Shifting consumer preferences towards on-the-go eatables and the rising demand for environment friendly products are pushing the demand for biodegradable foodservice disposables in the European market, according to a report by Persistence Market Research.
Key findings about the Europe biodegradable foodservice disposables market are as follows:
1. The Europe biodegradable foodservice disposables market is valued to be US$ 985.8 Mn in 2015.
2. The market is projected to rise at a CAGR of 5.5% for the forecast period of 2015 – 2022, in terms of value.
3. The market is projected to reach a value of US$ 1.43 Bn at the end of 2022.
4. The market in the U.K., Spain, France, and Switzerland is growing owing to increased consumer awareness and adoption of ecofriendly products.
5. Rising rate of fossil fuels and taxes on landfill are major drivers.
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6. The cups & bowls segment led the market with 33.7% share in terms of revenue in 2014 and is expected to continue the trend.
7. The pulp & paper segment was the largest in 2014 and is projected to rise at a CAGR of 4.7% to reach a value of US$ 1,208.0 Mn at the end of 2022.
8. The restaurants segment was the largest consumer of biodegradable foodservice disposables in 2015 and is expected to continue the trend.
9. The U.K. was the dominating region in 2014 with 45.8% shares in terms of value. The trend is expected to continue through the forecast period owing to high opportunities for growth.
10. France is expected to register strong growth in terms of volume through the forecast period.
For more information on the Europe biodegradable foodservice disposables market, click here. http://www.persistencemarketresearch.com/market-research/europe-biodegradable-foodservice-disposables-market/toc
Key players in the Europe biodegradable foodservice disposables market are Bionatic GmbH & Co. KG., I.L.P.A. S.p.A. Group., Vegware, Eco Guardian., The Jim Pattison Group, Gold Plast S.p.A., Biopac (U.K.) Ltd., GreenGood USA, Bunzl plc., and Huhtamaki Group.