6A – Identifying Opportunities in Economic & Regulatory Trends
Opportunity 1 : Manufacture or supply biodegradable single-use products a) According to Transparency Market Research , the biodegradable plastic bags market is expected to grow with the compound annual growth rate of 6.9% over the period of 2017-2022 ( https://www.transparencymarketresearch.com/pressrelease/biodegradable-plastic-bags-sacks-market.htm ). These single-use bags may be made out of entirely different materials such as root vegetable, thus plastic can be eliminated in the entire process of manufacturing these single-use bags. More than ever, the global community is aware of the environmental implication of using plastic bags. And more consumers are making an effort to make less plastic waste while they shop, one of the ways for consumers to make this effort is to bring reusable grocery bags to markets. b) More and more cities, states and countries are creating a regulation to ban or to tax the usage of plastic bags. New York may pass a law that bans single-use plas...