Demand for biodegradable plastic film in the US is expected to climb 5.4 percent annually to reach $122 million USD in 2023, according to industrial research company Freedonia’s latest ‘Specialty Films’ study.
The study predicts that food packaging will remain the dominant market for biodegradable films and is expected to account for 62 percent of demand in 2023. Biodegradable films will increasingly be employed in the production of salad, produce and other food bags, as well as used increasingly in labels.
Additionally, biodegradable plastics usage in overwrap and other films – including those used as twist wrap, cut and wrap, twist film overwrap, and candy wrappers – will continue to make inroads vis-à-vis conventional films.
PLA is currently the leading product in the packaging film market and is expected to offer some of the best opportunities for growth through 2023, benefiting from favorable properties such as high clarity, twist retention, printability, strength, and flavor and aroma barriers.
Demand for biodegradable bags in the US is also expected to rise rapidly through 2023. Advances will be driven by an expanding composting infrastructure and governmental efforts to reduce landfilling, which will boost demand for compostable bags used in the collection of food scraps and other organic materials for waste diversion programs. Overall advances will be restrained to some degree by the inability to substantially widen the national scope of composting networks, as well as competition from Kraft paper bags.
Demand in the US for all types of specialty films (barrier, microporous, safety and security, conductive and insulative, light control, water soluble, biodegradable and other) is forecast to advance four percent annually to $9 billion USD in 2023. The fastest gains will be in the biodegradable and water soluble film segments, the result of rapid growth in markets such as degradable packaging for food and non-food items such as laundry detergent pods and oral drug delivery strips. Other smaller volume functions, which include tapes and release films, will also see above average gains in demand through 2023.
The 260-page ‘Specialty Films’ study can be ordered here.