The global biodegradable mulch film market was valued at $34,145.1 thousand in 2016 and is projected to reach $64,039.0 thousand by 2023, progressing at a CAGR of 9.4% during the forecast period (2017–2023). The starch category under raw material held the largest revenue share in the market during the historical period.
As per study, the polyhydroxyalkanoate (PHA) category is expected to witness fastest growth in terms of both value and volume in the market during the forecast period. This can be attributed to the increasing demand for PHA from the agriculture sector, owing to its biodegradability and biocompatibility nature.
Starch-Based Biodegradable Mulch Film Is a Recent Market Trend
The adoption of starch-based mulch film is observed as the key trend in the biodegradable mulch film market. Starch as a raw material is less expensive and is also abundantly available. Starch-based biodegradable mulch film offers weed control, improved soil structure, and crop prevention of from soil contamination. Owing to these attributes, farmers have shifted their focus toward the adoption of starch as a raw material.
Awareness of Harmful Effect of Inorganic Mulch Drives the Market Growth
Growing awareness regarding harmful effects of inorganic mulching is a major growth driver for the market. Inorganic mulching materials are produced with petroleum-based plastics, majorly non-compostable polyethylene, which leads to environmental and human health concerns due to disposal issue. On the other hand, organic mulch film materials are obtained from plants and animals. These organic materials have property of biodegradability, which helps increase the fertility of the soil and causes no harm to environment.
Segmentation Analysis of Biodegradable Mulch Film Market
The starch category under raw material segmentation held the largest volumetric share in the biodegradable mulch film market 2016, and is expected to maintain the same trend during the forecast period. This can be mainly attributed to its high compatibility with different soil types, biodegradability, and low raw material cost.
The fruit & vegetables category in terms of crop type is projected to witness fastest growth, by value, during the forecast period. The consumption of fruit and vegetables is comparatively much higher than other crops, such as flowers, grains, and oilseeds. Rise in global population increases consumption of fruits and vegetables.
Geographical Analysis of Biodegradable Mulch Film Market
Together, APAC and Europe are expected to account for over 60% share, in terms of volume in the global biodegradable mulch film market by 2023. This can be mainly attributed to increasing in population, which is expected to rise the demand for food in India, China, South Korea, and other countries.
Other geographies, which include North America and LAMEA, also hold considerable shares in the market, on account of increasing demand for biodegradable mulch film, owing to the growing population in U.S., Brazil, and South Africa.
The U.S. is expected to lead the North American market, generating revenue of over $5,728 thousand by 2023. This can be mainly attributed to the increase in demand for food to growing population.
Browse report overview with 117 tables and 65 figures spread through 142 pages and detailed TOC on "Biodegradable Mulch Film Market by Raw Material (Starch, Polylactic Acid, PHA), by Crop Type (Fruits & Vegetables, Grains & Oil Seeds, Flowers & Plants), by Geography (U.S., Canada, Mexico, Germany, U.K., France, Italy, Russia, China, India, Japan, South Korea, Australia, Brazil, Argentina, South Africa) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2016-2023" at: https://www.psmarketresearch.com/market-analysis/biodegradable-mulch-film-market
Brazil held the largest market share in the LAMEA region, owing to the increased use of organic mulch film from biodegradable resources, as it allows the production of crops at large scale at a time, which is difficult to attain with inorganic mulching.
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.