By product type, the compound annual growth rate of bagasse tableware is expected to be close to 7% between 2021 and 2031. bagasse plates are the most sustainable alternative to plastic and paper plates during weddings, weddings, and parties. These plates are 100% biodegradable and compostable. They are strong, lightweight, and can be safely used at various temperature ranges. bagasse tableware is more durable and thicker than traditional paper plates and has excellent thermal performance for hot oil foods. The rising trend of catering, hotel and dining services will boost the demand for bagasse tableware plates during the forecast period. The global bagasse tableware product market will grow at a compound annual growth rate of 6.8% between 2021 and 2031.
Food is the most profitable application area in the bagasse tableware product market. By 2021, the market share of the food sector is expected to reach around 87%. bagasse tableware products are easy to hold food and easy to dispose of during large gatherings, events and ceremonies. They are easy to buy at an affordable price. In addition, consumers' preference for environmentally friendly tableware will lead to a large demand for bagasse tableware in the food industry.
By 2031, the direct sales department will account for 66% of the market share. The increasing popularity of online food and instant ordering has become a driving force for this category. Food delivery suppliers, suppliers and catering services consider bagasse tableware products to be the most popular food packaging solution because they have multifaceted properties and functions. With the rise of disposable food packaging and concerns about hygiene, safety, and cleanliness, hotels, fast food restaurants and mobile food suppliers are turning to eco-friendly bagasse tableware products.
Who are the main end users of bagasse tableware products? bagasse tableware products are widely used for commercial, institutional, and household purposes. Commercial use is the largest share, followed by institutional use, accounting for about 97% of the cumulative share in the bagasse tableware product market. Nowadays, various commercial and institutional sectors are turning to using bagasse tableware products due to increasing focus on sustainable and environmentally friendly packaging solutions. It is expected that schools, colleges, offices and households will make this transition, thus generating high demand for bagasse tableware in the commercial sector.