Compostable Foodservice Packaging Market Will Generate New Growth Opportunities in Upcoming Year 2028

The "Compostable Foodservice Packaging Market" size is expected to grow from US$ 17,291.24 million in 2022 to US$ 23,272.61 million by 2028; it is estimated to register a CAGR of 5.1% from 2022 to 2028.

The global trend of foodservice packaging and pre-packed food has increased plastic production. Hence, a massive number of retailers and foodservice industries are concentrating on environmentally compatible packaging. Consumer preference for ready-to-eat food and takeaway is rising due to changing lifestyles, increasing disposable incomes, and rapid urbanization, mainly in emerging economies. More consumer trends are also guided by the desire for more portions, personal choices, variety, and shelf life.

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Companies Profiled in this report includes:

• Genpak LLC
• Good Start Packaging
• Dart Container Corporation
• Graphic Packaging International LLC
• WestRock Company
• Be Green Packaging
• Pactiv LLC
• Anchor Packaging
• Biobag Americas Inc
• ECO PRODUCTS INC

According to a study by the United States Department of Agriculture, the time limitations due to hectic work life shift consumer demand from grocery stores to pre-packed food or ready-to-eat food. Additionally, commercial restaurants and cafes have emerged as convenient places for teenagers, families, and young professionals to socialize and relax, thus, catalyzing the growth of the foodservice industry.

Based on material, the compostable foodservice packaging market is segmented into paper and paperboard, compostable plastic (bioplastic), and others. The compostable plastic (bio-plastic) segment held the largest share in 2022 and is expected to register the highest CAGR from 2022 to 2028. The paper and paperboard segment is another attractive segment of the market. Paper sees renewed interest as a packaging alternative, especially in the foodservice markets. The demand for paper and paperboard has increased with the growing concept of recyclability and sustainability. The use of paper-based packaging helps effectively renew, recycle, and compost the material, along with adding value to the product in the rising eco-conscious consumer market. The paper also provides an excellent printing substrate with the potential for high-quality graphics to communicate brand values (and sustainability credentials) virtually in terms of shelf appeal.

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Compostable Foodservice Packaging Market Segmentation:

By Product Type:
• Trays
• Cups and Plates
• Cutlery
• Clamshell
• Bowls
• Pouches and Sachets

By Material:
• Paper and Paperboard
• Compostable Plastic (Bio-Plastic)

The overall compostable foodservice packaging market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants in this process include VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the compostable foodservice packaging market.

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