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.
Ongoing Developments in Sustainable Packaging
According to our latest market study on “Compostable Foodservice Packaging Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Trays, Cups and Plates, Cutlery, Clamshell, Bowls, Pouches and Sachets, and Others) and Material [Paper and Paperboard, Compostable Plastic (Bio-Plastic), and Others],” the compostable foodservice packaging market was valued at US$ 17,291.24 million in 2022 and is projected to reach US$ 23,272.61 million by 2028; it is expected to register a CAGR of 5.1% from 2022 to 2028. The report highlights key factors driving the market and prominent players along with their developments in the market.
Global Compostable Foodservice Packaging Market Breakdown – by Region
Compostable Foodservice Packaging Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Trays, Cups and Plates, Cutlery, Clamshell, Bowls, Pouches and Sachets, and Others) and Material [Paper and Paperboard, Compostable Plastic (Bio-Plastic), and Others]
Compostable Foodservice Packaging Market Analysis to 2028
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A rising number of foodservice establishments that were traditionally considered dine-in eateries are now offering delivery and catering options to meet today’s on-the-go consumers' needs. Concurrently, with increasing pressures on adopting sustainable materials and incorporating an effective food waste management program, compostable foodservice packaging has gained momentum in the industry. Moreover, the demand for high-value disposable items from quick-service restaurants (QSRs) to maintain food temperature and minimize leakage or spillage is likely to work in tandem with the rapid adoption of compostable foodservice packaging.
Genpak, LLC; Good Start Packaging; Dart Container Corporation, Graphic Packaging International, LLC; WestRock Company; Be Green Packaging; Pactiv LLC; Anchor Packaging; Biogas Americas Inc.; and ECO PRODUCTS INC. are among the major players operating in the global compostable foodservice packaging market. Players operating in the global compostable foodservice packaging market are highly focused on developing high-quality and innovative product offerings to fulfill the customer’s requirements.
Impact of COVID-19 Pandemic on Compostable Foodservice Packaging Market
Due to the COVID-19 pandemic, many industries, including chemicals & materials, food, and agriculture, faced unprecedented challenges due to disruptions in the global supply chain that adversely affected the manufacturing, delivery schedules, and sales of various goods. The market size for compostable foodservice packaging decreased due to a decline in the growth of biodegradable packaging materials. Many production sites were either partially or fully closed to combat the spread of SARS-CoV-2. The COVID-19 pandemic also caused fluctuations in the prices of compostable foodservice packaging products. However, as the economies started reviving their operations, the demand for compostable foodservice packaging also began to rise globally. The demand for compostable foodservice packaging is rapidly increasing, backed by the recovery of the food & hotel industry. The increasing use of sustainable packaging is expected to offer more growth opportunities for the global compostable foodservice packaging market during the forecast period.
The report includes the segmentation of the global compostable foodservice packaging market as follows:
By product type, the global compostable foodservice packaging market is segmented into trays, cups and plates, cutlery, clamshell, bowls, pouches and sachets, and others. Based on material, the global compostable foodservice packaging market is segmented into paper and paperboard, compostable plastic (bio-plastic), and others. By geography, the global compostable foodservice packaging market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The compostable foodservice packaging market in North America is further segmented into the US, Canada, and Mexico. The compostable foodservice packaging market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The compostable foodservice packaging market in Asia Pacific is segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The compostable foodservice packaging market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America.
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