Biodegradable Foodservice Disposables Market is projected to increase at a CAGR of 2.8% by 2023

Biodegradable Foodservice Disposables Market (U.K., Spain, France, and Switzerland) is expanding steadily, which can be linked to the growing initiatives taken by foodservice providers to reduce waste. In the near future, it is also anticipated that increased support and promotional efforts by various associations to increase consumer demand for eco-friendly products will fuel market expansion.

The market has been divided based on product type, raw material, end-use, distribution channel, and country for a better understanding and analysis of the sector.

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The Biodegradable Foodservice Disposables market is estimated to expand at a CAGR of 5.5% from 2016 to 2022, to reach a market value of US$ 1,429.9 Mn by 2022. The market was valued at US$ 941.0 Mn in 2014. In terms of volume, the Biodegradable Foodservice Disposables market stood at 5,550 million units in 2014 and is projected to increase at a CAGR of 2.8% from 2016 to 2022.

The U.K. and Spain are projected to be the fastest-growing markets over the forecast period in terms of volume consumption. The growth of the U.K. market is mainly attributed to shifting consumer preference towards eco-friendly products. Moreover, increasing government regulations to control landfill and rising prices of fossil fuel are factors further expected to drive the market demand in the country.

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How is the Biodegradable Foodservice Disposables Market Segmented?
• Among the product types, in terms of value, the cups & bowls segment accounted for the largest market share of 33.7% in 2014 and is projected to maintain its dominance through 2022. In value terms, the cutleries segment is expected to show robust growth in the biodegradable food service disposable market over the forecast period. The trays & container segment is also projected to showcase favorable growth over the forecast period.

• On the basis of raw material, pulp & paper segment has been estimated to account for the largest value share in 2015 and is expected to remain dominant over the forecast period. The segment was valued at US$ 845.8 Mn in 2014. The growth of the segment is primarily driven by the wide availability of raw material at a low price. In addition, Bio plastic segment is expected to account for highest growth over the forecast period.

• By end use, the restaurants segment accounted for the largest value share of 32.8% of the biodegradable foodservice disposables market in 2014. The segment is expected to maintain its dominance through 2022. Moreover, in terms of volume consumption, the segment is expected to expand at the highest CAGR of 3.8% over the forecast period.

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