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The Asia Pacific Polyglycolic Acid Market is estimated to grow at a CAGR of around 11.2% during the forecast period, i.e., 2024-30.
Asia Pacific Polyglycolic Acid Market Driver:
Rising Demand for Packaged Food to Propel Growth of Sustainable Packaging– The growing working population, has led to increasingly busy schedules. As a result, there is a rising demand for convenient food options such as packaged foods and ready-to-eat meals. Furthermore, governments across the countries have introduced various initiatives to encourage sustainable packaging practices. This results in the food & beverage companies increasingly adopting sustainable packaging methods to reduce the harm caused by packaging materials to the shelf life of food. Hence, this sustainable packaging includes the incorporation of polyglycolic acid material which is expected to impact their market growth in the forthcoming period.
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Market Dimensions & Projections
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Asia Pacific Polyglycolic Acid Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – BMG Incorporated, Kureha Corporation, Merck KGaA, Polysciences Inc., Huizhou Foryou Medical Devices Co., Ltd., Haihang Industry, Teleflex Incorporated, Hefei TNJ Chemical Industry Co.,Ltd., Polylactide, Inc., Vizag Chemicals, Others
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