Increasing penetration of BPA free plastics in personal care, consumer goods, food & beverages, and pharmaceutical sectors presents growth prospects.

WILMINGTON, DELAWARE, UNITED STATES, July 9, 2024 /EINPresswire.com/ -- Allied Market Research recently released a comprehensive 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." According to the report, the global BPA free plastic industry generated $187.3 billion in 2021 and is projected to reach $299.6 billion by 2031, growing at a CAGR of 5% from 2022 to 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/32213

Key Drivers, Restraints, and Opportunities:

- Drivers: Investments by government agencies in next-gen electric vehicles (EVs), automotive, and defense sectors, along with significant investments by major players in emerging economies, are driving market growth.
- Restraints: Availability of substitute products poses challenges to market expansion.
- Opportunities: Increasing penetration of BPA free plastics in personal care, consumer goods, food & beverages, and pharmaceutical sectors presents growth prospects.

Material Insights:

- PET Segment: Dominated the market in 2021, expected to maintain leadership due to its widespread use in durable, clear, lightweight, and thermally stable plastic bottles.
- HDPE Segment: Anticipated to grow fastest with a CAGR of 5.5%, driven by its suitability for food industry applications such as mixing and liquid flow control.

Among materials, PET held the largest market share in 2021 and is expected to continue leading through the forecast period, driven by its extensive use in plastic bottle production. HDPE is anticipated to exhibit the fastest growth, with a CAGR of 5.5%, owing to its suitability for various applications in the food industry.

Application Insights:

Food and Beverages: Largest segment in 2021, likely to maintain dominance with the highest CAGR of 5.2% during the forecast period. BPA free plastics are favored for their flexibility, cost-effectiveness, and extended shelf life in packaging applications.

Geographically, Asia-Pacific led the market in 2021 and is poised to maintain dominance with the highest projected CAGR of 5.2% during the forecast period. Factors such as lifestyle changes, increased consumption of packaged food, and the expansion of e-commerce contribute to this growth.

The report also profiles key market players including Altium Packaging, Amcor plc, Conagra Brands, Inc., and Eastman Chemical Company, among others.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/bpa-free-plastic-market/purchase-options

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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