BPA Free Plastic Market Glitter Unveiling the Latest Rising Trends

Allied Market Research recently released a report titled "BPA Free Plastic Market by Material (PET, HDPE, LDPE, PP, Others) and by Application (Food and Beverages, Consumer Goods, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." The report indicates that the global BPA free plastic industry generated $187.3 billion in 2021 and is projected to reach $299.6 billion by 2031, with a compound annual growth rate (CAGR) of 5% from 2022 to 2031. It offers a comprehensive analysis of market trends, key segments, investment opportunities, value chain, regional landscape, and competitive scenario.

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Key Drivers, Restraints, and Opportunities:

- Growth in investment by government agencies in next-generation electric vehicles (EV) and automotive & defense sectors is boosting the global on-demand logistics market.
Major players' investments in emerging economies are driving market trends.
- Availability of substitute products poses a challenge to market growth.
- Significant penetration of BPA free plastic in various sectors like personal care, consumer goods, food & beverage, and pharmaceuticals presents new growth opportunities.

Impact of COVID-19:

The COVID-19 pandemic negatively affected the BPA free plastic market due to lockdowns, disrupting transportation and raw material supply chains, impacting manufacturing operations.
Reduced consumer spending capacity during the pandemic also hindered market growth.

Segment Analysis:

The PET segment dominated the market in 2021 and is expected to maintain its leading position throughout the forecast period, driven by its extensive use in plastic bottle production.

HDPE segment is projected to witness the fastest CAGR of
5.5%, primarily due to its suitability for various applications, especially in the food industry.

Food and beverages segment held the largest market share in 2021 and is anticipated to maintain dominance, driven by the flexibility, cost-effectiveness, and extended shelf life offered by BPA free plastics.

Asia-Pacific led the market in 2021 and is expected to maintain dominance, with the highest CAGR during the forecast period, attributed to increased consumption of BPA free plastic products in various industries and changing lifestyles, especially after the COVID-19 pandemic.

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.

Obtain Report Details: https://www.alliedmarketresearch.com/bpa-free-plastic-market-A31763

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