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At present, governments of various countries are implementing stringent regulations to ban the utilization of plastic tableware, which represents one of the significant factors catalyzing market growth. Apart from this, due to expanding food and beverage (F&B) industry, there is an increase in the demand for eco-friendly and sustainable cutlery solutions in restaurants, fast food outlets and hotels around the world, which is further bolstering the market growth. Furthermore, prominent industry players are investing in research and development (R&D) activities to introduce innovative and cost-effective product variants. This is anticipated to expand their existing consumer base and consequently drive the market growth in the coming years.
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Insights on Market Segmentation:
Breakup by Product
1. Spoon
2. Fork
3. Knife
4. Others
Breakup by Raw Material
1. Wood
2. Husk
3. Paper
4. Plastic
5. Others
Breakup by Type
1. PLA
2. CPLA
3. Starch Blends
Breakup by Application
1. Hotel
2. Catering
3. Others
Breakup by Distribution Channel
1. Online
2. Offline
Breakup by Region
1. North America
2. Asia Pacific
3. Europe
4. Latin America
5. Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined with some of the key players being BioGreenChoice Corp., Bionatic GmbH & Co. KG, Biotrem, Eco Guardian, Eco-Products Inc., Huhtamäki Oyj, NatureHouse Green Products Inc., Vegware, etc.
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