The global eco-friendly paper plates market is poised for substantial growth, with projections indicating a valuation of US$ 1.17 billion in 2023 and further expansion at a Compound Annual Growth Rate (CAGR) of 4.50% from 2023 to 2033. By 2033, the market is anticipated to reach US$ 1.82 billion, driven by increasing consumer awareness about environmental sustainability and government initiatives aimed at reducing single-use plastic products.
The market is witnessing a surge in sales of eco-friendly paper plates, with the top 5 providers expected to hold 20 to 25% of the global market share in 2023. The plain segment is projected to remain at the forefront, fueled by the growing adoption of plain paper plates by various food service providers worldwide.
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Key Trends Augmenting Demand for Sustainable Paper Plates:
- Increasing Concerns about Plastic Waste: Growing awareness about the detrimental impact of plastic waste on the environment is driving consumers towards eco-friendly alternatives. A survey conducted by DS Smith revealed that six out of ten people are willing to invest in food products with less plastic packaging. This shift in consumer behavior, coupled with heightened awareness on social media platforms, is expected to propel the demand for eco-friendly paper plates in the global food industry.
- Governmental Ban on Plastic Products: Governments worldwide are implementing bans on single-use plastic products to curb plastic pollution. The European Union and several states in the United States and Canada have already enacted legislation to restrict the use of single-use plastics. This regulatory environment, coupled with government initiatives to promote eco-friendly alternatives, is expected to drive the demand for sustainable packaging solutions like eco-friendly paper plates.
Key Takeaways from Eco-friendly Paper Plates Market
- By size, the less than 8 inches segment is projected to account for 49% of the global market share by the end of 2022.
- Based on end use, the commercial segment is projected to register a CAGR of 4.9% during 2022-2032.
- Europe and East Asia are collectively estimated to hold around 45% of the market share by the end of 2032.
- The U.S. eco-friendly paper plates market is projected to create an absolute $ opportunity of US$ 69.1 Mn during 2022-2032.
- The Germany eco-friendly paper plates market is anticipated to grow 1.4 times the current market value during the forecast period.
“Surging demand for convenient and environmentally friendly packaging solutions in the food and food service industries is anticipated to augment sales of eco-friendly paper plates. Also, increasing need for cost-effective and high-quality packaging solutions is anticipated to create new growth opportunities for key manufacturers of eco-friendly paper plates,” says a FMI analyst.
Launch of Unique Compostable Paper Plates to Drive the Global Market
Innovation is crucial as it helps companies to strengthen their positions in the market, thereby creating better opportunities and connections with their customers. There is a high scope of opportunity for innovation in the eco-friendly paper plates market. Rising demand for excellent quality food service products is anticipated to aid growth.
Use of paper plates rather than plastic plates can help overcome various limitations of plastics and expand the eco-friendly paper plates market. Eco-friendly paper plate manufacturing companies are investing in R&D and continuously introducing new products to cater to changing customer demand. Huhtamaki Fresh, for instance, launched an eco-friendly food plate and tray, which are microwaveable and a green solution for consumers. Product enhancement is important for companies since it improves the attractiveness of their products and helps to attract more customers.
Oy Mini-Maid AB also produced paper plates that are recyclable, compostable, and biodegradable in nature. Thus, ongoing innovations in the field of eco-friendly paper plates will attract the attention of more consumers and bolster sales in the global market.
Competitive Landscape: Eco-friendly Paper Plates Market
- Huhtamaki Oyj,
- Graphic Packaging International, LLC,
- Pactiv LLC.,
- Dart Container Corporation,
- Oy Mini-Maid Ab,
- HOSTI GmbH,
- Itterra A.S.,
- Natural Tableware,
- Duni Group Global,
- Gafbros Ltd.,
- Dinearth Eco-Friendly Tableware, and
- Pappco Greenware
are some of the key players operating in the eco-friendly paper plates market. As per FMI, tier 1 players hold about 15-20% of the global eco-friendly paper plates market share.
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Eco-friendly Paper Plates Market Outlook by Category
By Size:
- Less than 8 inches
- 8 inches to 12 inches
- More than 12 inches
By Product Type:
- Partition
- Plain
By Sales Channel:
- Business to Business (B2B)
- Business to Consumer (B2C)
By End Use:
- Commercial
- Institutional
- Household
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
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