The global sales of bagasse disposable cutlery are estimated to be worth USD 461.9 million in 2021 and are anticipated to reach a value of USD 930.2 million by 2031. Sales are projected to rise at a CAGR of 7.3% over the forecast period between 2021 and 2031. The revenue generated by bagasse disposable cutlery in 2020 was USD 430.0 million.
Demand for the bagasse disposable cutlery will witness steady recovery in the short term, with an optimistic growth outlook in the long run after the pandemic. The market growth is set to gain substantial sales in the forecast period, owing to astonishing features of bagasse disposable cutlery such as biodegradable and availability of different designs.
The shift towards sustainable and environment friendly products and consumers and business move towards alternatives products pugs the market. Bagasse disposable cutlery is made from resources like sugarcane residue which is compostable and biodegradable in nature which is contributing to the market growth.
Global Bagasse Disposable Cutlery Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 430.0 million |
| Estimated Size, 2021 | USD 461.9 million |
| Projected Size, 2031 | USD 930.2 million |
| Value-based CAGR (2021 to 2031) | 7.3% |
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Bagasse Disposable cutlery is a recycled, biodegradable, eco-friendly products that is manufactured using bagasse material. Bagasse is the fibrous material which remains after the juices are removed from the sugarcane stalk.
Bagasse disposable cutlery includes a spoon, fork and knife. Reusable spoons, knives, forks are the most common variants available in the market. In comparison to plastic-based product, Bagasse disposable cutlery cause nominal pollution and produce slight waste.
Increasing awareness of consumers concerning the harmful impact of non-recyclable cutlery usage is one of the key aspects which drives the growth of the bagasse disposable cutlery market.
To capitalize on the growing demand for bagasse disposable cutlery, manufacturers in the cutlery market are expanding their manufacturing facilities, while obtaining local colleagues to gain a competitive edge. Overall, the global outlook for bagasse disposable cutlery market is projected to continue enlightened during the forecast period.
In recent times, the bagasse disposable cutlery market has observed a shift in demand for recyclable disposable cutlery composed of bagasse. Due to constant regulations, numerous food & beverage chains have started serving food in eco-friendly, disposable cutlery which is creating opportunities for bagasse cutlery manufacturers to tap.
To promote green practices some manufacturers have substituted plastic cutlery with bagasse cutlery which leads to the growth of the bagasse disposable cutlery market.
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In an emerging market, due to increasing income, shifting routines, and fast urbanisation there is an expansion in consumer preference for takeaways or ready-to-eat food. The corporate work culture contributing to out-of-home eating habits is strengthening the market for bagasse disposable cutlery for food service.
When peoples have busy work schedules it leads to demand for easy-to-use or bagasse disposable cutlery, which does not require to be cleaned which leads to an important growth factor in the bagasse disposable cutlery market.
As a new social trend, bagasse disposable cutlery is considered as a feasible alternative that provides the suitability of disposable cutlery at parties and on other occasions, along with an additional advantage of nominal harmful effect on the environment.
Furthermore, there is an increase in hygiene standards, which has increased the global bagasse disposable cutlery consumption and is expected to gain new heights during the forecast period.
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Nowadays, cutlery market is gaining more traction among consumers due to the increasing consumption of cutlery in restaurants, hotels and other fast restaurants. The availability of different materials in cutlery such as glass, paper, plastic and others is expected to hinder the growth of bagasse disposable cutlery market.
Global Products:
Asian Players:
The key players adopt various strategies such as product launch, merger & acquisition, innovation and others to survive the competition in the market. Key players are launching new and innovative bagasse disposable cutlery in the market to lure a major portion of the end-users and manufacturers.
In September 2019, Herald Plastic launched the new bagasse range that includes square, round and rectangle plates and cutler in different sizes, bowls and hot boxes.
Germany is expected to witness growth in the forecast period with rapid and continuous growth in the bagasse disposable cutlery market with the rising demand for the food & beverage industry. Also, continuous developments and upgrades in the technology in the food & beverage industry are expected to gain huge demand for the bagasse disposable cutlery market.
Due to the involvement of foreign and small players, restaurants that are operating in the country is highly fragmented in the bagasse disposable cutlery market. Overall growth in the bagasse disposable cutlery market in Germany is increasing opportunities as well as demand.
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Bagasse Disposable Cutlery Market
