Food Wrap Market Strengthens Through Development of Compostable Film Technologies
The global food wrap market size was estimated at USD 5.15 billion in 2023 and is projected to reach USD 8.45 billion by 2030, expanding at a CAGR of 7.5% from 2024 to 2030. This growth is primarily driven by increasing consumer demand for convenience, sustainability, and food safety. In addition, heightened awareness regarding eco-friendly packaging, the rapidly expanding online food delivery industry, and continuous advancements in materials that help extend shelf life are playing a vital role in propelling the market forward. A major contributor to the market’s growth is the rising trend of on-the-go food consumption, which has fueled the expansion of food trucks. These mobile food vendors are gaining popularity due to the convenience, variety, and affordability they offer. As consumers increasingly opt for portable meals, the demand for food wrap materials such as paper, aluminum foil, and plastic has surged. These materials are essential for maintaining food fr...