Biodegradable Tableware Market Led To A Lucrative Growth With USD 24.69 Billion By 2030

 San Francisco, 9 Feb 2024: The Report Biodegradable Tableware Market Size, Share & Trends Analysis Report By Product (Plates/Trays, Bowls), By Raw Material (Wood, Bamboo), By Application (Household, Commercial), By Region, And Segment Forecasts, 2024 - 2030

The global biodegradable tableware market size is expected to reach USD 24.69 billion by 2030, registering a CAGR of 6.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Consumers are becoming increasingly aware of plastic pollution and its impact on the environment. Businesses are increasingly adopting sustainable practices to reduce their environmental footprint and appeal to eco-conscious consumers. Biodegradable tableware offers a solution for businesses to reduce waste and demonstrate their commitment to sustainability.

Research indicates that more than 80% of debris found in oceans is made up of plastic. This plastic affects marine animals like whales, turtles, and birds, and also enters the human food chain through fish and shellfish. Therefore, it is essential to find sustainable solutions in the food service industry worldwide. According to a 2021 study published in Science Advances, almost 80 percent of all plastics found in the ocean come from Asia. 

Companies are opting for biodegradable tableware for their corporate events to demonstrate their commitment to sustainability. Moreover, the demand for environmentally-friendly tableware is increasing, as local government bodies are introducing regulations to restrict the use of single-use plastics, which creates a favorable environment for biodegradable alternatives. The EU is also taking action against plastic pollution by banning certain single-use plastics. As of July 3, 2021, single-use plastic plates, cutlery, straws, balloon sticks, cotton buds, cups, food, and beverage containers made of expanded polystyrene, and all products made of oxo-degradable plastic cannot be placed on the markets of EU Member States.

Businesses are increasingly adopting sustainable practices to reduce their environmental impact and appeal to eco-conscious consumers. Moreover, wide-scale availability of biodegradable tableware through online retailers, supermarkets, and specialty stores, is supplementing the demand for such products. Hotels, restaurants, and cafes have been at the forefront of the adoption of eco-friendly tableware. Steady growth in the global travel and tourism industry is further boosting industry size. According to the World Travel & Tourism Council, the travel and tourism sector contributed 7.6% to global GDP in 2022.

Manufacturers are continuously investing in research and development to create new and improved biodegradable materials that are eco-friendly, affordable, and visually attractive. For instance, in March 2021, Marine Innovation, a social venture supported by SK Innovation, launched new eco-friendly plates made of seaweed by-products under the brand name Janoodam. These plates are intended for use in hotels, resorts, and restaurants and have been recognized by DIN CERTCO, the certification body of TÜV Rheinland Group. The company had also announced plans to introduce eco-friendly seaweed paper cups in July 2021.

 

Access Research Report of Biodegradable Tableware Market @ https://www.grandviewresearch.com/industry-analysis/biodegradable-tableware-market-report

Biodegradable Tableware Market Report Highlights

• Based on product, the plates/trays segment dominated the market in 2023. Plates offer a convenient and disposable solution for various dining occasions, from picnics and outdoor events to parties and everyday meals. Biodegradable materials like sugarcane bagasse, bamboo, palm leaves, and wood are commonly used to create plates that are sturdy enough to hold even greasy or liquid food items without leaking
• Based on raw material, the paper segment is expected to surge in the forecast period. Paper-based tableware is generally the most affordable biodegradable option, making it accessible to a wider range of consumers and businesses. Governments in several countries are implementing bans and restrictions on single-use plastics, indirectly promoting the use of paper-based alternatives
• Based on application, the commercial segment held the majority revenue share in 2023 owing to stringent government regulations and bans on single-use plastics, growing demand for sustainable solutions in food service industry, increasing popularity of takeaway and delivery food services, and focus on sustainable packaging solutions in cafes, hotels and restaurants
• Asia Pacific is anticipated to grow with the highest CAGR over the forecast period. This is due to factors like increasing industrialization, rising disposable incomes, growing environmental awareness, and increasing government regulations

Biodegradable Tableware Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 16.23 billion
Revenue forecast in 2030	USD 24.69 billion
Growth rate	CAGR of 6.2% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030

List of Key Players in the Biodegradable Tableware Market

• Pactiv LLC
• Reynolds Consumer Products LLC
• Huhtamäki Oyj
• Genpak
• Bionatic GmbH & Co. KG
• Biotrem
• BioPak
• Novolex
• Dart Container Corporation
• PAPSTAR GmbH

Access Press Release of Biodegradable Tableware Market @ https://www.grandviewresearch.com/press-release/global-biodegradable-tableware-market