July 21, 2023 10:02 ET | Source: Transparency Market Research Transparency Market Research
Wilmington, Delaware, United States, July 21, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for bagasse plates was estimated to have acquired a market valuation of around US$ 201.4 million in 2022. The market is likely to garner a steady 6.7% CAGR from 2022 to 2031 and by 2031; the market is likely to gain US$ 367.6 million. Sugarcane Food Tray
Bagasse plates are suitable for a range of culinary purposes since they are sturdy in addition, can withstand the weight and wetness of diverse dishes. These plates provide a safer alternative for serving meals since they are devoid of the potentially dangerous chemicals found in some plastic plates. Food placed on bagasse plates is always safe and uncontaminated since they do not release dangerous compounds when they encounter heat or acidic foods.
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Global Bagasse Plates: Key Players
The analysis of the bagasse plate market shows that there are many participants in the industry, which makes it quite competitive globally.
Vegware Ltd., Pappco Greenware, Natural Tableware, Greenvale Eco Products, GreenGood USA, DevEuro Paper Products LLP, AMS Compostable, Shanghai Youngpac Biotech Ltd., GREENWEIMO, and Shenzhen Zhiben Technology Group Co. are just a few of the well-known market participants profiled in the section on company profiles of the bagasse plates market report.
Some developments by the key players in the global market for bagasse plates are:
Adopting bio-based goods, like bagasse plates, is a realistic strategy to reduce adverse environmental consequences. Bagasse plates are made from bagasse, the leftovers of sugarcane. Bagasse plates have an opportunity to minimize carbon emissions caused by the extraction and production of traditional plastics made from petroleum and reduce reliance on fossil fuels.
The requirement for fossil fuels is reduced by the use of bagasse plates. The market for bagasse plates can reduce its reliance on finite and non-renewable fossil resources by transitioning from plastics based on petroleum to alternatives based on renewable resources. Long-term sustainability is promoted by this resource conservation, which makes it easier to preserve natural resources and decreases the environmental harm caused by the exploitation of fossil fuels.
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Key Findings of Market Report
Market Trends for Bagasse Plates
Global Bagasse Plates Regional Market Outlook
Global Bagasse Plates Market Segmentation Plate Size
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Biodegradable Sugarcane Plates Nikhil Sawlani Transparency Market Research Inc. CORPORATE HEADQUARTER DOWNTOWN, 1000 N. West Street, Suite 1200, Wilmington, Delaware 19801 USA Tel: +1-518-618-1030 USA – Canada Toll Free: 866-552-3453 Website: https://www.transparencymarketresearch.com Blog: https://tmrblog.com Email: sales@transparencymarketresearch.com