The Business Research Company’s Plastic Alternative Packaging Global Market Report 2021: COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, March 1, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Read More On The Global Plastic Alternative Packaging Market Report: https://www.thebusinessresearchcompany.com/report/plastic-alternative-packaging-global-market-report
Growing environmental concerns associated with plastic usage is a major driver for the growth of the eco-friendly packaging market biodegradable plastic bags market. Plastic products consist of deadly pollutants and cause harmful effects on humans, animals, and the environment. Customers are interested in eco-friendly packaging options to find the replacement of plastic packaging. According to the World Economic Forum’s report published in October 2019, approximately 13 million tons of plastic waste leaks into our oceans every year, causing unimaginable damage to biodiversity, marine life, and human health. Most plastics are non-biodegradable attributing to the material versatility. Rising inclination towards alternatives to plastics has attracted businesses worldwide, which contributes to the growth of the biodegradable plastic bags market.
The green packaging market covered in this report is segmented by type into starch-based plastic, cellulose-based plastics, polylactic acid (PLA), polyhydroxyalkanoates (PHA), others; by process into recyclable, reusable, biodegradable; by application into food and beverage, personal care, health care, others.
The global plastic alternative packaging market is expected to grow from $61.23 billion in 2020 to $71.08 billion in 2021 at a compound annual growth rate (CAGR) of 16.10%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The biodegradable plastic market size is expected to reach $95.04 billion in 2025 at a CAGR of 7.63%.
The major players covered in the sustainable plastic packaging market are Amcor Limited, Tetra Pak, Sealed Air Corporation, Plastic Suppliers Inc., Kruger Inc., Mondi, International Paper Company, Smurfit Kappa Group PLC, DS Smith PLC, Klabin SA, Rengo Co. Ltd, Bemis Company Inc.
Plastic Alternative Packaging Global Market Report 2021: COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides plastic alternative packaging market overview, forecast plastic alternative packaging market size and growth for the whole market, plastic alternative packaging market segments, and geographies, plastic alternative packaging market trends, plastic alternative packaging market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
Request For A Sample Of The Global Plastic Alternative Packaging Market Report: https://www.thebusinessresearchcompany.com/sample.aspx?id=3901&type=smp
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