LOS ANGELES, March 07, 2019 (GLOBE NEWSWIRE) -- A new market research report released by QY Research titled, “Global Plastic Cutlery Market Report, History and Forecast 2013-2025,” provides a complete market analysis with forecast to 2025. The global Plastic Cutlery market was valued at US$ 2620 Mn in the year 2017 and is likely to touch a valuation of US$ 2920 Mn by the end of 2025. The market is growing with a sluggish CAGR of 1.3% over the projected period.
Global Plastic Cutlery Market: Trends and Opportunities
With the rising use of plastics in our day to day life is generating a lot of plastic waste, however government regulations across the globe have banned the use of plastic to protect the environment. To overcome this challenge, many food packaging industries use plant-based raw materials for producing single-use packaging like disposable tray, plates, bowls, and cutlery. Increasing bio-based food service may benefit the demand for plastic cutlery over the forecasted period.
Since the past few years, there has been a shifting demand for biodegradable plastic cutlery which is made up of wood, wheat bran, sorghum, rice, and corn. This led to the growth of the market in the near future.
Global Plastic Cutlery Market: Segmental Analysis
The global market for plastic cutlery is segmented into applications and product type. Commercial and household are the main segments of the applications in the plastic cutlery market. Based on product type, the market is segmented into Plastic Spoon, Plastic Knife, and Plastic Fork.
Global Plastic Cutlery Market: Geographical Outlook
The Asia Pacific and Europe are leading the market for plastic cutlery in terms of consumption. In Asia Pacific regions, the countries such as India, China, Southeast Asia, and Japan are growing significantly over the predicted period. In Europe, the market is going in a downward trend due to an implication of a new ban policy of plastic cutlery. The innovative products like plant-based raw material is expected to create a positive impact on the growth of the market over the anticipated period.
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Global Plastic Cutlery Market: Key players
Some of the major players functioning into the global market for plastic cutlery are Dopla, Huhtamaki, Biopac, Dart, Swantex, Lollicup USA, Fuling Global, Solia, Eco-Products, and TrueChoicePack (TCP). Dart and Huhtamaki are expected to be the leading manufacturers in the plastic cutlery during the projected period.
Global Plastic Cutlery Market: Competitive Landscape
The competition in the market is likely to become stronger with an introduction of new products and various mergers and acquisitions. Each manufacturer has its own sales network. Through resellers and retailers, their authorized partners keep expanding their sales of plastic cutlery. For a better understanding of the sales, producers are mainly investing in their marketing channel infrastructure every year.
Biopac India Standalone December 2018 Net Sales at Rs 4.08 Cr, down 67.63% Y-o-Y
The net sales of the Biopac in December 2018 was Rs 4.08 Cr. down to 67.63% from Rs. 12.60 Cr. in December 2017. Quarterly net loss in December 2018 was Rs. 7.01 down to 6579.94% from December 2017. In December 2018, Earnings before interest, tax, depreciation, and amortization (EBITDA) stands negative at Rs. 4.40 Cr. Down to 246.67% from 3.0 Cr. in December 2017. The shares of the Biopac closed at February 08, 2019 and has earned 26.96% returns during the past 6-months and -78.81% during the last twelve months.
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