The bagasse tableware product sales in Korea are projected to experience a CAGR of 6.30% through 2033. The industry in Korea is on the brink of substantial opportunities, with a valuation of USD 17.7 million in 2023.
Advancements in manufacturing technologies and processes is expected to lead to cost reductions in producing bagasse tableware, making it a more competitive option for businesses.
The disposability of bagasse tableware aligns with the growing consumer preference for convenient dining solutions, especially for on-the-go and takeout meals. The adoption of bagasse tableware products in Korea is likely to secure USD 32.7 million by 2033.
Key Insights - Highlights to Understand Emerging and Fast Growing Opportunities
| Attributes | Details |
|---|---|
| Industry Size in 2023 | USD 17.7 million |
| Expected Industry Size by 2033 | USD 32.7 million |
| Forecasted CAGR from 2023 to 2033 | 6.30% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
By product type, the plates segment is expected to account for a share of 35.50% in 2023. Plates are versatile and widely used for various types of meals, making them a preferred choice for consumers in Korea.
They are suitable for both regular dining and special occasions. Korea has seen a surge in dining out, whether at restaurants, cafes, or food stalls. The demand for disposable yet aesthetically appealing plates for these dining experiences is growing.
| Bagasse Tableware Product in Korea based on Product Type | Plates |
|---|---|
| Industry Share in 2033 | 35.50% |
There is a higher demand for disposable plates to serve these meals conveniently, with the increasing popularity of takeout and food delivery services. Bagasse plates offer a sustainable alternative in this context.
Plates are essential for communal dining during cultural events, festivals, and celebrations. Korea has a rich cultural heritage with various such occasions, creating a consistent demand for plates.
Based on end use, the commercial segment is expected to account for a share of 64.30% in 2023. Schools and universities often fall under the commercial segment. The institutions require large quantities of tableware for their cafeterias and events, creating a substantial demand for bagasse tableware.
| Bagasse Tableware Product in Korea based on End Use | Commercial |
|---|---|
| Industry Share in 2033 | 64.30% |
A surge in the number of food outlets, including quick service restaurants, fine dining establishments, and cafes, has created a substantial industry for bagasse tableware. Stringent health and hygiene standards in commercial food service require clean and safe dining solutions. Bagasse tableware provides a hygienic alternative to traditional options.
The growth of takeout and food delivery services, both through dedicated platforms and in-house services, has led to an upswing in the requirement for disposable tableware by commercial establishments, and bagasse tableware meets this demand.
Principal Consultant
South Gyeongsang is known for its strong agricultural sector. Sugarcane cultivation, one of the primary sources of bagasse, can be a localized source of raw materials for bagasse products, potentially reducing production costs.
An emphasis on seafood and local cuisine, including seafood festivals and events, is expected to drive the use of bagasse tableware in the region, especially in restaurants and food service establishments catering to tourists and locals.
South Gyeongsang has several tourist attractions, such as historic sites, cultural festivals, and natural beauty. The hospitality and food service sector may benefit from the use of bagasse tableware to align with tourism practices.
Given the importance of rice in Korean cuisine and the presence of rice-related festivals, there is a potential demand for bagasse tableware during these events. Bagasse products can align with the cultural emphasis on rice.
North Jeolla is home to several educational institutions, including universities and schools. These institutions represent a significant industry for bagasse tableware, especially in their cafeterias and events.
The presence of local manufacturing facilities for bagasse tableware can lead to reduced transportation costs and potentially more competitive pricing for businesses in the region.
The bagasse tableware industry in the region can be positioned as a choice that aligns with local cultural and traditional practices, making it more appealing to residents and visitors. It has the potential to cater to the demand for disposable dining solutions during special events, festivals, and weddings, enhancing its presence in the industry.
The diverse cuisine in Jeju, including seafood and locally sourced ingredients, is likely to drive the demand for bagasse tableware through 2033, especially in restaurants serving regional dishes.
The bagasse tableware product industry in Korea is highly competitive and evolving rapidly due to increasing environmental consciousness and regulatory support. Leading players, as well as local manufacturers, are driving innovation and diversification of products to cater to a range of consumer and commercial needs.
Recent Developments Observed in Bagasse Tableware Product Industry in Korea
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 17.7 million |
| Projected Industry Size by 2033 | USD 32.7 million |
| Anticipated CAGR from 2023 to 2033 | 6.30% CAGR |
| Historical Analysis of Demand for Bagasse Tableware Product in Korea | 2018 to 2022 |
| Demand Forecast for Bagasse Tableware Product in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Bagasse Tableware Product adoption in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Manufacturers in Korea |
| Key Provinces Analyzed while Studying Opportunities in Bagasse Tableware Product in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | Ecoplast; Dongwha Entech; Pulmuone; CJ CheilJedang; Lotte Food; BioGreen; Hanwha Solutions; SK Chemicals; Hyundai Department Store; Lotte Department Store |
The bagasse tableware product industry in Korea is valued at USD 17.7 million in 2023.
The anticipated CAGR for bagasse tableware product industry in Korea through 2033 is 6.30%.
Demand for bagasse tableware product in Korea is expected to reach USD 32.7 million by 2033.
Bagasse plates are commonly preferred in the Korea’s bagasse tableware industry.
The commercial segment to remain a key contributor in the bagasse tableware product ecosystem in Korea.
1. Executive Summary 2. Market Overview 3. Market Background 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Plates 5.2. Bowls & Containers 5.3. Cups 5.4. Trays 5.5. Clamshell 5.6. End Caps 5.7. Drink Carriers 5.8. Straw 5.9. Cutlery 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Lamination 6.1. Laminated 6.2. Non-Laminated 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Manufacturers 7.2. Retail 7.3. Distributors 7.4. Online 8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application 8.1. Food 8.2. Beverages 9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use 9.1. Commercial 9.2. Institutional 9.3. Household Use 10. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. South Gyeongsang 10.2. North Jeolla 10.3. South Jeolla 10.4. Jeju 10.5. Rest of Korea 11. South Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 12. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 13. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 14. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 15. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 16. Market Structure Analysis 17. Competition Analysis 17.1. Vegware Ltd. 17.2. Green Good Pack Inc. 17.3. Pactiv Evergreen Inc. 17.4. Dart Container Corporation 17.5. Genpak, LLC 17.6. Material Motion, Inc 17.7. Natural Tableware 17.8. Eco-Products, Inc. 17.9. Karat by Lollicup 17.10. Dinearth 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Packaging Insights
View Reports
Demand and Trend Analysis of Bagasse Tableware Product in Korea
