"Biodegradable mulch films market projected to grow at a CAGR of 7.95%”
The global biodegradable mulch films market size is projected to grow from USD 35.76 million in 2016 to USD 52.43 million by 2021, at a CAGR of 7.95% from 2016 to 2021. The growth of biodegradable mulch films market can be attributed to the rising demand of biodegradable mulch films in greenhouse, increased applications in agriculture, and rising environmental concerns that shifted the focus of growers toward eco-friendly mulch films.
The high demand of thermoplastic starch in the biodegradable mulch films market can be attributed to its low cost, renewability, abundance, biodegradability, and availability from agricultural crops. Additionally, the environmental issues concerning the use of conventional synthetic polymers have shifted the focus of growers toward the adoption of biodegradable materials made from the renewable resources. This has driven the growth of thermoplastic starch in the biodegradable mulch film market.
“Fruits & vegetables segment is projected to grow at the fastest rate in the biodegradable mulch films from 2016 to 2021”
Fruits & vegetables segment is estimated to have the largest share in the biodegradable mulch films market in 2015 and the current trend is expected to follow during the forecast period. This can be attributed to its ability to optimally improve crop quality and enhance agricultural productivity in an eco-friendly manner by minimizing soil erosion, providing nutrients, increasing soil temperature, and suppressing the growth of weeds.
The figure below shows the breakdown of the primaries on the basis of company, designation, and region, conducted during the research study.
- By Company Type: Tier 1 – 20%, Tier 2 – 45%, and Tier 3 – 35%
- By Designation: C level – 28%, Director level – 22%, and Others – 50%
- By Region: North America – 18%, Europe – 25%, Asia-Pacific – 45%, RoW – 12%
The Asia-Pacific region is projected to grow at the highest rate in the biodegradable mulch films market. The high growth is propelled by the increasing demand for food, which in turn drives the market for biodegradable mulch films. The biodegradable mulch films help to meet the rising demand of food by increasing the agricultural production in an ecofriendly manner. China is one of the leading consumers of biodegradable mulch films. The demand is also increasing from countries like India where agriculture majorly contributes to the growth of the economy.
The biodegradable mulch films market is diversified and competitive, with a large number of players. The key players in the biodegradable mulch films market include BASF SE (Germany), Kingfa Sci & Tech Co Ltd (China), BioBag International AS (Norway), AEP Industries Inc. (U.S.), and RKW SE (Germany), while other players include British Polythene Industries PLC (U.K.), Armando Alvarez (Spain), Al-Pack Enterprises Ltd. (Canada), Novamont S.Pa. (Italy), and AB Rani Plast OY (Finland). These players have adopted various strategies such as expansions, agreements, joint ventures, mergers & acquisitions, and new product launches to expand their global presence and increase their market share.
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the biodegradable mulch films market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different segments and countries.
- The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
- To get a comprehensive overview of the global biodegradable mulch films market
- To gain wide-ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the biodegradable mulch films market is flourishing