The global sustainable plastic market size was USD 319.50 Billion in 2022 and is expected to register a revenue CAGR of 13.4% during the forecast period, according to the latest analysis by Emergen Research. Strict governmental laws and regulations aimed at curbing plastic contamination are major factors driving the sustainable plastic market revenue growth. China, in particular, has witnessed a growing concern over plastic pollution, prompting actions to address the issue. As evidence of this commitment, on March 23, 2023, the World Bank's Board of Executive Directors approved a substantial USD 250 million IBRD loan dedicated to mitigating plastic pollution stemming from municipal solid waste and agricultural plastic film in the rural areas of China's Shaanxi Province. At the UN Environment Assembly (UNEA-5) in Nairobi, UN Member States expressed their backing for a significant resolution that seeks to put an end to plastic pollution and establish an international legally binding agreement by 2024. In the U.S., there are no federal tax advantages specifically provided for utilization of sustainable plastics. However, certain states and cities have implemented tax incentives to promote adoption of sustainable plastics. For instance, in California, businesses can receive a tax credit equivalent to 10% of the cost of recycled plastic used in their products. Similarly, New York City offers a tax exemption to businesses employing compostable foodservice packaging, with the exemption equal to the sales tax that would typically apply to the sale of such compostable packaging.
The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.
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The leading market contenders listed in the report are:
Novamont S.p.A., Amcor plc, Crown, Bemis Manufacturing Company, BASF SE, WestRock Company, Berry Global Inc., Sonoco Products Company, Mondi, and Smurfit Kappa among others
The research study examines historic data from 2018 and 2020 to draw forecasts until 2030. The timeline makes the report an invaluable resource for readers, investors, and stakeholders looking for key insights in readily accessible documents with the information presented in the form of tables, charts, and graphs.
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Market Overview:
The report bifurcates the Sustainable Plastic market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
-
Type Outlook (Revenue, USD Billion; 2019-2032)
- Biodegradable Plastic
- Recycled Plastic
- Bio-based Plastic
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Function Outlook (Revenue, USD Billion; 2019-2032)
- Active
- Alternate Fiber
- Molded Pulp
- Others
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Layer Outlook (Revenue, USD Billion; 2019-2032)
- Primary
- Secondary
- Tertiary
The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
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Regional Analysis Covers:
North America U.S., Canada)
Europe U.K., Italy, Germany, France, Rest of EU)
Asia Pacific India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Sustainable Plastic Market report:
- The latest report comprehensively studies the global Sustainable Plastic market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products & services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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Latest Published Reports by Emergen Research:
- Sustainable Plastic Market Size
- Sustainable Plastic Market Share
- Sustainable Plastic Market Trends
- Sustainable Plastic Regional Market Demand
- Sustainable Plastic Market Analysis
- Sustainable Plastic Market Top Companies
- Sustainable Plastic Market News
- Sustainable Plastic Market Executive Summary
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