The global cassava bags market is estimated to secure a CAGR of 7.6% during the forecast period. The market is anticipated to capture a valuation of US$ 66.93 million in 2023 and reach US$ 139.23 million by 2033.
Manufacturers Bring Sustainability by Developing Cassava Bags
Cassava bags are a potentially sustainable alternative compared to traditional plastic bags. Manufacturers bring an idea behind cassava bags to limit environmental pollution. These bags contribute to reducing pollution and harm to the ecosystem.
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Here are some aspects that manufacturers bring to promote sustainability by developing cassava bags:
- Raw Material Sourcing: Cassava bags are made up of cassava starch, which promotes renewable and biodegradable resources. Due to its eco-friendly nature, consumers prefer to increase the adoption of cassava bags. Cassava is a plant in tropical regions widely used for bag production due to its excellent quality raw material.
- Biodegradability:Cassava bags are biodegradable and easy to decompose without spreading hazardous and toxic to the environment. Compared to traditional bags, cassava bags can break naturally without reducing marine and land ecosystems.
- Reduced Carbon Footprint:Cassava bags have a lower carbon footprint than traditional plastic bags. They are locally sourced and reduce transportation emissions to promote sustainability.
- Water Efficiency: Cassava requires less water than other crops used in bag production.
- Non-toxic Production Process:The production of cassava bags is less toxic to the environment than conventional plastics production.
- Supporting Local Economies: Farmers are growing cassava to generate their economy through its raw materials. These farmers and local communities live by cultivating cassava, which brings lucrative opportunities.
- Advocacy for Regulatory Change: Manufacturers developing cassava bags to promote sustainability by advocating policies and regulations. It helps them to create favorable market growth.
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Key Takeaways:
- The global cassava bags market is estimated to secure a valuation of US$ 139.29 million with a CAGR of 7.6% by 2033.
- Thailand is estimated to dominate the global market by securing a maximum share during the forecast period.
- Based on category, the organic segment is estimated to lead the global market by 2033.
Key Players Achieving Their Goals in the Global Market
Key players play a crucial role in the global market by investing huge amounts in research and development activities. These players drive the global market by adopting various marketing tactics such as mergers, acquisitions, collaborations, and agreements. The key is uplifting the market by offering consumers unique, cost-effective, improved, and advanced products.
They are implementing new ideas to upsurge the market size to another level to achieve their goals. These players are trying to collect maximum revenue through marketing strategies, branding, and international promotion.
Recent Developments in the Global Market are:
In 2021, DRDO announced its collaboration with Ecolastic Private Limited and Acharya Nagarjuna University. This collaboration took place for developing plant-based biodegradable bags for food materials.
Cassava Bags Market by Segmentation
By Type:
- Grip-Hole
- T-Shirt
- Garbage
By Category:
- Organic
- Conventional
By End User:
- Food & Beverages
- Animal Feed
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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