Study: Compostable foodservice packaging sales to grow as sustainability drives rapid adoption
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.
Worldwide sales of compostable foodservice packaging reached approximately 6,400 tons in 2018, equaling revenues worth $16.7 million, according to a report published by Future Market Insights, Valley Cottage, N.Y. 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.