Vegware, the Scottish- and U.S.-based compostable foodservice packaging company, has released first-ever sustainability report. 

Highlights performance and areas for improvement.

The global biodegradable packaging market is expected to reach USD 21.60 billion by 2026 according to a new study published by Polaris Market Research.

Eight-six percent of those 45 and under mentioned to be willing to pay more for sustainable packaging and 74% of consumers said they would be interested in buying products that come in refillable packaging. 

Sustainability highlights include achieving a platinum EcoVadis sustainability rating.

Sustainable packaging is no longer a nice-to-have, but an essential part of doing business. 

New investment will help upgrade recycling infrastructure in the U.S. to increase access to recovered packaging materials.

More than half of the consumers worldwide take sustainable packaging into consideration before buying a product. 

In the report, PepsiCo says it is continuing efforts to help build a world where packaging never becomes waste, including offering products made from 100% rPET in 22 markets worldwide. 

The growth is primarily driven by a focus on sustainable packaging, according to a report released by Future Market Insights.