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Biodegradable Films Market worth $1.5 billion by 2025, at a CAGR of 6.6%

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Biodegradable Films Market worth $1.5 billion by 2025, at a CAGR of 6.6%

September 22
22:11 2020
Biodegradable Films Market worth $1.5 billion by 2025, at a CAGR of 6.6%

Browse 154 market data Tables and 29 Figures spread through 144 Pages and in-depth TOC on “”Biodegradable Films Market”
Biodegradable Films Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), Applications (Food Packaging, Agriculture & Horticulture, Cosmetic & Personal Care Products Packaging, Industrial Packaging), and Region

The biodegradable films market is projected to grow from USD 1.1 billion in 2020 to USD 1.5 billion by 2025, at a CAGR of 6.6% from 2020 to 2025. The major reasons for the growth of the biodegradable films market include growing awareness regarding plastic waste and its adverse impact on the environment. Some of the other driving factor for the biodegradable films market growth include, growing demand from the food packaging industry, high demand from the agriculture & horticulture sector.

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By type,  PLA is estimated to be the leading segment of biodegradable films from 2020 to 2025.

By type, PLA is estimated to have the largest share of the biodegradable films market, in terms of value, in 2020 due to the ease of availability of raw materials for manufacturing PLA. It is also the fastest-growing market, which is projected to register the highest CAGR in terms of volume during the forecast period. Biodegradable polyester is the second-largest segment of the market, in terms of volume during the forecast period.

By application, food packaging to be the largest and the fastest-growing segment of biodegradable films

By application, the biodegradable films market in the food packaging segment is estimated to account for the largest share in 2020 due to the increased use of biodegradable films for manufacturing single-use compostable packaging materials, including carry bags, food packaging boxes, and laminating films. Food packaging is also the fastest-growing application of biodegradable films. The market in the cosmetic & personal packaging application is also projected to register the second-fastest CAGR in terms of value during the forecast period.

Europe is estimated to be the largest biodegradable films market during forecast period

Europe is the largest market for biodegradable films. North America is emerging as a major consumer of biodegradable films due to the increasing demand from the packaging & bags and consumer goods industries. Asia Pacific was the third-largest biodegradable films market. It is the fastest-growing markets, in terms of biodegradable films production, conversion, and consumption. Factors such as rising environmental degradation, improving environment-related government policies, and an increase in the number of applications are some of the major drivers responsible for the biodegradable films market in Asia Pacific.

BASF SE (Germany), Futamura Chemical Co. Ltd. (Japan), Taghleef Industries (UAE), Walki Group Oy (Finland), Kingfa Sci. & Tech. Co., Ltd. (China), BioBag Americas, Inc. (US), Avery Dennison Corporation (US), Plascon Group (US), Bi-Ax International Inc. (Canada), Cortec Corporation (US), Clondalkin Group (Netherlands), TRIOPLAST INDUSTRIER AB (Sweden), Groupe Barbier (France), Paco Label (US), Layfield Group (Canada), and Polystar Plastics Ltd. (UK) are the key players in biodegradable films market.

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