Biodegradable Tableware Market hits a growth spurt on account of increasing government initiatives to promote the use of eco-friendly products

Global Biodegradable Tableware Market, by Product Type (Cups, Plates, Bowls, and Others (Trays, Straw, and Spoon)), by Raw Material (Paper, Bamboo, Palm Leaf, and Others (Bagasse)), by Distribution Channels (Specialty Stores, Hypermarket & Supermarkets, Online Stores, and Convenience Stores), and By Geography (North America, South America, Europe, Asia Pacific, and Middle East & Africa), is projected to attain a market valuation of US$ XX million in 2021 and is anticipated to grow at a CAGR of XX% over the forecast period (2021-2028), as mentioned in a new report published by Coherent Market Insights.

Overview

Biodegradable tableware is a sustainable alternative to traditional disposable tableware. Made from renewable resources, these materials reduce landfill accumulation and are hygienic. They are also highly durable, sanitized and resistant to water and oil. They can even withstand microwave use and reheating. The tableware can be composted in 90 days. This type of disposable tableware is made of plant biomass and can be easily turned into soil. These eco-friendly products are thicker than Styrofoam, which makes them a superior choice for food preparation. Favorable government regulations and evolving consumer preferences are driving the demand for biodegradable tableware.

Competitive Landscape

Major companies contributing to the global biodegradable tableware market include Vegware Ltd, Better Earth LLC, BioPak, Biotrem, Huhtamäki Oyj, Georgia-Pacific LLC, Natural Tableware, Genpak, LLC, Eco Guardian, and Pactiv LLC.

Drivers

Rapidly growing health consciousness coupled with rapid industrialization has led to a rise in demand for eco-friendly products, which is expected to foster growth of the biodegradable tableware market throughout the forecast period.

In addition to this, rising awareness over the toxicity of non-biodegradable tableware, combined with the growing population, is expected to supplement growth of the biodegradable tableware market over the forecast period.

Summary of the COVID-19 Debacle

The onset of the COVID-19 virus had a bitter-sweet impact on the global biodegradable tableware market. The pandemic-battered pause in manufacturing operations has created a scarcity of biodegradable products, whereas, on the contrary, the F&B (food and beverage) industry saw a rise in demand amidst booming online food delivery services. The weakness is visible in the supply chain rather than in demand.

Key Takeaways

• The biodegradable tableware market is anticipated to grow at a CAGR of XX % throughout the forecast period due to increasing government initiatives to promote adoption of biodegradable products and rising product launches. For instance, in February 2021, the National Institute for Interdisciplinary Science and Technology (NIIST) of India partnered with Aura Exim to develop a manufacturing facility for producing wheat-ban tableware in large quantities.
• In the geographic overview, the European region is showing a dynamic picture of the global biodegradable tableware market on the heels of a rising number of sustainability projects in accordance with the new EU (European Union) regulations on single-use plastics.
• Bubbling under the top spot, the Asia Pacific region is another hot favorite for the global biodegradable tableware market on account of sky-high health awareness, rapid industrialization, and favorable government initiatives to curb environmental problems.