Biodegradable Films Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Biodegradable Films Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : October, 2022 | Packaging

Report Digest

Biodegradable Films Market – Overview

The biodegradable films market has been anticipated to expand at a significant rate in the coming years. The growth avenues in the global market are attributed to the increasing awareness among people related to plastic waste as well as its adverse effects on the environment. In addition to this, increasing requirements from the food packaging industry and agriculture & horticulture sector have also been estimated to contribute to the growth avenues in the global market in the near future.

The noticeable expansion in the bioplastic industry has been creating the growth opportunities for the biodegradable films market.

Biodegradable Films Market – Key Drivers

Polyhydroxyalkanoates (PHA), starch-based plastics, and polylactic acid (PLA) are used at an increased rate as raw materials in order to manufacture the products for the food & beverages packaging industry. The increasing adoption of these services is because of their ease in recyclability, degradability, and disposability. It has resulted in the increased adoption of green packaging labels as a significant strategy for customer acquisition and branding. These factors are further predicted to drive the growth avenues in the biodegradable films market in the coming years.

The cost-competitive inability of the products from the biodegradable films market has been predicted to curtail the growth avenues in the following years. Generally, the production of biodegradable films is comparatively higher than conventional plastic films. It is because of the high cost of polymerization of biodegradable plastics. Further, the majority of these procedures are still in the stage of development and thus, put an impact on their adoption across the world. Along with these factors, low barrier properties to oxygen, water, and air compared to conventional plastic films have been anticipated to curtail the growth avenues in the biodegradable films market. 

Biodegradable Films Market – Recent Developments and Key Players

The biodegradable films market has been fragmented moderately. The global market has been commonly characterized with the presence of some local as well as international players. Further, these players have been projected to concentrate on different strategies in order to achieve a share in the global market, develop brand awareness, and penetrate the developing markets. Along with these efforts, these players are focusing to enhance their services to gain a larger consumer base. Mergers and acquisitions, novel product launches, expansion of company networks, and agreements or partnerships are some of the other noteworthy factors that are likely to fuel the market growth in the following years.

For instance, BASF SE has established a partnership with Fabbri Group (Italy) in February 2020. The aim of this partnership is to develop novel cling film for the fresh food packaging. Fabbri will develop Nature Fresh, the stretch film, with the use of certified bio-based and compostable bioplastic named, Ecovio and BASF SE has offered the product. This step will improve the company share of BASF SE in the Italian market.

Some of the key players in the biodegradable films market are:

  • Kingfa Sci. & Tech. Co., Ltd.
  • Futamura Chemical Co. Ltd.
  • Bi-Ax International Inc.
  • Taghleef Industries
  • Cortec Corporation
  • Walki Group Oy
  • Plascon Group
  • BioBag Americas, Inc.
  • Avery Dennison Corporation
  • Clondalkin Group

Biodegradable Films Market – Regional Assessment

The biodegradable films market has been divided into five major geographical regions including North America, South America, Europe, Asia Pacific, and the Middle East & Africa on the basis of geographical regions. Among these, Asia Pacific has been predicted to grow at a rapid pace in the coming years. The growth avenues in the regional market are attributed to increasing government regulations related to the ban on conventional plastic bags and the adoption of application of different environmental regulations. Along with this, increasing initiatives against the global market in the region are also likely to fuel growth avenues in the regional market in the near future.

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.