The worldwide packaging sector is going through unheard-of changes as a result of ongoing technical breakthroughs, rapid industrialization, and increasing urbanization. Depending on the material structure and climatic variables, plastic films might take 20–500 years to dissolve into the soil. Biodegradable alternatives have become more and more common as a result of plastic's poor biodegradability and extensive and irresponsible use. This is how biodegradable films are used.
Data Bridge Market Research analyses that the Biodegradable Film Market, valued at USD 15,251.71 million in 2022, will reach USD 23,763.94 million by 2030, growing at a CAGR of 5.7% during the forecast period of 2023 to 2030.
"Improved shelf-life of the packaged products is bolstering the market growth"
Proper food packaging is necessary to protect packaged foods from physical, chemical, and environmental pollutants while also maintaining their quality. The expansion of the worldwide biodegradable films market is being driven by biodegradable films' capacity to enhance food quality, shelf life, safety, and usability. The food sector uses biodegradable films for edible coating, paper boards, egg trays, carry bags, wrapping films, and food packaging.
What restraints the growth of the Global Biodegradable Film Market?
"High prices associated restrain the market growth"
The market for biodegradable film isn't expanding because of the high prices involved. Creating biodegradable films costs 20% to 80% more than creating films made of regular plastic. This is mostly caused by the expensive polymerization of biodegradable plastic, which arises from the fact that the majority of technologies are still in the research and development stages and have not yet attained economies of scale.
Segmentation: Global Biodegradable Film Market
The biodegradable film market is segmented on the basis of type, product type, crop type and application.
- On the basis of type, the market is segmented into PLA, starch blends, biodegradable polyester, PCL, PBAT, PBS, PHA, soy-based, cellulose-based, lignin-based, and others.
- On the basis of product type, the market is segmented into oxo-biodegradable and hydro-biodegradable.
- On the basis of crop type, the market is segmented into fruits and vegetables, grains and oilseeds, flowers and plants, and others.
- On the basis of application, the market is segmented food packaging, agriculture and horticulture, cosmetic and personal care products, industrial packaging, and others.
Regional Insights: Asia-Pacific dominates the global biodegradable film market
The market is dominated by Asia-Pacific. As a result of increased worries about climate change and greenhouse gas emissions, China in Asia-Pacific holds the highest share of the biodegradable film market.
During the predicted period, North America will have the most significant CAGR. The United States is the market leader in North America for biodegradable film due to its easy availability and cheap pricing.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-biodegradable-film-market
The Prominent Key Players Operating in the Global Biodegradable Film Market Include:
- BASF SE (Germany)
- Biogeneral (U.S.)
- TAGHLEEF INDUSTRIES GROUP (UAE)
- Polyplex (India)
- Walki Group Oy (Finland)
- Kingfa SCI. & TECH. CO., LTD. (China)
- Plascon Group (U.S.)
- Grafix Plastics (U.S.)
- BioBag Americas, Inc.(Florida)
- Polystar Plastics Ltd (U.K.)
- Accredo Packaging, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global biodegradable film market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Biodegradable Film Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
