Investment Opportunities in Disposable Eco-Friendly Dinnerware/ Tableware
Made from Rice and Wheat Straw
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As environmental degradation has been a concerning issue over the coming years, businesses and customers are opting for ways to go green. These changes comprise everything from the way one consumes food to the use of utensils. Wheat straw is one of the manufacturing methods that has been popularly used to create various environment-friendly products. It is a concrete and lasting alternative for manufacturing paper & plastic products. One of the advantages of wheat straw is that the products are formulated from left-over agricultural waste after the grains are removed from the crop. Thus, offering a raw material that would otherwise be obsolete. Wheat straw is used to produce plastic. It is compostable and degrades in a commercial or at the home site. It degrades at a similar rate to that of paper leaving behind no toxic materials. And the compost can be used as a manure for plant growth in the future.
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Also, in recent times, scientists and producers have discovered a new revolutionary material that could make one-time use plastics in the foodservice sector redundant: Rice. It comprises cellulose, a preliminary component of the plant cell walls. In the year 2014, the Italian Institute of Technology formulated a new technique to develop plastic-like, durable material from rice by-products. It is also an effective bio-polymer with varied properties that can be modified into different textures from unmalleable and brittle to soft and flexible. The rice-straw is converted into pulp to further process into bio-degradable cutlery/tableware. This bio-degradable tableware (made from wheat and rice straw) help in safeguarding public health by minimizing air & plastic pollution and being an environment-friendly alternative.
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The expert NPCS team with a well-formulated plan guarantees greater profits. We offer all the required information regarding the project.
GLOBAL MARKET TRENDS OF ECO-FRIENDLY TABLEWARE (MADE FROM WHEAT AND RICE STRAW)
The Tableware market consisting of food containers is segregated based on the product type (such as cups, trays, containers, straws, bowls, spoons, and such other reusable dishware). And it is further differentiated based on raw-material type (such as wood, bamboo, rice husk, and wheat bran). The market share for bio-degradable products across the globe increased considerably during the tenure of 2017-19. The bio-degradable tableware market accounted for 2754.9 US million dollars in the year 2018. It is foreseen to climb at a compounded annual growth rate (CAGR) of 6.1 percent from 2019 to 2026.
As illustrated below, based on geographical analysis, the eco-friendly tableware market is distinguished into 5 major markets including North American, European, Asia Pacifica, Latin American, Middle Eastern, and African markets. The European market has the highest consumption of bio-degradable tableware, followed by the Asia Pacific. Germany and the United Kingdom are the major contributors to the European market. Because of the imposed ban by the European Commission on disposable plastic cutlery/plates by the year 2021 to minimize marine pollution.
The Asia Pacifica market is forecasted to accelerate by the year 2028 due to rising industrialization, customer demands, increasing health concerns, and pollution reduction policies in the continent. The major market facilitators of eco-friendly tableware are growing urbanization, increased spending by the middle-class, towering QSR (Quick Service Restaurant) services, favourable policies/initiatives by the government/non-government, and increasing awareness regarding the damaging effects of plastic. However, the current challenge for bio-degradable tableware is less traffic towards the food-service sector induced by the Covid-19 pandemic.
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ECO-FRIENDLY TABLEWARE MARKET IN INDIA
The APAC continent is forecasted to witness an exponential growth in sustainable packaging due to the increasing size of the food & beverages markets, along with rising health and environmental concerns about non-decomposable products. Due to which there is a shift towards the bio-degradable tableware in the Chinese and Indian markets. The GOI (Government of India) has imposed orders on replacing plastic teacups/cutlery/water bottles with eco-friendly products in all government offices. In fact, in the North-Western region of India, a lot of winter smog is generated due to the burning of straw in Uttar Pradesh, Punjab, Delhi, and Haryana.
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The resultant environmental pollution on account of straw burning has led to entrepreneurial initiatives to convert these straws into bio-plastic tableware. A start-up named ‘Kriya Labs’ established by the IIT students has found an innovative way to use the straws. A Hamburg-based company, Bio-Lutions India with operations in Bangalore makes bio-plastic from rice and wheat waste. The US is the largest manufacturer of bio-plastic, however, IIT – G (Guwahati) with funding from the Department of Chemicals and Petrochemicals, is working on manufacturing bio-plastic from crop residue in a cost-effective way.
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Thus, tableware made from crop residues such as rice and wheat straw offers economical and environment-friendly business opportunities!
NPCS is one of the renowned brands in the corporate domain offering technical consultations. Having explored the market for Bio-degradable Tableware (made from rice and wheat straw), production of the same would mean an economical and environmentally sustainable business solution.
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