Bagasse Plates Market Size, Share & Analysis | Forecast 2031

Report Description

The global bagasse plates market size was valued at USD 205 Mn in 2022 and is likely to reach USD 365 Mn by 2031, expanding at a CAGR of 6.8% during 2023–2031. The market growth is attributed to the increasing use of eco-friendly products by consumers and growing government initiatives to reduce plastic waste. Furthermore, increasing bagasse plate popularity and packaging solutions across the commercial sector and household are fueling the bagasse plate market.

Bagasse is a fibrous byproduct of sugarcane processing. It is considered as an eco-friendly alternative to plastic plates, as they are biodegradable and compostable. Sugarcane-based disposable plates have a low environmental impact, as they are durable and sustainable. Sugarcane stalks are crushed to extract their juice during sugar production. The remaining fibrous portion is in the form of a wet pulp, which is mixed with chemicals and water to create a dry pulp.

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Bagasse dry pulp is molded into the desired shape using heat and pressure. After molding, plates are trimmed to smoothen the rough edges. Manufacturing bagasse plates is relatively simple and requires minimal resources. Bagasse plates are lightweight, recyclable, and the most preferred choice of self-heating food packaging.

Bagasse is an eco-friendly alternative to expandable polystyrene and is suitable for cold and hot food. These plates are microwave and freezer-friendly and water-resistant. Bagasse plates, bowls, cups, and takeout boxes are used to store and transport a variety of foods with ease. Governments around the world have implemented regulations, aimed at reducing plastic waste and promoting sustainable products.

The demand for bagasse plates has been growing in recent years, as more people become aware of the environmental impacts of disposable products. Retailers and distributors of these plates sell their products to consumers through eCommerce, online retailers, and marketplace platforms.

The research report finds that the COVID-19 outbreak adversely affected the bagasse plates market, due to unorganized business activity in cafes, restaurants, and hotels. Lockdown measures implemented by various governments around the world during the pandemic, which caused disruption in the supply chain of raw materials and also affected the product demand from key end-users significantly. This affected bagasse plate production and also declined market growth.

The COVID-19 threat still going strong across the world. The fear of infection through used plates by others considerably propels the need for disposable dishes across commercial end-users, which is expected to support the market growth during the forecast period.

Bagasse Plates Market Dynamics

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Key Trends

Demand for bagasse plates made up of environmentally friendly materials is on the rise as a substitute to plastic and paper demand for disposable plates. The composition of eco-friendly bagasse plates attracts food catering and dining services. The food service industry is adopting bagasse plates to demonstrate its commitment to sustainability.

Major Drivers

Bagasse plates are eco-friendly alternatives to traditional disposable plates that are made from plastic and paper. Increasing demand for recyclable products as consumers become more conscious of the environment. The growing need for lightweight and sustainable products in the form of bagasse plates is expected to fuel the market.

Existing Restraints

Sugarcane excess is a primary raw material for producing bagasse plates. Shortage of raw materials to manufacturing units is likely to hamper the market in the coming years.

Emerging Opportunities

Customization of products of varying sizes, shapes, branding, and matte texture for printing products creates opportunities for the market players. Recyclable, affordable, and durable products growing revenue for disposable plates made by bagasse.

Scope of the Bagasse Plates Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Bagasse Plate Market Segment Insights

Based on plate size, the bagasse plates market is divided into less than 8 inches, 8 to 12 inches, and above 12 inches. The 8 to 12 inches segment is expected to expand at a significant growth rate during the projection period, due to demand for sturdy bagasse plates at a social events as they are stronger than standard paper plates.

The bagasse plates of size less than 8 inches are anticipated to hold a key share of the market, due to the ease and convenience of handling bagasse plates. They provide sufficient storage for the content of food products for normal utilization, which is likely to propel the segment during the forecast period.

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On the basis of sales channel, the global market is bifurcated into indirect sales and direct sales. The indirect sales segment is further divided into hypermarkets, supermarkets, departmental & discount stores, specialty stores & online sales. The indirect sales segment is projected to register a considerable CAGR during the forecast period, owing to the ease in buying bagasse plates from specialty stores, supermarkets, and hypermarkets.

The direct sales segment is anticipated to gain significant revenue shares of the bagasse plates market, as consumers prefer to verify products physically before purchase. Cutting down unnecessary costs by eliminating intermediaries between manufacturers and consumers is a preferred solution, which is likely to boost the market in the coming years.

Based on end-user, the bagasse plates market is divided into commercial and household. The end-user segment is further divided into hotels & cafes and venues & catering services. The commercial segment is expected to expand at a significant growth rate in the coming years, due to cost-effectiveness and eco-friendly alternatives for paper plates.

In terms of region, the global bagasse plates market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period, due to the surplus production of sugarcane in the region. India, Japan, and China have large quantity production and consumption of sugarcane.

North America is projected to grow at a rapid pace during the forecast period, owing to the development of the food packaging sector in the region. The production cost of bagasse plates is low and its manufacturing process produces minimum waste, which is likely to propel the market in the region.

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