Global biodegradable water bottles market is estimated to expand 1.5 times the current market value by the end of 2030
ALBANY, NEW YORK, UNITED STATES, September 30, 2021 /EINPresswire.com/ — According to Transparency Market Research’s latest report on the global biodegradable water bottles market for the forecast period of 2020-2028, the market is estimated to grow, owing to the demand from residential use, institutional use, and for specialty purposes.
The global biodegradable water bottles market is expected to clock a CAGR of 4.5% during the forecast period. Biodegradable water bottles have huge contribution in avoiding environmental pollution, which is likely to increase the sales of biodegradable water bottles in the years to come.
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Rising consumer awareness regarding the ill environmental impacts of using plastic water bottles as well as increasing government initiatives supporting various green and sustainable environmental practices are motivating the sales in global biodegradable water bottle market. Products in the global biodegradable water bottle market are gaining popularity around the world among environmentally conscious consumers. Furthermore, benefits of using products in the global biodegradable water bottle market offered by various regional governments such as favorable policies, subsidies, tax exemptions and concessions are fueling the consumer interest in global biodegradable water bottle market.
With rising impetus on minimizing global waste, products in the global biodegradable water bottle market can offer attractive solution as most of the discarded plastic garbage consists of used plastic water bottles. In recent past, there has been considerable amount of shift in consumer purchasing behaviors with regards to the ecological nature of the consumer products. This trend is favoring the development of the global biodegradable water bottle market. Moreover, rising consumer concerns regarding climate change have also compelled an increased uptake of the products in global biodegradable water bottle market.
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Products in the global biodegradable water bottle market play a vital role in reducing soli as well as water pollution. Furthermore, their production procedure also consumes less water than that of the traditional and single use water bottles. These factors, coupled with the increased demand through online sales channels have been fueling growth in global biodegradable water bottle market in recent past. Moreover, stringent government frameworks surrounding the plastic packaging industry as well as constant efforts to minimize global waste are motivating the growth in global biodegradable water bottle market.
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Some of the major and incumbent players operating within the global biodegradable water bottle market include Paper Water bottle, Lyspackaging, Ecologic Brands, Inc., Cove, Mitsubishi Chemicals (MCPP), Choose Water, Raepack Ltd., Montana Private Reserve, Just Water, and TSL Plastics Ltd. Players in the global biodegradable water bottle market are working hard to negate the adverse impact of the pandemic and subsequent economic slowdown on the global biodegradable water bottle market. They are seen introducing various convenient as well as attractive packaging solutions.
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