Biodegradable Cutlery Market Analysis By Key Players, Share, Revenue, Trends, Size, Growth, and Regional Forecast To 2030
The global biodegradable cutlery market size was USD 37.73 million in 2023. The market is set to increase to USD 61.6 million by 2030 at a CAGR of 7.2% during 2023-2030. The rapid expansion of the food and beverage industry is boosting the usage of biodegradable cutlery in restaurants, fast food outlets, and hotels. The increasing need for food product packaging to extend its shelf life without harming the environment is driving the demand for biodegradable cutlery due to its biodegradable and durable nature. Fortune Business Insights™ shares this information in its report titled “Biodegradable Cutlery Market, 2024-2030.”
Information Source: https://www.fortunebusinessinsights.com/biodegradable-cutlery-market-106212
Top Key Company Covered in the Biodegradable Cutlery Market:
- Huhtamäki Oyj (Finland)
- Pactiv Evergeen Inc. (U.S.)
- Vegware Ltd. (U.K.)
- Biotrem (Poland)
- BioPak (Australia)
- Genpak, LLC (U.S.)
- TIPA Ltd. (Israel)
- Ecoware (India)
- Better Earth LLC (U.S.)
- BeGreen Packaging (U.S.)
Segmentation
Surging Demand for Biodegradable Spoons as they are High and Low Temperature Resistant is Fostering Segment Growth
The market is segmented based on product type, including knives, forks, spoons, and others.
The worldwide market is dominated by the spoon category. The market is expanding due to consumer desire for biodegradable spoons since they are gentle on the lips, smooth, and resistant to both hot and low temperatures. They are robust in hot liquids and are useful for sampling ice cream. They are sturdy, fully biodegradable, and environmentally benign.
The Wood Segment Commanded the Market due to its Natural Elements
The market is divided into categories for raw materials, including wood, husk, paper, plastic, and others.
Because wood contains natural ingredients, it held a significant market share for biodegradable cutlery. R&D is a major priority for many market participants in order to produce inexpensive biodegradable cutlery.
Use of the Product in Various Occasions Boosted Commercial Applications
The market is divided into residential and commercial segments based on application. Due to the fact that catering services use this cutlery in a variety of settings, including offices and celebrations, the commercial portion of the market was dominant.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Emergence of Supportive Government Laws Restricting Plastic Tableware to Fuel Market Growth
The consumption of disposable products, such as packaging and tableware, in the food industry is increasing. Market expansion is attributed to the emergence of supportive government laws restricting plastic tableware, including the Make in India initiative. Surging demand for swadeshi goods made of biodegradable products and increasing need for organic cutlery in restaurants, fast food chains, and hotels are the major factors enhancing the biodegradable cutlery market growth. Several market players are adopting sustainability initiatives, and they are also using eco-friendly tableware and packaging. To serve and package food, leading companies are launching a variety of biodegradable paper, cardboard, and plastic cutleries. Rapid innovations in biodegradable cutlery products are driving market expansion.
On the other hand, market growth is hampered by a lack of awareness and less availability of biodegradable products.
Regional Insights
Increase in Product Offerings by Top Producers is Driving Market Expansion in Europe
Europe registers the largest market share. Increasing producers’ concentration on new product offerings to increase their product portfolios and expand production and distribution is driving market growth in the region. Growing demand for biodegradable tableware to decrease greenhouse gas emissions in the region is projected to boost market expansion over the forecast timeframe.
The market in North America is expected to rise during the forecast period due to a growing emphasis on the harmful effects of non-biodegradable plastic waste and the rising adoption of environmentally friendly products.
Competitive Landscape
Top Market Players Focus on Offering Eco-friendly Products to Expand their Product Portfolio
A rise in the introduction of eco-friendly products that are more durable and reusable by key market players is expected to boost market growth in the coming years. For instance, bamboo plates and containers are presented as environmentally friendly and bio-friendly substitutes for plastic cutlery. These organic products give the tableware a classier look and are not toxic.
Key Industry Development
December 2020: A variety of compostable packaging tableware produced from sugarcane fiber, called bagasse, was introduced by an Indian paper and packaging company, Yash Pakka, under the brand name CHUK.
