New York, NY -- (SBWIRE) -- 12/04/2017 -- According to the latest market report published by Persistence Market Research, titled "Europe Market Study On Biodegradable Foodservice Disposables: Achieving "Zero Waste" Economy Has Encouraged the Adoption of Environmentally Sustainable Business Practices," the Europe biodegradable foodservice disposables market is estimated to be valued at US$ 985.8 Mn by the end of 2015 and is anticipated to expand at a CAGR of 5.5% over 2015 - 2022 in terms of value, to reach a market value of US$ 1,429.9 Mn by 2022.
The Europe (U.K. Spain, France & Switzerland) biodegradable foodservice disposables market is driven by increasing consumer adoption of ecofriendly products and rise in number foodservice providers seeking sustainable business practices. Moreover, increasing tax on landfill collection, coupled with increasing price of fossil fuel, is further expected to drive market growth in the region over the forecast period.
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On the basis of type, the Europe biodegradable foodservice disposables market has been segmented into plates, trays & containers, cutleries, cups & containers, and clamshells. The cups & bowls segment dominated the market with a revenue share of 33.7% in 2014 and is projected to maintain its dominance through 2022. Increased usage of biodegradable cups by various foodservice providers for serving hot or cold drinks is supporting the segment growth in the market currently. The trays & containers segment is expected to exhibit favorable growth over the forecast period.
On the basis of raw material, the market is segmented into bio plastics, pulp & paper & woods & leaves. The pulp & paper segment accounted for the largest share in 2014 and is estimated to be valued at US$ 1,208.0 Mn by 2022, expanding at a CAGR of 4.7% over 2016–2022. The bio plastic segment is expected to exhibit substantial growth in the market.
On the basis of end use, the market is segmented into hotel & other accommodation facilities, restaurants, café and bistros, bars & pubs, clubs, foodservice providers/caterers & institutions. The restaurants segment accounted for the highest value share of the overall market in 2015 and is expected to remain dominant over the forecast period.
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In terms of a distribution channel, the market has been segmented into the wholesaler, cash & carry, hypermarket/supermarket, logistic provider, distributors and online. The cash & carry segment is projected to exhibit the highest growth over 2016–2022. The online segment was valued at US$ 168.2 Mn in 2014 and is expected to expand at a CAGR of 6.5% during the forecast period.
The report provides in-depth information about the various trends driving each segment and provides analysis and insights about the biodegradable foodservice disposables market in specific countries. The U.K. market accounted for the largest volume share of 46.1% of the Europe biodegradable foodservice disposables market in 2014.
Key players in Europe biodegradable foodservice disposables market that are covered in the report include Biopac (U.K.) Ltd, Huhtamaki Group, Bionatic GmbH & Co. KG, I.L.P.A. S.p.A. Group, The Jim Pattison Group, GreenGood USA, Gold Plast S.p.A, Vegware, Eco Guardian, and Bunzl plc.
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