Since 1950, 6.3 Billion metric tons of plastic waste have been created; only 9% has been recycled, just 12% has been incinerated. 5 billion metric tons of plastic waste is still in landfills or languishing in nature. By 2050, there may be more plastic in the ocean than there are fish. About 50% of all plastic is used just once and thrown away. It’s not just an environmental issue; it’s an economic issue. Up to $120 billion leaks out of the economy every year through current waste practices for single-use plastics alone. The time to act is now.
The global bioplastic market was valued at $4.6 billion in 2019, and is projected to reach $13.1 billion by 2027, growing at a CAGR of 13.8% from 2020 to 2027. Bioplastic has the potential to reduce carbon dioxide emission by 30%-70% - when compared to conventional synthetic plastic. Currently, bioplastics account for approximately 1 % of the 335 million tons of plastics produced annually. Global bioplastics production capacities will increase from approximately 2.11 million tons in 2018 to approximately 2.62 million tons in 2023.
Single-use plastics are ubiquitous and environmentally devastating - it is our goal to help take these products off the market and out of circulation by providing sustainable solutions. Further, we seek to reduce agave waste as much as possible. Our goal is to remove 1,000,000 tons of agave waste from the environment by 2030.
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