PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269643
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1269643
Global Biodegradable Cutlery Market is valued approximately USD 40.30 million in 2021 and is anticipated to grow with a healthy growth rate of more than 5.9% over the forecast period 2022-2029. One major reason that is anticipated to propel the market during the forecast period is growing awareness of the negative consequences connected with non-biodegradable plastic trash. In order to outlaw the non-biodegradable plastic, numerous governments have also created strict restrictions and policies. The market for biodegradable dinnerware is expected to increase as a result of favourable government initiatives and growing consumer awareness of the drawbacks of non-biodegradable plastic.
Numerous businesses are investing heavily in R&D to create affordable biodegradable kitchenware. For instance, a chemical business called Green Science Alliance created a natural biomass in March 2019 from waste paper, plants, wood, and tree trimmings. The material's natural components make it completely biodegradable and recyclable. This cutting-edge product will spur the expansion of the compostable cutlery sector and open up new opportunities. Along with this, according to Eating Better report of 2020, in UK, 88% of adults eat ready meals or ready-to-cook foods. 2 in 5 people eat ready meals every week. According to Statista, frequency of ready meal consumption is increasing year-over-year in United Kingdom. Such as, in 2019, 3,410 thousand people were consuming ready meals more than once a week, which surged to 5,328 thousand in 2020. However, the high cost of Biodegradable Cutlery stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Biodegradable Cutlery Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2021, Europe had the title of largest regional market. The focus of many startup businesses and significant producers of biodegradable kitchenware is on new product development and innovation in raw materials. For instance, the German startup company Leaf Republic Gmbh unveiled a complete line of tableware made from leaves. These goods are constructed entirely from leaves and paper made from leaves, with no artificial additives, colours, or glue of any kind. After use for 28 days, these goods biodegrade. Over the course of the projected period, it is predicted that such novel product introductions will fuel market expansion. Due to the rising number of eateries and fast-food outlets in the region as well as the strict rules regarding the plastic ban imposed by the governments of several nations, including China, India, and Australia, the Asia Pacific region is a significant regional market. Additionally, utilising wooden cutlery like chopsticks is customary in China, Japan, and some other eastern nations. The use of biodegradable kitchenware in the area is expanded by this custom.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Raw Material offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable