Expected to amass a market value of US$ 1.86 billion in 2023, the global cassava packaging market is poised for significant growth, with projections indicating a valuation of US$ 4.1 billion by 2033, showcasing a noteworthy Compound Annual Growth Rate (CAGR) of 8.2% throughout the forecast period. This robust expansion underscores the rising demand for efficient and sustainable packaging solutions in the cassava industry, aligning with the increasing focus on eco-friendly practices. The anticipated CAGR highlights the market’s potential to address evolving consumer preferences and industry requirements, emphasizing the pivotal role of packaging in the cassava supply chain.
The surge in environmental consciousness, coupled with a growing emphasis on biodegradability, is propelling the widespread adoption of cassava-based packaging as an eco-friendly alternative to traditional options like plastic and Styrofoam. Positioned as a highly suitable choice, cassava packaging is gaining prominence, particularly in the flourishing food sector, where cassava containers emerge as a preferred option due to their compatibility with both hot and cold food items, along with their microwave-friendly nature. This shift highlights the pivotal role cassava packaging plays in addressing sustainability concerns while catering to the diverse needs of the dynamic and eco-conscious food industry.
Request the Sample Report : https://www.futuremarketinsights.com/reports/sample/rep-gb-12976
Cassava Packaging Market: Key Players
The key players of cassava packaging market are
- Avani Eco.
- UBUNTOO.
- GBG Indonesia
- Affinity Supply Co.
- Biogreen Bags
Recent Developments-
- In May 2022, Amcor Rigid Packaging announced the development and launch of PowerPostTM. This technology produces nearly one-third of lighter bottles with 30% less energy and 30% less carbon than most 20 oz. bottles by dislodging the vacuum in the container post-filling.
- In January 2022, Amcor Plc. showcased AmFiberTM, a new platform for paper-based packaging products. AmFiber’s innovations aim to reimagine the functionality of traditional paper packaging, offering a broad range of functional benefits to meet the changing needs of consumers. AmFiber’s product is an innovative solution tailored to provide snacks and confectionery items to European customers with recyclable packaging that offer a high barrier to oxygen and moisture.
Key Takeaways:
- The global cassava packaging market is expected to grow at a CAGR of 8.2% from 2023 to 2033.
- Increasing environmental concerns and the demand for compostable packaging alternatives drive the adoption of cassava-based packaging.
- Starch-based bioplastics, with their moisture barrier properties and lower environmental impact, contribute to the growth of the cassava packaging market.
- Government investments, subsidies, and regulations promoting the use of biodegradable plastics are driving market expansion.
- Europe is expected to dominate the market, followed by North America, due to increasing consumer awareness and government initiatives toward environmentally safe packaging approaches
Market Drivers:
- Increasing Demand for Processed Foods:
- The demand for processed cassava products, such as cassava flour, starch, and chips, is likely to drive the need for effective and innovative packaging solutions.
- Growing Awareness of Sustainable Packaging:
- Consumers and businesses are increasingly focused on sustainable and eco-friendly packaging materials. Cassava-based packaging may be considered as an environmentally friendly alternative to traditional materials.
- Government Initiatives and Regulations:
- Supportive government policies and regulations promoting sustainable packaging practices may drive the adoption of cassava-based packaging solutions.
- Rising Consumer Health Consciousness:
- As consumers become more health-conscious, there may be a growing demand for packaging that ensures the safety and quality of cassava products, contributing to the overall market growth.
- Technological Advancements:
- Innovations in packaging technologies that enhance shelf life, reduce waste, and improve convenience can positively impact the cassava packaging market.
Market Restraints:
- Cost Considerations:
- The initial costs associated with the development and production of cassava-based packaging materials may be higher compared to traditional packaging options, potentially acting as a restraint.
- Limited Awareness and Adoption:
- Lack of awareness about cassava-based packaging options among consumers and businesses may slow down the adoption rate.
- Supply Chain Challenges:
- Issues related to the consistent and reliable supply of cassava as a raw material for packaging, as well as potential disruptions in the supply chain, could pose challenges to market growth.
- Competitive Landscape:
- Established packaging materials and methods may have a stronghold in the market, making it challenging for cassava-based packaging to gain widespread acceptance.
- Perception and Acceptance:
- The acceptance of cassava-based packaging by consumers and businesses may be influenced by perceptions related to its durability, functionality, and overall performance compared to conventional packaging materials.
Cassava Packaging Market: Regional Outlook
North America is showing tremendous growth as a result of government restrictions on the use of an environmentally safe packaging approach that drives the demand for cassava packaging. As the adoption of eco-friendly products grows, Europe dominates the market for cassava packaging due to a growth in demand for the product.
Thailand and Indonesia are the main cassava producers, so cassava packaging is projected to have the largest market share, with South Asia and East Asia being the third largest producers.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on cassava packaging market segments and geographies.
Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/12976
Key Segmentations:
Globally, the cassava packaging market is segmented by product type, applications and end-use.
By Product Type:
- Cups & Glasses
- Bowls & Trays
- Containers & Clamshell
- With Lid
- Without Lid
- Plates
- Plane plate
- Partitioned plate
- Cutlery
By Applications:
- Food
- Ready to eat Meals
- Processed Food
- Fruits & Vegetables
- Soup
- Others
- Beverages
- Milk Products
- Tea & Coffee
- Cold dinks
- Juices
By End-Use:
- Commercial Use
- Household Use
- Institutional Use
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
