Global Biodegradable Film Market Set to Reach USD 1,880.7 Million by 2034 Amid Growing Sustainability Efforts | Says FMI

Canada's biodegradable film market is set for a 3.7% CAGR, driven by stricter sustainability standards and expanded production by firms like Polykar Industries. NEWARK, DE, UNITED STATES, December 30, 2024 /EINPresswire.com/ -- The biodegradable film market is poised for steady growth, with an estimated market value of USD 1,258.4 million in 2024, projected to reach USD 1,880.7 million by 2034. The market is expected to grow at a compound annual growth rate (CAGR) of 4.1% during the forecast period, driven by increasing demand for sustainable packaging solutions.

Rising environmental concerns and the need to reduce waste generation have positioned biodegradable films as a preferred choice among both consumers and manufacturers. Their ability to minimize waste is becoming crucial as industries and individuals alike focus on sustainability.

Biodegradable Film refers to a type of material, typically used in packaging or agriculture, that is designed to break down naturally into environmentally friendly components like water, carbon dioxide, and biomass under specific conditions, such as the presence of microorganisms, heat, and moisture.

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Key factors driving the biodegradable film market include:

• Medical Applications: Disposable food serving solutions in hospitals are creating significant opportunities for biodegradable films, thanks to their convenience and eco-friendly disposal capabilities.

• Secure Food Packaging: The need for safe and sustainable packaging for meat and fish is further propelling demand for biodegradable films.
• Bioplastics Integration: Manufacturers are increasingly adopting bioplastics to achieve environmentally friendly packaging solutions without sacrificing the functional benefits of plastics.

Despite these growth drivers, the biodegradable film market faces challenges. Concerns about the degradability of additive-based films, particularly in landfills, have raised questions about their environmental impact. Additionally, biodegradable films often lack the durability and security provided by traditional plastics, limiting their application scope.

However, innovation in materials and manufacturing processes is addressing these limitations. Companies are focusing on enhancing the toughness and functional properties of biodegradable films to expand their usability across various industries.

The biodegradable film market reflects a significant shift towards sustainable practices, with businesses and consumers aligning their efforts to reduce environmental impact. As technology and awareness evolve, the market is expected to play a vital role in the global transition to eco-friendly packaging solutions.

Challenges in the Biodegradable Film Market and Their Global Impact

• High Production Costs
The manufacturing process for biodegradable films involves advanced technologies and specialized raw materials, making them more expensive than conventional plastic films. This cost disparity limits their adoption in price-sensitive markets.
• Limited Infrastructure for Composting
A lack of widespread industrial composting facilities hinders the proper disposal of biodegradable films, often resulting in them being treated as regular waste, undermining their environmental benefits.
• Performance Trade-offs
Biodegradable films may lack the durability, flexibility, or barrier properties of traditional plastic films, making them less suitable for certain applications, such as heavy-duty packaging.
• Consumer Awareness and Misuse
Limited public understanding of how to properly dispose of biodegradable films often leads to misuse, such as recycling them with conventional plastics, which can contaminate recycling streams.
• Regulatory and Standardization Issues
Variations in biodegradability standards and certifications across regions create confusion for manufacturers and consumers, slowing the adoption and market growth of biodegradable films.

Competitive Landscape in the Biodegradable Film Market

The development of novel materials for biodegradable films is a major concern for market participants. As a result, they are increasingly seeking funding from both public and private institutions.

Futamura Chemicals, a market leader, offers a wide selection of biodegradable films, with the company's cellulose films being particularly popular. To keep up, other market competitors are forming partnerships with end-user industries.

Recent Developments in the Biodegradable Film Market

• In December 2021, a collaboration between scientists at Harvard University and Nanyang Technological University produced a new biodegradable film made from corn protein.

• In October 2021, Rollpack was acquired by Walki Group, with the latter expanding its footprint in the market.

• In February 2022, it was announced that SRF would open a BOPP film manufacturing facility in Indore, India, with biodegradable films also on the agenda.

Key Companies in the Biodegradable Film Market

• Futamura Chemical Co. Ltd.
• Taghleef Industries
• Walki Group Oy
• BioBag Americas, Inc.
• Avery Dennison Corporation
• Plascon Group
• Bi-Ax International Inc.
• Cortec Corporation
• Polystar Plastics Ltd.
• Layfield Group
• Paco Label
• Groupe Barbier
• TRIOWORLD INDUSTRIER AB
• Clondalkin Group

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Key Segmentations: Biodegradable Film Market

By Material:
• Polylactic Acid (PLA)
• Polyhydroxyalkanoates (PHA)
• Polyhydroxybutyrate (PHB)
• Cellulose Based
• Starch-Based

By Application:
• Pouches
• Bags & Sacks
• Tubes
• Liners & Lidding Films
• Sachets & Stick Packs
• Tapes & Labels
• Wraps/Rolls

By End Use:
• Food
o Meat, Seafood, and Poultry
o Ready-to-Eat Meals
o Dairy
o Bakery and Confectionery
o Fresh Produce
• Beverages
o Alcoholic Beverages
o Non-Alcoholic Beverages
• Home Care
• Personal Care
• Healthcare
• Electronics & Electricals
• Other Industrial Goods

By Region:
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

Explore FMI’s related ongoing Coverage in the Packaging Domain:

The packaging film market is anticipated to be worth USD 149.6 billion in 2023, growing at a CAGR of 4.1% between 2023 and 2033. By 2033, the market is expected to be worth USD 223.5 billion.

The edible films and coatings market size is projected to be worth USD 2,210.0 million in 2023. The market is likely to surpass USD 4,871.0 million by 2033 at a CAGR of 8.2% during the forecast period.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Ankush Nikam
Future Market Insights, Inc.
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