Market Research Report
Biodegradable Food Service Disposables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||757509|
|Published||Content info||102 Pages
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|Biodegradable Food Service Disposables Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: April 8, 2019||Content info: 102 Pages||
The global biodegradable food service disposables market reached a value of US$ 2.4 Billion in 2018. Completely, biodegradable disposables are made from naturally-occurring substances such as sugarcane fibre (Bagasse), corn starch, wheat bran, bamboo, areca nut sheaths, dried leaves such as palm leaves, coconut coir, etc. Environmental concerns arising from the usage and disposal of paper disposables are currently driving the growth of the global biodegradable food service disposables market. For instance, paper disposables made from wood fibre are causing the destruction of millions of acres of forests and the inner polyurethane layer in paper disposables restricts their biodegradability. On the contrary, completely biodegradable materials are usually compostable which indicates that upon degradation, these materials release valuable nutrients into soil making it more fertile.
Increasing environmental concerns due to the rising usage and disposal of paper disposables have created strong potential for the biodegradable food service disposables market to grow in the coming years. Plastic ban in several countries and rising consumer awareness about the environmental impact posed by plastic and paper disposables have resulted into increased preference for completely biodegradable alternatives. Moreover, continuous urbanisation, sedentary lifestyles and on-the-go food culture are expected to further propel the growth of the market in the short and medium terms. Easy availability of raw materials used in the manufacturing of biodegradable food service disposables is another factor which will provide the manufacturers with ease of production, thereby increasing the availability of these products in the market. Looking forward, the market is further projected to reach a value of US$ 3.4 Billion by 2024, expanding at a CAGR of 5.5% during 2019-2024.