The global biodegradable plastic films market was valued at US$ 1.20 billion in 2023 and is expected to reach approximately US$ 1.95 billion by 2034, growing at a compound annual growth rate (CAGR) of 4.50% from 2024 to 2034.
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Market Overview
The biodegradable plastic film market continues to expand rapidly due to the increasing demand for environmentally friendly packaging materials, particularly in the food and beverage sector. Unlike conventional plastic bags, biodegradable films decompose more easily, leaving less harm to the environment. These films are typically made from plant-based materials, resulting in a low carbon footprint during the composting process. This eco-friendly characteristic makes them a desirable alternative to traditional petroleum-based plastics, contributing to the reduction of environmental damage caused by plastic waste.
The biodegradable plastic films market also benefits from the addition of natural bioactive compounds like antioxidants, antimicrobials, and pigments, which enhance the performance of these films. These additives not only improve the mechanical properties of the films but also provide smart features that enable communication with consumers. Some biodegradable films even modify the internal atmosphere to reduce oxygen levels and increase carbon dioxide, extending the shelf life of packaged products.
Growth in Food Packaging and Service Applications
A significant driver of the biodegradable plastic films market is the growing need for sustainable packaging solutions in the food packaging and distribution industries. The material’s environmental advantages make it an excellent choice for applications such as cartons, egg trays, cloth bags, film packaging, and food packaging. Additionally, incorporating antimicrobial compounds into biodegradable plastics further improves food safety by inhibiting the growth of harmful bacteria and extending the shelf life of fruits and vegetables.
Biodegradable films are also used in food coating, composite materials, and separators for various food contents, adding versatility to their applications. The demand for disposable food products in hospitals, which offer benefits like ease of use and reduced maintenance, is also contributing to the growing adoption of biodegradable films.
Industry Developments
Environmental concerns about plastic waste and its adverse effects on ecosystems are pushing industries to transition toward biodegradable alternatives. This shift is driving the adoption of biodegradable plastic films, not only in food packaging but also in other sectors.
In September 2024, CARBIOS, a leader in biotechnologies reshaping the life cycle of plastics, and the French company SLEEVER, known for its innovations in shrink sleeve labeling machines, announced a partnership to develop a Home Compost biodegradable unidirectional transverse shrink film. This collaboration highlights the growing efforts within the industry to develop environmentally friendly alternatives.
Similarly, in May 2023, Dow and New Energy Blue entered a long-term agreement in North America to produce bio-based ethylene using regenerative agriculture. This bio-based ethylene will be used in a variety of applications, including packaging materials, further contributing to the reduction of carbon emissions in plastic production.
With these developments and the increasing environmental awareness among consumers and businesses alike, the biodegradable plastic films market is poised for sustained growth, especially in Europe where the demand for sustainable packaging solutions is particularly high.
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