In an article published on April 9, 2019, by news provider Greener Package, reporter Anne Marie Mohan discusses a recent study that reports an expected increase in demand for biodegradable plastic films. Demand for the material is forecasted “to climb 5.4% yearly to $122 million in 2023” and for food packaging to account for 62% of this demand.
Biodegradable plastic bags are also expected to soon be in higher demand, with these increases thought to be led by expanding compositing infrastructure and government initiatives to reduce the amount of waste sent to landfills. All types of specialty films are reported to expect a 4% annual increase in demand with an estimated value of $9 billion in 2023, with water soluble and biodegradable segments forecasted to grow the fastest.
Anne Marie Mohan (April 9, 2019). “Landfill reduction efforts drive growth for biodegradable films.” Greener Package
Freedonia Group (March 2019). “Specialty Films: 7th Edition.”