Dublin, Feb. 22, 2022 (GLOBE NEWSWIRE) -- The "Biodegradable Films Market" report has been added to ResearchAndMarkets.com's offering.
The global biodegradable films market size is estimated to be USD 1.0 billion in 2021 and projected to reach USD 1.4 billion by 2026, at a CAGR of 7.2%.
The growing awareness regarding plastic waste and its adverse impact on the environment is one of the primary factors driving the market growth. Moreover, factors like growing demand from the food packaging industry, and high demand from the agriculture & horticulture sector are also contributing to the market growth of biodegradable films.
PLA is estimated to lead the biodegradable films market, by type in terms of volume during the forecast period
By type, PLA is estimated to be the largest segment in the biodegradable films market in 2021. It is largely used in the packaging industry because it does not have a negative impact on food prices or its supply. It is often blended with starch to increase biodegradability and reduce cost. The key applications of PLA are thermoformed products, such as drink cups, takeaway food trays, containers, and planter boxes. It has good rigidity and allows for the replacement of polystyrene and PET in such applications. PLA is being adopted rapidly as it is more economical to manufacture as compared with the synthesis of other biodegradable plastics.
Food packaging is estimated to be the fastest-growing segment in the biodegradable films market, by application
By application, Food packaging is estimated to be the fastest-growing application of biodegradable films. Egg trays, edible coating, paper boards, wrapping films, and food containers are some of the common applications of biodegradable films in the food packaging industry. PLA, starch blends, PBS, PHA, and cellulose are the most widely used biodegradable films in the food packaging industry. Increasing demand for more sustainable packaging material for fast food and ready to eat food is driving the growth of biodegradable films in food packaging applications. Biodegradable films are mainly used in fresh & frozen food packaging as well as the packaging of dried snacks & candy, and bakery goods among others.
Asia Pacific biodegradable films market is projected to grow at the highest CAGR during the forecast period, in terms of value
Asia Pacific is projected to be the fastest-growing market for biodegradable films during the forecast period. The use of biodegradable films is increasing due to environmental regulations. The rising government regulations regarding the ban on conventional plastic bags and global warming initiatives are expected to drive the demand for biodegradable films for packaging applications in Asia Pacific.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities in Biodegradable Films Market
4.2 Biodegradable Films Market, by Region
4.3 Europe Biodegradable Films Market, by Country and Application
4.4 Biodegradable Films Market, by Type
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Demand from Food Packaging Industry
5.2.1.2 Shift in Consumer Preference Toward Eco-Friendly Plastic Products
5.2.1.3 Focus of Governments on Green Procurement Policies
5.2.2 Restraints
5.2.2.1 Higher Cost of Biodegradable Films Than That of Conventional Plastic Films
5.2.3 Opportunities
5.2.3.1 Steadily Growing Global Bioplastic Industry
5.2.3.2 Growing Demand for Biodegradable Films in Composting Applications
5.2.4 Challenges
5.2.4.1 Performance Issues Related to Biodegradable Films
5.2.4.2 Adverse Impact of COVID-19
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Threat of Substitutes
5.3.5 Intensity of Competitive Rivalry
5.4 Adjacent and Interconnected Markets
6 Impact of COVID-19 on Biodegradable Films Market
6.1 Introduction
6.1.1 Impact of COVID-19 on Lives and Livelihood
6.2 Impact of COVID-19: Customer Analysis
6.2.1 Impact on End-Use Industries
6.2.1.1 Food Packaging
6.2.1.2 Consumer & Personal Care Goods Packaging
6.2.1.3 Industrial Packaging
6.2.1.4 Agriculture & Horticulture
7 Biodegradable Films Market, by Type
7.1 Introduction
7.2 Pla
7.2.1 Increasing Demand for Pla in Food Packaging Applications Drive the Growth of this Segment
7.3 Starch Blends
7.3.1 Growing Demand for Starch as an Effective Alternative to Petroleum Derived Plastics Drive this Segment
7.4 Biodegradable Polyester
7.4.1 Pcl
7.4.1.1 Demand for Pcl to Grow in Biomedical Applications
7.4.2 Pbat
7.4.2.1 Flexibility and Resilience of Pbat Ideal for Blending with Other Biodegradable Polymers
7.4.3 Pbs
7.4.3.1 Cost-Effective Production of Pbs to Drive Its Demand During Forecast Period
7.5 Pha
7.5.1 Liquid Packaging of High-Quality Materials to Influence Market Growth
7.6 Others
8 Biodegradable Films Market, by Application
8.1 Introduction
8.2 Food Packaging
8.2.1 Largest Segment of Biodegradable Films Market
8.3 Agriculture & Horticulture
8.3.1 Biodegradable Films Required to Manufacture Mulches, Seeding Strips, and Tapes
8.4 Cosmetics & Personal Care Products Packaging
8.4.1 Low Recycling Rate in Cosmetic Packaging Industry Fueling Demand
8.5 Industrial Packaging
8.5.1 Rising Concerns of Global Warming and Plastic Waste to Increase Adoption of Biodegradable Films
8.6 Others
9 Biodegradable Films Market, by Region
10 Competitive Landscape
10.1 Overview
10.2 Winners Vs. Tail-Enders
10.2.1 Winners
10.2.2 Tail-Enders
10.3 Competitive Landscape Mapping, 2020
10.3.1 Visionary Leaders
10.3.2 Innovators
10.3.3 Dynamic Differentiators
10.3.4 Emerging Companies
10.4 Competitive Benchmarking
10.4.1 Strength of Product Portfolio
10.4.2 Business Strategy Excellence
10.5 Market Ranking of Key Players
10.6 Competitive Scenario
10.6.1 Product Launches
10.6.2 Deals
10.6.3 Other Developments
11 Company Profiles
11.1 Key Companies
11.1.1 Basf Se
11.1.2 Plascon Group
11.1.3 Walki Group Oy
11.1.4 Futamura Group
11.1.5 Cortec Corporation
11.1.6 Bi-Ax International Inc.
11.1.7 Biobag Americas, Inc.
11.1.8 Taghleef Industries
11.1.9 Clondalkin Group
11.2 Other Players
11.2.1 Tipa Ltd
11.2.2 Polypak S.R.O.
11.2.3 Plastika Kritis S.A.
11.2.4 Trioworld Industrier Ab
11.2.5 Groupe Barbier
11.2.6 Kingfa Sci. & Tech. Co., Ltd.
11.2.7 Layfield Group. Ltd.
11.2.8 Polystar Plastics Ltd.
11.2.9 Avery Dennison Corporation
11.2.10 Paco Label
12 Adjacent and Related Markets
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/iiqgb
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