Dublin, April 17, 2024 (GLOBE NEWSWIRE) -- The "Biodegradable Food Service Disposables Market Report by Raw Material Type, Product Type, Distribution Channel, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global biodegradable food service disposables market size reached US$ 7.7 Billion in 2023. Looking forward, the market is set to reach US$12.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2023-2032
The growing consumer awareness, increasing disposal issues of plastic and paper disposables, and rising ban on plastic cups represent some of the key factors driving the market.
Europe was the largest market for biodegradable food service disposables. Some of the factors driving the Europe biodegradable food service disposables market included various stringent regulations and bans against single-use plastic and paper disposables, favorable government initiatives to promote the usage of biodegradable alternatives, and insufficient recycling facilities to process all the waste.
In addition to this, the rising utilization of bio-based polylactic acid (PLA) cups and plates in the food service restaurants is positively influencing the market across the region.
Rising Issues of Plastic and Paper Disposables Impelling Market Growth
The rising disposal issues of plastic and paper disposables currently represent one of the primary drivers of biodegradable food service disposables. The plastic and paper disposables cause costly waste contamination problems for local authorities, which in turn, is catalyzing the demand for biodegradable alternatives as compared to non-biodegradable materials. In addition, biodegradable disposables can be disposed into landfills naturally without creating any negative impact on the environment, which is contributing to the growth of the market.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with several small and large players operating in the industry. The volume of new entrants is high in the biodegradable food service disposables industry due to the easy access to distribution network and low capital investment. In addition, the product differentiation and switching costs are low in the biodegradable food service disposables industry.
Biodegradable Food Service Disposables Market Trends:
At present, the increasing disposal issues of plastic, as it is a non-biodegradable product, represents one of the key factors contributing to the growth of the market. Additionally, the rising consumer awareness about utilizing environment friendly products that assist in maintaining hygiene and safety is offering lucrative growth opportunities to industry investors. Apart from this, governing agencies of various countries are encouraging the adoption of biodegradable disposables by imposing a ban on plastic cups, which is offering a positive market outlook.
In addition to this, the wide and easy availability of raw materials used in the manufacturing of biodegradable food service disposables is strengthening the growth of the market. Moreover, the rising focus on biodegradable alternatives due to the lack of recycling facilities for paper and plastic disposables around the world is propelling the growth of the market. Besides this, the growing adoption of biodegradable disposables in the food and beverage (F&B) industry due to the rising demand for ready-to-eat (RTE) products among the masses across the globe is positively influencing the market.
Key Market Segmentation:
The report has provided a detailed breakup and analysis of the biodegradable food service disposables market based on the raw material type. This includes pulp and paper, biopolymers, leaves, and wood. According to the report, pulp and paper represented the largest segment, as they are widely utilized for the production of food service disposables, such as uncoated sugarcane-bagasse, molded bulrush fiber pulp, wheat fiber, palm fiber, bamboo, and reed by-products fiber. In addition, there is a rise in the utilization of paper and pulp, as they are environmental-friendly.
A detailed breakup and analysis of the biodegradable food service disposables market based on the product type has also been provided in the report. This includes cups, clamshells and containers, plates, cutleries, and others. According to the report, cups accounted for the largest market share, as there is a rise in the preference for on-the-go food and convenient solutions due to the busy lifestyle and hectic working schedules of individuals. Moreover, the growing adoption of cups on account of the increasing number of food services joints is positively influencing the market.
A detailed breakup and analysis of the biodegradable food service disposables market based on the distribution channel has also been provided in the report. This includes business to business (B2B) and business to customer (B2C) (supermarkets and hypermarkets, online stores, and others). According to the report, business to business (B2B) accounted for the largest market share, as it involves the sales of the products directly from manufacturers to the commercial sectors, such as hotels and restaurants. Additionally, the rising number of food service chains, along with the thriving hospitality sector across the globe, is supporting the growth of the market.
Key Questions Answered in This Report
- What was the size of the global biodegradable food service disposables market in 2023?
- What is the expected growth rate of the global biodegradable food service disposables market during 2024-2032?
- What are the key factors driving the global biodegradable food service disposables market?
- What has been the impact of COVID-19 on the global biodegradable food service disposables market?
- What is the breakup of global biodegradable food service disposables market based on the product type?
- What is the breakup of global biodegradable food service disposables market based on the raw material type?
- What is the breakup of the global biodegradable food service disposables market based on the distribution channel?
- What are the key regions in the global biodegradable food service disposables market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (US$) in 2023 | US$7.7 Billion |
| Forecasted Market Value (US$) by 2032 | US$12.3 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/vcakj9
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