The global eco-friendly paper plates market is on a sustainable growth trajectory, poised to reach a substantial valuation of US$ 1.17 billion in 2023, with a promising CAGR of 4.50% expected from 2023 to 2033, culminating in a market size of US$ 1.82 billion by 2033. This growth is fueled by increasing awareness among consumers about environmental concerns and the escalating demand for eco-friendly packaging products.
The plain paper plate segment is anticipated to remain a dominant force in the market, driven by its widespread use by food service providers worldwide. The top 5 providers are projected to capture a significant 20 to 25% share of the global market in 2023.
Furthermore, government restrictions on single-use plastic products and the expanding food service sector in North America and Europe are expected to play pivotal roles in the market’s expansion. Together, these regions are anticipated to hold approximately half of the global market share during the forecast period, offering new growth opportunities for industry leaders. Overall, the eco-friendly paper plates market is set to grow 1.5 times its current value, reflecting a sustainable shift in consumer preferences and environmental responsibility.
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Consumer consumption habits in the food and beverage industry have undergone a significant dynamic transformation. As a result, there is fierce competition among food service providers on all platforms for food delivery, which would create profitable prospects for companies that provide single-use paper plates and disposable packaging & cutlery for food items. For instance, Wolt, a Finland-based company that is known for its delivery platform for food, expanded its networks across Croatia, Norway, the Czech Republic, Hungary, Poland, and other countries.
Eco-friendly paper plates are also extensively used by restaurants providing home delivery services as these are highly flexible for carrying various food items. It would further lead to a rapid inclination of consumers towards sustainable paper plates from conventional options available in the market like metal or plastic plates.
Key Takeaways from Eco-friendly Paper Plates Market
- By size, the less than 8 inches segment is projected to account for 49% of the global market share by the end of 2022.
- Based on end use, the commercial segment is projected to register a CAGR of 4.9% during 2022-2032.
- Europe and East Asia are collectively estimated to hold around 45% of the market share by the end of 2032.
- The U.S. eco-friendly paper plates market is projected to create an absolute $ opportunity of US$ 69.1 Mn during 2022-2032.
- The Germany eco-friendly paper plates market is anticipated to grow 1.4 times the current market value during the forecast period.
“Surging demand for convenient and environmentally friendly packaging solutions in the food and food service industries is anticipated to augment sales of eco-friendly paper plates. Also, increasing need for cost-effective and high-quality packaging solutions is anticipated to create new growth opportunities for key manufacturers of eco-friendly paper plates,” says a FMI analyst.
Launch of Unique Compostable Paper Plates to Drive the Global Market
Innovation is crucial as it helps companies to strengthen their positions in the market, thereby creating better opportunities and connections with their customers. There is a high scope of opportunity for innovation in the eco-friendly paper plates market. Rising demand for excellent quality food service products is anticipated to aid growth.
Use of paper plates rather than plastic plates can help overcome various limitations of plastics and expand the eco-friendly paper plates market. Eco-friendly paper plate manufacturing companies are investing in R&D and continuously introducing new products to cater to changing customer demand. Huhtamaki Fresh, for instance, launched an eco-friendly food plate and tray, which are microwaveable and a green solution for consumers. Product enhancement is important for companies since it improves the attractiveness of their products and helps to attract more customers.
Oy Mini-Maid AB also produced paper plates that are recyclable, compostable, and biodegradable in nature. Thus, ongoing innovations in the field of eco-friendly paper plates will attract the attention of more consumers and bolster sales in the global market.
Competitive Landscape: Eco-friendly Paper Plates Market
- Huhtamaki Oyj,
- Graphic Packaging International, LLC,
- Pactiv LLC.,
- Dart Container Corporation,
- Oy Mini-Maid Ab,
- HOSTI GmbH,
- Itterra A.S.,
- Natural Tableware,
- Duni Group Global,
- Gafbros Ltd.,
- Dinearth Eco-Friendly Tableware, and
- Pappco Greenware
are some of the key players operating in the eco-friendly paper plates market. As per FMI, tier 1 players hold about 15-20% of the global eco-friendly paper plates market share.
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Eco-friendly Paper Plates Market Outlook by Category
By Size:
- Less than 8 inches
- 8 inches to 12 inches
- More than 12 inches
By Product Type:
- Partition
- Plain
By Sales Channel:
- Business to Business (B2B)
- Business to Consumer (B2C)
By End Use:
- Commercial
- Institutional
- Household
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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.
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