November 17, 2020

Why will Biodegradable Mulch Film Market Boom in Asia-Pacific in Future?

The global biodegradable mulch film market attained a value of $34,145.1 thousand in 2016 and is predicted to generate a revenue of $64,039.0 thousand by 2023. According to the forecast of P&S Intelligence, a market research company based in India, the market would advance at a CAGR of 9.4% between 2017 and 2023. The increasing public awareness of the harmful effects of inorganic mulching and the implementation of favorable government regulations are the main factors driving the market growth.

The governments of several countries are enacting supportive regulations regarding organic mulching, which is massively boosting the advancement of the market across the globe. According to the standards for degradation to compost (ISO 17088, ASTM D6400), as much as 90% of the organic carbon must be converted to carbon dioxide (CO2) that considerably reduces the incorporation of the inorganic mulching method. Besides this factor, the rising consumer preference for organic mulching materials is also fueling the market growth.

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Organic mulch film materials are produced from animals and plants. These materials have excellent biodegradable characteristics, which greatly increases the soil fertility and causes negligible environmental damage. Based on raw material, the biodegradable mulch film market is classified into starch, polylactic acid (PLA), and polyhydroxyalkanoate (PHA). Out of these, the PHA category recorded the highest growth in the market in the past years. This category is also predicted to register rapid advancement in the market in the future years.

Out of these, the fruits and vegetables category is predicted to exhibit the fastest growth in the market in the upcoming years. The higher consumption of fruits and vegetables than other crops such as oilseeds, grains, and flowers and the soaring demand for these food items, on account of the increasing global population, are propelling the expansion of the market across the world. Geographically, the biodegradable mulch film market registered the highest growth in Asia-Pacific (APAC) in the past.