Biodegradable Tableware Market Latest Trends & Forecasts till 2024
Increasing popularity of innovative and non-toxic tableware products. The growth can be attributed to the increasing pollution caused by the widespread use and disposal of plastic. Governments are also taking initiatives to minimize the use of plastic tableware. For instance, the Indian government has replaced plastic cutlery, teacups, and water bottles with steel and biodegradable products in all government offices. The UK government is also planning to ban plastic cutlery and plates to reduce the impact on the environment.
Biodegradable Tableware Market is projected to reach USD 990.6 Million by 2025 at a CAGR of 5.98% between 2019 and 2025.
Growth Opportunities in the Market
- Expanding foodservice industry: The foodservice industry has witnessed substantial growth over the last few years, especially in emerging economies. The demand for takeaway food has been increasing in developing nations due to the preference by the youth. The busy lifestyles of consumers have led to the popularity of convenience and takeaway food. For example, China’s foodservice industry was valued at USD 583 billion in 2017. The demand for online food delivery has also been rising. According to MRFR analysis, the sales of online food delivery services was valued at USD 39 billion in 2018 and the market is expected to register a growth rate of 16% over the next decade. Several fast-food chains such as KFC and Starbucks have increased the number of outlets in India. Online food delivery service providers are also expanding their presence in the country. These factors are expected to drive the demand for biodegradable tableware as an environment-friendly alternative to plastic.
- Product Innovation: The key manufacturers of biodegradable tableware are continuously launching products to stay competitive and meet the changing requirements of consumers. For instance, in July 2019, Huhtamaki Oyj launched a new biodegradable double-wall cup for hot beverages made from paperboard that is certified by the Programme for the Endorsement of Forest Certification with a plant-based lining which is certified biodegradable. The product is manufactured in the UK and available only for European consumers.
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- 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)
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