[FURL=https://www.industryarc.com/Research/Mulch-Films-Market-Research-505106]Mulch Films Market [/FURL] is forecast to reach $5.70 billion by 2025 after growing at a CAGR of 7% during 2020-2025. Mulch films are widely used on the soil to reduce weed growth and enhance crop yield. They are also used for retaining moisture levels in the soil and protecting the soil from Ultraviolet (UV) rays. Rising demand from the agriculture sector are expected to drive the market growth.Key Takeaways
Asia-Pacific dominates the mulch films market owing to increasing demand from growing horticulture sector in the region.
Increasing demand for food and growing population are the major driving factors for this market.
Environmental hazards caused due to plastics and high labor cost incurred by manufacturers to remove plastic mulch films after harvest are the restraints in the market.
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Mulch Films Market Segment Analysis - Geography
APAC dominates the mulch films with a share of more than 40% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing the increasing population, especially in China and India, resulted in the increasing demand for food, which leads to an increased usage of mulch films in crop production. The government is also taking necessary steps to improve the productivity of crops. In January 2020, in China, the government’s National Development and Reform Commission stated that China wants to promote non-plastic products, including biodegradable mulch film, in the agriculture sector. Additionally, in India, the government estimated the quantity production for pulses for the coming years, which significantly raises the demand for mulch films. According to Seed Division, 3,975,165 quintal pulses are to be farmed during 2020-2021, with an increment of 308,947 quintals compared to the year 2019-2020. These factor will drive the growth of the mulch films market in the region.
Mulch Films Market Drivers
Awareness of the use of mulch films will drive the market growth in the forecast period
Eco-friendly properties of mulch films will drive the growth of the market in the forecast period
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the mulch films market. In 2019, the market of mulch films has been consolidated by the top five players accounting for xx% of the share. Major players in the mulch films market are Dow Chemical Company, BASF SE, FKuR Kunststoff GmbH, Novamont S.p.A., Berry Global Inc., and Others.
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