A comprehensive overview of the Biodegradable Tableware market is recently added by UnivDatos Market Insights to its humongous database. The Biodegradable Tableware report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Biodegradable Tableware market. The Biodegradable Tableware report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates Biodegradable Tableware at the global and regional levels. The Biodegradable Tableware Market is expected to grow at an exponential CAGR of around 6% from 2021-to 2027.
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Market Overview
Biodegradable tableware is a type of compostable and biodegradable product, designed to reduce methane emissions as they are made from renewable resources such as sugarcane, bamboo, paper, and others. Tableware contains bowls, plates, and cups that will offer many benefits which are suitable for hot and cold beverages, high strength, and performance.
A rise in the awareness among consumers about the bad effect of the usage of regular plastic tableware coupled with the awareness about environmentally friendly tableware, increasing adoption of non-toxic and petroleum-free products are some of the key factors that are contributing to the growth of the market. A rise in plastic pollution across the globe is also a prominent reason driving the demand for biodegradable tableware. As per the UN environment program, around one million plastic bottles are purchased every minute across the globe, while up to five trillion plastic bags are used worldwide every year. In total, half of all plastic produced is designed for single-use purposes – used just once and then thrown away. Moreover, With the global production of primary plastic forecast to reach 34 billion tonnes by 2050, the demand for biodegradable tableware is on the rise.
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COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. All industries have suffered some form of loss due to the pandemic and the biodegradable packaging and tableware industry has not been left untouched by this unprecedented crisis of modern times. This industry has its share of challenges due to the COVID-19 pandemic as the lockdown restrictions have resulted in the widespread closure of many production and manufacturing functions. As a result, there has been a decline in demand for certain types of biodegradable tableware. `
The Biodegradable Tableware Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product type, the market is primarily bifurcated into
• Cups
• Plates
• Bowls
• Others
The bowls segment grabbed XX% market share in 2020 and dominated the market. The growing application of biodegradable bowls as packing lunch, Train, airplane meals (the Indian Railways have introduced biodegradable bowls to encourage the reduction of plastic waste), eating outdoors, takeaway, Foraging, etc, is also acting as a growth catalyst to the growing share of the bowls segment.
By Distribution Channel, the market is primarily bifurcated into
• Online
• Hypermarket/ Supermarket
• Others
The hypermarket/ supermarket segment grabbed XX% market share in 2020. Expanding hypermarkets/ supermarkets globally is leading to the growth of this segment. As per a study by Harward business review 73% of customers use multiple channels to shop. Moreover, in 2019, 90% of retail sales happened in physical stores in the United States.
Biodegradable Tableware Market Geographical Segmentation Includes:
· North America
· Europe
· Asia-Pacific
· Rest of the World
Based on the estimation, the Asia-Pacific region grabbed XX% market share in 2020. A rise in the investment in the hospitality sector is leading to the growing number of hotels and restaurants which is gaining end-users traction, and the market is booming. As per a report by JLL, approximately US$7 billion in transactions in 2021, an increase of 20% year-on-year, up from US$5.8 billion in 2020.
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The major players targeting the market includes
• Biotrem
• DOpla SpA
• Huhtamaki
• Natural Tableware
• Pactiv LLC
• Eco-Products, Inc.
• Al Bayader International
• Dart Container Corporation
• Reynolds Consumer Products
• Cosmos Eco Friends
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Biodegradable Tableware market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the Biodegradable Tableware Market?
· Which factors are influencing the Biodegradable Tableware market over the forecast period?
· What are the global challenges, threats, and risks in the Biodegradable Tableware Market?
· Which factors are propelling and restraining the Biodegradable Tableware Market?
· What are the demanding global regions of the Biodegradable Tableware Market?
· What will be the global market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by global companies?
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