Global plastics production has been estimated to be above 360 million metric tons for the year 2020, approximately half of our global annual plastic production is destined for a single-use product. As per industry experts, more than 130 million metric tons of single-use plastics were thrown away, with most of that waste burned, buried in a landfill, or dumped directly into the ocean or onto land.
Leading brand owners have set up an aggressive roadmap to replace SUP with alternative materials on account of regulative reasons as well as to enhance their brand equity as well; primary packaging suppliers are contemplating new material innovations which is providing them a window of opportunity to innovate else they will face competitive pressure.
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