SkyQuest projects that the sugarcane bagasse market will attain a value of USD 1211 million by 2030, with a CAGR of 4.5% over the forecast period (2023-2030). In recent years, significant advancements have been made in exploring new and improved sugarcane bagasse applications, particularly in materials. One noteworthy development is using bagasse as a highly effective soil conditioner, enhancing sugarcane plants' production and overall health in the sugarcane bagasse market.
Westford, USA, Aug. 08, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, storing significant amounts of bagasse for long-term off-season power generation presents unique challenges that differ from small-scale or large-scale wet storage for pulp and paper production. These challenges include the loss of fuel value, spontaneous combustion risks, bagasse handling issues, and various health and environmental consequences in the sugarcane bagasse market. Double Wall Pe Coated Paper Roll
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Sugarcane bagasse (SCB) is a highly abundant agricultural residue, with an annual production of approximately 100 million tons in India alone. Although its current utilization is primarily focused on the cogeneration of steam and power. Moreover, with the decline in electricity prices and global sugar prices owing to surplus sugar stock, it is becoming increasingly necessary to find sustainable ways to generate revenue from the waste produced by sugar mills, namely SCB in the sugarcane bagasse market.
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Prominent Players in Sugarcane Bagasse Market
Guangxi Guitang Group Co., Ltd.
Bio Pappel SAB de CV
Paper Excellence Canada Holdings Corporation
Thai Roong Ruang Sugar Group Co., Ltd.
Mitr Phol Bio-Fuel Company Limited
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Energy Segment is Expected to Grow the Market Due to Rising Fuel to Fulfill the Energy Requirements
Global sugarcane bagasse market is predominantly influenced by the energy sector, where bagasse is primarily used as a fuel to fulfil the energy requirements of the sugarcane bagasse market. However, there is a surplus of bagasse that holds potential for diversification into various other applications. One such opportunity lies in synthesizing single-cell protein, which can serve as a valuable nutritional source in animal feed and other food products.
The markets in Latin America are poised to experience substantial growth in the sugarcane bagasse market during the forecast period. Traditionally, the most common application of bagasse has been its combustion or incineration in a boiler for steam generation, particularly in cogeneration systems that produce steam and electricity. This approach enables the efficient delivery of heat and electricity to support the sugar and ethanol production processes. Moreover, surplus energy can be exported to the grid, maximizing the economic benefits of bagasse utilization.
Indirect Sales Segment is Expected to Dominate the Market Due to Facilitating the Distribution and Sale of Bagasse
Indirect sales segment plays a crucial role in the sugarcane bagasse market by facilitating the distribution and sale of bagasse through intermediaries such as wholesalers, distributors, and retailers. In addition, these intermediaries serve as vital links connecting bagasse producers with the end consumers or industries that utilize bagasse for various applications.
Regional markets in the Asia Pacific region are anticipated to witness rapid development in the sugarcane bagasse market, with India holding a dominant position in sugarcane production. The increasing consumption patterns and evolving lifestyles worldwide are expected to drive the industry's growth throughout the forecast period significantly.
A comprehensive analysis of the major players in the sugarcane bagasse market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Sugarcane Bagasse Market
The Good Plate Company introduced a new product line featuring bagasse cups made from sugarcane recently. These cups, available in an 8oz size, offer a sustainable and environmentally friendly solution for beverage distribution. Crafted entirely from bagasse, the cups are 100% compostable and biodegradable, aligning with the principles of a circular economy.
Key Questions Answered in Sugarcane Bagasse Market Report
What specific growth drivers are projected to impact the market during the forecast period?
List the top companies in the market and explain how they have achieved their positions of influence.
In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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