With a CAGR of 7.2%, the biodegradable film market is expected to reach $1.4 billion by 2026.
According to a new market research report, the "Biodegradable Films Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), Application (Food Packaging, Agriculture & Horticulture, Cosmetic & Personal Care Products Packaging, Industrial Packaging) and Region - Global Forecast to 2026", is projected to grow from USD 1.0 billion in 2021 to USD 1.4 billion by 2026, at a CAGR of 7.2% from 2021 to 2026. The market is witnessing significant growth across the world due to the increasing awareness and stringent government regulations about the use of non-biodegradable films. Biodegradable films are used in various applications such as food packaging, agriculture & horticulture, and cosmetics & personal care packaging.
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- 197 Market data Tables
- 29 Figures
- 178 Pages and in-depth TOC on "Biodegradable Films Market - Global Forecast to 2026"This report also provides a comprehensive analysis of the companies listed below: 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), TRIOWORLD INDUSTRIER AB (Sweden), Groupe Barbier (France), Paco Label (US), Layfield Group (Canada), and Polystar Plastics Ltd. (UK)
COVID-19 Impact on the Global Automotive Airbags & Seatbelts Market The primary application segments of biodegradable film market are the agriculture & horticulture and food packaging. COVID-19 is expected to have a mixed impact on these applications.
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By type, PLA is estimated to be the leading segment of biodegradable films from 2020 to 2026. 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.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. Inquire Now: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=77112988 Trending Packaging Industry Report - The demand for biodegradable films is estimated to experience a dip due to the outbreak of COVID-19 around the world in 2020. However, the food industry has remained operational throughout; thus, the impact on the biodegradable films market is assumed to be negligible.
- The impact of COVID-19 outbreak on demand for biodegradable films in the agricultural industry is considered to be slightly affected at the global level, due to disruption in the supply chain.