The growing awareness regarding clean and green environment and other major driving factors is expected to favor the rise in the global compostable foodservice packaging market
Reports and Insights has published a new report titled, “Compostable Foodservice Packaging Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Compostable Foodservice Packaging Market, 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), Paper & Paperboard (Coated Unbleached, Molded Fiber, Other Grades, Others)), By End Use (Chain Restaurants, Non-Chain Restaurants, Chain Café, Non-Chain Café, Delivery Catering, Independent Sellers/ Kiosks) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global compostable foodservice packaging market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ xx Bn by 2028 with a significant CAGR of xx%.
There were times the business would be minimally affected if it is not able to afford to be green and environment-friendly. Having said that, in present times, businesses have accepted that they would not afford to ignore it. It is due to the fact that the environment does make a difference to the customer. And what concerns the customer has the force to influence business’s profits and losses.
As a matter of fact, there are rising numbers of consumers who are looking for responsible products, services and businesses. Compostable food packaging can be basically understood as the packaging developed, disposed of and conked out in a way that is gentler to the environment in comparison to plastic.
The compostable foodservice packaging is manufactured from plant-based, recycled and reused substances and can be restored to earth safely and quickly as soil when disposed of in the appropriate environmental conditions. Some of the significant advantages of the compostable foodservice packaging to the environment is that it needs reduced carbon to manufacture, lessens the amounts of waste consigned to landfill and offers the earth with life-encouraging nutrients. Though compostable foodservice packaging is similar to other biodegradable packaging, there are few dissimilarities. The additional environmental benefit ‘compostable’ has over conventional ‘biodegradable’ packaging products is one has an assurance that the substances utilized do not generate toxins as they worsen and deteriorate. To put it differently, compostable products can offer the earth with healthy supplements and nutrients once they are completely used up.
The growing acceptance and demand of sustainable materials is majorly projected to boost the growth of the global compostable foodservice packaging market in the following years. By the same token, the rising emphasis on eco-friendly packaging as well as increasing concerns over the usage of plastic and its environmental consequences have been trending in the food & beverages industry, all across the world, is further playing a positive role in propelling the market growth over the future years.
Reports and Insights Study identifies some of the key participating players in the compostable foodservice packaging market globally are 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, Verterra Ltd., among others.
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