Pulp & Paper Continue to Generate Greater Total Return to Shareholders
Sustainability requirements are advancing at every level of the value chain, with rising scrutiny by social activists, and consumer preference for eco-friendly products. As such, market players will continue to capitalize on pulp & paper for developing biodegradable tableware, over the decade ahead. Around 9 out of 10 stakeholders are inventing in this material. Bio-plastics such as polylactic acid (PLA), and starch-based materials are also attracting stakeholders’ attention. Nevertheless, they would reap superior returns from pulp & paper.
Asian Markets to Attract Noteworthy Investments
Europe, at present, is at the forefront in the global biodegradable tableware market, procuring around a quarter of total revenue. The region is leading the pack when it comes to sustainability; under its “New EU Directive for Single-Use Plastics”, Europe strives to curb the discharge of single-use plastic items frequently found on native beaches. In a similar fashion, countries - China, Thailand, and Indonesia - have announced to completely phase out the usage of single-use plastics in conventional stores.
Further, Asia is amongst the leading producers of bio-based materials such as sugarcane and bamboo. FMI finds that, the Asian biodegradable tableware market would hit US$ 2 Bn in 2027.
Leveraging Biodegradable Waste to Enhance Product Portfolio
Biodegradable tableware is an eco-friendly alternative to tableware products derived from of plastic. Manufacturers are banking on biodegradable waste to produce biodegradable tableware. Bagasse - a residue that remains after utilizing the stalks to extract its juice - rice bran, wheat, and maize, is leveraged to develop biodegradable tableware. For instance, Biotrem has manufactured biodegradable tableware derived from wheat bran. Furthermore, manufacturers are exploring recyclable waste such fallen palm leaves and paper waste in order to broaden the horizon of their product lines.
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How Growth will Unfold
The commercial sector would remain the primary end user, wherein, the consumption of biodegradable tableware is expected to nearly double through 2029. Given the benefits of convenience and hygiene, biodegradable tableware is a favorable option in catering and quick-service restaurants (QSRs), under commercial use. This study further outlines that, the commercial sector would grab around 3/5 of overall market revenue. Market players are also targeting the institutional sector, which would represent a multibillion-dollar opportunity in 2020.
BIODEGRADABLE TABLEWARE MARKET TAXONOMY
The global biodegradable tableware market is segmented in detail to cover every aspect of the market and present complete market intelligence to the readers.
- Pulp & Paper
- Starch-based Bioplastic
- Polylactic Acid (PLA)
- Polybutylene Succinate (PBS)
- Polyhydroxybutyrate (PHB)
- Others (PHA, etc.)
- Fresh-cut Fruits & Vegetables
- Processed Food Products
- Ready-to-eat Meals
- Other Food Products
- Carbonated Beverages
- Non-carbonated Beverages
- Commercial Use
- Full Service Restaurants
- Quick Service Restaurants
- Others (Cafés, Lounges, etc.)
- Institutional Use
- Household Use
- North America
- Latin America
- South Asia
- East Asia