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The global eco-friendly paper plates market is expected to witness strong growth during the forecast period between 2021 and 2031.
The last decade has witnessed an increasing need to reduce plastic use in leading economies globally. This has led to increasing need to find suitable alternatives, one of which is eco-friendly paper plates which have been deployed for different purposes worldwide.
The outbreak of the COVID-19 pandemic negatively impacted growth in global eco-friendly plates market. Increasing number of cases worldwide led to governments and authorities imposing strict social distancing regulations and lockdowns in a bid to contain the spread of the virus.
As a result, number of social events worldwide reduced significantly which impacted the demand for eco-friendly paper plates and lowered the growth in overall market.
Rising concerns about generation of plastic waste is the key growth driver of global eco-friendly paper plates market.
Also, increasing number of governments and authorities, suspending the use of plastics could trigger the demand for eco-friendly paper plates and help create revenue-generating opportunities for leading players in global market, in future.
In addition to this, advancements to existing products with the use of new raw materials in the production process could increase product demand and stimulate the growth in overall eco-friendly paper plates market, in the years ahead.
Other factors such as rapid urbanization, especially in developing economies, as well as rising disposable income could also create revenue-generating opportunities for leading players in overall eco-friendly paper plates market, in years to come.
Bio-degradable plates less than eight inches could emerge as largest contributor, in terms of revenue, to overall market because of increasing consumer trend of 'take away' and 'drive through' services in leading economies globally.
Competition landscape in global eco-friendly paper plates market is fragmented with the presence of numerous prominent market players. Many of these players have become successful owing to years of delivering consistent results and are expected to account for a large share in global market, in the coming years.
New product launches could help leading market players in gaining a competitive edge over other players and in creating revenue-generating opportunities, in future.
Research and development activities to produce improved products could be key, revenue-generating growth strategy for prominent players in global market, in the coming years.
Other strategies such as signing of collaborative agreements with smaller players in a bid to expand their presence in global and increasing their revenue shares.
Some leading players in global market include Natural Tableware, Happiness Moon Company Ltd., Oy Mini-Main Ab, Pactiv LLC, HOSTI GmbH, Duni Group Global, and DOPLA SPA.
The global eco-friendly paper plates market is classified into five regions, namely, North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
North America is expected to emerge as the dominant region in global eco-friendly paper plates market in the coming years because of continuous expansion witnessed in the food and beverages industry in countries such as the U.S. and Canada.
Europe is anticipated to witness significant growth in overall eco-friendly paper plates market in future because of suspension in usage of single-use plastic products in countries such as Germany and U.K.
Asia Pacific is expected to witness strong growth in global eco-friendly paper plates market due to rising demand for processed food products in countries such as India and China.
Other regions of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in global eco-friendly paper plates market, in the coming years.
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Eco-friendly Paper Plates Market
