12.5 C
HomeBusinessBiodegradable Tableware Market size, share, Application,Types,(CAGR) of 6.45% during the forecast period...

Biodegradable Tableware Market size, share, Application,Types,(CAGR) of 6.45% during the forecast period 2023 – 2030

Biodegradable Tableware Market-Overview

The biodegradable tableware market size was valued at USD 0.9billion in 2022. The biodegradable tableware industry is projected to grow from USD 0.95 Billion in 2023 to USD 1.39 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.45% during the forecast period (2023 – 2030).

The burgeoning pollution caused by the widespread use and disposal of plastic is propelling the market forward. Governments are also taking steps to reduce the usage of plastic tableware, which will help to drive market growth in the future.

Segmental Analysis

The biodegradable tableware market segmental overview is conducted based on types, materials, and distribution channels. Based on the material, the biodegradable tableware market includes wood, paper, and bio-plastic. By distribution channel, the biodegradable tableware market includes non-store-based and store-based. Based on types, the biodegradable tableware market includes bowls, plates, cups, and cutlery.

Detailed Regional Analysis 

The global biodegradable tableware market is broadly distributed throughout several areas, including Europe, North America, and Asia-Pacific. North America is the dominant region in this market, responsible for more than half of the global market revenue by the end of the current forecast years. Europe is the second most popular region for using biodegradable tableware. Germany and the United Kingdom are the main contributors to the European market. To accommodate the demand for biodegradable tableware, other regions are increasing their manufacturing and supply rates.

Competitive Analysis

The upsurge in innovative technologies in the global supply chain is estimated to generate opportunities during the forecast period. The market is projected to witness an improvement in growth cues in the near future. The reclaimed market potential is projected to augment the worldwide market’s progress. The mindset of hypervigilance in the aftermath of the pandemic is intended to guide market decisions throughout the projected period. The market’s production stability is predicted to be variable. The essential policies being developed by government bodies worldwide are thought to have a powerful role in the global advancement of the market. The restructuring of the market’s fundamental operations is expected to impact the market shortly. Each manufacturer is expected to make microeconomic decisions to ensure long-term business growth and continuity during the forecast timeframe. The COVID-19 pandemic’s drastic changes in the global financial intermediation structure are believed to influence how firms acquire finance in the comparable period.

The renowned contenders in the biodegradable tableware market key players are 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), among others.

Industry Updates:

June 2021:

Vinay Kumar Balakrishnan, a Geologist from Kerala, launched an edible cutlery brand, ‘Thoosan,’ which offers cutlery featuring wheat bran.

July 2021:

Defence Research and Development Organization (DRDO), an Indian government agency, launched biodegradable packaging products from natural and plant-based food-grade materials to eliminate single-use plastic.

NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited), 

99 Hudson Street,5Th Floor, New York, New York 10013, United States of America


explore more