China Plastic Spouts Sector: Growth Drivers and Challenges
Growth Drivers
- Growing Government Initiatives to Reduce the Plastic Pollution
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.
- Growing Production of Generic Drugs in China
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.
- Growing Demand for Cosmetics in China by Men
In China, more than half of the male consumers as of 2021 claimed to use skincare products frequently, if not daily.
- Surge in Pre-Cook-Related Enterprises
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.
- Rise in Production of Plastic
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
- Recycling and Environment Concern of Plastic Spouts - The use of plastic packaging for spout products is also harmful to the environment since it increases garbage, clogs landfills, and pollutes the ocean, killing aquatic life. Further, plastic spout recycling issues and environmental concerns are limiting market expansion since recycling entails performing a transformation sequence, which could have negative environmental, labor-intensive, and financial effects. The rapid growth of the express and food delivery sectors has also presented new difficulties for the China plastic spouts market.
- Supply Chain Disruption
- Shortage of Raw Material for Manufacturing
China Plastic Spouts Market: Key Insights
|
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 |
