Compostable Foodservice Packaging Market Insights, Deep Analysis of Key Vendor in the Industry

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.

Future Market Insights, in its new offering, outlines the growth trails of compostable foodservice packaging market for the period 2019 and 2029. According to the report, worldwide sales of compostable foodservice packaging reached approximately 6,400 thousand tons in 2018, equaling revenues worth US$ 16.7 Billion. As end users’ quest for sustainable packaging intensifies, manufacturers are likely to witness a period of sustained demand in the future.

Request Sample Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-3210

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

According to the study, the composite foodservice packaging market is estimated to grow at a CAGR of approximately 5% through 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.

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 –

  • 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

Growth prospects of the compostable foodservice packaging, as the report opines, are high in EU5 and the U.S. Greater awareness and easy access to innovative solutions along with favorable regulatory framework and higher availability of compost facilities in these regions have worked to the advantage of the stakeholders. In addition, market consolidation in Asia Pacific, particularly in the southern region, will remain a key to gaining distinct competitive advantage, as trends of eating out and online ordering have spiked across the region.

Ask Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-3210

The business intelligence report also offers an incisive outlook on competitive landscape by analyzing the key development strategies of the market players. According to the study, the market shows a high level of consolidation, with local and regional players catering to domestic and urgent demands, while leading players with strong regional presence account for relatively small share in the market.

About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
LinkedInTwitterBlogs

Leave a comment

Your email address will not be published. Required fields are marked *