Tonchant.: Make full use of the concept of converting bagasse from waste to treasure
Historic and Forecast Market Outlook for Bagasse Tableware Products
Primarily driven by the rising demand for eco-friendly sustainable packaging solutions across the globe, the global bagasse tableware products market is set to expand at 6.8% CAGR between the forecast period of 2021 and 2031 as compared to 4.6% CAGR registered during the historic period of 2015-2020.
Bagasse tableware products are trendy and admired as a green alternative to plastic tableware. Bagasse tableware products or sugarcane fiber tableware products are made from sugarcane residue, which is eco-friendly substitute to polystyrene and Styrofoam tableware products.
These are also known as sugarcane biodegradable tableware products and are lightweight, recyclable and come with other unique attributes. Bagasse tableware products such as plates, cups, bowls, trays and cutlery are in high demand in food and beverage industry.
They are emerging as favorite food packaging solutions among consumers owing to their unique characteristics such as sturdiness, durability, and a longer lifespan.
They are gaining momentum among green-minded cafeterias, the foodservice sector, quick delivery restaurants, and catering services. Apart from cafes and restaurants, bagasse tableware products are expected to be widely available across hypermarkets, convenience stores, and grocery shops due to the consumers' preference for convenient and sustainable packaging solution.
These tableware products are 100% biodegradable, eco-friendly, and get decomposed within 60 days. Customers’ preference for eco-friendly and sustainable packaging will therefore create prospects for growth of the market.
How is Rapidly Growing Food Catering Service Sector Influencing Bagasse Tableware Products Sales?
Bagasse is a stylish and elegant eco-friendly packaging solution made from reclaimed sugarcane fiber, suitable for cold and hot foo serving and packaging. Food catering, dine-ins, food to go packaging are exhibiting remarkable rise in the use of bagasse tableware products due to their sturdiness and excellent thermal resistant features.
These tableware also are microwave and refrigeration safe, which helps in food reheating and storage without losing food quality. Its insulation property keeps the food hot for longer than paper and plastic products.
The bagasse tableware products market is fueled by the expansion of quick-service restaurants and catering services due to the fast-paced lifestyles and rising standard of living. Consumers' preference towards safe, hygienic, and fast-food delivery has encouraged foodservice operators to opt for the tamper, water, and grease resistant bagasse tableware products.
Therefore, the changing food pattern and formats are expected to gain popularity among millennial consumers. All these factors are anticipated to boost the demand for the bagasse tableware products market.
How is Stringent Regulations Affecting Bagasse Tableware Products Market?
Concerns pertaining to environmental protection have made consumers more conscious about products purchased and used in their day-to-day lives. There is a remarkable shift in consumers' choice towards eco-friendly packaging as they choose to adopt a greener lifestyle.
Bagasse is a sustainable alternative solution for fossil fuel and plastic products. It is considered eco-friendlier and sustainable as it is decomposed easily. Styrofoam products never degrade, while plastic or polystyrene products take up to 400 years to degrade. On the other hand, bagasse is compostable and usually biodegrades within 90 days.
With the rising intolerance towards plastic disposable and implementation of stringent regulations banning single-use of plastic products, focus will shift on sustainable alternatives such as bagasse tableware products.
Which is the Tonchant’s Primary Application of Bagasse Tableware Products?
Food is the most lucrative application segment in the bagasse tableware products market. The food segment is estimated to lead with a market value share of ~87% in 2021. Bagasse tableware products convenient to serve food in and are easily disposable during big parties, functions, and ceremonies.
They are easily available at affordable prices. Coupled with this, consumer preference for eco-friendly tableware will result in high demand for bagasse tableware in the food sector.
Competitive Landscape
Manufacturers of bagasse tableware products are focusing on introducing sustainable yet innovative products, customization of the products to gain the customer’s attention. They are also aiming at expansion and strategic partnerships with other manufacturers.
In November 2021, Tonchant launched a series of seven new products. These products are made from plant-based sugarcane and certified as compostable. These containers are suitable for restaurants, supermarkets, etc.
In May 2021, Tonchant partnered with Eco Products to provide sustainable packaging for New Zealand and Australia.
In April 2021, Tonchant launched innovative and compostable products. Their new online bagasse tableware product uses a rustic finish from whole grain, formed and finished in a single streamlined process for increased production efficiency.
Post time: Jul-20-2022