Transparency Market Research (TMR) finds that the global eco friendly bottles market would grow at a CAGR of 8.1% over the period between 2017 and 2024. The global eco friendly bottles market was valued at US$2.5 bn in 2017 and is expected to touch a value of US$3.7 bn in 2024.
The global market for eco friendly bottles has been witnessing the emergence of several new players in recent times. The influx of new vendors is largely due to the tremendous growth potential of the global market for eco friendly bottles. The market players have been assessing the volume and revenues that are expected to be generated by the global eco friendly bottles market over the forthcoming years.
This will help the market players in evaluating their own growth potential in the years to come. Due to the favourable dynamics, the market players are projected to reap commendable revenues over the forthcoming years. Furthermore, the expertise of the large market vendors has given them a mark of distinction and they are expected to reap greater revenues as against smaller players.
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There have been several initiatives taken by the small and medium sized players to establish their name in the global market for eco friendly bottles. It is projected that the success of the regional and local players would depend on the success of promotional campaigns to conserve the environment.
The large market players in the global eco friendly bottles market are anticipated to acquire some of these local and regional players in order to expand their geographical presence. Some of the leading players in the global eco friendly packaging market are One Green Bottle, Ecologic Brands Inc., Earthlust, Cascade Designs Inc., SKS Bottle and Packaging Inc., and Cascade Designs Inc.
The accumulation of plastic waste as a result of years of unregulated manufacture of plastic bottles and cans has put a negative toll on the environment. The non-biodegradable nature of plastic waste along with the deterioration it causes to the soil has made it necessary to find a replacement for plastic bottles and other objects. Hence, eco-friendly bottles have gained popularity across the globe, and this has given an impetus to the global eco friendly bottles market. Furthermore, the government has also been engaged in promoting the use of eco friendly bottles by launching promotional campaigns and environment conservation drives.
North America to Lead Other Regional Segments
The adoption of eco friendly bottles has been rapi across the US and Canada, and this has given a launch pad for the growth of the market in North America. Furthermore, the culture of the aforementioned countries is such that the people refrain from the usage of materials that could deteriorate the environment. Besides this, governments in these countries have formed separate bodies for the conservation and preservation of the environment. The market for eco-friendly packaging in Asia Pacific has also garnered attention because of the nascent shift in the propensities of the people from contempt to concern towards the environment.
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The review is based on TMR’s report titled, “Eco Friendly Bottles Market (Material – Polylactic Acid, Cellulose, Starch, Water Soluble Polymers, Aliphatic/Aromatic Co-polyesters, Moulded Fiber, Polyhydroxyalkanoates, Bio-derived Polyethylene; Application – Mineral Water, Non-alcoholic Beverages, Household Products) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2024”.
