The global biodegradable film market was valued at $1.1 billion in 2022, and is projected to reach $2.3 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.
Biodegradable film refers to a type of thin material that breaks down naturally into harmless components when exposed to environmental conditions, such as moisture, sunlight, and microorganisms. Unlike traditional plastic films made from non-renewable resources such as petroleum, biodegradable films are typically derived from renewable sources like plant-based materials (e.g., corn, potato, sugarcane, etc.) or other biopolymers.
The world's population continues to increase, leading to greater demand for food and agricultural products. The agriculture industry plays a crucial role in meeting the surge in food needs of a larger global population. In addition, there is a rise in emphasis on sustainable agricultural practices to minimize environmental impact on conservation resources and improve long-term productivity. Sustainable farming practices, including organic farming and regenerative agriculture, have gained popularity among consumers. Biodegradable films find increasing use in agriculture for mulching, which helps conserve water, control weeds, and improve soil quality. The agricultural sector's adoption of biodegradable films has contributed to market growth. These factors are expected to drive the market growth in the agriculture industry during the forecast period.
Biodegradable films have a shorter shelf life compared to traditional plastics. They are more susceptible to moisture and temperature changes, which impact their mechanical properties and lead to a reduced product lifespan. Biodegradable films are more expensive to produce than conventional plastics. The cost of raw materials and production processes is higher, which sometimes translate to higher product prices for consumers. This factor is expected to hamper market growth during the forecast period.
Advancements in material technology have a profound impact on various industries, ranging from electronics, aerospace, and healthcare. These advancements have enabled the development of more efficient, durable, and innovative products in the biodegradable films market. Furthermore, ongoing research and development efforts are continuously improving the properties and performance of biodegradable materials. Innovations in material technology are likely to lead to new formulations with enhanced strength, barrier properties, and compost ability, opening up new opportunities for biodegradable films in diverse applications. This factor is projected to offer new avenues for the biodegradable market.
The biodegradable films market is segmented on the basis of raw material, the market is categorized into polylactic acid (PLA), biodegradable starch, polyhydroxyalkanoates (PHA), and others. On the basis of application, it is divided into food packaging, agriculture mulching, pharmaceutical packaging, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Biodegradable film refers to a type of thin material that breaks down naturally into harmless components when exposed to environmental conditions, such as moisture, sunlight, and microorganisms. Unlike traditional plastic films made from non-renewable resources such as petroleum, biodegradable films are typically derived from renewable sources like plant-based materials (e.g., corn, potato, sugarcane, etc.) or other biopolymers.
The world's population continues to increase, leading to greater demand for food and agricultural products. The agriculture industry plays a crucial role in meeting the surge in food needs of a larger global population. In addition, there is a rise in emphasis on sustainable agricultural practices to minimize environmental impact on conservation resources and improve long-term productivity. Sustainable farming practices, including organic farming and regenerative agriculture, have gained popularity among consumers. Biodegradable films find increasing use in agriculture for mulching, which helps conserve water, control weeds, and improve soil quality. The agricultural sector's adoption of biodegradable films has contributed to market growth. These factors are expected to drive the market growth in the agriculture industry during the forecast period.
Biodegradable films have a shorter shelf life compared to traditional plastics. They are more susceptible to moisture and temperature changes, which impact their mechanical properties and lead to a reduced product lifespan. Biodegradable films are more expensive to produce than conventional plastics. The cost of raw materials and production processes is higher, which sometimes translate to higher product prices for consumers. This factor is expected to hamper market growth during the forecast period.
Advancements in material technology have a profound impact on various industries, ranging from electronics, aerospace, and healthcare. These advancements have enabled the development of more efficient, durable, and innovative products in the biodegradable films market. Furthermore, ongoing research and development efforts are continuously improving the properties and performance of biodegradable materials. Innovations in material technology are likely to lead to new formulations with enhanced strength, barrier properties, and compost ability, opening up new opportunities for biodegradable films in diverse applications. This factor is projected to offer new avenues for the biodegradable market.
The biodegradable films market is segmented on the basis of raw material, the market is categorized into polylactic acid (PLA), biodegradable starch, polyhydroxyalkanoates (PHA), and others. On the basis of application, it is divided into food packaging, agriculture mulching, pharmaceutical packaging, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the biodegradable film market analysis from 2022 to 2032 to identify the prevailing biodegradable film market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the biodegradable film market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global biodegradable film market trends, key players, market segments, application areas, and market growth strategies.
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- Consumer Buying Behavior Analysis
- Investment Opportunities
- Product Life Cycles
- Go To Market Strategy
- Regulatory Guidelines
- Expanded list for Company Profiles
- SWOT Analysis
- Volume Market Size and Forecast
Key Market Segments
By Raw Material
- Polyhydroxyalkanoates (PHA)
- Others
- Polylactic Acid (PLA)
- Biodegradable Starch
By Application
- Food Packaging
- Agriculture Mulching
- Pharmaceutical Packaging
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- SOLOS POLYMERS PVT. LTD
- ENVIPLAST
- Tilak Polypack Private Limited
- EcoBharat
- POLYNOVA Industries Inc
- Amtrex Nature Care Pvt Ltd
- Magical Film Enterprise Co., Ltd
- Plascon Group
- Xinle Huabao Medical Products Co., Ltd
- Suprabha
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BIODEGRADABLE FILM MARKET, BY RAW MATERIAL
CHAPTER 5: BIODEGRADABLE FILM MARKET, BY APPLICATION
CHAPTER 6: BIODEGRADABLE FILM MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the biodegradable film market was valued at $1.1 billion in 2022, and is estimated to reach $2.3 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.Biodegradable film is a thin sheet or coating made from biodegradable materials that has the unique property of breaking down naturally over time when exposed to certain environmental conditions. Unlike traditional plastic films, which persist in the environment for extended periods and contribute to pollution, biodegradable films are designed to degrade into harmless substances without leaving behind harmful residues.
The rise of e-commerce has significantly increased the demand for packaging materials. As more consumers shop online, the need for secure and protective packaging to ship products to various locations has grown rapidly. Consumers seek convenience, portability, and safety in product packaging. The packaging industry has evolved to cater to these preferences by offering innovative and user-friendly packaging solutions. In addition, as per data published by Invest India in October 2022, the packaging industry sector has positioned itself as one of the fastest growing industries across all countries. The industry is worth over $917 billion (in 2019), growing at CAGR 2.8% to reach to $1.05 trillion by 2024.
Packaging plays a vital role in differentiating products on store shelves. Attractive and unique packaging designs capture consumers’ attention and influence their purchasing decisions, prompting companies to invest in eye-catching packaging to stand out from competitors. The packaging industry has undergone a shift toward more sustainable practices. Biodegradable films offer a viable solution for reducing the environmental impact of packaging materials, especially in food and beverage industries, where single-use plastic packaging has been a significant concern. This factor has emerged as a driver for growth of the biodegradable films market.
Biodegradable films have a shorter shelf life compared to traditional plastics. They are more susceptible to moisture and temperature changes, which impact their mechanical properties and lead to a reduced product lifespan. Biodegradable films are more expensive to produce than conventional plastics. The cost of raw materials and production processes is higher, which sometimes translate to higher product prices for consumers. This factor is expected to hamper market growth during the forecast period.
Biodegradable films used in food packaging are designed to maintain the freshness and quality of food products while ensuring safety. These films provide adequate barrier properties, moisture resistance, and protection against external contaminants. Adopting biodegradable films in food packaging enhances a brand's environmental image and demonstrates a commitment to sustainability. This factor is anticipitated to drive biodegradable film market during the forecast period.
Advancements in material technology have a profound impact on various industries, ranging from electronics, aerospace, and healthcare. These advancements have enabled the development of more efficient, durable, and innovative products in the biodegradable films market. Furthermore, ongoing research and development efforts are continuously improving the properties and performance of biodegradable materials. Innovations in material technology are likely to lead to new formulations with enhanced strength, barrier properties, and compost ability, opening up new opportunities for biodegradable films in diverse applications. This factor is projected to offer new avenues for the biodegradable market.
R&D efforts lead to improvements in the formulation and processing of biodegradable starch films. This made them more practical, cost-effective, and suitable for a broader range of applications. Similar to PLA films, biodegradable starch films have gained popularity due to an increase in awareness of the environmental impact of conventional plastics. Consumers and industries alike sought more sustainable packaging options, and starch-based biodegradable films emerged as a viable solution. This factor is expected to act as driving force for the biodegradable films market for the biodegradable starch segment.
The biodegradable films market is segmented on the basis of raw material, the market is categorized into polylactic acid (PLA), biodegradable starch, polyhydroxyalkanoates (PHA), and others. On the basis of application, it is divided into food packaging, agriculture mulching, pharmaceutical packaging, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain intense competition in the industry.
The report covers the strategies adopted by key players in the market to sustain the competitive environment and increase their market share. The key players operating in the global biodegradable films market Amtrex Nature Care Pvt Ltd., SOLOS POLYMERS PVT. LTD., Plascon Group., ENVIPLAST, Xinle Huabao Medical Products Co., Ltd., Tilak Polypack Private Limited, EcoBharat, POLYNOVA Industries Inc., Magical Film Enterprise Co., Ltd., Suprabha, Chintec. In addition, the market drivers, restraints, and opportunities are explained in the report.
Key Findings:
On the basis of raw material, the biodegradable starch segment is expected to grow at a CAGR of 7.3%, in terms of revenue, during the forecast period.Depending on application, the food packaging segment is expected to grow at a CAGR of 7.8%, in terms of revenue, during the forecast period.
Region wise, Asia-Pacific garnered a share of around 40% in 2022.
North America garnered a more than one-fourth share in 2022.
Companies Mentioned
- SOLOS POLYMERS PVT. LTD
- ENVIPLAST
- Tilak Polypack Private Limited
- EcoBharat
- POLYNOVA Industries Inc
- Amtrex Nature Care Pvt Ltd
- Magical Film Enterprise Co., Ltd
- Plascon Group
- Xinle Huabao Medical Products Co., Ltd
- Suprabha
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 406 |
| Published | September 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 1.1 billion |
| Forecasted Market Value ( USD | $ 2.3 billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
