Compostable Food Service Packaging Market Is Set to Experience Revolutionary Growth by 2031

Worldwide sales of compostable food service packaging, 2018 reached about 6.4 million tons to just below . This is equivalent to sales of US $ 16.7 billion . As end-users' quest for sustainable packaging grows, manufacturers may witness a period of sustainable demand in the future.

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With the advent of "take-out" and "grab and go" services, the expansion of the food service industry will continue to provide the market with potential growth prospects. However, the price of producing compostable materials for packaging remains higher than traditional variants, which can pose a threat to the growth of the compostable food service packaging market.

Tray will continue to take precedence over other package formats

Studies show that the combined food service packaging market is estimated to grow at a CAGR of approximately 5% by 2029 . One of the major growth drivers is the significant surge in the number of fast service restaurants (QSRs), especially in developing countries. This is in line with the convenience and culture of today's on-the-go. In addition, the increasing adoption of food service disposables in light of the growing demand for prepacked foods provides the basis for the widespread use of compostable food service packages.

Key segment-
By packaging type:
plate
tray
bowl
cup
Clamshell
cutlery
Pouch & sachet
others

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By material:
plastic
PLA
Step
PBS
PBAT
Starch blend
others

Paper and paperboard
Coated unbleached
Molded fiber
Other grades
others

End-use:
Chain restaurant
Non-chain restaurant
Chain cafe
Non-chain cafe
Delivery catering
Independent stalls and kiosks
others

Studies show that compostable trays continue to account for a relatively large percentage of manufacturers' revenues, but there is a compostable cup as demand from many end-use sectors increases in this category. The focus is on increasing production. As the search for sustainable solutions expands, companies operating in the packaging industry launch many products made entirely from plant-based materials, such as mushroom roots, bagasse, seaweed, and corn-derived starch. doing. I'm starting it.

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As the report states, the growth prospects for compostable food service packages are high in EU5 and the United States. .. Moreover, market integration in the Asia-Pacific region, especially in the South, continues to be the key to gaining a clear competitive advantage as the trend for eating out and online ordering is skyrocketing across the region.

Mr. Debashish Roy
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
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This release was published on openPR.