The presently disclosed subject matter is generally directed to a packaging film constructed from water-dispersible and/or biodegradable compositions. Particularly, the disclosed film comprises a first layer constructed from one or more water-dispersible materials, such as water-dispersible paper. The film further comprises a second layer constructed from one or more biodegradable materials, such as poly(hydroxyalkanoate). The first and second layers can be constructed to form a packaging material used to enclose a wide variety of products, including liquids and moisture-sensitive solids. Advantageously, the disclosed film (and associated packaging materials) are dissolvable in water and/or biodegrade when exposed to landfill conditions and/or water.