Expanded Mulch Film Market Projection Reveals 8.9% Compound Annual Growth Rate through 2034
The world of agriculture is witnessing a significant shift, with the Global Mulch Film Market poised to grow from USD 5.9 billion in 2024 to an impressive USD 13.8 billion by 2034, according to recent projections. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 8.9% during the forecast period (2025-2034).
Conventionally, traditional materials dominate the mulch film market, accounting for a 78.9% share. However, the landscape is changing, with innovative solutions like biodegradable mulch films gaining traction.
The Asia Pacific region currently commands a 47.8% share of the global mulch film market, valued at USD 2.8 billion in 2024. China, in particular, has over 20 million hectares of farmland under mulch film, primarily in arid regions like Xinjiang and Inner Mongolia.
Mulch films are increasingly being used in vegetable and fruit farming to retain moisture, reduce weeds, and improve crop yields. This leads to better germination, fewer losses, and higher quality crops. In regions with water scarcity, mulch films also slow down water evaporation, reducing the need for frequent irrigation and saving water costs.
The Asia-Pacific region's dominance in the mulch film market is not surprising, given the region's extensive agricultural practices. Companies like BASF SE are advancing their ecovio certified biodegradable mulch films for specialty crops like strawberries and vegetables, aligning with sustainable farming practices.
BioBag International AS recently launched a new generation of certified compostable mulch films, BioBag Mulch Film, designed for use with automatic laying machines. These biodegradable mulch films are also being used to reduce soil plastic residue, supporting organic farming practices and sustainable farming regulations.
Kingfa, a global player, is expanding its global footprint with its biodegradable resin, PBAT, to meet rising international demand. The company is developing enhanced formulations that ensure complete biodegradation in soil without leaving microplastic residues.
Government schemes in India, such as PMKSY and MIDH, offer up to 50% subsidies, spurring mulch film use in states like Maharashtra, Karnataka, and Tamil Nadu. Subsidies of up to ₹40,000/ha have been provided to promote holistic growth of the horticulture sector, addressing field-level challenges and supporting activities like nurseries, tissue culture, and clean plant programs.
Yibiyuan Water-Saving Equipment Technology Co., Ltd. is integrating mulch films with advanced drip irrigation systems, creating synergistic kits for large-scale agricultural applications. This integration aims to further optimise water use efficiency and crop yields.
Interestingly, black mulch film holds a 39.4% share in the global mulch film market. This colour is favoured for its ability to absorb heat and warm the soil, benefiting early-season crops.
In conclusion, the mulch film market is expanding, driven by its benefits in water conservation, weed control, and improved crop yields. The shift towards biodegradable mulch films and integration with advanced irrigation systems indicates a promising future for sustainable and efficient agriculture.
Read also:
- Trade Disputes Escalate: Trump Imposes Tariffs, India Retaliates; threatened boycott ranges from McDonald's, Coca-Cola to iPhones
- Aquatech purchases Koch's Direct Lithium Extraction business, merging Li-ProTM DLE technology into the PEARLTM Technology Platform.
- Nepal's Journey: Evolution from Street Life to Political Power
- Li Auto faces scrutiny after crash test involving i8 model and a truck manufacturer sparks controversy
