November 07, 2023 08:48 ET | Source: Research and Markets Research and Markets
Dublin, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The "Biodegradable Cutlery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering. Spoon And Fork And Knife
The global biodegradable cutlery market has witnessed substantial growth, achieving a market size of US$ 42.9 million in 2022. The market is poised to continue its expansion, with an anticipated compound annual growth rate (CAGR) of 4.9% during the forecast period of 2023-2028, ultimately reaching a total valuation of US$ 56.9 million.
Biodegradable cutlery consists of spoons, knives, forks, straws, stirrers, and flatware made from natural materials like agricultural residues, palm leaves, bamboo, bagasse, and cornstarch-based polylactic acid (PLA) plastic. These items can naturally decompose into organic materials through microbial activity, minimizing pollution, energy consumption, and waste production compared to traditional plastic and petroleum-based products. Manufacturers offer customization options for biodegradable cutlery, allowing for tailored shapes, sizes, and colors.
The global biodegradable cutlery market is primarily driven by increasing consumer awareness of the harmful environmental effects of non-biodegradable plastic cutlery. The rising preference for natural and organic products has fueled demand for biodegradable alternatives. Additionally, stringent government regulations aimed at reducing carbon emissions and increasing awareness of the benefits of biodegradable cutlery have contributed to market growth.
The growing consumption of processed and ready-to-eat (RTE) food products, coupled with the rising popularity of online food delivery applications due to busy lifestyles and increased disposable income, has positively influenced the market. Biodegradable cutlery is also finding adoption in cafes, bakeries, quick-service restaurants (QSRs), fast food chains, and restaurants.
The increasing number of ceremonial occasions such as birthdays, weddings, and anniversaries has driven demand for biodegradable cutlery, contributing to market growth. Manufacturers are implementing marketing strategies, including celebrity endorsements and social media campaigns, to boost sales. The growing presence of hypermarkets, supermarkets, convenience stores, and grocery stores, along with the proliferation of online shopping websites offering a wide range of biodegradable cutlery options, has further propelled the market.
The report provides an in-depth analysis of the competitive landscape within the global biodegradable cutlery market. Key players include BioGreenChoice Corp., Bionatic GmbH & Co. KG, Biotrem, Eco Guardian, Eco-Products Inc., Huhtamaki Oyj, NatureHouse Green Products Inc., Vegware, and others.
Key Questions Answered in This Report:
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