Biodegradable lids are eco-friendly alternatives to traditional plastic lids, designed to decompose naturally and minimize environmental impact. These lids are often made from materials derived from renewable resources, such as plant-based plastics or compostable materials.
The global biodegradable lids market is poised to reach a valuation of approximately US$ 241.6 million by the year 2022, with expectations of continued growth at a compound annual growth rate (CAGR) of 5.6% throughout the forecast period spanning from 2022 to 2032. Projections indicate that the market is set to achieve a substantial valuation of US$ 416.6 million by the conclusion of 2032. The surge in sales of paper lids is anticipated to contribute significantly, with the top three countries expected to collectively capture around 25-30% of the market share by the close of 2022.
The dynamic shifts in the food service industry have led to an increased demand for biodegradable packaging solutions, thereby fuelling the expansion of the global biodegradable lids market. Consequently, it is envisaged that the market will grow nearly twice its current value during the forecast period.
Get an Exclusive Free Sample Copy of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-15769
Key aspects related to biodegradable lids:
- Material Composition:
- Biodegradable lids are typically made from materials like PLA (polylactic acid), which is derived from cornstarch or sugarcane. Other compostable materials, such as bagasse (sugarcane fiber) or CPLA (crystallized polylactic acid), may also be used.
- Environmental Benefits:
- The primary advantage of biodegradable lids is their reduced environmental impact. They break down naturally, often in composting conditions, contributing to the reduction of plastic waste in landfills and oceans.
- Composting Capability:
- Biodegradable lids are designed to be compostable, meaning they can be broken down into organic matter through the composting process. This reduces the burden on landfills and supports sustainable waste management practices.
- Renewable Resources:
- Many biodegradable lids are made from renewable resources, such as plants, that can be replenished through agricultural practices. This contrasts with traditional plastic lids derived from non-renewable fossil fuels.
Market Trends:
- Consumer Awareness and Demand: Increasing awareness among consumers about environmental issues has led to a growing demand for sustainable and biodegradable packaging options, including lids.
- Regulatory Initiatives: Government regulations and initiatives aimed at reducing single-use plastics have driven businesses to explore and adopt biodegradable alternatives, influencing the market.
- Innovations in Material Technology: Ongoing developments in material science have resulted in improved biodegradable materials with enhanced durability and performance, contributing to the market’s growth.
Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-15769
Key Players
- Zume Inc.
- Liplid AB
- Pactiv LLC
- Be Green Packaging
- Packnwood
- Renewables LLC
- Meshline Manufacturing Inc.
- Xiamen Glaman Environmental Technology Co., Ltd
- MTPak coffee
- Scandicore AB
- Green Olive Environmental Technology (dongguan) Co. Ltd.
- Transcend Packaging Ltd.
- WorldCentric
Biodegradable Lids Market Outlook by Category
By Material:
- Paper
- Plastic
- Others (Bagasse, Seawood, etc.)
By Diameter:
- Less than 60 mm
- 60-80 mm
- Above 80 mm
By End User:
- Foodservice Outlets
- Online Food Delivery
- Institutional
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa (MEA)
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube