Compostable Plastic Market is Estimated to Grow at a CAGR of 7.50% by 2035 | ChemAnalyst
According to ChemAnalyst report, “ Compostable Plastic Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, The compostable plastic market has witnessed significant growth as its demand reached 2.45 million tonnes in 2020 and is expected to achieve an impressive CAGR of 7.50% by 2035. Rapidly increasing demand for high-quality biodegradable plastic by various end-user industries, including consumer goods, agriculture, and horticulture, medical, automotive, electronics, and others, is likely to boost the Compostable plastic market across the globe over the next ten years. Rising demand from the packaging industry coupled with the ascending consumption of packed food and beverages will further propel the Compostable plastic market in the future. The expensive cost of Compostable plastic can somehow hinder the market growth in the