Compostable food service packaging market share was valued at USD 17.90 billion in 2022 and is expected to increase at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2030, when it is expected to reach USD 25.65 billion.
Food service packaging that decomposes into natural elements via composting procedures is referred to as compostable packaging. Because they are eco-friendly and may cut down on waste, these materials are becoming increasingly popular in the food service sector.
Over the course of the projection period, there will likely be a significant increase in the market for compostable food service packaging. Many reasons have contributed to this rise, such as growing consumer awareness of environmental sustainability, strict laws encouraging the use of environmentally friendly packaging materials, and the rising demand for convenient and sustainable packaging solutions in the food service sector.
Furthermore, the growing emphasis on reducing plastic waste and the negative impact of non-biodegradable packaging materials on the environment are driving the adoption of compostable food service packaging. This trend is particularly prominent in developed regions where consumers are increasingly conscious of their ecological footprint.
In terms of market segmentation, the compostable food service packaging market can be categorized based on product type, end-use industry, and geography. Product types include biodegradable bags, trays, containers, cups, and cutlery, among others. The end-use industries encompass restaurants, cafes, fast-food chains, catering services, and institutional food services.
Geographically, North America and Europe are expected to dominate the compostable food service packaging market due to the presence of stringent regulations and a high level of environmental consciousness among consumers. However, the Asia Pacific region is anticipated to witness significant growth during the forecast period, driven by the increasing adoption of sustainable packaging practices and the rapid expansion of the food service industry in emerging economies.
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KEY MARKET SEGMENTATION
By Material
· Plastic
· Paper
· Bagasse Seaweed
By Packaging Type
· Bowls
· Cutlery
· Plates
· Cups
· Trays
· Clamshell
· Pouches Sachets
· Others
By End Use
· Chain Caf
· Non-Chain Caf
· Chain Restaurants
· Non-Chain Restaurants
· Independent Sellers
· Delivery Catering
· Others
Key Players
Some major key players in the Compostable Food Service Packaging market areMondi Group, Berry Global Group, Biopac, Fabrical, Smurfit Kappa Group plc, Westrock Company, Huhtamaki Oyj, Clear Water Paper Corporation, Ultra Green Packaging Inc, Georgia Pacific LLCand other players.
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