FMI Research released the research report of Global Compostable Foodservice Packaging Market Size, Share, Industry Trends, Demand Analysis Report, offers a detailed overview of the factors influencing the global business scope. Global Compostable Foodservice Packaging Market research report shows the latest market insights with upcoming trends and breakdown of the products and services.
The global sales of compostable foodservice packaging is estimated at US$ 19.9 Bn in 2022 and is projected to reach US$ 28.8 Bn by 2029, with a CAGR of 5.5% between 2022 to 2029.One of the key growth drivers is a notable spike in the number of quick service restaurants (QSRs), especially in developing countries, which align with todays’ convenience and on-the-go culture. In addition, surging adoption of foodservice disposables, in the view of an increase in the demand for pre-packed food, has been preparing the grounds for compostable foodservice packaging penetration.
Request Sample Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-3210
Expansion of foodservice industry, along with the emergence of ‘takeaway’ and ‘grab-and-go’ services will continue to provide potential growth prospects of the market. However, the price of producing compostable materials for packaging continues to be higher than the conventional variants which is likely to represent a threat to the growth of the compostable foodservice packaging market.
Technological innovations are being made to reduce the price of compostable foodservice packaging, and FMI’s study assesses that the global efforts to become a more sustainable society will be instrumental in creating new growth opportunities for the market vendors.
Trays Continue to Gain Preference Over Other Packaging Format
The study finds that compostable trays continue to account for relatively large share of manufacturers’ bottom lines, while more focus has been placed on increasing the production of compostable cups, as the category is witnessing rising demand from a multitude of end-use sectors. As the search for sustainable solutions scales up, companies operating in packaging industry are starting to launch a number of products made entirely from plant-based materials including mushroom roots, bagasse, seaweed, and starch derived from maize.
As per the study, the wave of ‘customization’ is also approaching in the compostable foodservice packaging space. To fulfill the individual packaging needs while promoting sustainability, manufacturers are targeted towards offering custom products of all sizes, ensuring food safety and minimizing leakage.
Demand from non-chain restaurants continues to influence growth strategies, and as identified by the FMI’s study, market stakeholders are tapping into opportunities in chain café and independent foodservice operators. Rapid expansion of international chain café in developing countries along with growing consumer preference to eat out, especially from food trucks and street stalls, is also likely to work well with the manufacturers’ growth strategies.
Top Key Players Covered in Compostable Foodservice Packaging Market Report-
- Huhtamaki Oyj,
- WestRock Company,
- Stora Enso,
- Georgia Pacific LLC,
- Be Green Packaging
- Berry Global, Inc.
- Pactiv LLC
- TIPA Compostable Packaging
- Genpak, LLC.
- Virosac S.r.l.
- Lollicup USA
- Clearwater Paper Corporation
- Kruger Inc.
- Vegware Ltd.
- Biopac (UK) Ltd.
- Ultra Green Packaging. Inc.
- Eco Products Inc.
- Sabert Corporation
- Fabri Kal
- Verteraa Ltd.
Request TOC @ https://www.futuremarketinsights.com/toc/rep-gb-3210
Compostable Foodservice Packaging Market by Category
By Packaging Type:
- Plates
- Trays
- Bowls
- Cups
- Clamshell
- Cutlery
- Pouches & Sachets
- Others
By Material Type:
- Plastic
- Polylactic Acid (PLA)
- Polyhydroxyalkanoate (PHA)
- Polybutylene Succinate (PBS)
- Polybutylene Adipate Terephthalate (PBAT)
- Starch Blends
- Others
By End Use:
- Chain Restaurants
- Non-Chain Restaurants
- Chain Café
- Non-Chain Café
- Delivery Catering
- Independent Sellers/ Kiosks
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Major highlights of the Compostable Foodservice Packaging Market report:
- All-inclusive evaluation of the parent Compostable Foodservice Packaging Market
- Evolution of significant market aspects
- Industry-wide investigation of market segments
- Assessment of market value and volume in past, present, and forecast years
- Evaluation of Compostable Foodservice Packaging Market share
- Study of niche industrial sectors
- Tactical approaches of Compostable Foodservice Packaging Market leaders
- Lucrative strategies to help companies strengthen their position in the market
Related Links-
https://acatpg.mn.co/posts/23671640
https://acatpg.mn.co/posts/23672496
https://acatpg.mn.co/posts/23673993
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
Contact:
Future Market Insights,
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com