Bizizz Market Research has recently published a research report, “Biodegradable Cups Market By Product (Single Wall and Double Wall), Material (Paper, Polylactic Acid (PLA) and Polybutylene Succinate (PBS)), End-users (Food Service Outlets, Quick service restaurants, Hotels, Cafes, Institutional, Educational and Public Institutes, Private Institutes, Malls and Multiplexes and Household) Capacity (Up to 7 Oz, 8 to 14 Oz, 15 to 20 Oz and above 20 Oz) Application (Spreads, Sauces and Dressings, Confectionaries, Beverages, Hot, Cold and Ice Cream), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Biodegradable Cups Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 34.1 Bn by 2027, witnessing a CAGR of 5 % during the forecast period. Key drivers of the market are stringent regulations of the government in context of environmental friendly nature along with the increased demand by the various organizations is propelling its market demand.
Growing demand for sustainable solutions across the globe has led to the development of eco-friendly solutions. The ban on the use of plastic bags is expected to boost the growth of biodegradable cups market. Also, new innovations in this space are also contributing to the growth of the market. For instance, manufacturers prefer plastic barriers against moisture, heat. However, owing to ban on plastics in various countries, manufacturers are introducing water-based compostable coatings in biodegradable cups.
Another factor that is contributing to the growth of this market is the sustainable growth of packaging market in last couple of years. Market players are focusing on various strategies to introduce packaging materials that are biodegradable. Consumers also prefer biodegradable packaging formats over conventional plastic packaging products. New biodegradable packaging material is expected to be more environmental friendly
The Biodegradable Cups market is anticipated to register a CAGR of over 5% during the forecast period.
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By Application, beverages segment held a prominent share in Global Biodegradable Cups Market in 2018.
The contribution of biodegradable cups in the beverage segment is accounted for a higher demand with a growth of biodegradable cups market in 2018 and is expected to remain dominant during the forecast period. Beverage manufacturing organizations implementing different strategies supports in launching of the products that are eco-friendly in nature. These products are also being introduced along with high innovative designs in meeting the consumer’s requirements. Therefore, high growth of beverage industry is anticipated to fuel the market growth of biodegradable cups. For example, World Centric introduced biodegradable product portfolio known as NoTree constituting of cups and bowls which were highly compostable. Soon after this, they had also introduced eco-friendly packaging material’s product line in order to meet the market demand.
European market is Anticipated to Dominate the Global Biodegradable Cups Market during the Forecast Period
The European market is highly favorable with lucrative opportunities in the market in context to new manufacturers. Moreover, emerging and established market players are tackling the restrictions in existing recycling infrastructure. The growth was highest in Europe followed by North America, by a rise in demand of biodegradable packaging materials. However, producers are trying to initiate the subscription system for different outlets like food and coffee shops. Organizations are also taking initiatives to raise awareness about the benefits associated with the biodegradable cups.
Global Biodegradable Cups market was moderately consolidated with key players accounting for significant share in 2018. Organizations are significantly being offering innovative products that are of high performance and biodegradable in nature contributing to the increased demand and adoption rate.
Prominent players operating in the Global Biodegradable Cups Market are: Gatewing, Sensefly, DeltaBiodegradable Cups, Titan aerospace, Infotron, Ascending Technologies, Aerial MBO, RedBird, Flying Eye, InterBiodegradable Cups, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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