The Biodegradable Films Market Size was valued at USD 1.16 billion in 2023. It is projected to reach USD 2.06 billion by 2031 and grow at a CAGR of 7.3% over the forecast period 2024-2031.
The growth of the biodegradable film market is propelled by escalating environmental concerns and tightening regulations against plastic pollution. Increased consumer preference for sustainable packaging solutions is driving demand. Technological advancements in biopolymer production are enhancing film properties and cost-effectiveness, further stimulating market expansion. Growing awareness about the environmental impact of traditional plastics is accelerating the adoption of biodegradable alternatives. Additionally, the versatility of biodegradable films across industries like food, agriculture, and cosmetics is broadening market opportunities and sustaining growth momentum.
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Drivers
Increasing environmental concerns and regulations aimed at reducing plastic pollution.
Versatility of biodegradable films across various industries
The wide-ranging applicability of biodegradable films across industries such as food packaging, agriculture, pharmaceuticals, and more drives their market growth. Their ability to provide sustainable packaging solutions while meeting industry-specific requirements makes them indispensable in today's environmentally conscious market landscape. This versatility not only meets diverse needs but also fuels continuous demand and innovation, positioning biodegradable films as a leading solution in the market.
Restraint
Higher production costs of biodegradable films as compared to conventional plastic films
Opportunities
Growing awareness about the harmful effects of traditional plastics on ecosystems.
Rising demand for biodegradable packaging materials in emerging economies.
Challenges
Concerns regarding the shelf life and performance of biodegradable films compared to traditional plastics.
Concerns over the shelf life and performance of biodegradable films pose a significant restraint for the market. While biodegradable films offer eco-friendly alternatives, questions about their durability and functionality compared to traditional plastics hinder widespread adoption. Addressing these concerns through research and development to improve the longevity and performance of biodegradable films is crucial for overcoming this restraint and ensuring market growth in the long term.
The Russia-Ukraine war has disrupted the supply of key raw materials like polyethylene, crucial for biodegradable film production, leading to shortages and price hikes. Global economic uncertainty stemming from the conflict may prompt businesses to curtail investments in sustainable packaging solutions like biodegradable films. Additionally, economic sanctions and the subsequent rise in crude oil prices, exceeding $100 per barrel, have increased resin pricing. PE suppliers had implemented a per-pound price increase of 4 cents in March, with another 6-cent increase for Q2 2022. This price volatility could hinder the adoption and growth of biodegradable films in the market, potentially delaying sustainable packaging initiatives across industries.
During economic downturns, consumer prioritization of essential spending over discretionary items may reduce demand for products packaged with biodegradable films, particularly if they entail a premium compared to traditional packaging. Businesses, facing financial constraints, are likely to curtail investments, including those in sustainable packaging solutions like biodegradable films, thereby slowing their adoption and impeding market growth. Moreover, economic downturns can tighten access to credit for businesses, limiting their capacity to invest in innovative technologies and production lines for biodegradable films, further hindering market expansion.
By Type
PLA
PHA
Starch Blends
Biodegradable Polyesters
PBAT
PCL
PBS
Others
The starch blend type segment dominated the Biodegradable Films Market and held the highest revenue share of more than 39.5% in 2023 attributed to its excellent biodegradability, cost-effectiveness, and versatility. Starch-based blends offer a balance between performance and environmental sustainability, making them preferred choices for various packaging applications. Additionally, advancements in starch blend formulations and processing techniques have further enhanced their market appeal, driving their widespread adoption and revenue contribution.
By Application
Food Packaging
Cosmetic & Personal Care Products Packaging
Agriculture & Horticulture
Industrial Packaging
Others
The food Packaging segment is expected to be the dominant application segment of the Biodegradable Films Market during the forecast period of 2024-2031 owing to heightened consumer demand for sustainable packaging solutions in the food industry. Regulatory initiatives mandating eco-friendly packaging practices are also propelling the adoption of biodegradable films. Additionally, advancements in biodegradable film technology tailored specifically for food packaging applications are enhancing product performance, durability, and shelf life, driving the dominance of this segment in the forecast period.
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Europe dominated the Biodegradable Films Market with the highest revenue share of more than 40% in 2023. This is attributed to stringent regulatory frameworks favoring sustainable packaging solutions and fostering consumer awareness regarding environmental conservation. Moreover, the region's robust infrastructure for recycling and waste management enhances the adoption of biodegradable films. Additionally, increasing consumer preference for eco-friendly products further solidifies Europe's position as a key market player in the biodegradable films sector.
Asia Pacific is expected to grow at the highest CAGR in the Biodegradable Films Market during the forecast period. These include increasing consumer awareness about environmental sustainability, stringent regulations promoting eco-friendly packaging solutions, and the region's rapid industrialization driving demand for biodegradable films. Moreover, rising disposable incomes and shifting consumer preferences towards sustainable products further accelerate market growth in Asia Pacific.
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
BASF SE, Taghleef Industries, Kingfa Sci. & Tech. Co., Ltd., BioBag Americas, Inc., Avery Dennison Corporation, Bi-Ax International Inc., Cortec Corporation, Clondalkin Group, Paco Label, Layfield Group, and Polystar Plastics Ltd., Futamura Chemical Co. Ltd., Walki Group Oy, Plascon Group, Groupe Barbier, TRIOWORLD INDUSTRIER AB, and Others.
Taghleef Industries-Company Financial Analysis
In August 2022, Avery Dennison Labels and Packaging Materials took a significant step forward in promoting the circular economy in packaging by introducing two MDO film products with post-consumer recycled content. The new rMDO white and rMDO clear filmic face stocks offer brands the opportunity to enhance packaging sustainability and stay ahead of evolving regulations for a wide range of household, personal care, cosmetic, and food products.
In July 2022, Cortec Corporation achieved industrial composability certification for its environmentally friendly Eco Film.
In July 2020, Carbiolice, a French start-up specializing in biobased, biodegradable, and compostable plastic solutions, partnered with agricultural film manufacturer Barbier Group to develop a new PLA-based mulch film.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 1.16 Billion |
| Market Size by 2031 | US$ 2.06 Billion |
| CAGR | CAGR of 7.3% From 2023 to 2030 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (PLA, PHA, Starch Blends, Biodegradable Polyesters, and Others) • By Application (Food Packaging, Cosmetic & Personal Care Products Packaging, Agriculture & Horticulture, Industrial Packaging, and Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | BASF SE, Taghleef Industries, Kingfa Sci. & Tech. Co., Ltd., BioBag Americas, Inc., Avery Dennison Corporation, Bi-Ax International Inc., Cortec Corporation, Clondalkin Group, Paco Label |
| Key Drivers | • Increasing environmental concerns and regulations aimed at reducing plastic pollution. • Versatility of biodegradable films across various industries |
| RESTRAINTS | • Higher production costs of biodegradable films as compared to conventional plastic films |
Ans. The Compound Annual Growth rate for the Biodegradable Films Market over the forecast period is 7.3%.
Ans. The projected market size for the Biodegradable Films Market is USD 2.06 billion by 2031.
Ans: China dominated the Asia Pacific region in the Biodegradable Films Market with the highest revenue share in 2023.
Ans: The primary factors restraining the Biodegradable Films Market include concerns about the shelf life and performance compared to traditional plastics, as well as higher production costs associated with biodegradable materials.
Ans: Opportunities for the Biodegradable Films Market include increasing consumer demand for sustainable packaging solutions and the growing trend towards environmentally friendly products across various industries.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.4 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine War
5.2 Impact of Economic Slowdown
5.2.1 Introduction
5.2.2 Impact on major economies
5.2.2.1 US
5.2.2.2 Canada
5.2.2.3 Germany
5.2.2.4 France
5.2.2.5 United Kingdom
5.2.2.6 China
5.2.2.7 Japan
5.2.2.8 South Korea
5.2.2.9 India
6. Value Chain Analysis
7. Porter’s 5 forces model
8. PEST Analysis
9. Average Selling Price
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 Middle East & Africa
10. Biodegradable Films Market Segmentation, By Type
10.1 Introduction
10.2 Trend Analysis
10.3 PLA
10.4 PHA
10.5 Starch Blends
10.6 Biodegradable Polyesters
10.6.1 PBAT
10.6.2 PCL
10.6.3 PBS
10.7 Others
11. Biodegradable Films Market Segmentation, By Application
11.1 Introduction
11.2 Trend Analysis
11.3 Food Packaging
11.4 Cosmetic & Personal Care Products Packaging
11.5 Agriculture & Horticulture
11.6 Industrial Packaging
11.7 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Poland
12.3.1.2 Romania
12.3.1.3 Hungary
12.3.1.4 Turkey
12.3.1.5 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.1 Germany
12.3.2.2 France
12.3.2.3 UK
12.3.2.4 Italy
12.3.2.5 Spain
12.3.2.6 Netherlands
12.3.2.7 Switzerland
12.3.2.8 Austria
12.3.2.9 Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East
12.5.1.1 UAE
12.5.1.2 Egypt
12.5.1.3 Saudi Arabia
12.5.1.4 Qatar
12.5.1.5 Rest of the Middle East
12.5.2 Africa
12.5.2.1 Nigeria
12.5.2.2 South Africa
12.5.2.3 Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America
13 Company Profile
13.1 BASF SE
13.1.1 Company Overview
13.1.2 Financials
13.1.3 Product/Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Taghleef Industries
13.2.1 Company Overview
13.2.2 Financials
13.2.3 Product/Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Kingfa Sci. & Tech. Co. Ltd.
13.3.1 Company Overview
13.3.2 Financials
13.3.3 Product/Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 BioBag Americas, Inc.
13.4 Company Overview
13.4.2 Financials
13.4.3 Product/Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Avery Dennison Corporation
13.5.1 Company Overview
13.5.2 Financials
13.5.3 Product/Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Bi-Ax International Inc.
13.6.1 Company Overview
13.6.2 Financials
13.6.3 Product/Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Cortec Corporation
13.7.1 Company Overview
13.7.2 Financials
13.7.3 Product/Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Clondalkin Group
13.8.1 Company Overview
13.8.2 Financials
13.8.3 Product/Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Paco Label
13.9.1 Company Overview
13.9.2 Financials
13.9.3 Product/Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Layfield Group
13.10.1 Company Overview
13.10.2 Financials
13.10.3 Product/Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11 Polystar Plastics Ltd.
13.11.1 Company Overview
13.11.2 Financials
13.11.3 Product/Services Offered
13.11.4 SWOT Analysis
13.11.5 The SNS View
13.12 Futamura Chemical Co. Ltd.
13.12.1 Company Overview
13.12.2 Financials
13.12.3 Product/Services Offered
13.12.4 SWOT Analysis
13.12.5 The SNS View
13.13 Walki Group Oy
13.13.1 Company Overview
13.13.2 Financials
13.13.3 Product/Services Offered
13.13.4 SWOT Analysis
13.13.5 The SNS View
13.14 Plascon Group
13.14.1 Company Overview
13.14.2 Financials
13.14.3 Product/Services Offered
13.14.4 SWOT Analysis
13.14.5 The SNS View
13.15 Groupe Barbier
13.15.1 Company Overview
13.15.2 Financials
13.15.3 Product/Services Offered
13.15.4 SWOT Analysis
13.15.5 The SNS View
13.16 TRIOWORLD INDUSTRIER AB
13.16.1 Company Overview
13.16.2 Financials
13.16.3 Product/Services Offered
13.16.4 SWOT Analysis
13.16.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
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