The global biodegradable tableware market is expected to exhibit a solid 5.98% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The report projects that the global biodegradable tableware market is expected to reach a valuation of USD 990.6 million by 2025. The research report profiles the global biodegradable tableware market in great detail and provides readers with a comprehensive overview of the market. The market’s historical growth trajectory, present conditions, and future growth prospects are studied in the report. The report provides a comprehensive overview of the market’s historical growth trajectory by detailing the historical stats regarding the market.
Future projections are based on the detailed historical stats offered in the report. Based on this platform, future projections for the biodegradable tableware market’s growth trajectory over the forecast period are provided in the report. The report also profiles the leading players in the global biodegradable tableware market and gives readers a comprehensive analysis of the leading players in the global Biodegradable Tableware Market Analysis. The report also profiles the major drivers and restraints affecting the global biodegradable tableware market. The factors making the market tick and those holding the market back are studied in detail in the report. The impact of the COVID-19 pandemic on the biodegradable tableware market is also assessed in the report.
Biodegradable tableware has come in vogue in recent years due to the growing environmental consciousness among consumers. Consumers are now increasingly becoming more environmentally conscious and aware of the various ways in which they affect the environment. As a result, they are looking to minimize their adverse impact on the environment in every way possible. Biodegradable tableware is one of many ways in which conscious consumers can reduce their impact on the environment. The growing development of biodegradable bioplastics is also likely to be a major driver for the global biodegradable tableware market over the forecast period. Bioplastics have enjoyed strong investment in the last few years due to their combination of the benefits of plastics and environmental viability. This is likely to be a major driver for the global biodegradable tableware market over the forecast period.
On the other hand, the lack of awareness about biodegradable tableware in developing and underdeveloped countries is likely to be the major restraint against the global biodegradable tableware market over the forecast period. The high costs of biodegradable tableware in comparison to conventional tableware also account for the drop in demand for the same, especially in poorer, underdeveloped countries.
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Leading players in the global biodegradable tableware market include Huhtamaki Oyj, Dart Container Corporation, Georgia-Pacific LLC, Lollicup USA Inc., Solia Inc., Natural Tableware, Reynolds Consumer Products LLC, Pactiv LLC, Eco Guardian, Genpak LLC, Biotrem, Better Earth LLC, Vegware, Papstar GmbH, and Bionatic GmbH & Co. KG.
The global biodegradable tableware market is segmented on the basis of product type, material type, distribution channel, and region.
By product type, the global biodegradable tableware market is segmented into plates, bowls, cups, cutlery, and others. The plates segment holds the dominant share in the global biodegradable tableware market and is likely to remain the dominant segment over the forecast period.
By material type, the global biodegradable tableware market is segmented into paper, bioplastics, wood, and others. The paper segment dominates the global biodegradable tableware market.
By distribution channel, the global biodegradable tableware market is segmented into store-based and non-store-based. The store-based segment is further sub-segmented into supermarkets and hypermarkets, convenience stores, and others. The store-based segment dominates the global biodegradable tableware market, as consumers can test out the tableware before buying it from stores.
Europe is the leading regional market for biodegradable tableware due to the widespread environmental consciousness among consumers in the region. The European Commission has banned the use of single-use plastic cutlery, plates, and straws in the region (by 2021), leading to more support for the biodegradable tableware market.
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