Global Plastic Regulatory Market is estimated to be valued at US$ 39.29 billion in 2023, and is expected to reach US$ 58.69 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.9% from 2023 to 2030.
Report Coverage |
Report Details |
Base Year: |
2022 |
Market Size in 2023: |
US$ 39.29 Bn |
Historical Data for: |
2018 to 2021 |
Forecast Period: |
2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: |
5.90% |
2030 Value Projection: |
US$ 58.69 Bn |
Figure 1. Global Plastic Regulatory Market Share (%), By Region, 2023
As governments around the world increasingly recognize the environmental, social, and health impacts of single-use plastic waste, Government are regulating its production and disposal. The result is an ever-changing landscape of regulations for plastic manufacturers to navigate. These new rules are aimed at preventing and reducing the impact of certain plastic products on the environment, particularly in the marine environment, and on human health. These are also promoting the transition to a circular economy with innovative and sustainable business models, products and materials. These are helping to improve the management, recycling, and final disposal of such products.
Market Dynamics:
Growing number of regulations and legislations focused on plastics is expected to propel growth of the global plastic regulatory market over the forecast period. These movements are creating pressure for companies to adopt sustainable initiatives that reduce plastic-waste output. This is also expected to support the market growth in the near future. The plastic regulatory market encompasses various aspects, including restrictions on single-use plastics, labeling requirements, recycling targets, bans on certain types of plastics, extended producer responsibility (EPR) schemes, and initiatives to promote the circular economy. Plastics manufacturing has a significant impact on the environment, including pollution, energy consumption, and greenhouse gas emissions. Regulations can help mitigate these impacts and promote more sustainable practices. the regulatory landscape for single-use plastics is gaining momentum globally, with various countries exploring comprehensive regulatory approaches that integrate the life cycle of plastic products, from production to disposal. This includes bans, market and trade-based mechanisms, and voluntary measures to regulate single-use plastic items and microplastics containing products at the national level.
However, that are not aligned with these regulatory targets. This is expected to hinder growth of the global plastic regulatory market during the forecast period.
Key features of the study:
- This report provides in-depth analysis of the global plastic regulatory market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), considering 2022 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global plastic regulatory market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include U.S. Environmental Protection Agency (EPA), European Chemicals Agency (ECHA), Food and Drug Administration (FDA), Ministry of Environment, Forest and Climate Change (India), National Health Commission (China), Canadian Food Inspection Agency (CFIA), National Institute for Health and Welfare (THL) (Finland), Federal Institute for Risk Assessment (BfR) (Germany), National Institute of Food and Drug Safety Evaluation (KFDA) (South Korea), Ministry of Ecology and Environment (China),
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global plastic regulatory market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global plastic regulatory market
Global Plastic Regulatory Market Detailed Segmentation:
- By Type of Regulation:
- Environmental Regulations
- Packaging Regulations
- Chemical Regulations
- Recycling and Waste Management Regulations
- Product Safety and Quality Regulations
- By Application
- Food Packaging Regulations
- Medical Device Regulations
- Automotive Regulations
- Construction Regulations
- Electronics Regulations
- Consumer Goods Regulations
- By Regulatory Agency:
- Environmental Protection Agency (EPA)
- Food and Drug Administration (FDA)
- European Chemicals Agency (ECHA)
- Ministry of Environment and Climate Change (MOECC)
- National Health Commission (NHC)
- Others
- By Type of Plastic:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East &Africa
- Company Profiles:
- U.S. Environmental Protection Agency (EPA)
- European Chemicals Agency (ECHA)
- Food and Drug Administration (FDA)
- Ministry of Environment, Forest and Climate Change (India)
- National Health Commission (China)
- Canadian Food Inspection Agency (CFIA)
- National Institute for Health and Welfare (THL) (Finland)
- Federal Institute for Risk Assessment (BfR) (Germany)
- National Institute of Food and Drug Safety Evaluation (KFDA) (South Korea)
- Ministry of Ecology and Environment (China)