ID: MRFR/CR/7157-HCR | February 2021 | Region: Global | 111 pages
Biodegradable Tableware Market is projected to reach USD 1,450.7 Million by the end of 2030 at a CAGR of 6.45% between 2020 and 2030.The use of tableware is evident across all stages of life. Whether someone is traveling, packing food, or is ordering online, there is bio-degradable tableware everywhere. This is because the supply rate is substantially high, and the key players have managed to pass on the environment-care message to their audiences.
The report intends to drive the focus towards impeccable growth of the biodegradable tableware market. Along with that, it also highlights the market segmentation, regional analysis, competition analysis, and other important areas of consideration. With all of the observations, it is evident that the market size of the global market will be larger in the current forecast years than in the previous period.
COVID 19 Analysis
COVID 19 did bring up a mixed performance for the biodegradable tableware market. The online food deliveries were up during the lockdown months, which used the biodegradable tableware on priority. But the manufacturing pace was low, and the supply was minimal. As a result, the consumers returned to the use of plastic.
Hence, this was again a drawback for the market. But with the situations under control now, the market is booming with impeccable production and thorough advertising. As a result, the biodegradable tableware market size will rise incredibly in the present forecast years.
Chief variables existing in the market
There is a very rapid rise in environmental consciousness amongst the people. Air and soil pollution is increasing at a very high rate across the world. As per the statistics are concerned, around 4.2 million deaths are caused every year through air pollution. And around 19% of China's agricultural soil is polluted!
Hence, it becomes important for people to adopt biodegradable remedies to avoid such critical environmental hazards in such scenarios. The biodegradable tableware market forecast states that environmental concerns will aggregate the demand rate of eco-friendly tableware products.
The market challenge for the biodegradable tableware industry is that plastic options are available at cheaper rates for beating the competition. Most countries have not imposed any ban upon non-biodegradable tableware, restricting the demand for bio-degradable products. In 2019, the demand for plastic only across India was around 16 million metric tons, a market challenge for the biodegradable tableware industry.
Therefore, the key players are trying to advertise the environmental benefits of biodegradable tableware products to divert customers' attention from cheap plastic products. The cheaper products might be handy but are harmful to the environment and air that people breathe in. Therefore, this spread of awareness will help the industry get rid of this challenge.
Many government initiatives are supporting the cause, and it is a driving potential as well. Most governments are showing good responses upon banning plastic usage and showing concern for environmental care. Keeping that in mind, this biodegradable tableware market is setting up its gear to do more business.
In addition to that, the increase in the online food delivery system allows this market to sell more of its goods to a larger customer base. Online food delivery makes use of biodegradable cups, plates, bowls, and other such tableware essentials, which are disposed of often! Due to their biodegradable nature, they do not harm the environment.
Most of the under-developed or developing nations have limited awareness of these products. As a result, the market also restricts itself from doing business around such regions. Hence, it is one of the most crucial market restraints that is suppressing market growth.
Apart from that, the cost of biodegradable tableware is higher than that of plastic ones. The demand is accelerating the cost of materials, and thus the manufacturing costs add up as well. So, the final product is quite expensive as tableware is concerned.
Cumulative Analysis of the Market
The cumulative biodegradable tableware market analysis states the market driving potential, challenges, restraints, and important opportunities for its operational peak. The key players balance the challenges and utilize the opportunities to ensure a productive growth pace for the global market. They are also advancing their production units to stabilize the supply and demand scale.
The cumulative analysis states the positive growth figure of the biodegradable tableware market. The key players offering the products in different regions are giving in high-end manufacturing and advertising efforts to increase sales. And as of now, the sales rate has experienced a massive boom.
Overview of the Main Market Segments
By Product Type
Based on the product segmentation, the global biodegradable tableware market is categorized into different types. These types include bowls, plates, cups, Cutlery, and others. The plates hold the maximum demand ratio and generated the highest market share by the end of 2018.
The plate segment is expected to create the same demand and supply impact as the current forecast years. Moreover, the biodegradable plates are in more demand for the much-needed rise of consciousness towards environmental care. All of the other types of products also possess a similar demand ratio.
Based on the material classification, the global biodegradable tableware market uses different materials for manufacturing the products. The materials used for the purpose are bio-plastic, Wood, Paper, and others. All of these materials vary in their demands, significance, quality, and price.
Paper is the most conveniently used biodegradable tableware material. This material's economical pricing factor is what stands out from all of the other materials. Apart from that, Paper is also available easily across different parts of the globe, making it easy for fast-paced manufacturing of biodegradable tableware.
By Distribution Channel
Based on the distribution channel segmentation, the global biodegradable tableware market makes use of two distribution channels. These channels include store-based and non-store-based. The store-based segment is divided into different hypermarkets and supermarkets. There are many convenience stores as well where the products are sold in high demand.
This segment is accounted for holding up a high biodegradable tableware market share back in 2018. Consumers mostly prefer store-based channels for buying biodegradable tableware by inspecting it in person. But most people also prefer buying them from non-store-based outlets, i.e., e-commerce stores. But as per the report is concerned, the store-based segment is about to experience a growth rate of 22% and more within the current forecast years.
Based on the regional analysis, the global biodegradable tableware market is widely spread across various regions, including North America, Europe, Asia-Pacific, and other parts of the world. North America is the dominating region for this market, contributing towards the final global market revenue by the end of the current forecast years.
Europe is the second region that has a high consumption rate for biodegradable tableware. Germany and UK are the major countries that are superior contributors to the European market. Other regions are also gearing up their production and supply pace to meet the demands for biodegradable tableware.
Competitive Analysis in the Industry
These are the major key players that are contributing to improving the global biodegradable tableware market trends and market size:
Pactiv LLC is one of the best companies putting up immense efforts to maintain the biodegradable tableware market growth compared to all of the other players on the list. The company is trying to add more products to its long list to attract more customers to its brand. As a result, it will eventually help the industry generate better revenue in the long run.
Recent Market Developments
In 2021, the European Commission announced a ban on single-use plastic straws and plastic plates. It is for the sake of controlling the marine pollution aspects.
This biodegradable tableware market outlook gives you an insight into the kitchen items or tableware that are popularly being used in the usual world. In addition to that, this report is giving out the market position for the market. The report also states the global, regional play for an overall market rise in the current forecast years. Different regions contribute different market shares to generate collective revenue. And the contribution of key players is highlighted in this report.
Key Industrial segments
By Product Type:
By Material Type:
By Distribution Channel:
|Market Size||USD 1,450.7 Million (2030)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Material Type, Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Huhtamäki Oyj (Finland), Dart Container Corporation (US), Georgia-Pacific LLC (US), Lollicup USA Inc. (US), Solia, Inc. (US), Natural Tableware, (Netherlands), Reynolds Consumer Products LLC (US), Pactiv LLC (US), Eco Guardian (Canada), Genpak, LLC (US), Biotrem (Poland), Better Earth LLC (US), Vegware (UK), Papstar GmbH (Germany), Bionatic GmbH & Co. KG (Germany)|
|Key Market Opportunities||Demand for non-toxic, compostable, and environmentally friendly tableware|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Biodegradable tableware market CAGR would be 6.45% during the forecast period.
Biodegradable tableware market valuation would be USD 1450.7 million.
The plates segment would encourage biodegradable tableware market growth the most.
The paper segment is slated to dominate biodegradable tableware market.
The store-based segment would dominate biodegradable tableware market.