Biodegradable Food Packaging Films Industry - 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 industry is likely to dominate majority revenue share by 2037, owing to increasing growth of food and beverage packaging industries, along with 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 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.
