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Compostable Foodservice Packaging Market Size
- Report ID: GMI6297
- Published Date: Jul 2023
- Report Format: PDF
Compostable Foodservice Packaging Market Size
Compostable Foodservice Packaging Market size reached USD 17.8 billion in 2022 and is anticipated to record 5% CAGR from 2023 to 2032. The surging levels of environmental concerns coupled with the rising greenhouse gas emissions on account of improper packaging practices will drive the industry growth. As per Climate Collaborative, packaging, on average, records 5% of the energy used in a food product life cycle, in turn, marking a significant source of greenhouse gas emissions.
The production of packaging materials, specifically sourced from fossil fuels gives rise to greenhouse gases, leading to climate changes and global warming. The improper disposal of packaging wastes also makes way for littering and land pollution, further degrading the ecosystems and harming wildlife. To that end, the growing focus of several food & beverage companies on adopting sustainable packaging solutions, including compostable, biodegradable, and recyclable materials for reducing the environmental impacts will define the market trends.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Compostable Foodservice Packaging Market Size in 2022: | USD 17.8 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5% |
| 2032 Value Projection: | USD 29.1 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 243 |
| Segments covered: | By Packaging Type, By Material, By End use, By Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Compostable Foodservice Packaging Market Scope
