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The global biodegradable mulch film market was valued at $34,145.1 thousand in 2016, and is projected to generate $64,039.0 thousand by 2023, growing with a CAGR of 9.4% during the forecast period (2017–2023).
Globally, the market is expected to witness the fastest growth in the APAC region during the forecast period. This can be attributed to the increasing demand for biodegradable mulch film across agricultural sector in China and India.
Forces Governing Biodegradable Mulch Film Market
Adoption of starch-based mulch film is observed as the key trend in the biodegradable mulch film market. Starch-based biodegradable mulch film helps in weed control, soil structure preservation, and prevention of crops from soil contamination. In addition, these films are less expensive as compared to other raw materials, and are easily available in the market. Due to these factors, farmers have shifted their focus toward the adoption of starch as a raw material.
Supportive regulation from the governments for organic mulching across the globe is one of the major factors driving the biodegradable mulch film market. As per the standards for degradation to compost (ISO 17088, ASTM D6400), 90% of the organic carbon needs to be converted to CO2, which limits the adoption of inorganic mulching technique.
The rapidly increasing global population generates major growth opportunities in the biodegradable mulch film market. With the increasing population across the globe, the consumption of food items, such as lentils, rice, wheat, and barley, is likely to increase. Increasing consumption would result in high demand for crop production, thereby driving the market for biodegradable mulch film.
Biodegradable Mulch Film Market Segmentation Analysis
The starch category under raw material segment held the largest volumetric share, accounting for 6,408.8 tons, in 2016 in the biodegradable mulch film market. This category is projected to grow at a CAGR of 8.3% during the forecast period. This can be attributed to the availability of starch at low costs, along with several benefits, such as compatibility with different soil types and environment sustainability. This has led to the increasing use of starch-based biodegradable mulch film among end users across the globe.
In the biodegradable mulch film market, the fruit & vegetables crop category is projected to exhibit the fastest volumetric growth, demonstrating a CAGR of 8.6%, during the forecast period. At present, the consumption of fruits and vegetables is comparatively much higher than other crops, such as flowers, grains, and oilseeds. With the increase in global consumption of fruits and vegetables, the demand for mulch films in this category is expected to increase.
|Market Size by Segments||Raw Material, Crop Type|
|Market Size of Geographies||U.S., Canada, Mexico, Germany, U.K., France, Italy, Russia, China, India, Japan, South Korea, Australia, Brazil, Argentina, South Africa|
|Market Players||AEP Industries Inc, AL-PACK Enterprises Ltd., Armando Alvarez Group, BioBag International AS, RPC BPI Group (British Polyethylene Industries Plc), Novamont SpA, RKW Group, Yifan Pharmaceutical Co. Ltd.|
Global Scenario of Biodegradable Mulch Film Market
The APAC region was the largest in terms of value and volume in 2016, and is expected to maintain the same trend during forecast period as well in the global biodegradable mulch film market. This can be attributed to growing population in China, India, and South Korea, creating a robust demand for agricultural yields. China is expected to lead the APAC market, generating revenue worth $13,652.7 thousand by 2023.
Competitive Landscape of Biodegradable Mulch Film Market
Some major players in the market include AEP Industries Inc., AL-PACK Enterprises Ltd., Armando Alvarez Group, BioBag International AS, RPC BPI Group, Novamont SpA, and RKW Group.
Market Size Breakdown by Segment
The Biodegradable Mulch Film Market report offers comprehensive market segmentation analysis along with market estimation for the period 2016–2023.
Based on Raw Material
Based on Crop Type
Key Questions Addressed/Answered in the Report