Newark, May 09, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global cassava bags market is expected to grow from USD 66.96 Million in 2023 to USD 139.29 Million by 2033, at a CAGR of 7.60% during the forecast period 2023-2033.
These cassava bags are made using natural materials and are used for biodegradable packaging by many businesses. It means that these bags will break down naturally over time. Cassava bags are compostable; hence, they can be added to compost piles and start contributing to soil enrichment. Cassava bags are being used as they are helping in decreasing the use of conventional plastics, which leads to less plastic pollution.
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Scope of Cassava Bags Market
| Report Coverage | Details |
| CAGR | 7.60% from 2024 to 2033 |
| Market Size in 2023 | USD 66.96 Million |
| Market Size by 2033 | USD 139.29 Million |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Year | 2024 to 2033 |
| Historical Year | 2020-2022 |
| Segments Covered | Type, Application, Regions |
Competitive Strategy
To enhance their market position in the global Cassava Bags market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In February 2017: Avani Eco Affinity Supply Co. started selling biodegradable goods in 2015. Its most in-demand product has become the cassava bags. Based on industry data in 2017, around 3 tonnes of bags were produced in a day at the Java factory and sold to businesses like hotel groups and shops. It was mostly sold in Bali and across Indonesia. Its demand is also growing in other countries. It helped the organization expand its market share in the Cassava Bags market.
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Market Growth & Trends
Cassava bags are produced using PLA (Polylactic acid), which is biodegradable and bioactive thermoplastic aliphatic polyester, which comes from biomass that is generally fermented seed starch like corn, Cassava, sugar beet pulp and sugarcane. These granules of PLA resins are kept in a device known as a film blower machine, which leads to the creation of bioplastic layers. These bioplastics layers are then put into bag-making appliances, and the bags are cut. These cassava bags are also safe for microorganisms to consume, which helps maintain environmental circulation. Based on one of the articles from 2013, Cassava, if used as bioplastic packaging, would provide a good opportunity for cassava producers and help increase the product price. For instance, Thailand has good potential for the bio-degradable plastic sector, where Cassava can be used as raw material. It is cheap and in large quantities in this country. If Cassava is used as feedstock for bioplastic production, its value increases by five times. These bags are 100% biodegradable and offer no harm to the environment. Making bags requires cassava starch as the main component, along with other products from renewable resources. These bags leave no toxic residues and ensure no damage to the waterways, land, oceans, etc. The improvement in the lifestyle of the people and rapid urbanization have led to this change in consumer preference and the use of biodegradable bags. Cassava bags can be broadly used for many applications like groceries, e-commerce delivery packing, retail items, garment wrapping, waste bags, etc.
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Key Findings
• In 2023, the conventional segment dominated the market with the largest market share of 78.45% and market revenue of USD 52.53 Million.
The type segment is divided into organic and conventional. In 2023, the conventional segment dominated the market with the largest market share of 78.45% and market revenue of USD 52.53 Million. Generally, conventional practices are used in cassava production, so conventional methods have the highest market share.
• In 2023, the food & beverage segment dominated the market with the largest market share of 62.31% and market revenue of USD 41.72 Million.
The application segment is divided into food & beverage, animal feed and others. In 2023, the food & beverage segment dominated the market with the largest market share of 62.31% and market revenue of USD 41.72 Million. It is attributed to its broad application in the food & beverage sector for packaging snacks, fresh produce and ready-to-eat products.
Regional Segment Analysis of the Cassava Bags Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global Cassava Bags industry, with a market share of 48.87% and a market value of around USD 32.72 Million in 2023. It is attributed to strict government regulations and growing consumer awareness towards the environment and sustainable products. It has been observed that in the region, most of the young population always looks for information about the brand's sustainable practices, which helps the consumer make buying decisions. Asia Pacific has the second-highest market share and the fastest-growing CAGR in the forecasting period. Indonesia, Thailand, China, and Vietnam are also the key cassava producers in the region. They also produce lightweight cassava bags, which they export worldwide.
Key players operating in the global Cassava Bags market are:
• Avani Eco Affinity Supply Co
• Biogreen Bags Co. Ltd
• Baolai Packaging Co., Ltd.
• Urban Plastik Indonesia
• Biopac India Co. Ltd
• SainBag No Plastic International Pty Ltd
• Envigreen Biotech India Pvt. Ltd
• Affinity Supply Co
• SandBag
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Cassava Bags market based on below mentioned segments:
Global Cassava Bags Market by Type:
• Organic
• Conventional
Global Cassava Bags Market by Application:
• Food & Beverage
• Animal Feed
• Others
About the report:
The global Cassava Bags market is analysed based on value (USD Million). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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