Biodegradable Tableware Market Overview
The market trends suggest that the biodegradable tableware market is expected to be growing at a growth rate of 6.45% and USD 1.39 billion for the forecast period 2030.
Biodegradable tableware is a compostable and biodegradable product designed to reduce methane emissions as they are made from renewable resources such as sugarcane, bamboo, paper, and others. Tableware contains bowls, plates, and cups that offer many benefits, suitable for hot and cold beverages, high strength, and performance.
Environmental awareness among the population is driving demand for sustainability and reducing the impact of packaging on the environment. Consumers' interest towards sustainability has changed drastically in the last decade and is likely to continue in the years to come gives rise to increase in biodegradable tableware market.
Biodegradable disposable tableware is lightweight, hygienic, and convenient. Biodegradable disposable tableware is an apt solution for the food service industry as it is cost-effective compared to tableware of glass, which can be difficult to handle. Consumers recognize that becoming more sustainable can have a positive impact on the environment, and packaging made up of biodegradable material has a positive impact on the customers' minds.
There has been an increase in the pace of industrialization is a major factor accelerating the growth of the biodegradable tableware market. Rising awareness regarding the ill effects of plastic tableware and the benefits of environmentally friendly tableware, increasing adoption of non-toxic and petroleum-free products, increasing disposable income, and extending investment in research and development are some of the factors which will also enhance the growth of the biodegradable tableware market in the forecast period of 2022 to 2030. However, the increasing prices of biodegradable products and lack of awareness in some economies will hamper the market's forecast growth, as mentioned above.
Key Players
The biodegradable tableware key market players are mentioned as follows:
Pactiv LLC (US),Huhtamäki Oyj (Finland),Dart Container Corporation (US),Georgia-Pacific LLC (US),Lollicup USA Inc. (US),Solia, Inc. (US),Natural Tableware (Netherlands),Biotrem (Poland),Reynolds Consumer Products LLC (US),Genpak, LLC (US),Vegware (UK),Papstar GmbH (Germany),Bionatic GmbH & Co. KG (Germany),Better Earth LLC (US),Eco Guardian (Canada)
Market Segmentation
The biodegradable tableware market is segmented based on material, product type, and distribution channel. The growth amongst the biodegradable tableware market segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions to identify core market applications.
- The biodegradable tableware market is segmented into paper, bagasse, bamboo, palm leaf, wheat bran, etc. Others have been segmented into wheat, straw, paper, and pulp.
- The biodegradable tableware market is segmented into cups, plates, bowls, silverware, and others based on product type.
- The biodegradable tableware market is segmented online and offline based on the distribution channel. Offline has been segmented into large-format stores, specialty stores, and small retail stores. Large format store segments have been sub-segmented into hypermarkets, supermarkets, and departmental stores.
Regional Analysis
Asia-Pacific dominates the biodegradable tableware market because of the increasing pace of industrialization and rising consumer preferences in this region. North America is one of the fastest-growing regions for biodegradable tableware due to the increasing adoption of non-toxic and fossil oil-free merchandise.
Industry News
The European market had dominated the Global Biodegradable Tableware Market in 2018 and is anticipated to follow the same trend owing to factors such as rising concerns related to the ill-effects of plastic tableware, rising emphasis on non-toxic and petroleum-free products, stringent rules & regulations on the use of single-use plastic products, rapid acceptance of take-aways and online food services and increasing preference for environment-friendly tableware.
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