Bio-based PET Market Will Accelerate Rapidly with Excellent CAGR in Future with Top Prominent Players

According to the report published by Allied Market Research, the global bio-based PET market was estimated at $441.3 million in 2021 and is expected to hit $941.4 million by 2031, registering a CAGR of 7.9% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

Additionally, the rising adoption of circular economy principles by governments and industries worldwide is another crucial driver of the Bio-Based PET market. The circular economy aims to minimize waste and maximize resource efficiency through recycling, reuse, and repurposing. Bio-Based PET aligns closely with these principles, derived from renewable resources and fully recyclable. Initiatives like the European Commission's Circular Economy Action Plan, which targets ensuring all plastic packaging in the EU market is reusable or recyclable by 2030, are expected to further drive the demand for Bio-Based PET as a sustainable and recyclable packaging material.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : https://www.alliedmarketresearch.com/request-sample/31803

Segmentation Overview:

The bio-based PET market has been segmented into application, end-use, and region.

Bottles were the largest application segment for bio-based PET.

In 2023, bottles were the largest segment within the bio-based PET market by application. The beverage industry has been at the forefront of adopting Bio-Based PET as a sustainable packaging solution, driven by consumer demand for eco-friendly products and corporate sustainability goals.
Packaging accounted for a significant market share in 2023.

In 2023, the packaging has been the largest sub-segment within the bio-based PET market by end-use. The packaging industry has been the primary driver of Bio-based PET demand as companies seek to reduce their environmental impact and meet consumer preferences for sustainable packaging solutions.

The global bio-based PET market is analyzed across application, end-use industry, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐰𝐢𝐭𝐡 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐈𝐦𝐩𝐚𝐜𝐭 𝐢𝐧 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/request-for-customization/31803

Based on application, the beverages segment held more than half of the total market revenue in 2021, and is expected to dominate by 2031. The others segment, however, would manifest the fastest CAGR of 9.4% throughout the forecast period.

Based on end-user industry, the packaging segment garnered nearly half of the total market revenue in 2021, and is expected to dominate by 2031. The electrical and electronics segment, nonetheless, would project the fastest CAGR of 8.8% throughout the forecast period.

Based on region, the global bio-based PET market across Asia-Pacific generated more than two-fifths of the total market revenue in 2021, and is anticipated to retain the lion's share by 2031. The same region would also showcase the fastest CAGR of 8.2% throughout the forecast period. The other provinces analyzed through the report include Europe, North America, and LAMEA.

The key market players analyzed in the global bio-based PET market report include Amyris, Anellotech Inc., Biome Bioplastics, Braskem, DAIKIN, Gevo Inc., Kuraray Co., Ltd., M&G Chemicals, NatureWorks LLC, Novamont S.p.A, Total Energies, Plastipak Holdings, Inc., PTT Global Chemical Public Company Limited, Solvay, Teijin Limited, Indorama Ventures Public Company Limited, Toray Industries Inc, and Toyota Tsusho Corporation. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/bio-based-pet-market/purchase-options

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