Present invention describes the bio-based additive formulation, prepared by simple industrial processes in 30 minutes which is industrially viable cost-effective production process and yields an elegant formulation capable to reduce the gas permeability when dispersed in hydrophobic polymers. when the additive disperses with hydrophobic polymer in melt extrusion process at pilot scale, it produces excellent biodegradable polymer films having comparable gas barrier properties with commercial polyethylene terephthalate (pet) and other conventional polymers of its kind. the melt extrusion of biodegradable polymer films has been done by using twin screw extruder having l/d ratio of 48 and throughput of ~10 kg polymer per hour. the prepared bionanocomposite films show excellent barrier properties with 10 fold reduction than that of pla.