Compostable Foodservice Packaging Market Competitive Analysis By 2029

Compostable Foodservice Packaging Market Competitive Analysis By 2029 | Huhtamaki Oyj, WestRock Company, Stora Enso, Georgia Pacific LLC, Be Green Packaging

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.

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.

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.

Request Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-3210

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.

For Information On The Research Approach Used In The Report, 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.

Explore FMI’s Extensive ongoing Coverage on Packaging  

Next Generation Packaging Market The global next generation packaging market would witness a leap of growth at a CAGR of 6.1% between 2022 and 2032, reaching US$ 49.3 Bn between2022 and 2032.
 

Elastic Laminates Market  The global elastic laminates market is slated to grow on a remarkable note between 2022 and 2028 at a CAGR of 5.4%, reaching US$ 8.4 Bn by the year 2028.

Synthetic Paper Market  The global synthetic paper market is expected to go the linear transition way, i.e. reach US$ 1,287.3 Mn by the year 2030 at a CAGR of 3.7% between 2022 and 2030.

About Us 

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

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

LinkedIn|Twitter|Blogs 

For Sales Enquiries:sales@futuremarketinsights.com 
For Media Enquiries:press@futuremarketinsights.com 
Website:https://www.futuremarketinsights.com 

Report : https://www.futuremarketinsights.com/reports/compostable-foodservice-packaging-market

Press Release : https://www.futuremarketinsights.com/press-release/compostable-foodservice-packaging-market

© Scoop Media