unveiled its revolutionary biodegradable coated fertilizer technology named eqo.x. The innovative tech, specifically crafted to improve controlled release fertilizers (CRF) for open field agriculture, seeks to offer a responsible solution that optimizes crop productivity and lessens environmental damage.
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What Are the Top Revenue-Generating Geographies in the Biodegradable Films Market?
Asia-Pacific was the largest region in the biodegradable films market share in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the biodegradable films market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Biodegradable Films Market?
2. What is the CAGR expected in the Biodegradable Films Market?
3. What Are the Key Innovations Transforming the Biodegradable Films Industry?
4. Which Region Is Leading the Biodegradable Films Market?
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