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.
For full research report on Biodegradable
Cutlery Market visit here: 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.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/biodegradable-cutlery-market/request/rs1
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
- U.S.
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- India
- Central & South
America
- Brazil
- 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.
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