IMARC Group's latest report, titled “Biodegradable Food Service Disposables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global biodegradable food service disposables market was worth US$ 2.4 Billion in 2018. Biodegradable disposables are environment-friendly alternatives of plastic and paper disposables. They are primarily manufactured using naturally derived substances such as corn starch, wheat bran, bamboo, sugarcane fiber (Bagasse), areca nut sheaths, and dried leaves including palm leaves and coconut coir. In comparison with non-biodegradable disposables, biodegradable disposables can break down completely over time by the action of biological organisms and processes. They also minimize the buildup of waste and contribute to a safer, cleaner and healthier environment. As a result, the demand for biodegradable food service disposables is increasing across the globe.
The market is experiencing moderate growth owing to the growing environmental concerns and shifting consumer preferences toward eco-friendly products. Moreover, governments in several countries are implementing bans on plastic products and stringent regulations to control landfills. Apart from this, food service providers and non-governmental organizations are undertaking initiatives for reducing plastic and paper waste by introducing various awareness campaigns. This, in turn, is boosting the overall usage of eco-friendly products like biodegradable food service disposables. Additionally, the easy availability of raw materials for the production of these disposables acts as another growth-inducing factor. Further, rapid urbanization, sedentary lifestyles and on-the-go food culture are anticipated to fuel the growth of the market in the upcoming years. Looking forward, the global biodegradable food service disposables market size is projected to reach a value of US$ 3.4 Billion by 2024, expanding at a CAGR of 5.5% during 2019-2024.
- Based on the product type, the market has been classified into cups, clamshells and containers, plates, cutleries, and others. At present, cups dominate the market, holding the largest share.
- On the basis of the raw material, the pulp and paper segment accounts for the majority of the total market share. Other major segments include biopolymers, leaves and wood.
- The market has been bifurcated on the basis of the distribution channel which includes business-to-customer (B2C) and business-to-business (B2B). The business-to-customer segment has been further segregated into supermarkets and hypermarkets, online stores and others. Currently, supermarkets and hypermarkets exhibit dominance in the market.
- Region-wise, the market has been divided into Middle East and Africa, Europe, North America, Asia Pacific, and Latin America. Presently, Europe represents the biggest market, holding the majority of the global share.
- The profiles of the key players operating in the market have also been provided in the report along with the analysis of the competitive landscape.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter : @imarcglobal