Biopolymer Films Market Size

Biopolymer Films Market Size

Biopolymer Films Market size was registered at about USD 4 billion in 2021 and is anticipated to showcase considerable growth at a CAGR of 8.4% from 2022 to 2028 owing to the growing demand for bio-based packaging solutions. Favouring government regulations on the use of bio-based polymers over synthetic ones has been positively influencing the global market share in recent years.

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For instance, the U.S. FDA has formulated directives for using biopolymer films in food packaging applications, particularly due to zero toxicity associated with these films. For instance, PLA and cellulose films are chiefly used in food wrapping applications.

Food packaging has been prominent in North America and Europe, creating widespread product applications in these regions. In addition, improving socio-economic factors in the Asia Pacific along with the increasing working population in the region, particularly India, will be a key factor driving product demand over the forecast timeframe.

The opening of various food joints, such as Burger King, Subway, etc., in the Asia Pacific will stimulate biopolymer film demand in food packaging applications. Additionally, growing consumer awareness across the globe, in terms of environmental protection and reducing harmful solid waste (synthetic plastics), will complement the global biopolymers films market share by 2028.

Other key factors propelling the industry growth include robust growth across pharmaceutical, home & personal care, etc. However, the growth will be hindered by comparatively uncompetitive product features compared to synthetic films such as PE & PP films.

High product costs compared to synthetic and semi-synthetic films are likely to impede the biopolymer films market in the coming years. Biopolymer films are three to four times more expensive than polyethylene films, which is attributed to their low production volume. A relatively low vapor barrier and mechanical properties of the product may hamper the market during the forecast period. However, technological advancements have led to the development of multilayer films and atomic layer deposition, which are likely to generate plentiful opportunities for the market in the coming years.