Biodegradable Film Market Expected to Reach $2.3 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Biodegradable Film Market," The biodegradable film market was valued at $1.1 billion in 2022, and is estimated to reach $2.3 billion by 2032, growing at a CAGR of 7.4% from 2023 to 2032.

Biodegradable film refers to a type of thin material that breaks down naturally into harmless components when exposed to environmental conditions, such as moisture, sunlight, and microorganisms. Unlike traditional plastic films made from non-renewable resources such as petroleum, biodegradable films are typically derived from renewable sources like plant-based materials (e.g., corn, potato, sugarcane, etc.) or other biopolymers.  

 Biodegradable mulch films have gained popularity in agriculture as they help suppress weeds, retain soil moisture, and biodegrade naturally after use, reducing the need for plastic waste management in farming practices. This factor is contributing to the growth of the biodegradable films market during the forecast period.  

However, biodegradable films have a shorter shelf life compared to traditional plastics. They are more susceptible to moisture and temperature changes, which impact their mechanical properties and lead to a reduced product lifespan. The performance of biodegradable films vary depending on the material used and the specific application. Some biodegradable films do not have the same strength, barrier properties, or flexibility as conventional plastics, making them less suitable for certain applications.  

The surge in demand for metal from various end use industries such as, automotive, electrical, building & construction, and others. In addition, extensive use of biodegradable films product in the R&D field and formulation of various pharmaceutical drug, vitamins, and essential oil are expected to boost the market growth. These factors together are projected to create remunerative opportunities for the expansion of the biodegradable films market during the forecast period. The biodegradable films market is segmented on the basis of raw material, application, and region.  

By raw material, the market is segregated polylactic acid (PLA), biodegradable starch, polyhydroxyalkanoates (PHA), and others (Algae, polyester, Chitosan, PBAT). The biodegradable starch segment dominated the global market in terms of revenue in 2022, with 41% of the total share. As consumers and businesses shifted their focus toward bio-based and renewable materials, starch-based biodegradable films found applications in diverse industries, including food packaging, agriculture, and healthcare. These factors together are expected to offer lucrative opportunities for the biodegradable films market.  

By application, the global biodegradable films market is segmented into food packaging, agriculture mulching, pharmaceutical packaging, and others. The food packaging application dominated the global market in terms of revenue in 2022, with 40% of the total share. Biodegradable films used in food packaging are designed to maintain the freshness and quality of food products while ensuring safety. These films provide adequate barrier properties, moisture resistance, and protection against external contaminants.

Adopting biodegradable films in food packaging enhances a brand's environmental image and demonstrates a commitment to sustainability. It attract environmentally conscious consumers and build trust in the brand's responsible practices. Biodegradable films are used to package bakery items such as bread, pastries, and cookies, as well as confectionery products such as candies and chocolates. These films provide a barrier against moisture and contaminants, keeping the products fresh and safe for consumption. Biodegradable films are used in packaging for ready-to-eat meals, salads, and sandwiches. 

Region-wise, the biodegradable films market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific biodegradable films market is projected to grow at the highest CAGR during the forecast period. This is attributed to the fact that, ongoing research and development in India have led to advancements in biodegradable film materials and production methods, making them more viable and cost-effective. The packaging industry in Australia is evolving to meet consumer demands for sustainable and eco-friendly options. Biodegradable films are gaining traction as a more environmentally responsible packaging solution. These factors are anticipated to boost the Asia-Pacific biodegradable films industry during the forecast period.  

Key players that operate in the global biodegradable films market include, Amtrex Nature Care Pvt Ltd., SOLOS POLYMERS PVT. LTD., Plascon Group., ENVIPLAST, Xinle Huabao Medical Products Co., Ltd., Tilak Polypack Private Limited, EcoBharat, POLYNOVA Industries Inc., Magical Film Enterprise Co., Ltd., Suprabha, and Chintec.  

Key Findings: 

• On the basis of raw material, the biodegradable starch segment is expected to grow at a CAGR of 7.3%, in terms of revenue, during the forecast period.  

• Depending on application, the food packaging segment is expected to grow at a CAGR of 7.8%, in terms of revenue, during the forecast period.  

• Region wise, Asia-Pacific garnered a share of  around 40% in 2022.  

• North America garnered a more than one-fourth share in 2022.