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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.
Compared with 2018, over 75% of foodservice packaging manufacturers and suppliers expect volume expansion and more than 65% expect profit growth in 2019.
The Foodservice Packaging Institute, Fall Church, Va., released its 2019 State of the Industry Survey, which shows steady industry volume and profit growth continuing into the remainder of the year.
KFC, a Plano, Texas-based subsidiary of Yum! Brands, Inc., announced a new global sustainability commitment that all plastic-based, consumer-facing packaging will be recoverable or reusable by 2025.
From functional menu items to eco-friendly packaging, Technomic, Chicago, outlines a broader view of foodservice trends with regards to restaurant menus, service strategies and best practices in 2019.
The 10th annual Trends Report from the Foodservice Packaging Institute (FPI), Falls Church, Va., identified that the two greatest trends in foodservice packaging are the push-back on single-use products, regardless of material, and that delivery continues to be one of the biggest sales drivers for the foodservice industry.
Results of a 6-phase study confirmed that compostable foodservice packaging can be effectively used as a feedstock in commercial composting facilities.
Graphic Packaging Holding Co., Atlanta, announced that its subsidiary, Graphic Packaging International, LLC, announced plans to acquire the foodservice business of Letica Corp.
