Compostable Tableware Market- An Overview
Compostable tableware is biodegradable and environment friendly range of tableware that includes plates, cups, bowls and trays that would be decomposed easily after usage. This helps in reducing waste and carbon footprint on the environment. Compostable tableware is often made from organic materials like paper pulp, bamboo, sugarcane bagasse, corn starch, rice husk and other agricultural residues which decomposes easily and leaves no trace on the environment. It is a substitute to regular plastic and metal tableware and could be degraded easily. The growing awareness about hazards of plastic wastes on stray and aquatic animals is constantly driving the tableware market towards more sustainable and compostable solutions in cutlery. Government regulations are also playing a major role in shaping the tableware market.
Compostable Tableware Market- Dynamics
Rising awareness about green packaging and use of biodegradable material is influencing the demand for compostable tableware market. Demand for non-toxic and microwave safe crockery by customers is giving rise to compostable tableware. Negative effects of plastics have also pushed compostable tableware in the market. Compostable tableware market could be classified into online and offline mode of distribution channel. Offline mode often consists of supermarkets, retail stores and other departmental stores.
Commercial tableware segment in applications of compostable tableware market is expected to grow with a high ratio due to expanding food and beverage segment.
Rise in hotel chains, restaurants and fast food joints have boosted demand for compostable tableware market. With escalating investments and innovations in compostable tableware, new products are constantly unveiling in the market. Due to outbreak of COVID-19, most of the food joints have started adopting online mode for food delivery and are looking for more effective and safe food cutlery to deliver to its customers. Also, with the growth of online food delivery companies like Zomato and Swiggy, demand for compostable tableware has increased in the market. Customers are demanding for eco-friendly, biodegradable and toxin-free cutlery which they can recycle or dispose without any hassle.
However, low availability of compostable tableware might act as a hindrance for compostable tableware market. High prices for compostable tableware is also a factor which might affect compostable tableware market negatively.
Compostable Tableware Market- Segmentation
Compostable tableware market is classified on the basis of type of raw material, application and distribution channel.
On the basis of the type of raw material, compostable tableware market is segmented into:
- Paper pulp
- Eco-friendly plastic
On the basis of the application, compostable tableware market is segmented into:
On the basis of the distribution channel, compostable tableware market is segmented into:
Compostable Tableware Market- Regional Overview
Compostable tableware market has been analyzed based on sales growth and value across different Regions that include Asia Pacific, Latin, and North America, Oceania, Europe, and the Middle East and Africa. Market in the region of North America and Europe is already matured so the growth of compostable tableware is slow with more number of competitors in the market. However, these regions still contribute to maximum growth of compostable tableware because of high disposable income of its inhabitants. In Asia Pacific, the increase in the online food delivery fuels the market compostable tableware with the potential growth rate during the forecast period. Further Middle East & Africa and Latin America are expected to witness a steady growth in compostable tableware market.
Compostable Tableware Market- Key Players
Compostable Tableware Market is a diverse market with existence of many small and large players. Some of the key players are mentioned below:
- Lollicup USA
- Huhtamaki Group
- Dart Container Corporation
- Al Bayader International
- Xiamen Greenday Import & Export Co., Ltd.
- Reynolds Consumer Products
- Yash Pakka Limited
- Cosmos Eco Friends
- CHUK (Yash Papers Limited)
- DOpla SpA
- Natural Tableware
- Pactiv LLC
- PAPSTAR GmbH
- Eco-Products, Inc
- Al Bayader International
- Xiamen Greenday Import & Export Co., Ltd.
- Pappco Greenware
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 cement packaging market segments and geographies.
Regional Analysis Includes-
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa (MEA)
- A detailed overview of parent market
- Changing compostable tableware market dynamics in the food packaging industry
- In-depth market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments in the compostable tableware market
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for players to sustain and enhance their market footprint
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
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
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:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.