Biodegradable Plastic Films Market Size, Share & Trends Analysis Report By Type (Starch Blends, Polylactic Acid, Poly(butylene adipate-co-terephthalate), PBS, PHA), By Application, By End Use, By Region, And Segment Forecasts, 2023 - 2030

Biodegradable Plastic Films Market Size, Share & Trends Analysis Report By Type (Starch Blends, Polylactic Acid, Poly(butylene adipate-co-terephthalate), PBS, PHA), By Application, By End Use, By Region, And Segment Forecasts, 2023 - 2030

Biodegradable Plastic Films Market Growth & Trends

The global biodegradable plastic films market size is expected to reach USD 1.92 billion by 2030, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.64% from 2023 to 2030. Rising consumer awareness of pollution and environmental degradation, along with various governmental initiatives to maintain the integrity and safety of the environment, are likely to drive the market over the forecast period.

Biodegradable films are produced with biodegradable additives during the manufacturing process. These additives are composed of polysaccharides, fatty components, and proteins, which aid in the degradation of the plastic. Increased consumer awareness of plastic pollution and its severe environmental consequences is predicted to drive demand for more sustainable packaging solutions, including biodegradable films.

The development in the agriculture industry mainly in Asia Pacific countries including India, Japan, Indonesia, and China, is expected to create demand for biodegradable plastic films in the industry. Organic mulching materials are biodegradable films produced from plants and animals that offer advantages such as weed control, soil structure preservation, and crop pollution protection.

Biodegradable plastic films are expected to be ideal alternatives to traditional plastic films owing to their sustainability, nontoxicity, and environmentally friendly characteristics. Increasing consumer preferences, government rules, and company standards are likely to boost biodegradable plastic films over the forecast period. Furthermore, biodegradable plastic films are commonly utilized in the food industry for food packaging, which helps to maintain product quality. It provides durability and printability.

Biodegradable Plastic Films Market Report Highlights

• Europe dominated the overall market for biodegradable plastic films, while North America is expected to expand at a CAGR of 7.92% in terms of revenue over the forecast period. The growing healthcare industry is expected to boost demand for biodegradable plastic films in the region. Biodegradable plastic films are utilized in the packaging of medical devices, instruments, and equipment
• Starch blends dominated the type segment of the biodegradable plastic films industry in 2022. Starch blends based biodegradable films are used for food packaging, bags, and disposable cutlery as they offer barrier against gases
• Food & beverage dominated the end-use segment in the market accounting for over 33.50% in terms of revenue. The rise in demand for sustainable products and environmental consciousness, along with rising demand for conventional packaging solutions, is likely to drive market expansion
• In July 2023, Cortec Corporation launched the first biodegradable corrosion-inhibiting film, Eco-Corr Film. It incorporates Cortec's patented VpCI Technology and offers barrier, contact, and vapor-phase corrosion protection to the product

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