APAC is projected to lead the sustainable plastic packaging market

The global Sustainable Plastic Packaging Market size is projected to grow from USD 89.0 billion in 2020 to USD 117.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast year. The growth of this market is attributed to the increasing regulations regarding the use of plastics, initiatives by governments and NGOs to promote sustainability in plastic packaging (e.g. - The Ellen McArthur Foundation), and the increasing awareness about the need and benefits of sustainability among the public, especially the youth.

Download PDF Brochure at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=147972697

In terms of value and volume, the biodegradable segment is estimated to be the fastest-growing process in the sustainable plastic packaging market between 2020 and 2025.

Biodegradable plastic decomposes naturally in the environment. This is achieved when microorganisms in the environment metabolize and break down the structure of biodegradable plastic. It is less harmful to the environment than traditional plastics. Biodegradable plastics can be composed of bioplastics manufactured from renewable raw materials. Innovation plays a key role in the biodegradable plastic packaging market. Several companies are investing in R&D in search of new packaging materials that are beneficial in use and non-toxic to the environment.

The food & beverage segment is estimated to be the largest end-use sector in the sustainable plastic packaging market in 2019.

The food & beverage industry is a major one in the sustainable packaging market. The primary function of food & beverage packaging is to reduce food loss and increase the shelf-life of food products. The global players are aiming at using innovative packaging materials developed from degradable and recyclable materials in order to achieve sustainability. Consumers seek convenience food solutions due to lack of time. The expectations of food quality, hygiene, and growing health awareness are driving the sustainable packaging market in the food & beverage sector.

Request report sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=147972697

The sustainable plastic packaging industry has been growing as a result of stringent laws and regulations levied by governments and governing bodies, as well as a shift in consumer preference toward recyclable and eco-friendly packaging materials. Apart from these factors, downsizing of packaging and breakthrough in new technologies are also driving the sustainable plastic packaging market globally.

In terms of value and volume, the biodegradable segment is estimated to be the fastest-growing process in the sustainable plastic packaging market between 2020 and 2025.

Biodegradable plastic decomposes naturally in the environment. This is achieved when microorganisms in the environment metabolize and break down the structure of biodegradable plastic. It is less harmful to the environment than traditional plastics. Biodegradable plastics can be composed of bioplastics manufactured from renewable raw materials. Innovation plays a key role in the biodegradable plastic packaging market. Several companies are investing in R&D in search of new packaging materials that are beneficial in use and non-toxic to the environment.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact MarketsandMarkets™:

Mr. Ashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441 sales@marketsandmarkets.com

Contact MarketsandMarkets™: Mr. Ashish Mehra MarketsandMarkets™ Inc. 630 Dundee Road Suite 430 Northbrook, IL 60062 Usa: 1-888-600-6441 sales@marketsandmarkets.com