Biodegradable Films Market by Resin Type (PLA, Starch Blends, PHA, Others) and Application (Food & Beverages, Personal Care, Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026391 | Pages: 100 | Industry: Chemicals and Materials | Date: Sep 2022 | Type: Global

The market crossed US$ 1 billion mark in 2022 and is expected to hit US$ 2 billion by 2030, recording a CAGR of 7.2% during the forecast period.

 

Rising awareness regarding environmental pollution

Growing awareness regarding environmental pollution due to single-use plastics is expected to fuel sales of biodegradable films. Plastic is one of the most used packaging materials among various end-use industries because of its affordability and durability however, its environmental impact is creating a hindrance. Manufacturers in the packaging sector are launching eco-friendly packaging solutions to gain a competitive edge. Thus, the biodegradable film market is expected to increase in the forecast period.

Within the report, the market is segmented into type, application, and geography. By type, the market is segmented into PLA, starch blends, PHA, and others. By application, the market is categorized into food & beverages, personal care, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Get more information on this report :

Growing bioplastic industry worldwide

The bioplastic industry is witnessing an impressive growth rate around the world, which can be considered as a major driving factor for the biodegradable films market. For instance, as per data provided by Packaging Europe in December 2019, the global bioplastics production capacity is projected to increase from around 2.1 million tons in 2019 to 2.4 million tons by 2024.  Thus, with the growing bioplastic industry, the demand for biodegradable films is increasing and is further expected to drive market growth in the future.

Increased demand of biodegradable films in food & beverages industry

Polylactic acid (PLA), starch-based plastics, and polyhydroxyalkanoates (PHA) are being increasingly utilized as raw materials for the manufacturing of food & beverage packaging products due to their ease of disposability, degradability, and recyclability. This has led companies to adopt green packaging labels as a strategy for branding and customer acquisition, thereby increasing the demand for biodegradable films in food packaging & compostable bag applications.

Recent strategic developments in the biodegradable films market

The biodegradable films market has undergone several significant developments, and a few of these have been mentioned below:

  • In February 2020, BASF SE partnered with Fabbri Group (Italy) to develop a new cling film for fresh food packaging. As part of the partnership, Fabbri Group will develop the stretch film, Nature Fresh, by using the certified compostable and bio-based bioplastic, Ecovio, which is offered by BASF SE. This partnership is expected to help increase the share of BASF SE in the biodegradable films market in Italy.
  • In July 2020, Carbiolice and Barbier Group partnered on the development of a new PLA-based Biodegradable Mulch Film.

The biodegradable films market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BASF SE, Kingfa Sci & Tech Co Ltd., BioBag International AS, AEP Industries Inc., RKW SE are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Biodegradable films manufacturer
  • Packaging related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policymakers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

 

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type
  • PLA
  • Starch Blends
  • PHA
  • Others
  • Application
  • Food & Beverages
  • Personal Care
  • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
  • BASF SE
  • Kingfa Sci & Tech Co Ltd.
  • BioBag International AS
  • AEP Industries Inc.
  • RKW SE

Companies profiled
- BASF SE
- Kingfa Sci & Tech Co Ltd.
- BioBag International AS
- AEP Industries Inc.
- RKW SE

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