Dublin, Aug. 21, 2020 (GLOBE NEWSWIRE) -- The "Biodegradable Films Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), Applications (Food Packaging, Agriculture & Horticulture, Cosmetic & Personal Care Products Packaging, Industrial Packaging), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global biodegradable films market is estimated to be USD 1.1 billion in 2020 and projected to reach USD 1.5 billion by 2025, at a CAGR of 6.6%.
The growing awareness regarding plastic waste and its adverse impact on the environment is one the primary factors driving market growth. Moreover, factors like growing demand from the food packaging industry, and high demand from the agriculture & horticulture sectors are also contributing toward the market growth of biodegradable films.
PLA is estimated to lead the biodegradable films market, by type in terms of volume during the forecast period
By type, PLA is estimated to be the largest segment in biodegradable films market in 2020. It is largely used in the packaging industry because it does not have a negative impact on food prices or its supply. It is often blended with starch to increase biodegradability and reduce cost.
The key applications of PLA are thermoformed products, such as drink cups, takeaway food trays, containers, and planter boxes. It has good rigidity and allows for the replacement of polystyrene and PET in such applications. PLA is being adopted rapidly as it is more economical to manufacture as compared with the synthesis of other biodegradable plastics.
Food packaging is estimated to be the fastest growing segment in biodegradable films market, by application
By application, food packaging is estimated to be the fastest-growing application of biodegradable films. Egg trays, edible coating, paper boards, wrapping films, and food containers are some of the common applications of biodegradable films in the food packaging industry. PLA, starch blends, PBS, PHA, and cellulose are the most widely used biodegradable films in the food packaging industry.
Increasing demand for more sustainable packaging material for fast food and ready to eat food is driving the growth of biodegradable films in food packaging application. Biodegradable films are mainly used in fresh & frozen food packaging as well as the packaging of dried snacks & candy, and bakery goods among others.
Asia-Pacific biodegradable films market is projected to grow at the highest CAGR during the forecast period, in terms of value
Asia-Pacific is projected to be the fastest-growing market for biodegradable films during the forecast period. The use of biodegradable films is increasing due to environmental regulations. The rising government regulations regarding the ban on conventional plastic bags and global warming initiatives are expected to drive the demand for biodegradable films for packaging applications in Asia-Pacific.
The report defines, segments, and projects the biodegradable films market based on type, application, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges. It strategically profiles key players and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments, such as new product launches, expansions, and partnerships undertaken by them in the market.
The biodegradable films market report is dominated by players 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), and Cortec Corporation (US).
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities in the Biodegradable Films Market
4.2 Biodegradable Films Market, By Region
4.3 Europe Biodegradable Films Market, By Country and Application
4.4 Biodegradable Films Market, By Type
4.5 Biodegradable Films Market, By Application
5 Market Overview
5.2 Market Dynamics
18.104.22.168 High Demand from Food Packaging Industry
22.214.171.124 Shift in Consumer Preference Toward Eco-Friendly Plastic Products
126.96.36.199 Focus of Governments on Green Procurement Policies
188.8.131.52 Higher Cost of Biodegradable Films Compared to Conventional Plastic Films
184.108.40.206 Steadily Growing Bioplastic Industry Worldwide
220.127.116.11 Growing Demand for Biodegradable Films in Composting Applications
18.104.22.168 Performance Issues Related to Biodegradable Films
5.3 Porter's Five Forces Analysis
6 Biodegradable Films Market, By Type
6.3 Starch Blends
6.4 Biodegradable Polyester
7 Biodegradable Films Market, By Application
7.2 Food Packaging
7.3 Agriculture & Horticulture
7.4 Cosmetics & Personal Care Products Packaging
7.5 Industrial Packaging
8 Biodegradable Films Market, By Region
8.3 North America
8.5 Middle East & Africa
8.6 South America
9 Competitive Landscape
9.2 Winners vs. Tail-Enders
9.3 Competitive Landscape Mapping, 2019
9.3.1 Visionary Leaders
9.3.3 Dynamic Differentiators
9.3.4 Emerging Companies
9.4 Competitive Benchmarking
9.4.1 Strength of Product Portfolio
9.4.2 Business Strategy Excellence
9.5 Market Ranking of Key Players
9.6 Competitive Scenario
9.6.2 New Product Launches
10 Company Profiles
10.1 BASF SE
10.2 Plascon Group
10.3 Walki Group OY
10.4 Futamura Chemical Co. Ltd.
10.5 Cortec Corporation
10.6 Bi-Ax International Inc.
10.7 Biobag Americas, Inc.
10.8 Taghleef Industries
10.9 Clondalkin Group
10.10 Other Companies
10.10.1 TIPA Corp. Ltd.
10.10.2 Polypak S.R.O.
10.10.3 Plastika Kritis SA
10.10.4 Trioplast Industrier AB
10.10.5 Groupe Barbier
10.10.6 Kingfa Sci. & Tech. Co. Ltd.
10.10.7 PACO Label
10.10.8 Layfield Group
10.10.9 Polystar Plastics Ltd.
10.10.10 Avery Dennison Corporation
For more information about this report visit https://www.researchandmarkets.com/r/39y3qn
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