The global cassava bags market is set for robust growth over the next decade, with market revenue expected to rise from USD 66.93 million in 2023 to USD 139.23 million by 2033, expanding at a CAGR of 7.6%, according to the latest analysis.
As environment protection regulations become stricter, the requirement to replace plastic and the tedious management of the overall percentile of pollutant waste becomes vital. The Government is also making initiatives and plans to secure the environment, which is expected to increase the adoption of cassava bags.
The reusable nature of cassava bags makes them eco-friendly and ideal for various uses, such as shopping and traveling. Moreover, cassava bags are light in weight, which allows consumers to carry them for longer periods. These pivotal factors are driving the custom global market growth.
Key Takeaways:
- The global cassava bags market is estimated to secure a valuation of US$ 139.29 million with a CAGR of 7.6% by 2033.
- Thailand is estimated to dominate the global market by securing a maximum share during the forecast period.
- Based on category, the organic segment is estimated to lead the global market by 2033.
Key Players Achieving Their Goals in the Global Market
Key players play a crucial role in the global market by investing huge amounts in research and development activities. These players drive the global market by adopting various marketing tactics such as mergers, acquisitions, collaborations, and agreements. The key is uplifting the market by offering consumers unique, cost-effective, improved, and advanced products.
They are implementing new ideas to upsurge the market size to another level to achieve their goals. These players are trying to collect maximum revenue through marketing strategies, branding, and international promotion.
Recent Developments in the Global Market are:
In 2021, DRDO announced its collaboration with Ecolastic Private Limited and Acharya Nagarjuna University. This collaboration took place for developing plant-based biodegradable bags for food materials.
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Cassava Bags Market by 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)
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