Growth Drivers
The National Development and Reform Commission (NDRC) of China and the Ministry of Ecology and Environment (MEE) jointly published "Opinions on Further Strengthening the Control of Plastic Pollution" on January 16, 2020, with the goal of outlawing and drastically reducing the production and use of environmentally harmful plastics over the course of the following five years. To avoid and control plastic pollution, the Chinese government seeks to promote the manufacture of alternative and biodegradable materials. As a result of its recyclable nature and minimal use of plastic during production, plastic spout pouches have become more and more popular.
China has been heavily reliant on generic drugs. Over 94% of the about 160,000 drug licenses granted by the Chinese FDA are for generic medications, according to the National Health Commission of that nation.
In China, more than half of the male consumers as of 2021 claimed to use skincare products frequently, if not daily.
More than 65,000 domestic pre-cook-related businesses were registered in the country as of June 2022, more than 1,019 of which were brand-new businesses.
Every month, China generates almost 6 million metric tonnes of plastic products. The greatest monthly production of plastic goods since January 2020 was approximately 8 million metric tonnes in December 2021.
Challenges
Base Year |
2022 |
Forecast Year |
2023-2033 |
CAGR |
6.61% |
Base Year Market Size (2022) |
USD 71.9 Million |
Forecast Year Market Size (2033) |
USD 145.0 Million |
Regional Scope |
China |
Author Credits: Abhishek Anil
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?