The bagasse tableware products market revenue is expected to register y-o-y growth of 4.3% and reach US$ 1.95 Bn in 2021. This demand for bagasse tableware products will accelerate with top-tier players holding 25% to 30% of the total sales of bagasse tableware products.Future Market Insights (FMI) has forecast the global bagasse tableware products market to total US$ 3.75 Bn by 2031, expanding at 6.8% CAGR between 2021 and 2031.
Plastic and Styrofoam are the cheapest and most readily available packaging materials, but they are not nature-friendly. Bagasse is one of the most eco-friendly options used in making various food packaging and serving products.
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Key Takeaways from Bagasse Tableware Products Market
- By product type, the plates segment is expected to hold market share of around 42% by 2031.
- Based on application, demand in the food segment will account for 89% of sales in the market by 2031.
- By sales channel, the direct sales segment is projected account for over 66% market share by 2031.
- Bagasse tableware products are used widely for commercial, institutional, and household sectors. The commercial use segment is expected to create an incremental opportunity of US$ 1.7 Bn during the forecast period.
- The East Asia region is expected to be highly lucrative, while South Asia is projected to outpace other regions exhibiting ~8% CAGR during the forecast period. n
“Customized eye-catchy eco-friendly bagasse tableware products made from sugarcane residual are becoming increasingly popular for use in institution, commercial, and household sectors. Besides this, growth in quick-service restaurants, mobile food vendors, online food ordering business, and catering services will create attractive prospects for the growth of the market,” says FMI analyst.
Continued Efforts of Manufacturers to Improve the Physical Attributes for Branding to Spur Demand for Bagasse Tableware Products
Bagasse tableware products are in the spotlight due to the rising trend of sustainable living practices. Eco-friendly bagasse tableware products are increasingly replacing products made out of non-biodegradable plastics.
Companies are focusing on introducing innovative and eye-catching designs with new textures and graphics (on-pack promotions) to influence customers to purchase natural, eco-friendly products. Bagasse tableware products are gaining momentum in green-minded cafeterias, the foodservice sector, quick delivery restaurants, and catering services.
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Offering personalized and specialized products according to the customer’s needs is a critical trend in the market. The manufacturers are thus focusing on customizing the product designs as per the consumers’ requirements.
The use of unique customized designs as a billboard space to showcase the logo, messages, and company taglines will enhance the market status of bagasse tableware product manufacturers who offer these services. Using environmentally friendly and sustainable products to improve and enhance the brand image is also a key aim for end users.
The manufacturers strive to improve the product quality by using cutting-edge technology to extend the shelf life and retain the quality and freshness of products for a longer time. They also target innovative product packaging, aesthetic appearance, and overall presentation to attract the customer’s attention. Therefore, to address the growing aspirations of target customers, the manufacturers are offering customized, distinctive, brand identity-based products, which will boost the bagasse tableware products market.
Bagasse Tableware Products Market Landscape
Pactiv Evergreen Inc., Dart Container Corporation, Duni AB, Genpak, LLC, Detpak (Detmold Group), Karat by Lollicup, Vegware US, Eco Products, Inc., Greenweimo, among others are the prominent players in the global bagasse tableware products market. The Tier 1 players in the market hold 25-30% in the global bagasse tableware products market.
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Bagasse Tableware Products Market by Category
By material type:
- Plates
- Less than 8 inches
- 8 inches to 12 inches
- More than 12 inches
- Bowls & Containers
- Less than 12 Oz
- 12 Oz to 16 Oz
- More than 16 Oz
- Cups & Glasses
- Less than 6 Oz
- 6 Oz to 12 Oz
- More than 12 Oz
- Trays & Clamshell
- Cutlery (Spoons, etc.)
By application:
- Food
- Fruits & Vegetables
- Processed Food
- Ready-to-eat meals
- Soups
- Others
- Beverages
- Carbonated Beverages
- Non-carbonated Beverages
- Tea & Coffee
- Milk Products
- Juices
By sales channel:
- Indirect Sales
- Departmental & Discount Stores
- Hypermarket/Supermarket
- Specialty Stores
- Online Sales
- Direct Sales
Related Links –
https://www.articlesfactory.com/my/articles/482cf8ad-dd4a-4b5b-9559-6008c681675b/options
https://degentevakana.com/blogs/view/144564
https://theavtar.com/read-blog/18717
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