At 5.6% CAGR, the Asia Pacific compostable foodservice packaging market is projected to be worth US$ 9,488.83 million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific compostable foodservice packaging market was valued at US$ 6,834.02 million in 2022 and is expected to reach US$ 9,488.83 million by 2028, registering a CAGR of 5.6% from 2022 to 2028. Focus on sustainable packaging aims to creates opportunities and rising consumer demand for pre-packed food are the critical factors attributed to the Asia Pacific compostable foodservice packaging market expansion.

Packaging food materials ensure smooth logistics, also provides adequate product protection, A rising number of foodservice establishments that were traditionally considered dine-in eateries are now offering delivery and catering options to meet today’s on-the-go consumers' needs. Concurrently with increasing pressures on adopting sustainable materials and incorporating an effective food waste management program, compostable foodservice packaging has gained growing momentum in the industry. Moreover, the demand for high-value disposable items from quick-service restaurants (QSRs) to maintain food temperature and minimize leakage or spillage is likely to work in tandem with the rapid adoption of compostable foodservice packaging. Further, in the light of global efforts to replace unsustainable materials, research has also been undergoing the new forms of compostable packaging, including cups and straws designed from bowls, seaweed made of mushrooms, and others. While compostable foodservice cutlery, and utensils are good for the environment, they require a specific setting for breaking down. Also, organic recycling businesses have been facing several obstacles in ambiguous regulatory scenarios, performance capabilities, and cost factors, impeding widespread adoption of compostable foodservice packaging. Further, the limited availability of compost facilities in the low- and mid-income countries has added to the reluctance to incorporate compostable materials in foodservice packaging. Thus, focus on sustainable packaging aims to create opportunities in the compostable foodservice packing market in the upcoming year.  

On the contrary, high price of compostable materials for packaging hurdles the growth of Asia Pacific compostable foodservice packaging market.

Based on product, the Asia Pacific compostable foodservice packaging market is segmented into trays, cups and plates, cutlery, clamshell, bowls, pouches and sachets, and others. The cups and plates segment held 30.0% share of Asia Pacific compostable foodservice packaging market in 2022, amassing US$ 2,049.94 million. It is projected to garner US$ 2,897.70 million by 2028 to expand at 5.9% CAGR during 2022–2028.

Based on material, the Asia Pacific compostable foodservice packaging market is segmented into paper and paperboard, compostable plastic {bio-plastic}, and others. The compostable plastic segment held 72.0% share of Asia Pacific compostable foodservice packaging market in 2022, amassing US$ 4,917.39 million. It is projected to garner US$ 6,874.78 million by 2028 to expand at 5.7% CAGR during 2022–2028.  

Based on country, the Asia Pacific compostable foodservice packaging market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 50.2% share of Asia Pacific compostable foodservice packaging market in 2022. It was assessed at US$ 3,432.48 million in 2022 and is likely to hit US$ 4,894.87 million by 2028, exhibiting a CAGR of 6.1% during the forecast period.  

Key players profiles in the Asia Pacific compostable foodservice packaging market report Anchor Packaging Pty Ltd; BioBag Americas Inc; Graphic Packaging Holding Co; and WestRock Co, among others.

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