Bizizz Market Research has recently published a research report, “Global One-Off Chopsticks Market By Product Type (Bamboo, Aspen and Others), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global One-Off Chopsticks Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 20.1 Bn by 2027, witnessing a CAGR of 10.0 % during the forecast period. Key drivers of the market are increased demand for one-off chopsticks due to its increased recyclability and rising adoption of variety of food mainly in emerging economies.
The one-off chopsticks have accounted for a high demand globally. These products are recognized as a basic element in eating food. However, the recyclable of these products contributes to high demand from various regions. Considering a pair of chopsticks is a trending style of eating in the Asia countries by its traditional values. The application of chopsticks is found to depict various meaning related to person’s luck, treasure, and position such trends are also supporting the demand of one-0off chopsticks. Also, it projects artistic and aesthetic sensibilities of end-users. These factors are projected to contribute to the growth of global market during the forecast period.
The Global One-Off Chopsticks market is anticipated to register a CAGR of over 10.0% during the forecast period.
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By materials, Bamboo Chopsticks segment held a key share in Global Global One-Off Chopsticks Market in 2018.
Bamboo is the most generally used material in the manufacturing of chopsticks. Rather than bamboo, various materials are birch, aspen, and several other materials. Most of the chopsticks are manufactured from various materials and are coated with lacquer, oil, and paint. Various other woods applied in the manufacturing of chopsticks include paulownia, pine, sandalwood, cedar, and Cherry. Therefore, the others materials are anticipated to show noteworthy growth during the forecast period because of its water-resistance and stiff qualities.
Asia pacific region is Anticipated to Dominate the Global One-Off Chopsticks Market during the Forecast Period.
The Asia Pacific region is projected to be the dominant in one-off chopsticks market during the forecast period. The region is anticipated for having more than half of the market share in 2018. Its growth could be attributed to its high consumer base and is contributed by various government initiatives to promote the adoption of these reusable chopsticks. Moreover, the government in China is promoting several campaigns to increase awareness regarding chopsticks intended to safeguard their national forests reserves.
Global One-Off Chopsticks market was moderately consolidated with key players accounting for significant share in 2018. Competitors are expanding their market presence by collaborations and foreign direct investments.
Prominent players operating in the Global Global One-Off Chopsticks Market are: Gatewing, Sensefly, DeltaGlobal One-Off Chopsticks, Titan aerospace, Infotron, Ascending Technologies, Aerial MBO, RedBird, Flying Eye, InterGlobal One-Off Chopsticks, 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
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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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