The global biodegradable cutlery market size is expected to reach USD 50.7 million by 2025,
according to a new report by Grand View Research, Inc., expanding at a CAGR of
5.9% over the forecast period. Implementation of stringent regulations
pertaining to non-biodegradable plastic across the globe is a primary factor
likely to drive the market over the forecast period.
Most of the countries around the world are
banning plastic usage in any form as it has become one of the prominent global
issues. According to a press release by the European Commission in December
2018, the European Parliament and the Council of the European Union have framed
polices and rules to reduce marine litter through ban on single use plastics.
In addition, in 2015, the European Commission has proposed a Plastic Bags
Directive to regulate and restrict the usage of plastic bags.
According to this directive, the 28 EU
countries must adopt any of the two proposals either to ensure that the usage
of plastic bags cut down from 90 units to 40 units per year per person from
2019 to 2025 or introduce taxes, fines, or bans in order to ban the sales of
single use plastics in all points. From 2019, consumers will always have to pay
for their usage. These regulations will increase the awareness as well as
demand for biodegradable cutleries over the forecast period.
North America is the fastest growing
regional market with a CAGR of 6.2% from 2019 to 2025. Over the past few years,
North America has witnessed reduction in the usage of plastics by major food
chains. For instance, Starbucks Corporation, one of the largest coffeehouse
chains, targets to phase out the consumption of plastic straw by 2020, in
respect of elongated sipping on drinks spout on a lid. These initiatives will
ensure significant growth in the demand for biodegradable cutlery over the
forecast period.
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or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/biodegradable-cutlery-market
https://www.grandviewresearch.com/industry-analysis/biodegradable-cutlery-market
Further key findings from the study suggest:
· By product, the paper segment is projected
to expand at a CAGR of 6.3% from 2019 to 2025. Wood is expected to expand at a
CAGR of 6.2% over the forecast period
· Europe dominated the global biodegradable
cutlery market in 2018 and accounted for 36.3% share of the total revenue
· The industry is competitive in nature owing
to increasing R&D, product innovation, and emergence of new entrants with
the latest technology
· Key players include Huhtamäki Oyj, Biotrem,
BIOPAK, BETTER EARTH LLC, Vegware, Pactiv LLC, Eco Guardian, Genpak, LLC,
Bionatic GmbH & Co. KG, and GreenGood USA.
Grand View Research has segmented the
global biodegradable cutlery market on the basis of raw material and region:
Biodegradable Cutlery Raw Material Outlook
(Revenue, USD Million, 2015 - 2025)
·
Wood
·
Husk
·
Paper
·
Plastic
·
Others
Biodegradable Cutlery Regional Outlook
(Revenue, USD Million, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
