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.
This comprehensive study provides various aspects of business such as important definition, end use and total revenue generated across various regions. Besides this, researchers behind this study put in vigilant and persistent effort to keep a proximate attention on top performers of Sustainable Plastic Market. Import and export, demand and supply, gross margin, supply chain management and distribution channel are the other aspects examined during the research.
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Competitive Terrain:
The global Sustainable Plastic industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
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
Additional information offered by the report:
Along with a complete overview of the global Sustainable Plastic market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
The report elaborates on the global Sustainable Plastic market size and share governed by the major geographies.
It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
It further presents a detailed description of the company profiles of the key market contenders.
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Segments Covered in this report are:
Biodegradable Plastic
Recycled Plastic
Bio-based Plastic
Active
Alternate Fiber
Molded Pulp
Others
Primary
Secondary
Tertiary
Radical Highlights of the Sustainable Plastic Market Report:
Comprehensive overview of the Sustainable Plastic market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Sustainable Plastic market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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