Product ID: SQMIG25I2024
Global Biodegradable Cutlery Market Size, Share, Growth Analysis, By Raw Material(Wood, Husk) - Industry Forecast 2024-2031
Report ID:
SQMIG25I2024 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|
Tables:
37 |
Figures:
74
Global Biodegradable Cutlery Market Insights
Global Biodegradable Cutlery Market size was valued at USD 39.2 Million in 2022 and is expected to grow from USD 41.94 Million in 2023 to reach USD 72.07 Million by 2031, at a CAGR of 7% during the forecast period (2024-2031).
The rise in public awareness of the hazardous repercussions of non-biodegradable plastic trash is expected to be a prominent market driver throughout the projected period. Furthermore, numerous countries intend to make non-biodegradable plastic illegal by strict laws and policies. As a result of these progressive government policies and increased consumer awareness of the detrimental effects of non-biodegradable plastic, the market for biodegradable tableware is expected to grow.
Compostable cutlery and tableware are the best alternatives to non-biodegradable plastics and are a developing green business. The growing awareness of the negative impacts of non-biodegradable plastic on aquatic species has serious ramifications. This is one of the primary drivers promoting market expansion. According to United Nations estimates, more than 8 million tons of plastic are dumped into the ocean each year. According to another global assessment, there may already be more than 5.25 trillion micro and microplastic fragments in the water. These negative consequences encourage the use of biodegradable materials.
The increased need for environmentally friendly, secure, and sustainable tableware as a result of the development in cafés, fast food outlets, and restaurants is driving the market for biodegradable cups and plates. Environmentally friendly cutlery is a practical option that gives the convenience of disposable plates, cups, and spoons for picnics, weddings, and other events without negatively impacting the environment.
The cost of biodegradable plates, cups, spoons, and forks is more than that of regular disposable flatware. This is the biggest constraint to market growth. Furthermore, despite various environmental benefits, some biodegradable polymers release greenhouse gasses during the disintegration process. This could have an effect on the ecosystem. These factors are important hurdles to the market spread of biodegradable plastics.
US Biodegradable Cutlery Market is poised to grow at sustainable CAGR for the next forecast year.
Global Biodegradable Cutlery Market Report Snapshots
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