The global cassava packaging market is projected to reach a market value of US$ 1.86 billion in 2023 and is expected to grow at a CAGR of 8.2% to reach US$ 4.1 billion by 2033. The market witnessed a growth rate of 6.8% CAGR in the historical period of 2018 to 2022.
One of the key factors driving the adoption of cassava-based packaging is the increasing environmental concern and the demand for compostable alternatives to plastic. Cassava packaging is considered a suitable alternative to plastic and Styrofoam packaging. The thriving food sector is a significant driver for the cassava packaging market as cassava containers are compatible with hot and cold food, and they are microwave-friendly.
Governments worldwide are turning to alternative packaging solutions like biodegradable options such as cassava, in response to the growing burden of packaging waste. The use of starch-based bioplastics as an alternative packaging material, which offers moisture barrier properties and has a lower environmental impact compared to traditional plastics, is another driving factor for the cassava packaging market. Volatility in oil prices also pushes manufacturers to seek consistent sources of raw materials, creating lucrative opportunities for industry expansion.
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The application of starch-based biodegradable packaging in various industries such as cosmetics, food, pharmaceuticals, and commodities is expected to drive market growth. Government investments, subsidies, and regulations promoting the use of biodegradable plastics to reduce the disposal issues associated with conventional plastics are also contributing to market expansion. Concerns over climate change and future resource scarcity further accelerate the search for compostable packaging solutions.
Key Takeaways:
- The global cassava packaging market is expected to grow at a CAGR of 8.2% from 2023 to 2033.
- Increasing environmental concerns and the demand for compostable packaging alternatives drive the adoption of cassava-based packaging.
- Starch-based bioplastics, with their moisture barrier properties and lower environmental impact, contribute to the growth of the cassava packaging market.
- Government investments, subsidies, and regulations promoting the use of biodegradable plastics are driving market expansion.
- Europe is expected to dominate the market, followed by North America, due to increasing consumer awareness and government initiatives toward environmentally safe packaging approaches
Cassava Packaging Market: Regional Outlook
North America is showing tremendous growth as a result of government restrictions on the use of an environmentally safe packaging approach that drives the demand for cassava packaging. As the adoption of eco-friendly products grows, Europe dominates the market for cassava packaging due to a growth in demand for the product.
Thailand and Indonesia are the main cassava producers, so cassava packaging is projected to have the largest market share, with South Asia and East Asia being the third largest producers.
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Cassava Packaging Market: Key Players
The key players of cassava packaging market are
- Avani Eco.
- UBUNTOO.
- GBG Indonesia
- Affinity Supply Co.
- Biogreen Bags
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on cassava packaging market segments and geographies.
Cassava Packaging Market: Segmentation
Globally, the cassava packaging market is segmented by product type, applications and end-use.
By Product Type:
- Cups & Glasses
- Bowls & Trays
- Containers & Clamshell
- With Lid
- Without Lid
- Plates
- Plane plate
- Partitioned plate
- Cutlery
By Applications:
- Food
- Ready to eat Meals
- Processed Food
- Fruits & Vegetables
- Soup
- Others
- Beverages
- Milk Products
- Tea & Coffee
- Cold dinks
- Juices
By End-Use:
- Commercial Use
- Household Use
- Institutional Use
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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