The sustainable foodservice packaging market was valued at USD 62.46 billion in 2022, at a CAGR of 5.3% over the forecast period of 2022 – 2031. The increase in concern for environmental impacts caused by these plastic containers among the food service industries, which is leading to multiple companies use recycled materials for food services, will drive the market in the forecast period.
– The increase in the growth of the urban population has increased the demand for prepared and ready to eat food products, which has a significant impact demand of the foodservice packaging market, thus increasing the demand for sustainable foodservices packaging solutions, thus driving the market in the forecast period.
– Moreover, In the United Kingdom, Just Eat PLC reported that the household expenditure on takeaways increased from GBP 10.1 billion in 2017 to GBP 10.4 billion in 2018, and is further expected to reach GBP 11.2 billion by 2021.
– An increase in stringent rules and regulations from the governments for adhering to quality standards is hindering the market growth.
– For Instance, Winpak is continuously exhibiting its innovations. For example, they are incorporating more than 40% renewable energy in their manufacturing process of food packaging products. More than 40% of their rigid packaging is recyclable and reusable. More than 40% of their packaging converter films are already recycled before used in foodservice packaging.
– However, the high recycling cost for the materials used for the sustainable foodservice packaging might hinder the growth of the market.
Scope of the Report
Sustainable foodservice packaging is a packaging that uses renewable and recycled products for the food services, like corrugated boxes, plastic containers & trays, bags & wraps, and others, that have a low impact on both energy consumption and on the environment. The straightened government regulations for the use of sustainable food packaging to eliminate the contaminants and chemicals that destroy the water, soil, and atmosphere.
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Key Market Trends
Online Food Ordering Services will Drive the Market in the Forecast Period
– Factors such as rise in frequency of online food ordering and take away foodservice will drive the sustainable foodservice packaging market due to the massive use of the food packaging products like plastic containers and trays, corrugated boxes, and others.
– In the major regions, urbanization, changing in lifestyle, coping with fast-paced work life, and dependence on online food platforms are rapidly changing the dynamics of the foodservice industry, which in return has increased the demand for sustainable foodservice packaging solutions.
– Moreover, the recent trend and changing consumer preferences for intelligent packaging solutions that can improve safety and convenience, extend product life, and monitor freshness, have also contributed to the growing demand for sustainable food packaging solutions.
– The market size of sustainable packaging, as well as the incremental usage of paper, plastic, glass, metal and other packaging materials as sustainable packaging materials, are changing the consumers’ buying habits that make the environment eco-friendly.
Asia-Pacific Accounts for the Largest Market Share
– Owing to the presence of densely populated and emerging economies, such as Southeast Asian countries, China, and India, Asia-Pacific is expected to witness growth recording the highest CAGR.
– China accounts for the most significant share in the market, owing to its comparatively higher food consumption. The presence of a more dense population and a similar rise in the consumption of fast food delivery and take away service are augmenting the maturity of the which in return there has been a focus on sustainable foodservice packaging solutions that will drive the market in the forecast period.
– Moreover, in Australia, people spend nearly 32% of their household food budget on eating out and fast food, and the average fast food meal contains about half of an adult’s recommended daily energy intake. Subway, KFC, Hungry Jack’s, Domino’s, Pizza Hut are some of the prominent QRSs in the country that is witnessing rapid growth in food ordering and take away food service businesses, which in return has lead to the growth of sustainable foodservice packaging in the region.
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Competitive Landscape
The sustainable foodservice packaging is fragmented, as the major share of the market is still dominated by multiple major players. With new innovation in sustainable foodservice packaging and market demand, the market is being attractive for the new players. Some of the key players in the market are Amcor Limited, Sealed Air Corporation, International Paper, Berry Global Inc., Amcor ltd., WestRock Company, among others.
– April 2019 – Berry Global has announced its sustainability strategy through its initiative named Impact 2025. As part of their initiative, they will focus to further innovate the positive impact through their products, performance, and partners in the long term plan for the year 2025. Their major focus will be on optimizing product design, increasing recycled content as well as developing renewable materials, minimizing operational impacts, increasing renewable energy, expand the use of plastic in place of alternative materials, etc.
– April 2019 – Amcor launched Amite Ultra Recyclable, its first packaging product made from the company’s revolutionary and more sustainable high-barrier polyolefin film. It can reduce a pack’s carbon footprint by about 64%.
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