Biodegradable Films Market Growth Factors, Opportunities, Ongoing Trends and Key Players 2026 from Stephen's blog

The biodegradable films market 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. This report provides a comprehensive analysis of the industry, including biodegradable films market size, trends, drivers and constraints, Competitive Aspects, and prospects for future growth. 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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Companies such as 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) fall under the winners’ category. These are leading players in the biodegradable films market, globally are some of the leading players operating in the biodegradable films market. These players have adopted the strategies of acquisitions, new product launches, collaborations,          expansions, partnerships, and contracts to increase their presence in the global market.

BASF SE is the leading player in the global biodegradable films market and is estimated to have the highest share in the market. In May 2019, BASF SE entered into an exclusive contract with Lactips (France) to market a water-soluble, 100% bio-based, and fully biodegradable film manufactured by Lactips. This biodegradable film is manufactured from natural ingredients and is applicable for home care, industrial, and institutional markets. Under this contract, BASF SE will use its expertise in network and supply chain to market the product. The contract supports BASF SE’s strategy to leverage sustainable solutions to drive business growth.

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The another important player in the global biodegradable films market is Futamura Chemical Co. Ltd.  In October 2019, Futamura Chemical Co. Ltd. launched a new compostable film, NatureFlex 30NVO. This new product is made from renewable wood pulp and is said to be the first certified compostable, heat-sealable film in the biodegradable films market. The product offers the heat resistance required for conventional and microwave ovens. This new product launch helped Futamura Chemical Co. Ltd. widen the market scope of its biodegradable film’s product portfolio.

By type,  PLA is estimated to be the leading segment of biodegradable films from 2021 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.

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.

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Europe is estimated to be the largest biodegradable films market during the 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.