Market Research Future (MRFR) has published a cooked research report on the “Cassava Bags Market” that contains information from 2018 to 2032. The Cassava Bags Market is estimated to register a CAGR of 8.02% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Cassava Bags Market— Envigreen Biotech India Pvt. Ltd, Biogreen Bags Co. Ltd, Avani Eco Affinity Supply Co, Biopac India Co. Ltd., SainBag No Plastic International Pty Ltd, Affinity Supply Co., IMillionotplasticbag, SandBag, Baolai Packaging Co., Ltd., Urban Plastik Indonesia.
Cassava Bags Market Highlights
The global Cassava Bags Market is accounted to register a CAGR of 8.02% during the forecast period and is estimated to reach USD 0.13 billion by 2032.
The rapid pace of urbanization, enhancements in lifestyles, and shifts in consumer preferences are expected to generate revenue opportunities, fostering the growth of the market. These factors capture the attention of environmentally conscious consumers and are poised to drive trends in the global market.
Segment Analysis
The global Cassava Bags Market has been segmented based on the Type, Category, and End User.
Based on the Type, the market is segmented into Grip-Hole, T-Shirt, and Garbage. The T-Shirt segment was attributed to holding the largest market share in 2022. A shift in consumer preferences toward sustainable and eco-friendly products is evident. T-shirts crafted from cassava bags align with this trend, given that cassava is a renewable resource, and the bags derived from it are biodegradable.
Based on the Category, the Cassava Bags Market has been segmented into Organic, and Conventional. The Organic segment was expected to hold the largest market share in 2022. Organic cassava bags are typically manufactured without the use of synthetic pesticides, fertilizers, or genetically modified organisms (GMOs). This resonates with the preferences of environmentally conscious consumers who prioritize products with minimal environmental impact.
Based on the End User, the Cassava Bags Market has been segmented into Food & Beverages, and Animal Feed. The Food & Beverages segment was expected to hold the largest market share in 2022. The food and beverage sector is undergoing a transition towards sustainable packaging options. Cassava bags, characterized by their biodegradability and origin from a renewable source, are in harmony with this trend and are seen as an eco-friendly substitute for conventional packaging materials. Derived from a plant-based source, cassava bags present the opportunity for a diminished environmental impact compared to traditional packaging materials like plastic. This aspect can be particularly appealing to companies seeking to enhance their sustainability credentials.
Regional Analysis
The global Cassava Bags Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Cassava Bags Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Cassava Bags Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Cassava Bags Market comprises of Middle East, Africa, and Latin America.
The largest market share for the Cassava Bags Market was maintained by the North American regional sector. North America has experienced a notable shift in consumer preferences driven by a heightened awareness of environmental protection. In Canada, businesses generated sales of $19.5 billion from environmental and clean technology goods in 2020, with related services contributing $11.1 billion. The environmental and clean technology products sector's value reached $67.5 billion in 2020, constituting 3.3% of Canada's gross domestic product. The sector also contributed to 322,972 jobs in Canada in 2020. Additionally, the region displays the highest consumption of packaged products, further bolstering market growth.
Moreover, the Europe market has been persistently growing over the forecast period. Europe has been leading in the implementation of regulations and policies directed at diminishing the use of single-use plastics and advancing sustainable practices. In March 2023, the Council and European Parliament endorsed new EU legislation that establishes an energy savings target, specifically aiming to reduce 11.7% of final energy consumption by 2030, in addition to the targets already agreed upon in 2020. The incorporation of cassava bags into the market may be influenced, at least partially, by the need for compliance with these regulations and a broader commitment to adopting environmentally friendly packaging solutions.
The upsurge in disposable income and a shift in consumer preferences, driven by a growing awareness of the detrimental impact of plastic, are notable trends in the Asia Pacific region. Furthermore, the increasing consumption of processed foods by end-users is expected to bolster market growth. Cassava bags, known for their environmental safety and ability to preserve the quality of packaged food, are manufactured across various regions in Asia Pacific. Leading cassava-producing countries, such as Thailand, Indonesia, China, and Vietnam, have innovated by introducing lightweight cassava bags for export purposes in recent years. China, in particular, has taken a significant step forward by producing biofuel from cassava extract, contributing to the reduction of greenhouse gases (GHG) and lessening dependence on traditional fuel exports.
Furthermore, the rest of the world's Cassava Bags Market is divided into the Middle East, Africa, and Latin America. Brazil stands as the largest global producer, implementing proactive measures to mitigate the use of harmful plastic within the country. The expanding beauty industry and the increasing responsibility taken by the growing hospitality sector are significant contributors to the overall growth of the global market. South Africa is poised to enter the cassava production arena with assistance from the NGO SHA (Self Help Africa) in 2016. This organization aids in cassava planting initiatives by supplying cassava seeds to farmers, thereby supporting them in meeting their financial obligations.
Key Findings of the Study
- The global Cassava Bags Market is expected to reach USD 0.13 billion by 2032, at a CAGR of 8.02% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market because of rising awareness about plastic pollution and the need for sustainable packaging alternatives.
- Based on Type, the T-shirt segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.
- Envigreen Biotech India Pvt. Ltd, Biogreen Bags Co. Ltd, Avani Eco Affinity Supply Co, Biopac India Co. Ltd., SainBag No Plastic International Pty Ltd, Affinity Supply Co., IMillionotplasticbag, SandBag, Baolai Packaging Co., Ltd., Urban Plastik Indonesia
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Base Year | 2023 |
Companies Covered | 15 |
Pages | 128 |
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