The food and beverages segment held the largest market share in 2021, accounting for more than two-fifths of the global BPA free plastic market share, and is expected to maintain its leadership status during the forecast period. The same segment is expected to cite the highest CAGR of 5.2% during the forecast period. BPA-free plastics have been used in the food and beverage industry because of their flexibility, cost-effectiveness, lightweight, faster production, and extended shelf life. BPA-free plastic packaging is used in dairy goods, caps and closures, kitchenware containers, lids, or flexible plastic packaging for candies and chocolate, where improved BPA-free technology is employed in the manufacturing process. The report also includes segments such as consumer goods and others.
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The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The market in Asia-Pacific was the largest in 2021, capturing nearly one-third of the Region-wise, the Asia-Pacific region held the major market share in 2021, grabbing more than half of the global BPA free plastic market share. Moreover, the Asia-Pacific market is slated to dominate the global market share during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 5.2% during the forecast period. The BPA free plastic market is driven by rise in consumption of BPA free plastic products from cosmetics & personal care, healthcare and food industry. The change in lifestyle and increased consumption of packed food has also stimulated the market growth.
This makes it important to understand the practical implications of the BPA free plastic market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
The PET segment held the major market share in 2021, holding nearly one-third of the global BPA free plastic market share, and is expected to maintain its leadership status during the forecast period. Massive use of PET in the production of plastic bottles. PET bottles are more durable, clear, lightweight, non-reactive, cost-effective, and thermally stable than Polypropylene (PP), and (Polyvinyl chloride) PVC bottles will drive segmental growth. However, the HDPE segment, is expected to cite the fastest CAGR of 5.5% during the forecast period. BPA-free HDPE plastic is suitable for numerous businesses, including the food industry, which produces items specifically for human consumption. They can be used for mixing, liquid flow control, and other applications.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players Altium Packaging, Amcor plc, Conagra Brands, Inc., Eastman Chemical Company, Orthex Group, Plastipak Packaging, Inc., PPG Industries, Inc., Taiyuan Lanlang Technology Industrial Corp., Thermo Fisher Scientific Inc., Water Boy, Inc. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
According to the report, the global BPA free plastic industry generated $187.3 billion in 2021, and is estimated to reach $299.6 billion by 2031, witnessing a CAGR of 5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the BPA free plastic market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
Rise in investment made by government agencies in next-generation electric vehicles (EV) and automotive & defense sectors drive the growth of the global on-demand logistics market. Furthermore, surge in investment made by prime players in emerging economies to boost the global market trends. However, easy availability of substitute products will hamper the global market growth. On the other hand, massive penetration of BPA free plastic in personal care, consumer goods, food & beverage, and pharmaceutical sectors is likely to present new growth opportunities for the global market in the coming years.
KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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