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Biodegradable Mulch Film Market size is estimated to reach US$5.9 billion by 2027, after growing at a CAGR of 7.8% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, February 10, 2023 /EINPresswire.com/ -- The Biodegradable Mulch Film Market size is estimated to reach US$5.9 billion by 2027, after growing at a CAGR of 7.8% during the forecast period 2022-2027. Biodegradable Mulch Film is a film utilized to prevent heat from reaching the plant's roots for modifying soil temperature, limiting weed growth, preventing moisture loss and for improving crop yield. It is made up of raw materials such as polylactic acid, polyhydroxyalkanoate and others. The growing government initiatives for increasing crop production are driving the growth of the biodegradable mulch film industry. Also, the rising demand for high-quality and quantity of crops, along with the growing organic food industry is focusing on increasing organic food crops, by utilizing biodegradable mulch film. Owing to such factors, the demand for biodegradable mulch film, made up of biodegradable plastic such as thermoplastic starch (TPS), controlled degradable masterbatches and others, is expected to grow significantly over the forecast period. The economic downturn caused by the COVID-19 pandemic resulted in a huge drop in the demand for plantation crops, floriculture and others, all across the world. This had a significant impact on the growth of the Biodegradable Mulch Film market size.

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Key takeaways:

This IndustryARC report on the Biodegradable Mulch Film market highlights the following areas -

1. The Asia-pacific region dominates the Biodegradable Mulch Film Market owing to the rising growth in the agriculture industry. According to the United States Department of Agriculture (USDA), in 2022, Japan’s rice production for the marketing years 2021 and 2022 is at 7.64 million metric tons (mmt), up from 7.57 million metric tons (mmt).

2. Rapidly rising demand for Biodegradable Mulch Films due to the initiatives taken by the government and the increase in agricultural production in various countries have driven the growth of the Biodegradable Mulch Film market.

3. The increasing demand for Biodegradable Mulch Film for high-quality and quantity of crops, due to its usage in the restoration of soil moisture, has been a critical factor driving the growth of the Biodegradable Mulch Film market in the upcoming years.

4. However, the high cost of the installation of Biodegradable Mulch Films can hinder the growth of the Biodegradable Mulch Film market.

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Segmental Analysis:

1. Biodegradable Mulch Film Market Segment Analysis – By Crop Type : The growing popularity of organic crop protection products has increased the demand for biodegradable mulch films among farmers. The emerging trend of consuming organic and clean-label foods is expected to boost the utilization of horticulture crops. According to the government of Canada, the Minister of Agriculture and Agri-Food announced an investment of up to US$297.3 million for the Prairie Organic Development Fund (PODF) to enable farmers to adopt best practices in organic farming production. With the growing demand for horticulture crops, the market growth for Biodegradable Mulch Film would further rise over the forecast period.

2. Biodegradable Mulch Film Market Segment Analysis – By End-use Industry : The agriculture segment held a significant Biodegradable Mulch Film market share in 2021 and is projected to grow at a CAGR of 8.2% during the forecast period 2022-2027. The demand for biodegradable mulch film is rising to protect the crops from modifying soil temperature, prevent moisture loss and for improving crop yield.

3. Biodegradable Mulch Film Market Segment Analysis – By Geography : The Asia-pacific region held the largest Biodegradable Mulch Film market share of up to 45% in 2021. APAC region is one of the leading biodegradable mulch film manufacturers globally, with China and India being the key consumers and suppliers of agricultural films. Biodegradable mulch films are made up of biodegradable plastic such as thermoplastic starch (TPS), controlled degradable masterbatches and others. They are used in the greenhouse, silage clamps and able to reduce the amount of water lost from the soil due to evaporation so that less water is required for irrigation and other applications.

Competitive landscape:

The top 5 players in the Biodegradable Mulch Film industry are:

1. BASF SE
2. Kingfa Sci & Tech Co Ltd.
3. BioBag International AS
4. AEP Industries Inc.
5. RKW SE

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Related Reports:

A. Mulch Films Market
https://www.industryarc.com/Research/Mulch-Films-Market-Research-505106B.

B. Agricultural Films Market
https://www.industryarc.com/Report/16459/agricultural-films-market.html

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