The global sales of bagasse bowls are estimated to be worth USD 1.3 billion in 2021 and are anticipated to reach a value of USD 2.4 billion by 2031. Sales are projected to rise at a CAGR of 6.4% over the forecast period between 2021 and 2031. The revenue generated by bagasse bowls in 2020 was USD 1.2 billion.
Bagasse bowls sales anticipated to spur in forecast period due to significantly rising environmental awareness and shift to adopting sustainable packaging products. The rising awareness about the adverse effects of using plastic bowls has increased the adoption of biodegradable and compostable bagasse bowls.
Implementing regulations by government and higher authorities against single use plastic is contributing to the growth of bagasse bowls. As consumers are strongly shifting to the use of renewable resources, the appeal for bagasse bowls is enhancing for eco-conscious consumers.
Global Bagasse Bowls Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 1.2 billion |
| Estimated Size, 2021 | USD 1.3 billion |
| Projected Size, 2031 | USD 2.4 billion |
| Value-based CAGR (2021 to 2031) | 6.4% |
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Bagasse bowls are manufactured using the bagasse that is commonly known as sugarcane waste. The bagasse bowls market is witnessing healthy growth in recent years, due to the change in the predicament of people over the negative effect of plastic on the environment.
As the raw material used for manufacturing is plant waste, it creates a low carbon footprint in comparison to its plastic counterpart. In addition to all this, bagasse bowls are eco-friendly in nature and completely biodegradable.
Environment conservation authorities and governments are raising restrictions towards plastic being used as disposable tableware, which in turn will increase tremendous opportunities for prominent players in the market. These factors will augment the demand for bagasse bowls in the forecasted period.
Key changes in environment conservation policies, increasing restrictions on plastic usage, general public becoming aware of their surroundings is causing a drastic shift which is increasing the usage of bagasse bowls in everyday life.
Foodservice providers are changing the trend via shifting towards biodegradable tableware such as wooden cutlery, paper plates and bagasse bowls. Increasing regulations banning plastic usage in food outlets has caused an upshift of change. Manufacturers will see a huge boom in demand for bagasse bowls during the forecast period.
Principal Consultant
An increase in food takeout and home delivery systems due to the rise of the millennial population and long working hours has resulted in a spike in the usage of biodegradable bagasse bowls. The big change caused due to cultural shift and outdoor eating has increased the usage of eco-friendly tableware which is easy to dispose of.
This change of eating habits not only of the younger generation but across different age groups will exponentially impact the bagasse bowls market in a positive manner.
The demand for eco-friendly and biodegradable solutions for tableware has constructed an optimum path for the bagasse bowls market. The increase in take-out and home delivery facilities in the food & beverage sector are expected to simultaneously impact a positive trend for bagasse bowls in the coming years.
This change is affected due to almost negligible carbon footprint generation from bagasse bowls and their biodegradable nature which in turn will raise the usage of bagasse bowls and this will drive the market growth.
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Cheap pricing of plastic ware will always pose a challenge to the bagasse bowls market and the less availability of the product in the market will cause a hindrance in market growth.
However, giving provisions like tax reductions from the government to manufactures will, in turn, raise the production of bagasse bowls and decrease the cost price of a product, which in turn increases profitability for the players in bagasse bowls.
Global Players:
APAC Players:
The key competitors implement various strategies such as product launch, merger & acquisition, expansion, innovation and others to survive and compete in the market:
In September 2019, Herald plastic a well-known tableware manufacturer launched an extensive range of bagasse products which consisted of bagasse cutlery, plates and bowls.
India will hold a major proportion of the bagasse bowls market by the end of the forecast period due to an increasing focus on using biodegradable materials such as bagasse products for the foodservice sector because of its durable, hygienic, safe and eco-friendly nature.
Other factors that will increase the country’s share in the global market will be its new rules and regulations on plastic usage which are focus on reducing non-recyclable plastic packaging. All these factors considered India will have a significant hold in the Bagasse Bowls market in future.
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Bagasse Bowls Market
