The global biodegradable mulch films market value
is expected to reach USD 64.3 million by 2024, according to a new report by
Grand View Research, Inc. Growing population coupled with depleting arable land
is anticipated to drive the market growth over the next eight years.
Biodegradable mulch films are used to enhance crop quality by suppressing weed
growth and maintaining soil temperature.
Biodegradable
mulch films have a lower environmental impact as they do not produce any
harmful waste, and their disposal is easy. Government regulations promoting
bio-based product usage, especially in Europe and North America is expected to
drive market growth over the foreseeable future. Key players in the industry
have been investing in R&D to develop fully bio-based mulch films.
Fruits &
vegetables emerged as the leading crop using biodegradable mulch films and
accounted for 51.1% of total market revenue in 2015 and is also anticipated to
witness the fastest growth over the next eight years. The high growth may be
attributed to biofilm ability to prevent fruits from rotting by preventing
contact between fruit and soil.
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Further key findings from the study suggest:
- Thermoplastic starch (TPS) was the leading raw material in 2015 and is expected to reach a market worth USD 47.3 million by 2024, growing at a CAGR of 7.7% from 2016 to 2024. The high demand may be attributed to the easy availability of starch at low prices coupled with an inability to produce any harmful products when placed in soil.
- Starch blended with polylactic acid (PLA) is also expected to witness a brisk growth over the forecast period. The high growth may be attributed to their advantage of being produced from 99% biobased material coupled with growing PLA films demand particularly in Europe.
- Asia Pacific was the major consumer and accounted for 64.1% of global revenue in 2015 and is expected to witness the fastest growth in the biodegradable mulch film market over the next eight years owing to growing industrialization resulting in rising food demand.
- Major companies operating in the global biodegradable mulch film industry include Kingfa Sci & Tech Co Ltd, Al-Pack Enterprises Ltd, BioBag International AS, RKW SE, AEP Industries Inc, BASF, Novamont, British Polythene Industries PLC, Armando Alvarez and Ab Rani PlastOy. Major companies have been adopting various strategies such as M&A, joint ventures, new product development and capacity expansions to increase their market share.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
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Email:
sales@grandviewresearch.com
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