At 5.1% CAGR, the Europe compostable foodservice packaging market is projected to be worth US$ 5,882.33 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe compostable foodservice packaging market was valued at US$ 4,359.96 million in 2022 and is expected to reach US$ 5,882.33 million by 2028, registering a CAGR of 5.1% from 2022 to 2028. Growing demand for foodservice industry and advancement and development in the packaging industry are the critical factors attributed to the Europe compostable foodservice packaging market expansion.

The foodservice industry is anticipated to grow during the forecast period due to the improvements in the economic conditions of several countries rapid urbanization, and fast-paced lifestyles. The ‘on-the-go’ meal trend is increasingly rising across the several countries. The compostable foodservice packaging growth is driven by the expansion in quick-service restaurants that rely massively on compostable foodservice packaging. A rise in consumers who prefer to order food online has increased drastically owing to the growing working population, and their hectic work schedules. In the case of pizza, the home delivery system has been another primary driver for the industry. Online platforms to order food for delivery have been successful concepts due to the ease of choosing food items and convenient payment procedures. Rising demand for customization and innovation in food menu options is among the key factors driving the global foodservice industry. Consumers are provided with various alternatives to customize their meals according to their taste, dietary, and budget preferences. Millennials and working professionals are the key target consumers for the market due to their increasing importance for hassle-free, nutritious, and hygienic food availability. Further, commercial restaurants and cafes have emerged as a convenient place for teenagers, families, and young professionals to socialize and relax, thus catalyzing the growth of the foodservice industry. Moreover, the development of e-commerce/online platforms and ‘on-the-go’ food services coupled with innovations in packaging, the introduction of low-fat beverages, gluten-free products, etc., are also contributing significantly to the growth of the foodservice industry. Moreover, factors such as a rising number of working women, reduced preparing home-cooked meals, increasing disposable incomes, improving distribution channels, etc., are also driving the growth of the market.  

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

Based on product, the Europe 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 28.1% share of Europe compostable foodservice packaging market in 2022, amassing US$ 1,224.08 million. It is projected to garner US$ 1,688.62 million by 2028 to expand at 5.5% CAGR during 2022–2028.

Based on material, the Europe compostable foodservice packaging market is segmented into paper and paperboard, compostable plastic {bio-plastic}, and others. The compostable plastic segment held 66.4% share of Europe compostable foodservice packaging market in 2022, amassing US$ 2,894.93 million. It is projected to garner US$ 3,941.49 million by 2028 to expand at 5.3% CAGR during 2022–2028.  

Based on country, the Europe compostable foodservice packaging market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 26.1% share of Europe compostable foodservice packaging market in 2022. It was assessed at US$ 1,137.23 million in 2022 and is likely to hit US$ 1,504.09 million by 2028, exhibiting a CAGR of 4.8% during the forecast period.  

Key players profiles in the Europe compostable foodservice packaging market report Anchor Packaging Pty Ltd; BioBag Americas Inc; Dart Container Corp; Graphic Packaging Holding Co; Pactiv LLC; and WestRock Co, among others.

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