According to a market research report, the “Biodegradable Films Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), Application (Food Packaging, Agriculture & Horticulture, Cosmetic & Personal Care Products Packaging, Industrial Packaging) and Region – Global Forecast to 2026″, 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. The market is witnessing significant growth across the world due to the increasing awareness and stringent government regulations about the use of non-biodegradable films. Biodegradable films are used in various applications such as food packaging, agriculture & horticulture, and cosmetics & personal care packaging.
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- 197 Market data Tables
- 29 Figures
- 178 Pages and in-depth TOC on “Biodegradable Films Market – Global Forecast to 2026”
This report also provides a comprehensive analysis of the companies listed below:
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) are the key players in biodegradable films market.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Biodegradable Films Market.
Recent Developments in Biodegradable Films Market Industry
- In February 2020, BASF SE partnered with Fabbri Group (Italy) to develop a new cling film for fresh food packaging. As part of the partnership, Fabbri Group will develop the stretch film, Nature Fresh, by using the certified compostable and bio-based bioplastic, Ecovio, which is offered by BASF SE. This partnership is expected to help increase the share of BASF SE in the biodegradable films market in Italy.
- In April 2021, Walki Group acquired Plasbel, the Spanish leader in sustainable packaging solutions. Plasbel helped Walki to expand its reach in Europe by offering a diverse range of food packaging solutions, as well as post-consumer recycled and compostable films for use in the retail and hospitality industries. As part of Walki’s objective to increase circularity and recyclability of packaging materials, this acquisition is a significant step. The combined entity’s complementing R&D skills enabled it becomes a leading biofilm converter with significant expansion potential across.
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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.
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
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