Bioplastic Tableware Market: An Overview
Increasing concerns regarding the environment and hazards associated with non-bio plastic have led to the demand for green packaging formats. Bioplastic tableware meets societal and environmental needs. The climate change problem and the future shortage of fossil resources have accelerated the demand for bioplastics in packaging. Bioplastic tableware market is expected to grow due to the growth of the food & beverage industry. Emphasis on the use of non-toxic and petroleum-free resources is expected to drive the demand for bioplastic tableware market.
Bioplastic Tableware Market: Dynamics
Government initiative and aid to promote the use of bioplastics is anticipated to boost the demand for bioplastic tableware market. In addition, the ease of use and convenience of bioplastic tableware might augment the growth of bioplastic tableware. Consumer awareness regarding the adverse effects of plastics such as on marine life and landfills is leading to inclination towards the preference of bio-based raw material tableware. For instance, according to the Eurobarometer survey, European Commission, about 80% of European customers want to buy the product which has the least impact on the environment. This is expected to boost the market demand for bioplastic tableware. Furthermore, bioplastics are made from plant starch from crops such as corn, rice and hemp. Plant raw materials are renewable, sustainable and infinite resource unlike conventional raw materials such as petroleum. This reduces the carbon footprint on the environment. Brand owners and service providers are inclined towards associating their businesses with sustainability. Bioplastic tableware can be composted and used again which enhances the recyclability.
Tensile strength, availability and affordability are key features which are anticipated to boost the market demand for bioplastic tableware. Furthermore, manufacturing of bioplastic tableware does not need additional machinery. Use of bioplastics tableware in the commercial segment such as trays or bowls to pack food products is likely to augment the demand for bioplastic tableware.
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Bioplastic Tableware Market: Segmentation
Bioplastic Tableware Market can be segmented on the basis of material, product type, distribution channel and end-use.
By Material, Bioplastic Tableware Market can be segmented as
- Starch-based bioplastics
- Polylactic acid
- Polybutylene Adipate Terephthalate
- Polybutylene Succinate
- Cellulose-based bioplastics
- Protein-based bioplastics
- Starch-based bioplastics
By Product Type, Bioplastic Tableware Market can be segmented as
By Distribution Channel, Bioplastic Tableware Market can be segmented as
- Online Channels
- Offline Channels
- Retail Stores
By End-use, Bioplastic Tableware Market can be segmented as
- Schools / Colleges
Bioplastic Tableware Market: Regional Outlook
The Asia Pacific is likely to dominate the global demand for bioplastic tableware market owing to its high consumption and large population. China is one of the largest manufacturers of bioplastics which is likely to fuel the growth of bioplastic tableware. Furthermore, increasing awareness and concerns regarding the environment are expected to rise the market demand for bioplastic tableware. Europe and North America are likely to witness the growth in the bioplastic tableware market due to the population’s awareness regarding plastic hazards. In addition, government regulations such as the ban on single-use plastics are likely to fuel the market demand for greener alternatives.
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Bioplastic Tableware Market: Impact of COVID 19
COVID 19 has led to disruptions in the supply chain globally. China is one of the largest manufacturers of bioplastic and is highly impacted by the outbreak. This has led to raw material shortage and reduction in manufacturing activities. The bioplastic tableware market is likely to face challenges due to the change in customer sentiments. Preference for home-cooked meals and grocery has increased compared to going out and full-service restaurants are heavily affected by the COVID 19 outbreak. However, online deliveries might have a demand for bioplastic tableware. In addition, bioplastic tableware is anticipated to have demand due to their hygienic and disposable features which limit the risk of contamination. The growth of bioplastic tableware market is expected to be restrained in the year 2020 due to the COVID 19 outbreak.
Bioplastic Tableware Market: Key Players
Key players in the Bioplastic Tableware Market are as follows,
- World Centric
- Be Green packaging
- Korea Bio Foam
- Microtec Company
- Green Dot Bioplastics
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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