Sugarcane Fiber Packaging Market - Flourishing Growth in Europe Creating Lucrative Revenue Opportunities
With the rise in trend and general awareness about sustainable alternatives toward packaging the sugarcane fibre packaging market is showing great potential. After the extraction of the sugarcane juice, the leftover fibrous part is known as sugarcane bagasse or bagasse, this is then processed to create a pulp which then can be moulded into a variety of products of different shapes and sizes with the application of heat and pressure. Sugarcane fibre has the ability to replace commonly and widely used materials like plastics, foam, aluminium, etc. as containers for frozen, fresh and packaged food in the food industry making the sugarcane fibre packaging market very lucrative.
Many companies are entering the sugarcane fibre packaging market owing to its benefits like cost efficiency as the raw material is cheaper, an increase of company brand appeal as many people around the globe are aware of the alarming plastic pollution situation and reducing the carbon footprint as the process of sugarcane fibre production is very sustainable as well. With all the added benefits sugarcane fibre packaging can prove to be a very profitable business.
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Sugarcane Fiber Packaging Market: Dynamics
Every single year millions of trees are being cut for the manufacturing of paper cups that are coated with polyethylene resulting in the decomposition of a single cup taking more than 20 years. The major benefit of using sugarcane fibre packaging is that it has the ability to biodegrade in a maximum of 90 days ranging from 30 days provided a suitable environment. In professional composting facilities the product made from the sugarcane fibre can be composted entirely turning the sugarcane fibres into rich fertilizers containing nutrients like nitrogen, potassium, etc. which gives the use of sugarcane fibre packaging even more attractive.
As per the World Economic Forum, 170 nations have pledged to significantly reduce the use of plastics by 2030. This significant reduction in the usage of plastics comes majorly from the food packaging sector. Currently, there are very few market players to cater for the need of replacing plastic with a sustainable alternative. Sugarcane fibre packaging is one such alternative that can benefit the environment and help business owners to adhere to the government norms cost-efficiently.
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Sugarcane fibre packaging can prove very beneficial to business owners in the hospitality industry. Sugarcane fibre packaging can be easily customised as required which can help business owner promote and market their business in a unique way. The customization will not only help to increase the customer base but will also imply that the business is taking positive steps in protecting the environment.
As a result of Covid-19, many consumers are showing concerns regarding the packaging of food and beverages. As the demand for takeaways and deliveries has increased in recent time the popularity of sustainable packaging has also increased. The sugarcane fiber market has the opportunity to replace the traditional packaging as it can provide various benefits like being liquid-proof, microwave safe and oil proof. The important factor that differs sugarcane fibre packaging from other biodegradable packaging made from plants is that it can be domestically composted with minimal efforts attracting a large number of consumers that prefer making their compost.
Sugarcane Fiber Packaging Market: Regional Outlook
In Europe due to a large population being aware of the importance of environmentally friendly and sustainable packaging products the demand for sugarcane fiber packaging materials is very high. The region shows substantial expansion and growth opportunities for the sugarcane fiber industry mainly because of the policies of the government for bio-economy and existing circular and low-carbon economy. The largest producer of sugarcane in the world is Brazil followed by India and China but in these countries, the utilization of sugarcane fiber as a packaging material is still evolving creating immense opportunities for the sugarcane packaging market to grow in the near future.
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Sugarcane Fiber Packaging Market: Key Players
Key players in the sugarcane fiber packaging market are,
Good Start Packaging
Pappco Greenware – Beriwal International
Dart Container Corporation
Visfortec Pvt. Ltd.
Detpak India Pvt. Ltd.
The report sugarcane fiber packaging market 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 cement packaging market segments and geographies.
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