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 2022. 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 2022.
Promotional Campaigns and Eco-Drives to Bolster Market Demand
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.
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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.