SAN FRANCISCO, June 7, 2016 /PRNewswire/ -- The global biodegradable mulch films market value is expected to reach USD 64.3 million by 2024, according to a new report by Grand View Research, Inc. Growing population coupled with depleting arable land is anticipated to drive the market growth over the next eight years. Biodegradable mulch films are used to enhance crop quality by suppressing weed growth and maintaining soil temperature.
Biodegradable mulch films have a lower environmental impact as they do not produce any harmful waste, and their disposal is easy. Government regulations promoting bio-based product usage, especially in Europe and North America is expected to drive market growth over the foreseeable future. Key players in the industry have been investing in R&D to develop fully bio-based mulch films.
Fruits & vegetables emerged as the leading crop using biodegradable mulch films and accounted for 51.1% of total market revenue in 2015 and is also anticipated to witness the fastest growth over the next eight years. The high growth may be attributed to biofilm ability to prevent fruits from rotting by preventing contact between fruit and soil.
Access full research report at: http://www.grandviewresearch.com/industry-analysis/biodegradable-mulch-films-market
- Thermoplastic starch (TPS) was the leading raw material in 2015 and is expected to reach a market worth USD 47.3 million by 2024, growing at a CAGR of 7.7% from 2016 to 2024. The high demand may be attributed to the easy availability of starch at low prices coupled with an inability to produce any harmful products when placed in soil.
- Starch blended with polylactic acid (PLA) is also expected to witness a brisk growth over the forecast period. The high growth may be attributed to their advantage of being produced from 99% biobased material coupled with growing PLA films demand particularly in Europe.
- Raw Material Outlook (Revenue, USD Thousand, 2014 - 2024)
- Thermoplastic starch (TPS)
- Starch blended with polylactic acid (PLA)
- Starch blended with polyhydroxyalkanoate (PHA)
- Aliphatic-aromatic copolyesters (AAC)
- Crop Type Outlook (Revenue, USD Thousand, 2014 - 2024)
- Fruits & vegetables
- Grains & oilseeds
- Flowers & plants
- Regional Outlook (Revenue, USD Thousand, 2014 - 2024)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
- North America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
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SOURCE Grand View Research, Inc.