Projected to reach a market value of US$ 1.86 billion in 2023, the global cassava packaging is forecasted to achieve a valuation of US$ 4.1 billion by 2033, demonstrating a remarkable Compound Annual Growth Rate (CAGR) of 8.2%. This anticipated growth trajectory highlights the increasing demand for efficient and sustainable packaging solutions within the cassava industry, driven by factors such as changing consumer preferences and advancements in packaging technology. The market’s expansion reflects its pivotal role in ensuring the preservation and transportation of cassava products, supporting the growth and sustainability of the global cassava market.
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.
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Growth Drivers:
- Increasing Demand for Packaged Foods: As consumer lifestyles change and urbanization increases, there’s a growing demand for convenient and packaged food products, including those made from cassava.
- Health Awareness: Cassava products are often perceived as healthier alternatives to wheat-based products due to their gluten-free nature. This health-conscious trend drives the demand for cassava-based products, thereby boosting packaging requirements.
- Innovations in Packaging Technology: Advances in packaging technology offer opportunities for improved shelf life, convenience, and aesthetics, thereby enhancing the appeal of cassava-based products to consumers.
- Expansion of Food Processing Industry: The expansion of the food processing industry, including the cassava processing sector, creates opportunities for packaging companies to cater to the increasing demand for packaged cassava products.
- Government Support and Initiatives: Government policies and initiatives aimed at promoting agricultural processing and value addition can provide a conducive environment for the growth of the cassava packaging industry.
- Export Opportunities: Cassava products have a significant export market, especially in regions where cassava is not locally grown. Effective packaging is crucial for preserving product quality during transportation, thus driving the demand for innovative packaging solutions.
Industry Restraints:
- Supply Chain Challenges: The cassava packaging industry may face challenges in sourcing raw materials consistently, especially if there are fluctuations in cassava production or quality issues in the supply chain.
- Infrastructure Limitations: In some regions, inadequate infrastructure, including transportation and storage facilities, can hinder the efficient distribution of packaged cassava products, impacting the growth of the industry.
- Environmental Concerns: The use of traditional packaging materials, such as plastics, raises environmental concerns due to their non-biodegradable nature. This can lead to regulatory pressures and consumer backlash, necessitating the adoption of sustainable packaging solutions, which may incur higher costs.
- Price Volatility: Fluctuations in raw material prices, energy costs, and currency exchange rates can impact the profitability of cassava packaging companies, especially if they are unable to pass these increased costs onto consumers.
- Competition from Substitutes: Cassava-based products face competition from substitutes such as wheat, rice, and other gluten-free grains. Effective marketing strategies and product differentiation are essential to overcome this challenge.
- Quality Control and Food Safety: Maintaining quality standards and ensuring food safety throughout the packaging process is critical. Any lapses in quality control can lead to product recalls, damaging the reputation of both the product and the packaging company.
Cassava Packaging: Key Players
The key players of cassava packaging 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 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
Cassava Packaging: 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.
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Key Segmentations:
Globally, the cassava packaging 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
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