Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The "Global Biodegradable Disposable Tableware Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global biodegradable disposable tableware market is on track to experience significant growth, with an anticipated Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period from 2023 to 2030. Biodegradable disposable tableware, designed to reduce methane emissions and combat plastic waste, is gaining traction worldwide. These eco-friendly tableware products are crafted from renewable resources like sugarcane, bamboo, paper, and others.
With stringent regulations curbing the use of plastic-based disposable cutlery, there has been a substantial increase in demand for biodegradable or wood-based alternatives. As a result, many fast-food operators, small snack businesses, and food delivery chains have transitioned to serving food in sustainable and eco-friendly cutlery, leading to remarkable market growth. Market players are continually innovating to introduce even more environmentally friendly biodegradable disposable tableware solutions. For example, in July 2022, Social Venture Marine Innovation partnered with French brand ARGO to export eco-friendly plates and cups made from seaweed by-products under the name "Janoodam," meaning "Sharing and keeping the nature" in Korean. These initiatives drive the adoption of biodegradable disposable tableware and contribute to a greener and more sustainable future.
Segmental Outlook
The global biodegradable disposable tableware market is segmented based on material, product type, and end-user. Materials include plastic (synthetic biodegradable plastic like PCL and PBS, and bio-based biodegradable plastic like PLA, PHB, and starch-based), paper and paperboard (wood and non-wood materials such as straw, leaves, bamboo, and sugarcane). Product types encompass cutlery, bowls, plates, cups, trays, and others. End-user categories consist of food service, households, and institutions (schools, hospitals, cinemas, and railways).
The paper and paperboard sub-segment among materials is expected to hold a significant share due to the growing social and environmental awareness, driving the use of easily disposable materials.
The Food Service Sub-Segment is Anticipated to Hold a Considerable Share of the Global Biodegradable Disposable Tableware Market
Among end users, the food service sub-segment is expected to hold a substantial share of the global biodegradable disposable tableware market. This growth is attributed to several factors, including the increasing demand for fast food, the rising popularity of online food delivery services, and global government regulations aimed at reducing plastic waste. Major players in the plastic and tableware manufacturing industry are investing in effective biodegradable disposable tableware solutions to meet demand and align with sustainability goals. For example, in August 2021, the "cutout cutlery" campaign initiated by the NGO "Habits of Waste" successfully convinced food delivery organizations to reduce wasteful practices involving single-use plastic cutlery.
The adoption of biodegradable disposable tableware in the food service sector is a positive step towards reducing plastic waste and promoting a more eco-friendly dining experience. This trend is expected to continue as consumers and businesses increasingly prioritize sustainability and environmental consciousness.
Regional Outlook
The global biodegradable disposable tableware market is further segmented by geography, including North America (the US and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and the Rest of Asia), and the Rest of the World (the Middle East & Africa and Latin America). Among these regions, Asia-Pacific is anticipated to hold a prominent share of the global market, primarily due to the widespread implementation of regulations banning single-use plastics in countries like India and China.
The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Biodegradable Disposable Tableware Market
The Asia-Pacific region is projected to experience substantial growth, driven by a shift towards the adoption of biodegradable disposable tableware solutions in response to bans on single-use plastics. For example, in November 2022, Australia implemented a ban on various single-use plastics, including straws, cutlery, and bowls, as well as polystyrene foam food containers. Businesses that violate these regulations could face significant fines.
Asian countries are leading the way in adopting biodegradable disposable tableware in an effort to combat environmental issues related to single-use plastics. With rapid economic growth and increasing environmental awareness, governments, businesses, and individuals are taking collective action to reduce the environmental impact of plastics. For example, in June 2023, China, with its large population and industrial capacity, took the lead in promoting biodegradable disposable tableware. The Chinese government's stringent regulations on single-use plastics prompted a surge in the production and use of biodegradable alternatives.
Market Players Outlook
Key companies in the biodegradable disposable tableware market include Huhtamaki Oyj, BIOTREM Sp. z o.o., BioPak Pty Ltd, Better Earth LLC, Vegware, Pactiv LLC, and others. These market players are actively contributing to market growth through strategies such as mergers, acquisitions, partnerships, collaborations, funding, and the introduction of new products to maintain their competitiveness. For instance, in February 2022, CHUK, a compostable food service ware brand, partnered with Blinkit, an instant delivery service brand in India, as its sustainability partner. This partnership aims to meet the growing demand for sustainable tableware in India, aligning with CHUK's vision of a world where compostable tableware becomes the standard.
The Report Covers:
- Market value data analysis for 2022 and forecasted figures until 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global biodegradable disposable tableware market. The report also includes information on new product launches and relevant news, where available.
- Analysis of business strategies by identifying key market segments poised for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying industry players and their positions in the market.
For more information about this report visit https://www.researchandmarkets.com/r/ixd4mp
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