The market for biodegradable films is anticipated to expand at a CAGR of 5.6%. By 2032, the market value is anticipated to have grown from US$ 1,040.1 million in 2022 to US$ 1.7 billion.

Globally, the biodegradable films market is expanding rapidly due to strict laws controlling the disposal of plastic waste and growing public awareness of environmental conservation. Renewable resources including plant starch, polylactic acid (PLA), polyhydroxyalkanoates (PHA), and others are used to create biodegradable films. These films are quite popular since they break down naturally in certain environments and don’t leave any toxic leftovers behind.

Biodegradable films are gaining popularity because of their environmental friendliness and the increased awareness of the harmful effects that plastic waste has on the environment. Biodegradable film will likely become more and more necessary as more countries across the world enact legislation to reduce the amount of plastic waste generated.

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Factors Driving the Growth of Biodegradable Films Market

Shift Towards Eco-Friendly Packaging

As consumers become more environmentally conscious, there is a growing demand for sustainable packaging solutions. Biodegradable films offer an excellent alternative to conventional plastics, reducing carbon footprint and minimizing waste accumulation in landfills.

Stringent Government Regulations

Governments worldwide are implementing stringent regulations and policies to reduce plastic waste and promote sustainable practices. These regulations create a favorable environment for the growth of the Biodegradable Films Market as companies strive to comply with these mandates.

Increasing Adoption in Various Industries

The Biodegradable Films Market is witnessing increased adoption in various industries such as food and beverages, pharmaceuticals, agriculture, and personal care. These films are being used for packaging applications like bags, pouches, wraps, labels, and more.

Global Biodegradable Films Market: Geographical Outlook

The popularity of biodegradable films in North America and Europe is expected to gaining traction owing to local governments push toward sustainability and manufacturers increased research and development activities. The ban on plastic and consumers’ acceptance for biodegradable packaging options are expected to speed up the growth of the biodegradable films market in the coming decade.

Japan, China and India are planning to reduce 100% of single-use plastic by the end of 2025, which is expected to boost the demand for biodegradable films in the Asia Pacific region. Latin America and Middle East & Africa regions witnessed sluggish growth for biodegradable films market in the past five years, which is projected to accelerate in the next decade.

Global Biodegradable Films Market: Key Players

Some of the key players operating in the global biodegradable films market are as follows:

  • Taghleef Industries Group
  • Cortec Corporation
  • Clondalkin Group
  • Futamura Group
  • Storopack, Inc.
  • Transilwrap Co., Inc.
  • Accredo Packaging, Inc.
  • POLYNOVA Industries Inc.
  • Tipa Corporation
  • Plastiroll Oy Ltd.

Global Biodegradable Films Market: Segmentation

The global biodegradable films market has been segmented into material, application, thickness, and end-user industry.

On the basis of material, the global biodegradable films market has been segmented into:

  • Bio-LDPE (Low Density Polyethylene)
  • Bio-MDPE (Low Density Polyethylene)
  • Bio-HDPE (Low Density Polyethylene)
  • Bio-based PLA (Polylactic Acid)
  • Others

On the basis of application, the global biodegradable films market has been segmented into:

  • Bags
  • Mulch Films
  • Wrapping Films
  • Liners
  • Others (Sheets, etc.)

On the basis of thickness, the global biodegradable films market has been segmented into:

  • Up to 1 mil
  • 1-3 mil
  • Above 3 mil

On the basis of end-user industry, the global biodegradable films market has been segmented into:

  • Food & Beverages
  • Healthcare
  • Personal Care & Cosmetics
  • Agriculture
  • Waste Management
  • Others

On the basis of Region, the global biodegradable films market has been segmented into:

  • North America
  • Latin America
  • Europe
  • Middle east and Africa
  • East Asia
  • South Asia
  • Oceania