| | DECEMBER 20228THE PANORAMAThe global bioplastic market is witnessing exponential growth and will continue to capture a greater share of the overall plastic industry y-o-y. According to estimates, bioplastics will control a whopping 40 percent share by 2030, making bioplastics a $324 billion-dollar industry, Grand View Research. Corporations and consumers are becoming conscious of the dangers of petroleum-based plastics and the advantage of sustainable plastics. Organizations are now employing sustainability officers to incorporate best practices into their manufacturing and procurement processes. Plastics are an integral part of manufacturing, and investing in Bioplastic means replacing the dated, unsustainable technology with a new one that causes minuscule change to infrastructure while maintaining quality and effectiveness. Bioplastics are now gaining popularity across multiple industries, thereby helping companies to abide by environmental norms without BIOPLASTIC: LODESTAR FOR THE JOURNEY TOWARDS SUSTAINABLE FUTURE
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