Biodegradable Tableware Market Share

On the basis of regional analysis, the biodegradable tableware market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is expected to account for largest revenue share by 2036, driven by presence of leading players in the region which manufacture and market biodegradable tableware. Moreover, the region is leading the world when it comes to sustainability; under its “New EU Directive for Single-Use Plastics” initiative. The market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of increasing pace of industrialization and rising consumer preferences in this region, along with growing health consciousness and initiatives to reduce pollution in the region. The rising awareness pertaining to utilization of ecofriendly products in the region, especially in countries such as China, India and Japan, is further resulting in the increased demand for biodegradable tableware.