Biodegradable Films Market Value to Grow by Almost US$ 1.7 Billion in 2032 | Future Market Insights, Inc.

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Jul 27, 2022, 09:30 ET

Expansion in the Food Service Sector Will Boost Sales of Biodegradable Films. Based on applications, demand for biodegradable films bags is expected to increase at a CAGR of 5.8% during the forecast period. South Asia is expected to grow by 1.8x, driven by high demand in India

NEWARK, Del., July 27, 2022 /PRNewswire/ -- The global biodegradable films market is predicted to increase at a 5.6% CAGR, with the market valuation reaching US$ 1,040.1 Mn in 2022 and US$ 1.7 Bn by 2032. Increasing demand for environment friendly carrier bags, plastic manufacturers have changed from ordinary plastic bags to bio-plastic carrier bags.

Another factor boosting the bio-plastic carrier bag market is the reusability feature, which is highly valued by customers. Rising government initiatives to adopt environment-friendly alternatives will continue fuelling demand for bio-plastic carrier bags. The bio-plastic carrier bag market is expected to grow significantly during the projected period due to its increasing use in a variety of sectors as well as by consumers.

Biodegradable polymeric films provide a sustainable packaging option while also extending the shelf life of goods. The development of biodegradable materials derived from renewable resources, as well as a reduction in the usage of plastic packaging will augment the growth in the market.

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Biodegradable films are mostly used for wrapping of fresh foods. Freshly cut fruits and vegetables are perishable. Packaging is an important strategy for extending the shelf life of fresh-cut agricultural products that have been packed.

Fresh fruits and vegetables are traditionally wrapped with petroleum-based films. However, because they are nonbiodegradable and derived from non-renewable resources, these films cause environmental issues. Various efforts have been made to address this issue, with a focus on biopolymer-based renewable and biodegradable films. As per an independent survey, the fresh food packaging industry is expected to reach about US$ 98 bn by 2023, which will drive the demand for biodegradable films.

"Growing awareness of plastic waste and rising focus on a green environment will lead to the adoption of biodegradable materials across various sectors, thereby fueling sales of biodegradable films," says an FMI analyst.

Key Takeaways:

Through 2032, the biodegradable films market is expected to grow by ~1.7 times its current value.
Sales in the bio-based PLA films segment are forecast to increase at a 6.5% CAGR through 2032.
Bags are expected to remain top application for biodegradable films and are estimated to grow by 1.8x.
The South Asia biodegradable films market is predicted to account for roughly 20% of the total market share during the forecast period.

Competition Landscape

BASF SE, Futamura Chemical Co. Ltd., Taghleef Industries, Walki Group Oy, BioBag Americas, Inc., Avery Dennison Corporation, Plascon Group, Bi-Ax International Inc., Cortec Corporation, Polystar Plastics Ltd., Layfield Group, Paco Label, Groupe Barbier, TRIOWORLD INDUSTRIER AB, Clondalkin Group.

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Biodegradable Films Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global market for Biodegradable films market by material (bio-LDPE, bio-HDPE, bio-based PLA), thickness (up-to 1 mm, 2-4 mm, above 4 mm), application (bag, mulch films, wrapping films, liners, others (sheet, etc.)), end use (food & beverages, healthcare, personal care and cosmetics, agriculture, metal, glass, others (wood, foam, etc.)).

Biodegradable films Market by Category

By Material:

Bio-LDPE
Bio-HDPE
Bio-based PLA

By Thickness:

Up-to 1mm
2 – 4mm
Above 4mm

By Application:

Bags
Mulch films
Wrapping films
Liners
Others (Sheets, etc)

By End-Use:

Food & Beverage
Healthcare
Personal Care & Cosmetics
Agriculture
Metal
Glass
Others (Wood, Foam, etc.)

By Region:

North America
Latin America
Europe
Middle east and Africa
East Asia
South Asia
Oceania

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Technology Roadmap

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Product Innovation / Development Trends

4. Key Success Factors

4.1. Product Adoption / Usage Analysis

4.2. Product USPs / Features

4.3. Strategic Promotional Strategies

5. Biodegradable Films Market Demand Analysis 2015–2021 and Forecast, 2022–2032

5.1. Historical Market Volume (Tonnes) Analysis, 2015–2021

5.2. Current and Future Market Volume (Tonnes) Projections, 2022–2032

TOC continued..!

About the Packaging Division at Future Market Insights

Future Market Insights packaging division provides in-depth historical research and estimates for the next ten years, as well as a unique dashboard perspective of the competitive landscape. Future Market Insights offers an extensive database for various market verticals, ranging from packaging materials to packaging machines to package designs and formats, providing clients with unique research services and strategic suggestions. With a library of over 1,000 reports, the team has thoroughly examined the packaging sector in more than 50 nations. The team assesses each node of the value chain and delivers end-to-end research and consulting services; contact us to learn more about how we can assist.

Have a Look at Packaging Domain Related Research Reports:

Silicone Release Films Market Size - The global silicone release films market is on track to record an anticipated CAGR of 6.1% from 2022 to 2032.

Biodegradable Lidding Films Market Share - Global Biodegradable Lidding Films market is correlated to the significant presence of organized retail and wholesale sector across the world.

Biodegradable Packaging Market Growth - The product differentiation in order to attract customers' attention will emerge as a strategy to gain a competitive edge in the market. Leading manufacturers are expected to explore new options in the plastics industry to introduce more flexible, biodegradable packaging materials.

Biodegradable Packing Peanuts Market Trends - Biodegradable packing peanuts are types of loose fill packaging peanuts which are used as a protective packaging solution. Keeping in mind the harmful effects of loose fill packaging peanuts, manufacturers are now comes up with biodegradable packing peanuts.

Biodegradable water bottles Market Outlook - The growing environment protection awareness among people will help the biodegradable water bottles market to flourish. The global biodegradable market accounts for a share of less than 1% of the plastics market, but with an increase in R&D adopted by market players, the market is expected to grow steadily.

Download complimentary copy of Future Market Insights White Paper on Intelligent Packaging for Circular Economy published in collaboration with Graham Packaging and Avery Dennison

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Report: https://www.futuremarketinsights.com/reports/biodegradable-films-market
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