Welcome to
On Feet Nation
GRAHAM MULFY Online
ramy Online
Ann Online
Summer Online
Layne Online
goditac499 Online
Benjamin Online
franklinjulie Online
jack452 Online
Posted by ramy on April 29, 2024 at 11:40am 0 Comments 0 Likes
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.
Related Press Release@ Biodegradable Tableware Market Report
Biodegradable Tableware Market Report Highlights
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 |
Request For A Free Consultation@ https://www.grandviewresearch.com/request-free-consultation/456347/rfc
Biodegradable Tableware Market Segmentation
Grand View Research has segmented the global biodegradable tableware market based on type, raw material,application and region:
Biodegradable Tableware Type Outlook (Revenue, USD Million, 2018 - 2030)
Biodegradable Tableware Raw Material Outlook (Revenue, USD Million, 2018 - 2030)
Biodegradable Tableware Application Outlook (Revenue, USD Million, 2018 - 2030)
Biodegradable Tableware Regional Outlook (Revenue, USD Million, 2018 - 2030)
List of Key Players in the Biodegradable Tableware Market
© 2024 Created by PH the vintage. Powered by
You need to be a member of On Feet Nation to add comments!
Join On Feet Nation