In recent years, policies on banning and reducing Single-Use Plastics took effect in the European Union (EU), the U.S., and an increasing number of countries. The United States recently also announced its Plan to Conserve Global Forests to restore at least 200 million hectares by 2030, engaging global stakeholders and communities.
Simultaneously, the global compostable tableware market was valued at US$ 637.32 Mn in 2021, expected to reach a value worth US$ 1.16 Bn by the end of 2031.
When it comes to end user mindset, more than a third of the population across the globe is adopting environmentally free brands. The preference for environmentally-friendly products is surging.
With the use of single-use plastics and deforestation being discouraged and increasing demand for a regenerative economy and eco-friendly lifestyles, there is a huge potential prospect for alternatives that are compostable in nature such as bio-plastics, sugarcane bagasse and bamboo pulp products.
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