Biodegradable Plastics Market Sector on Track to Hit USD 7.1 billion by 2031, Growing at 6.5% CAGR | Exclusive Report by Transparency Market Research, Inc. [Yahoo! Finance]
MITSUBISHI CH GRP U/ADR (MTLHY)
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Source: Yahoo! Finance
Wilmington, Delaware, United States, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global biodegradable plastics market was projected to attain US$ 3.66 billion in 2020. It is anticipated to garner a 6.5% CAGR from 2021 to 2031 and by 2031, the market is likely to attain US$ 7.1 billion by 2031. Consumers are increasingly choosing a healthier lifestyle. They are better knowledgeable of the benefits of a green environment. This is boosting the sales of natural, sustainable, and green products, which have the ability to alleviate the strain on the ecosystem. As a result, customers are increasingly demanding sustainable and eco-friendly packaging, which is driving the biodegradable polymers market. The contemporary bioplastics market is marked by its rapid development rate and broad variety. Bioplastics have a wide range of uses, including beverage bottles in the packaging industry, hardware parts in consumer electronics, and interior elements in automobi
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