Rising demand for eco-friendly packaging products, increasing consumer awareness about the environment, and government restrictions over using single-use plastic products are estimated to bolster sales of eco-friendly paper plates during the forecast period. The market is anticipated to grow 1.5x the current value from 2023 to 2033.
The global Eco-friendly Paper Plates Industry is estimated to capture a valuation of US$ 1.17 billion in 2023 and reach US$ 1.82 billion by 2033. The global market is anticipated to capture a CAGR of 4.5% during the forecast period.
The Eco-friendly Paper Plates Industry is a segment of the broader disposable tableware and packaging industry. It specializes in the production and distribution of paper plates that are environmentally friendly and sustainable. These plates are designed to provide a greener alternative to traditional disposable tableware made from plastic or foam.
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Market Trends
A significant portion of the plastic utilized by the general population finds its way into oceans, landfills, and the broader environment. The production of plastic-based items involves the use of toxic chemicals, leading to contamination of the soil and subsequent entry into the human food chain.
The environmental repercussions of plastic usage, with a substantial amount ending up in oceans, landfills, and the broader environment, have raised concerns. The manufacturing process of plastic-based products involves the use of toxic chemicals, and the disposal of these products contributes to soil contamination, eventually entering the human food chain. This environmental concern is prompting a shift towards the adoption of eco-friendly paper plates as a sustainable and safer alternative.
The widespread use of eco-friendly paper plates in the food and food service industry is increasingly driven by a growing environmental consciousness among the general population. The surge in awareness regarding the impact of plastic on the environment is poised to significantly boost the sales of eco-friendly paper plates.
Driving Factors in the Market are:
- Regulation Initiatives: Government bodies are implementing rules and regulations to ban single-use plastics. They are promoting the adoption of eco-friendly alternatives to expand the global market.
- Environmental Concerns: The growing consumer awareness of environmental issues such as ecosystems and marine life impacts is fueling the global market. Consumers are more concerned about seeking eco-friendly alternatives to reduce hazardous pollution.
- Corporate Social Responsibility: Several organizations and businesses are taking initiatives to take environmental responsibility and sustainability. To maintain sustainability, these organizations are increasing the adoption of eco-friendly paper plates for meetings, events, and corporate parties.
- Changing Consumer Preferences: Changing consumer preferences and growing awareness among the young generation to increase the adoption of sustainable products are advancing global market revenue.
- Innovation and Product Development: Manufacturers are improving eco-friendly paper plate quality, performance, and design by investing hugely in research activities. They are adopting advanced technologies and innovations to lift the market upward.
Key Takeaways:
The global Eco-friendly Paper Plates Industry is estimated to capture a valuation of US$ 1.82 billion with a CAGR of 4.50% by 2033.
The United States is anticipated to dominate the global market by capturing a share of 19.60% during the forecast period.
Japan is estimated to secure a share of 4.10% in the global market by 2033.
With a share of 4.70%, Germany is significantly driving the global market during the forecast period.
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Key Players Profiled:
- Huhtamaki Oyj
- Graphic Packaging International, LLC
- HOSTI GmbH
- Pactiv LLC.
- Itterra a.s.
- Oy Mini-Maid Ab
- Happiness Moon Co., Ltd.
- Dart Container Corporation
- Boardlink
- Natural Tableware
- Duni Group Global
- DOPLA SPA
- Gafbros Ltd.
- Plastirun Corporation
- Shandong Shengquan New Materials Co., Ltd.
- Dinearth Eco-Friendly Tableware.
- Biotrem
- GreenPlate
- Pappco greenware
Market Segmentation:
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
- Oceania
- The Middle East & Africa (MEA)
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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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