Biodegradable Films Market 2024 - Growth, Market Size, Analysis, Competitive Landscape | BASF SE, Futamura Chemical Co. Ltd., Taghleef Industries LLC, BioBag International AS, Plascon Group

Overview and Scope
Biodegradable films refer to packaging films that are made of plastic and contain additives during production. These additives, which are often enzymes, aid in the degradation of the plastic or are made from proteins, polysaccharides, or fatty components.

Sizing and Forecast
The biodegradable films market size has grown strongly in recent years. It will grow from $1.27 billion in 2023 to $1.36 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to cost challenges and technological limitations, introduction of pilot projects, initial consumer education efforts, initiatives for waste reduction, rise in eco-friendly practices..

The biodegradable films market size is expected to see strong growth in the next few years. It will grow to $1.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to improvements in cost competitiveness, global market expansion, r&d investments, expansion in agriculture applications, global waste management concerns.. Major trends in the forecast period include shift from plastic to sustainable materials, environmental concerns and regulations, advancements in material science, demand from food packaging industry, focus on circular economy..

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Segmentation & Regional Insights
The biodegradable films market covered in this report is segmented –

1) By Type: Polylactic Acid (PLA) , Starch Blends, Biodegradable Polyesters, Polyhydroxyalkanoates (PHA) , Other Types
2) By Application: Bags, Mulch Films, Wrapping Films, Liners, Other Applications
3) By End-Use: Food And Beverage, Healthcare, Personal Care And Cosmetics, Agriculture, Metal, Glass, Other End-Users

Top Major Players

BASF SE

Futamura Chemical Co. Ltd.

Taghleef Industries LLC

BioBag International AS

Plascon Group

Asia-Pacific was the largest region in the biodegradable films market share in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the biodegradable films market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing bioplastics industry worldwide is expected to propel the growth of the biodegradable film market going forward. Bioplastic refers to a polymer that is created into a commercial product using renewable or natural resources. Bioplastics are used in biodegradable films to replace single-use plastics since they are renewable and biodegradable. For instance, in December 2021, according to European Bioplastics (EUBP), a European-based association representing the interests of the bioplastics industry, the worldwide bioplastics manufacturing capacity is set to rise significantly from around 2.4 million tonnes in 2021 to 7.5 million tonnes in 2026. Therefore, the growing bioplastic industry worldwide is driving the growth of the biodegradable film market.

Key Industry Players
Major companies operating in the biodegradable films market report are BASF SE, Futamura Chemical Co. Ltd., Taghleef Industries LLC, BioBag International AS, Plascon Group, Avery Dennison Corporation, Walki Group Oy, Bi-Ax International Inc., Cortec Corporation, Clondalkin Group, Groupe Barbier, Kingfa Sci & Tech Co. Ltd., Tipa Corp Ltd., Novamont SpA, Sigmund Lindner GmbH, Organix AG, Armando Alvarez Group, Amtrex Nature Care Pvt Ltd., Solos Polymers Pvt. Ltd., ENVIPLAST, Xinle Huabao Medical Products Co. Ltd., Tilak Polypack Private Limited, EcoBharat, Polynova Industries Inc., Magical Film Enterprise Co. Ltd., Chintec Limited, RKW Group, Dow Chemical Company, Plastiroll Oy, Mondi Group, Innovia Films Ltd., Toray Industries Inc., Mitsubishi Chemical Corporation, NatureWorks LLC, Danimer Scientific Inc., Total Corbion PLA, Synbra Technology BV

The biodegradable films market report table of contents includes:

1. Executive Summary

2. Biodegradable Films Market Characteristics

3. Biodegradable Films Market Trends And Strategies

4. Biodegradable Films Market – Macro Economic Scenario

5. Global Biodegradable Films Market Size and Growth

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32. Global Biodegradable Films Market Competitive Benchmarking

33. Global Biodegradable Films Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Biodegradable Films Market

35. Biodegradable Films Market Future Outlook and Potential Analysis

36. Appendix