Bagasse Tableware Market To Hit US$ 356.7 Million By 2030: Sustainable Alternatives Gain Momentum – Says Market Report By Rationalstat

(MENAFN- GlobeNewsWire - Nasdaq) The global bagasse tableware market is expected to reach US$ 356.7 million by 2030, with an annual growth rate of more than 6.5%. The market is driven by the increasing demand for sustainable alternatives to traditional plastic tableware, the growing awareness of the environmental impact of plastic waste, and the rising demand for eco-friendly products among consumers.

Wilmington, Delaware, Nov. 23, 2023 (GLOBE NEWSWIRE) -- According to RationalStat 's most recent industry analysis, the Global Bagasse Tableware Market value is estimated at US$ 226.7 million in 2023 and is expected to rise at a strong CAGR of over 6.5% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

Bagasse dinnerware is disposable tableware produced from bagasse, a fibrous waste left over when sugarcane or sorghum stalks are crushed to obtain juice. Bagasse is a renewable resource, and using it to make dinnerware is a more environmentally responsible alternative to standard throwaway items made of materials such as plastic or Styrofoam.

As customers become more aware of their environmental impact, there is a growing desire for items that are both useful and environmentally beneficial. Bagasse tableware fits this requirement and appeals to consumers looking for environmentally friendly solutions.

According to a deep-dive market assessment by RationalStat, the global Bagasse Tableware market has been analyzed on the basis of market segments, including type, lamination, application, end use and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific) . The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global Bagasse Tableware market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons and Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
• In addition, the long-term sector and products/services 10-year outlook and its implications on the global Bagasse Tableware market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

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Global Bagasse Tableware Market: Segmental and Market Share Analysis

• On the basis of type, plate segment is anticipated to lead the market over the forecast period.
• On the basis of lamination, the laminated bagasse tableware segment is predicted to dominate the market due to its unique features and benefits that satisfy the needs of consumers and companies.

Report Synopsis

Report Metrics	Details
Base Year	2023
Forecast Period	2023-2030
Base Year Market Size	US$ 226.7 million
Market Size Forecast	US$ 356.7 million
Growth Rate	6.5%
Dominant Segment	Laminated
Dominant Region	Asia Pacific
Key Market Drivers	Increased usage in food service sector Surging demand for sustainable and eco-friendly tableware
Companies Profiled	Huhtamäki Oyj Pactiv LLC Bio Futura. D&W Fine Pack Dart Container Corporation Ecoriti Packnwood Genpak, LLC Duni Group Gold Plast SPA

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Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global bagasse tableware market include.

• In December 2022, Dinearth established third manufacturing unit for bagasse-based tableware.

Some of the prominent players and suppliers operating and contributing significantly to the global bagasse tableware market growth include Huhtamäki Oyj, Pactiv LLC, Bio Futura., D&W Fine Pack, Dart Container Corporation, Ecoriti, Packnwood, Genpak LLC, Duni Group, Zhejiang Jiaxing Jiame, Fujian Fuan Xingye, and Gold Plast SPA, among others.

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RationalStat has segmented the global bagasse tableware market based on type, lamination, application, end use and region

• Global Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by Type
  • Plates
  • Bowls and Containers
  • Cups and Glasses
  • Trays and Clamshells
  • Cutlery and Others
• Global Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by Lamination
  • Laminated
  • Non-Laminated
• Global Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by Application
  • Food
  • Beverages
• Global Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by End Use
  • Commercial Use
  • Institutional Use
  • Household Use
• Global Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by Region
  • North America Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by Country
    • US
    • Canada
  • Latin America Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by Country
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by Country
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by Country
    • Russia
    • Poland
    • Hungary
    • Other CIS Countries
    • Rest of Eastern Europe
  • Asia Pacific Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by Country
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • ASEAN
      • Indonesia
      • Thailand
      • Philippines
      • Vietnam
      • Malaysia
      • Rest of ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa Bagasse Tableware Market Value (US$ Million), Volume (Tons and Units), and Market Share (2019-2030) Analysis by Country
    • GCC
      • Saudi Arabia (KSA)
      • United Arab Emirates (UAE)
      • Rest of the GCC
    • South Africa
    • Nigeria
    • Turkey
    • Rest of the Middle East & Africa

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Key Questions Answered in the Bagasse Tableware Report:

• What will be the market value of the global Bagasse Tableware market by 2030?
• What is the market size of the global Bagasse Tableware market?
• What are the market drivers of the global Bagasse Tableware market?
• What are the key trends in the global Bagasse Tableware market?
• Which is the leading region in the global Bagasse Tableware market?
• What are the major companies operating in the global Bagasse Tableware market?
• What are the market shares by key segments in the global Bagasse Tableware market?

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Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

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About RationalStat LLC

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

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