Biodegradable meal trays are a type of packaging made from organic materials that can decompose naturally over time. These trays offer a viable alternative to traditional plastic containers, which can take hundreds of years to break down and have a detrimental impact on the environment. With the rising concerns over plastic pollution and the detrimental effects it has on marine life, the Biodegradable Meal Trays Market has gained significant traction.
As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global Biodegradable Meal Trays market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales Biodegradable Meal Trays in the coming 10-years.
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The Growing Demand for Biodegradable Meal Trays
The increasing consumer awareness regarding the harmful effects of plastic waste on the environment has fueled the demand for biodegradable meal trays. These trays not only address the issue of plastic pollution but also align with consumers’ desire for sustainable and eco-friendly solutions. As a result, the Biodegradable Meal Trays Market has witnessed remarkable growth over the past few years.
According to a report by Market Research Future, the global Biodegradable Meal Trays Market is expected to reach a value of USD 950 million by 2023, growing at a CAGR of 4.15% during the forecast period (2018-2023). The market’s growth can be attributed to the increasing adoption of biodegradable packaging materials by foodservice establishments, airlines, and railways.
Challenges and Limitations of Biodegradable Meal Trays
While the Biodegradable Meal Trays Market holds immense potential, it also faces certain challenges and limitations that need to be addressed for sustainable growth. Let’s delve into some of the key obstacles faced by the market.
1. Cost Implications
Compared to traditional plastic containers, biodegradable meal trays can be more expensive to produce. The cost of sourcing organic materials, processing, and manufacturing biodegradable trays is often higher, which can impact their affordability for some businesses. However, as technology advances and demand increases, economies of scale are expected to drive down the cost of production.
2. Performance and Durability
Biodegradable meal trays may face performance and durability issues compared to plastic containers. While advancements have been made to enhance the strength and durability of biodegradable materials, they may not always match the longevity and resilience of traditional plastic trays. This limitation can pose challenges in certain food packaging applications where durability is crucial, such as long-distance transportation.
Key Biodegradable Meal Trays Market Takeaways and Projections
- The U.S. is expected to lead the North America Biodegradable Meal Trays market, projecting the fastest growth in the region between 2022-2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Report Benefits & Key Questions Answered
- Biodegradable Meal Trays Historical Market Analysis: The detailed survey by FMI, examines key factors in the Biodegradable Meal Trays market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Biodegradable Meal Trays market for the forecast period 2022-2032.
- Biodegradable Meal Trays Category & Segment Level Analysis: The category & segment level analysis conducted by FMI studies the market in terms of segments. It studies the vital dynamics across each segment and also highlights their growth prospects in the coming ten years.
- Biodegradable Meal Trays Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Biodegradable Meal Trays for the assessment period. As per the study, the demand for Biodegradable Meal Trays will grow at a robust CAGR between 2022-2032.
- Biodegradable Meal Trays Company & Brand Share Analysis: A recent study by FMI highlights a comprehensive list of leading market players and stakeholders in the global Biodegradable Meal Trays market. It examines the business execution, cost structure analysis, and supply chain analysis, of Tier 1, Tier 2, and Tier 3 players for the forthcoming decade.
- Biodegradable Meal Trays Market Trend Analysis:The latest study by FMI on the Biodegradable Meal Trays market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Biodegradable Meal Trays market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global Biodegradable Meal Trays market. Some of the players in the global Biodegradable Meal Trays market are
- AS Food Packaging
- Cosmos Ecofriends
- Suzhou Ecos Tableware Co. Ltd
- Green Paper Products
- Genpak
- Be Green Packaging
- Visfortec Pvt Ltd
- others
Biodegradable Meal Trays Market: Market Segmentation
The Global biodegradable market is segmented on the basis of material:
- Kraft paper
- Bagasse
- Bio-plastic
- Bamboo
- Bulrush
The Global biodegradable market is segmented on the basis of application:
- Cold & Frozen Food
- Prepared food and ready to eat food
- Kosher meals
- Others
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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