36.00% of Global Biodegradable Film Market Revenue is generated by Grains and Oilseeds Segment

As per the World Greenhouse Vegetable Statistics, the global greenhouse increasing space for production is 1,228,000 acres. Before completely biodegrading, biodegradable materials physically alter the soil. On the other hand, PE plastic pieces inhibit soil infiltration and water absorption, which may have an impact on greenhouse plantation soil ecosystems and, as a result, plant germination and growth. As a result, the demand for market biodegradable mulch film is booming. Biodegradable films, aluminum foil, and paper-based packaging are some of the more recent sustainable packaging alternatives that industry behemoths are considering. The packaging market is projected to see increased demand for biodegradable films in the near future. Both varieties are completely biodegradable.

Data Bridge Market Research analyses that the biodegradable film market is expected to grow at a CAGR of 5.2% in the forecast period of 2021 to 2028 and is expected to reach USD 21,270.50 million by 2028. One of the key factors driving market expansion is a growing awareness of plastic waste and its negative impact on the environment. Furthermore, factors such as high demand from the agriculture and horticulture sectors and the surging need from the food packaging industry are boosting the biodegradable film market.

High demand from food packaging industry is expected to drive the market's growth rate during the forecast period

Considering the ease of disposal, degradability, and recyclability, polylactic acid (PLA), starch-based polymers, and polyhydroxyalkanoates (PHA) are becoming more popular as raw materials for food and beverage packaging. As a result, businesses are increasingly using green packaging labels as a branding and client acquisition strategy, driving up demand for biodegradable films in food packaging and compostable bag applications.

Report Scope and Market Segmentation

Segment Analysis:

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, PHA, soy-based, cellulose-based, lignin-based and others. In 2021, starch blends are expected to dominate the biodegradable film market with 27.03% market share because starch blends biodegradable film has good film properties that have comparatively fewer adverse environmental effects.
• On the basis of product type, the market is segmented into oxo-biodegradable and hydro-biodegradable. In 2021, the oxo-biodegradable segment is expected to dominate the global biodegradable film market with 54.93% market share because oxo-biodegradable-based products are cost-effective and easily affordable among the consumers.

In 2021, the oxo-biodegradable segment is projected to hold the largest share of product type segment in the biodegradable film market. 

In 2021, the oxo-biodegradable segment is anticipated to hold the largest share of global biodegradable film market because oxo-biodegradable-based products are cost-effective as well as easily affordable among the consumers. The oxo-biodegradable segment is growing with a CAGR of 5.4% in the forecast period of 2021 to 2028.

• On the basis of crop type, the market is segmented into fruits and vegetables, grains and oilseeds, flowers and plants, and others application. In 2021, grains and oilseeds segment is expected to dominate the global biodegradable film market with 36.00% market share because of the excellent food contact compliance and exclusive strength and stability of these biodegradable films.
• On the basis of application, the market is segmented into food packaging, agriculture and horticulture, cosmetic and personal care products, industrial packaging and other. In 2021, the agriculture and horticulture segment is expected to dominate the biodegradable film market with 36.19% market share because biodegradable films are widely used in agriculture and horticulture application to increase water use efficiency.

In 2021, the agriculture and horticulture segment of application segment is anticipated to dominate the biodegradable film market. 

In 2021, this market's agriculture and horticulture segment will dominate the biodegradable film market because biodegradable films are widely used in agriculture and horticulture application to increase water use efficiency. The agriculture and horticulture segment is expected reach the highest CAGR of 5.2% in the forecast period of 2021-2028.

Major Players

Data Bridge Market Research recognizes the following companies as the major Biodegradable film market players in Biodegradable film market are BASF SE (Germany), Biogeneral (U.S.), Plascon Group (U.S.), TAGHLEEF INDUSTRIES GROUP (UAE), Shreejistretchfilm (India), Polyplex (India), STOROPACK HANS REICHENECKER GMBH (Germany), Grafix Plastics (U.S.), Walki Group Oy (Finland), BioBag Americas, Inc (Florida).

Market Development

• In February 2020, BASF SE announced their partnership with Fabbri Group (Italy) for the development of a new cling film for fresh food packaging. Fabbri Group will use the certified biodegradable and bio-based bioplastic Ecovio, which BASF SE offers, to develop the stretch film Nature Fresh as part of the collaboration. This collaboration is expected to help BASF SE expand its market share in Italy for biodegradable films.
• In April 2021, Walki Group announced the acquisition of Plasbel, the Spanish leader in sustainable packaging solutions. Plasbel assisted Walki in expanding its European footprint by providing a comprehensive selection of food packaging options and post-consumer recycled and biodegradable films for use in retail and hospitality. This acquisition is a key step toward Walki's goal of increasing the circularity and recyclability of packaging materials. The combined entity's complementary RandD capabilities allowed it to become a top biofilm converter with tremendous growth potential across the board.
• In September 2020, AVERY DENNISON CORPORATION for the third year in a row, Brazil received the Industry Sustainability Award for its label-waste recycling programme. This achievement is expected to boost the company's reputation and revenues in both the country and the continent.
• In August 2021, Danimer Scientific, Inc. announced its acquisition of Novomer, Inc. In its pilot plant, Novomer uses its unique Novo22 catalyst and innovative process design to generate products that can be manufactured at low costs.

Regional Analysis

Geographically, the countries covered in the biodegradable film market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.  

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in Biodegradable film market during the forecast period 2021 - 2028

Asia-Pacific will continue to dominate the biodegradable film market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the rising infrastructure, commercial, and packaging industrial developments in emerging countries. China dominates the Asia-Pacific region with the highest market share due to the high demand for biodegradable film. Most of the advanced technology-based biodegradable film is launched in the region.

North America is estimated to be the fastest-growing region in Biodegradable film market the forecast period 2021 - 2028

North America region is anticipated to grow at the highest rate during the forecast period of 2021-2028 due to the presence of major key players and increasing per capita income in this region. U.S. dominates the North American region due to the easy availability of product as well as at reasonable rates in the region.

COVID-19 Impact Analysis

Over the last 18 months, almost every industry on the planet has suffered a setback. This can be ascribed to severe disruptions in their respective manufacturing and supply-chain operations, resulting from multiple precautionary lockdowns and other limitations imposed by governments all over the world. The biodegradable film market is no exception. Furthermore, consumer preferences has decreased as people are now much more concentrated on removing non-essential expenses from their budgets as the wider economic situation of most people has been adversely impacted by this outbreak. Over the forecast period, the aforementioned factors are likely to have a negative impact on the biodegradable film market's revenue trajectory.

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