Growth and Future Outlook of the Cassava-Based Packaging Market (2023 – 2032)
The global market for cassava-based packaging is expected to expand significantly, growing from USD 1.84 billion in 2022 to an estimated USD 3.50 billion by 2032. This growth reflects a compound annual growth rate (CAGR) of 6.7% from 2023 to 2032.
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Cassava-Based Packaging Market Trends
Sustainability and Eco-Friendliness: The demand for sustainable packaging solutions is driving the growth of the cassava-based packaging market. Cassava offers a biodegradable alternative to plastic, reducing reliance on fossil fuels and minimizing environmental impact.
Bio-Based Materials: Cassava-based materials are emerging as a next-generation, eco-friendly option for packaging. Cassava starch can be converted into bio-plastics that are compostable, renewable, and biodegradable, making it an attractive alternative to traditional plastics.
Versatility and Flexibility: Cassava-based packaging is highly versatile, allowing manufacturers to create a wide range of products, including films, bags, trays, and containers. These materials are flexible, durable, and offer excellent barrier properties, making them suitable for various packaging needs.
Growing Consumer Awareness: Increasing awareness of environmental issues has led to a rise in consumer demand for sustainable products, including cassava-based packaging. More people are choosing eco-friendly alternatives as they become more concerned about sustainability.
Growth of Cassava-Based Packaging in North America
The cassava-based packaging market is experiencing significant growth in North America, driven by government bans on harmful packaging materials. As environmental concerns grow and the negative impact of plastic on ecosystems becomes more apparent, governments are regulating the use of non-degradable packaging. This has created strong demand for sustainable alternatives like cassava-based packaging.
North American consumers are also increasingly interested in eco-friendly products. As concerns about the environment rise, there is a growing preference for products that have a smaller ecological footprint, including packaging. Cassava-based packaging, which is biodegradable and compostable, appeals to environmentally-conscious shoppers.
Technological innovations are also fueling the growth of the industry. Advances in manufacturing processes have made cassava-based packaging more affordable and accessible, meeting the specific needs of businesses. The combination of government regulations, consumer demand, and technological progress has significantly boosted the market for sustainable packaging solutions in North America.
Example:
In October 2022, Cargill expanded its sweetener plant in Cikande, Indonesia, adding new processing lines to double the company’s production capacity of organic, non-GMO tapioca syrup.
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