Biodegradable Tableware Market: Current Analysis and Forecast (2021-2027)

Biodegradable Tableware Market: Current Analysis and Forecast (2021-2027)

The Global Biodegradable Tableware is Expected to Display an Elevated CAGR of around 6% over the forecast period (2021-2027)

A rise in the number of food chains, QSR, and cafés across the globe is leading to the growth of the biodegradable tableware market. As per the Department for Environment Food & Rural Affairs, the expenditure on food, drinks, and catering was USD 312 billion in the United Kingdom in 2019. Also, Canadian fast-food statistics reveal the Canadian fast-food industry is worth an impressive $27 billion in 2021. It is expected to grow by 0.8% compared to the previous year. Also, The fast-food industry Canada facts show up to 34% of Canadians report dreaming of opening a restaurant, in the coming years and 3.7% are thinking of quick service. Casual and family-style restaurants are the most popular choice, and up to 32.7% would choose that.

Furthermore, the rise in the travel and tourism industry is adding pace to the growth of the market. As per the World Bank, the total number of international tourists in the Asia Pacific region reached 487 million in 2019 high from 396 million in 2015. Also, 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 $7 billion in transactions in 2021, an increase of 20% year-on-year, up from $5.8 billion in 2020. Moreover, in the first half of 20201, In total, 61 hotel investment deals were transacted in the first half of the year across nine countries and representing over 10,000 rooms.

Biotrem, DOpla SpA, Huhtamaki, Natural Tableware, Pactiv LLC, Eco-Products, Inc, Al Bayader International, Dart Container Corporation, Reynolds Consumer Products, Cosmos Eco Friends, etc, are some of the prominent players operating in the Biodegradable Tableware market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with innovative products.

Insights Presented in the Report
"Amongst raw material, plastic segment holds XX% market share”

Based on the raw material, the market is fragmented into Wood, Plastic, Paper, Husk, and Others. The plastic segment grabbed the XX% market share in 2020. The segment captured USD XX Mn in 2020. Improving consumer awareness regarding sustainable plastic solutions and increasing efforts to eliminate the use of non-biodegradable conventional plastics contribute to the market growth of biodegradable plastics.
"Amongst application, commercial segment to grab considerable market share”

Based on the application, the market is fragmented into households, Commercial, and Others. The commercial segment grabbed XX% market share in 2020 and dominated the market. The segment captured USD XX Mn revenue in 2020. A growing number of quick-service restaurants and cafes across the globe is leading to the growing demand from the commercial sector.
"Amongst product type, bowls segment to grab considerable market share”

Based on the product type, the market is fragmented into Cups, Plates, Bowls, and Others. The bowls segment grabbed the major market share and dominated the market. The market of this segment would reach USD XX Mn by 2027. The key factors contributing to the growing share of this segment are The growing application of biodegradable bowls as packing lunch, Train, airplane meals are leading to the growth of this segment.
"Amongst distribution channel, hypermarkets/supermarkets segment to grab considerable market share in forthcoming years”

Based on the distribution channel, the market is fragmented into Online, Hypermarket/ Supermarket, and Others. The hypermarkets/ supermarkets segment grabbed XX% market share and captured USD XX Mn market. A rising number of hypermarket/ supermarket markets across countries is leasing to the growing share of this segment. However, the online segment would witness the highest CAGR during the forthcoming years
"Asia-Pacific represents one of the largest markets of Biodegradable Tableware market”

For a better understanding of the market adoption of the Biodegradable tableware Market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific region grabbed XX% market for the Biodegradable tableware Market industry and generated revenue of USD XX Million in 2020. The region is uplifting on account of the rising food and beverages industry. However, the Europe region would witness the highest CAGR during the forthcoming years

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• Deep dive regional level analysis of the industry