Leading biodegradable disposable tableware manufacturers are increasingly investing in boosting their penetration into emerging economies to profitably widen their consumer demographic.
DUBAI, UAE / ACCESSWIRE / July 29, 2020 / Future Market Insights: The global biodegradable disposable tableware market is anticipated to rise with a promising 6.5% CAGR through the end of the forecast period in 2030. The coronavirus pandemic has had a negative influence on the biodegradable disposable tableware market. Market players are facing disruptions in raw material supplies. In addition, the food service industry has been forced to partially suspend operations owing to lockdown measures. These factors will significantly hinder market growth for the short term.
"Increasing consumer bias towards food service facilities, coupled with environmental conservation awareness are key factors that are bolstering the adoption of biodegradable disposable tableware. Innovations and new sources of compostable materials will aid in greater penetration by market players for the foreseeable future," says the FMI analyst.
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Biodegradable Disposable Tableware Market - Key Takeaways
- Paper-based biodegradable disposable tableware is displaying fast growth, supported by research by manufacturers towards affordable and recyclable offerings.
- Edible tableware is gaining traction in niche food service applications, aided by consumer interest in the novelty of the products.
- Asia Pacific is a fast-growing market owing to the rapidly growing food service industry and strict regulation on plastics in multiple countries in the region.
Biodegradable Disposable Tableware Market - Key Driving Factors
- Rising consumer awareness about the environmental impact of non-biodegradable plastics, coupled with strict government policies create major growth opportunities.
- Sustainability initiatives taken up by numerous food services businesses support adoption of biodegradable disposable tableware.
Biodegradable Disposable Tableware Market - Key Constraints
- Biodegradable alternatives to conventional disposable tableware are more cost prohibitive, holding back adoption rates.
- Numerous biodegradable materials face scrutiny owing to emissions of greenhouse gases during decomposition, hindering market growth.
The Anticipated Impact of Coronavirus
The coronavirus pandemic has had a strong impact on the global food service industry. Government lockdown measures are suspending the operations of many businesses in the sector, reducing demand for biodegradable disposable tableware in the short term. In addition, cost concerns have also forced businesses to revert to cheaper conventional cutlery, which hurts market prospects. On the other hand, household use of biodegradable disposable table ware has increased marginally partially mitigating losses.
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Competition Landscape
Major manufacturers in the biodegradable disposable tableware market include but are not limited to Eco-Products Inc., Huhtamäki Oyj, Natural Tableware, Lollicup USA Inc., Genpak LLC, Vegware Ltd., Dispo International, Dart Container Corp., Papstar GmbH, SOLIA Inc., Pacovis AG, and Dixie Consumer Products.
Biodegradable disposable tableware manufacturers are increasingly pushing for research into the identification of new raw material sources, in addition, to widening scope of applications in untapped verticals.
For instance, PreistmanGoode are experimenting with materials such as algae and banana leaf for tableware production for air travel meal service applications. Mexico-based Biofase has unveiled an entire range of biodegradable, disposable utensils, manufactured entirely from avocado pits. Also, UK-based Cornware has come up with disposable tableware produced from potato, corn and sugarcane waste.
More About the Report
The FMI's market research report offers detailed insights on biodegradable disposable tableware market. The market is scrutinized on the basis of material type (plastic, paper, and others), product type (cutlery, plates, bowls, cups, trays, and others), and end use (food service, institutional, and household), across five key regions (North America, Latin America, Europe, Asia Pacific, and Middle East and Africa).
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SOURCE: Future Market Insights