A newly published report titled “Global Sustainable Films for Packaging Market” by InsightAce Analytic Pvt. Ltd. features detailed industry analysis and an extensive study on the market, exploring its significant factors.
The global Sustainable Films for Packaging market is estimated to reach more than $278.41 billion by 2030, exhibiting a Compound Annual Growth Rate of 7.54 percent during the forecast period.
The creation and usage of sustainable packaging films result in better sustainability. This includes greater use of life cycle inventory (LCI) and life cycle assessment (LCA) to help guide package use, reducing environmental effects and ecological footprint. Sustainable packaging films are likely the best alternative for decreasing plastic waste.
The market for sustainable films for packaging is anticipated to increase enormously over the next few years due to the rising emphasis on the circular economy and the government’s strengthening laws to limit single-use plastics.
Various end-use industries are adopting sustainable packaging, including food and beverage, pharmaceutical, consumer electronics, personal care, and consumer goods. The food and beverage sector generates a sizeable amount of plastic garbage and is the world’s largest consumer of single-use plastic packaging.