Biodegradable Food Packaging Films Market Highlights 2020-2029
The biodegradable food packaging films market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The rapid increase in non-biodegradable food packaging waste has caused adverse environmental concerns. This has led to the development of polymers made from renewable resources for food packaging. Natural polymers derived from agricultural products (such as starch, proteins, cellulose, and plant oils) are the primary resource for developing renewable and biodegradable polymer materials. The growth of the market can also be attributed to factors such as the increasing demand of food and beverages products as well as rising concern in environment and food safety amongst individuals on a global level. According to the European Bioplastics, Global production capacities of bioplastics in the year 2019 and 2020 were 1.95 million tons and 2.11 million tons respectively.
The market is segmented based on type into PLA, Starch Blends, Biodegradable Polyesters, PHA and others, out of which, PLA segment is anticipated to grab the largest share by the end of 2021 on account of instant availability of raw materials and rising demand of biopolymers in the food and beverages packaging industry. Raw materials used in the manufacturing of biodegradable food packaging such as PLA, PHA, starch, and PBS have volatile prices.
On the basis of application, the dairy products segment in the global biodegradable food packaging films is projected to grow with a significant CAGR over the forecast period. The growth of the segment is mainly driven by rise in urban population and demand for dairy product has been increased in past few decades. However, challenges such as contamination of packaged food and chemicals used in packaging material hamper the market growth.
Biodegradable Food Packaging Films Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing growth of food packaging and beverage packaging industries and increasing demand for dairy products in the region. Furthermore, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, owing to the growing investment in research and development in the food and beverages packaging industry. Alternatively, the market in Europe is also anticipated to occupy a significant share in the biodegradable food packaging films market on account of the production capacity of bioplastics in the region. As per the European Bioplastics, the production capacity of bioplastics in Europe in 2020 was 0.55 million tons, which is 26% of the total bioplastic capacity.
The global biodegradable food packaging films market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global biodegradable food packaging films market includes the following segments:
By Type
- PLA
- Starch Blends
- Biodegradable Polyesters
- PHA
- Others
By Application
- Dairy products
- Bakery
- Confectionery
- Convenience foods
- Fruits & vegetables
- Sauces, dressings and condiments
- Others
Growth Drivers
- Rising concern in environment and food safety
- Development of biodegradable food packaging material
Challenges
- Lack of Awareness about disadvantages of non-biodegradable food packaging in lower economic regions
Top Featured Companies Dominating the Market
- BASF SE
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Clearwater Paper Corporation
- Georgia-Pacific LLC
- Mondi Group
- Novamont S.P.A
- Rocktenn, International Paper
- Natureworks
- Biopac
- Other Major Players
