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According to Transparency Market Research’s latest report on the global bagasse plates market for the forecast period of 2021-2029, the market is projected to be driven by continuous research & development activities in food packaging, which are leading to the development of bagasse plates in terms of designs and shapes due to the growing demand for eye-catchy and sustainable packaging of products

The bagasse plates are made of bagasse, a waste residue or leftover of the sugarcane after the sugarcane pulp is extracted. The bagasse plates are highly biodegradable and 100% compostable in nature, which leads to no wastage, thereby eliminating the release of the carbon footprints.

The global bagasse plates market is expected to expand 1.81 times to its current market value at a CAGR of 6.7% during forecast period

Newly released data from the global bagasse plates market analysis shows that the global demand in the overall bagasse plates market witnessed year-on-year (YoY) growth of 7.4% in 2021 to a total of 1,939 million units. The 8 inches to 12 inches segment is estimated to grow by 5.2% to 1,790 million units, while the above 12 inches segment is estimated to grow at 6.5% CAGR to 355 million units.

In 2021, the U.S. bagasse plates market grew by 4% YoY, bucking initial skepticism about how the market would perform during a global pandemic. Across the whole of North America, total demand/sales of less than 8 inches is expected to reach US$ 12.5 Mn by 2029.

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Rising Demand for Adoption of “Green Tableware”, Sustainable Packaging Escalating Market Growth

In recent times, global rigid packaging has witnessed significant market growth, owing to the added advantages in terms of durability, versatility, and recyclability. Moreover, continuous R&D activities in rigid packaging have led to innovations in different rigid packaging materials, thereby pulling the demand for the market.

Bagasse plates are an innovative and trending form of product packaging for various food segments such as dine-in restaurants, takeaway facilities, delivery services, catering services, etc. They not only serve in the effective packaging in terms of durability, water, and thermal resistance but also they are attractive in appearance due to their attractive shapes and designs on the bagasse plates. Bagasse plates with compartments covered with lids are the modified form of the bagasse plates, which give enhanced food protection, longer thermal regulation, and aid in imparting ease & convenience in the handling. Therefore, nowadays, majority of the food businesses are adopting and using bagasse plates for enhancing the sustainability parameter as well as the ease & convenience toward the disposal after its single use.

Besides adding durability and sustainability, bagasse plates also provide resistance to water and temperature up to 90 degree Celsius, owing to the thick layers of fiber, thereby leading to the enhanced protection to the food product. The matte finish of bagasse plates also results in ease & convenience in handling the product, as it does no heat up and/or changes its shape on heating as compared to the plastic and paper plates.

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Customization, Versatility of Bagasse Plates to Drive Demand

Bagasse plates are used to store and hold variety of food items ranging from solid to semi-solid in nature. In order to eliminate the need of additional bowls to the plates, bagasse plates are available in the form of compartments, which are used to hold a variety of semi-solid to liquid food items. These plates are available upon the customer’s requirements in terms of the nature of the food items to be sold. The majority of the top food manufacturers are looking for customizations of bagasse plates, especially with lids, which is attractive in appearance and can be printed with alluring ink prints of the brand, thereby to enhance the brand value.

Majority of restaurants and cafes are partnering with the bagasse plates manufacturers to launch green tableware in terms of sustainability, biodegradability, and compostablity with versatility and enhanced durability offered by the bagasse plates

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Bagasse Plates Market: Key Findings

In terms of plate size, the 8 inches to 12 inches segment is forecast to hold around 3/5th of the market share, owing to the ease & convenience in handling of the bagasse plates and the sufficient storage in holding of the food product/s. These bagasse plates are used to store and hold the required amount of food products with the use of lids and the plate compartments, which can be effectively used in the storage of a variety of food items with longer thermal insulation. Majority of manufacturers are involved in the development of 8 inches to 12 inches plates, which is expected to create a higher demand, thereby, uplifting the market for the bagasse plates in the forecast period.

Based on sales channel, the indirect sales segment is expected to hold the majority of the market share, owing to the easy availability of the bagasse plates in hypermarkets, supermarkets, specialty stores, etc. The target segment is forecast to offer total incremental opportunity of approximately US$ 95.27 Mn during the next ten years and also likely to expand by 1.83 times to its market value during the next ten years.

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