The global biodegradable mulch film market size was valued at USD 63.8 million in 2023. The market is projected to grow from USD 68.0 million in 2024 to USD 126.8 million by 2032 at a CAGR of 8.1% during the 2024-2032 forecast period. According to a report by Fortune Business Insights, titled “Biodegradable Mulch Film Market Size, Share & Industry Analysis, By Plastic Type (Thermoplastic Starch, Aliphatic-Aromatic Copolyesters, Controlled Degradation Masterbatches), By Composition (Starch, Starch Blended with Polylactic Acid, Starch Blended with Polyhydroxyalkanoate, Others), By Crop (Fruits & Vegetables, Grains & Oilseeds, Plants & Flowers) and Regional Forecast, 2024-2032,” the market will benefit from the increasing number of company collaborations across the world.
List of companies profiled in the report:
- BASF SE
- Kingfa SCI. & TECH. CO. LTD.
- BioBag International AS
- RKW Group
- AEP Industries Inc
- Al-Pack Enterprises Ltd.
- Novamont S.p.A.
- Iris Polymers
- Organix Solutions
- Petralene Pvt Ltd
The recent coronavirus outbreak has brought major businesses to a standstill. The rapid spread of the disease has urged governments to take strict measures. Accounting to the strict lockdowns imposed in several countries across the world, companies are affected in a negative manner. The report includes the impact on Covid-19 pandemic on the global market and discusses how major companies are coping with this.
Biodegradable mulch films are products that are used as an alternative to plastic films in weed control in agricultural activities. The rising demand for sustainable and eco-friendly products has been a major factor that has influenced the growth of the market in recent years. The increasing awareness regarding the adverse effects of plastic and plastic derivatives on the environment and the concerns surrounding plastic wastes have led to an increase in the demand for bio-degradable products. Recent advancements in mulch films have been pivotal to the growth of the market, especially the materials that have been integrated during manufacturing. The presence of several large scale companies, coupled with increasing agricultural activities will emerge in favor of market growth. Additionally, the demand for sustainable and effective agricultural activities will subsequently influence the growth of the market.
Information Source: https://www.fortunebusinessinsights.com/biodegradable-mulch-film-market-102759
Increasing Agriculture Activities will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Several factors have influenced the growth of the market in recent years and the demand for sustainable farming has evidently had the highest impact on market growth. The increasing concerns surrounding global warming and depletion of resources has created the need for sustainable solutions. The demand for environment friendly products is not just limited to the agricultural sector and the biodegradable mulch films can be widely used in other purposes. The benefits of these products include reduced water consumption and cost-effectivity. The ability of biodegradable mulch films limits the use of pesticides and herbicides will also fuel the demand for the products across the world. Additionally, the presence of several large scale companies across the world will have a huge impact on the growth of the market in the coming years.
North America to Emerge Dominant; Adoption of Modern Cultivation Methods to Emerge in Favor of Market Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is projected to emerge dominant in the coming years. The increasing demand for modern cultivation methods has given the platform for companies in this sector. Recent advances in material used in biodegradable mulch films have allowed a wider application scope. Additionally, the increasing adoption of sustainable farming in the United States will fuel the demand for the product in this region. The presence of several government subsidies associated with sustainable farming and the role of biodegradable mulch films in sustainable farming will have a huge impact on the growth of the regional market.
