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Green Chemical Market size was valued at USD 35.49 Billion in 2022 and is poised to grow from USD 38.43 Billion in 2023 to USD 72.56 Billion by 2031, growing at a CAGR of 8.27% in the forecast period (2024-2031).

Green Chemical Market is fragmented due to the presence of several players who adopt strategies, such as mergers and acquisitions to increase their market dominance and consumer base. Major players include Arkema Group, BASF SE, Evonik Industries AG, GFBiochemicals Ltd., Koninklijke DSM N.V., among others. Key players are working on innovation and new product development to capture consumer interest and create a brand image in the minds of the consumers. 'Mitsubishi Chemical Corporation (Japan) ', 'Plantic Technologies Limited (Australia) ', 'Toray Industries Inc. (Japan) ', 'Arkema Group (US) ', 'Vertec BioSolvents Inc. (US) ', 'Total Corbion PLA (Netherlands) ', 'DuPont de Nemours, Inc. (US) ', 'Evonik Industries AG (Germany) ', 'SECOS Group Ltd (Australia) ', 'Solugen (US) ', 'DUDE CHEM (US) ', 'Albemarle Corporation (US) ', 'Gujarat Alkalies and Chemicals Limited (India) ', 'GFBiochemicals Ltd. (France) ', 'Dow Chemical Company (US) ', 'GREENCHEMICALS Spa (Japan) ', 'Cargill, Incorporated (U.S.) ', 'Inkemia Green Chemicals (US) ', 'Novamont Spa (Italy) ', 'PCC SE (Germany)'

Over the last few years there has been an enormous increase in the demand for green products worldwide, and consumers are willing to pay a higher price for a more environmentally sustainable alternative. In fact, our research shows that around 70% of global consumers are willing to spend more on sustainable brands. This percentage is even higher among certain groups of consumers. For example, sustainability is a key purchasing driver for 66% of all shoppers and for 75% of millennial shoppers. This change in consumer behaviour offers a great opportunity for green chemical manufacturers as more and more products are winning because they are green. As a result, companies that prioritize sustainability are well-positioned to capitalize on this growing consumer demand. 

Europe accounted for the highest market share in the global market in 2023 followed by North America. The significant market share of the region is primarily attributable to the rising demand for environmentally friendly goods, the presence of well-known companies in the region, and the expanding use of green chemicals in a variety of sectors, including food and beverage, personal care, automotive, and packaging. In order to create sustainable and eco-friendly solutions, the region's chemicals industry is also placing more and more emphasis on the production of green chemicals. 

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Global Green Chemical Market

Product ID: SQMIG15B2112