Cassava bags, also known as cassava-based biodegradable bags or cassava starch bags, are a type of eco-friendly packaging made from cassava root starch.
The Cassava Bags Market is poised for significant growth, with an expected compound annual growth rate (CAGR) of approximately 7.6% during the forecast period. In 2023, the market’s revenue is anticipated to reach a valuation of around US$ 66.93 million, and it is projected to experience substantial revenue growth, surpassing US$ 139.23 million by the year 2033. This growth trajectory is indicative of the increasing adoption of cassava bags as an environmentally friendly alternative to traditional plastic bags, driven by consumer demand for sustainable packaging solutions and the global push to reduce plastic pollution.
The future outlook for cassava bags is buoyed by several factors. Rapid urbanization, the transformation of lifestyles towards sustainability, and evolving consumer preferences are projected to usher in revenue opportunities that will underpin market growth. These factors have captured the interest of eco-conscious consumers, thereby contributing to the burgeoning global market trends.
Get Exclusive Sample Copy of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-12978
Market Drivers
As environmental regulations continue to tighten, the imperative to substitute plastic and effectively manage the overall percentage of pollutant waste becomes increasingly crucial. Government initiatives and plans aimed at environmental conservation are anticipated to bolster the adoption of cassava bags.
The eco-friendly and reusable nature of cassava bags renders them ideal for a myriad of purposes, including shopping and traveling. Additionally, their lightweight design enables consumers to carry them for extended periods. These key attributes are serving as driving forces behind the burgeoning growth of the global market for cassava bags.
Competitive Landscape
The importance of environmental sustainability and the presence of several Cassava Bags Market players is likely to increase the competition and drive market growth. Mergers & acquisitions are further expected to garner consumer demand and expand the global market size.
- Envigreen Biotech India Pvt. Ltd. – They produced India’s first 100% biodegradable substitute for plastics. Creating these products took shape in 2012 with the support of scientists and environmentalists worldwide.
- Biogreen Bags Co. Ltd. – It was founded by a group of environmental entrepreneurs looking for quality solutions to the problem of petroleum-based plastic products.
- Avani Eco – They provide a full range of sustainable packaging and hospitality products made from renewable and natural ingredients that are fully compostable.
- Affinity Supply Co. supplies compostable food packaging, paper coffee cups, food takeaway containers, bags, and straws.
- Biopac India Co. Ltd. launched its manufacturing business in 1996 with food-grade polystyrene food service products for one-time use.
Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-12978
Segmentation
By Type:
- Grip-Hole
- T-Shirt
- Garbage
By Category:
- Organic
- Conventional
By End User:
- Food & Beverages
- Animal Feed
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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
