Foodservice Packaging Market is valued at USD 72.87 Billion in 2019 and expected to reach USD 104.73 Billion by 2025 with the CAGR of 5.33% over the forecast period.
Increasing demand for cost effective packaging solutions, rising preferences of consumers for convenience food and handy products, downsizing nature of packaging, rapid urbanisation, busy lifestyles that require quick & manageable packaging are the major factors for driving the growth of Global Foodservice Packaging Market.
Scope of Global Foodservice Packaging Market Report-
Food service packaging, also known as disposable food service products, has matured over time and includes a variety of packaging products such as bowls, plates, cups, flips, paper packaging, etc. The global food service market serves a wide range of complete food service industries, including offline and online food service stores, which serve a large number of people around the world. The choice of consumers has gradually gone from the traditional method of preparing food at home to the choice of purchasing packaged products. Food service packaging is made from recyclable materials, so it requires less resources and less energy; therefore, packaging and disposable packaging are inexpensive, and most importantly, their retail space is reduced by 35%, which makes it profitable. By creating more options for eye-catching graphics and ultimately increasing the marketing of the product, it also provides a perfect alternative to display. Opening food service packaging bags is easy because they are both rigid and flexible, making it easier to handle the products. Due to the busy lifestyle, the demand for convenience products has increased, resulting in an increased demand for flexible and rigid packaging. As a result, transportation and shipping costs for food service packaging are inexpensive. In addition, it reduces fuel consumption in transport.
Global Foodservice Packaging Market is segmented on the basis of material, type and application. On the basis of material, the market is segmented into plastic, aluminum, other metals. On the basis of application, market is segmented into fruits, vegetables, dairy, bakery, meat, poultry, alcohol, non- alcoholic beverage and others. On the basis of type, the market is segmented into paper packaging, flexible packaging, paperboard, rigid packaging and others.
The regions covered in this Foodservice Packaging market report are North America, Europe, Asia Pacific and rest of the World. On the basis of country level, market of Foodservice Packaging is subdivided into U.S., Mexico, Canada, U.K., Germany, France, Italy, China, Japan, South East Asia, Africa, etc.
Foodservice Packaging Companies:
Foodservice Packaging Market report covers major key players in the market like,
The Dow Chemical Company
International Paper Company
Vegware
Sabert Corp.
Union Packaging
Sealed Air Corp
Westrock Company
Ball Corp.
others
Global Foodservice Packaging Market Dynamics-
Increasing demand for cost effective packaging solutions, rising preferences of consumers for convenience food and handy products, growing trend of food takeaways, rapid urbanisation, busy lifestyles that require quick & manageable packaging are the major factors for driving the growth of Global Foodservice Packaging Market. As per the statistics from Environmental Protection Agency (EPA), the total generation of aluminium packaging was estimated to be around 1.9 million tons in 2017 and corrugated boxes occupy 12.2% of the total packaging production. Moreover, increase in world population that fuels a subsequent increase in the demand for food, rising culture of corporate work, better sustainability and downsizing of packaging, as well as reasonable costing and features like heat-resistance, anti-fogging and cold-resistance are other major factors driving the market growth. However, stringent government regulations over the use of aluminium foil and plastic packaging and difficult approval measures for food contact application by food authorities are some of the major factor that are expected to act as restraints for the market growth. There are increasing endeavours towards development of sustainable green packaging that does not cause any harm to environment and is easy to recycle too. Moreover, incorporation of new technologies and techniques to provide sustainability to the food packaging is another important factor. These are some of the major factors that are expected to offer propelling opportunities for the market growth.
North America is expected to remain a dominant region in the Global Foodservice Packaging Market.
North America is expected to remain the dominant region in the market with the largest market share of the Global Foodservice Packaging, due to the removal of regulations limiting the creation of new manufacturing units of packaging products. Moreover, the high disposable income accompanied with sedentary lifestyle of people that increase the demand for food takeaways and large consumption of fast food are also some other reasons for the dominance of North America. Asia Pacific is expected to grow at a fastest rate due to the high growth in the food and beverage industry, particularly in China and India. Due to the demographic population increment of the countries of this region and a large customer base of consumer goods and durable consumer goods, demand for packaged food, coupled with increased expenditure capacity for consumers, is expected to stimulate demand for Foodservice Packaging over the forecast period. As per the statistics from IBEF, India has a huge potential market for food products owing to its large population, growing at the rate of 1.7% per annum, this further stimulates the demand for Foodservice Packaging in the country. With the advent of hypermarkets and supermarkets, the expansion of the retail industry could support the entire industry. Moreover, with the recent outbreak of Covid-19, people are avoiding direct contact with restaurants and putting more thrust over online delivery system which is also expected to spur the market growth.
Key Benefits of Global Foodservice Packaging Market Report-
Global market report covers in depth historical and forecast analysis.
Global market research report provides detailed information about Market Introduction, Market Summary, Global Market Revenue (USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
Global Foodservice Packaging Market Segmentation: -
By Material: Plastic, Aluminum, Metals
By Type: Paper packaging, Flexible packaging, Paperboard, Rigid packaging
By Application: Fruits, Vegetables, Dairy, Bakery, Meat, Poultry, Alcoholic beverages, Non- alcoholic beverage
By Regional Analysis:
North America, Europe, Asia Pacific, Latin America, Middle East and Afric
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The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2026 and key prospects over the forecast period 2017-2026.The global food service packaging market is anticipated grow at a CAGR of 7.5% over the forecast period 2017-2026.
Extensive rounds of primary and a comprehensive secondary research have been leveraged by the analysts at Fact.MR to arrive at various estimations and projections of the food service packaging market, both at global and regional levels.
The analysts have used numerous industry-wide prominent business intelligence tools to consolidate facts, figures, and market data into revenue estimations and projections in the food service packaging market.
The food service packaging market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period.Key regions covered comprise: North America (Canada, US)Latin America (Argentina, Mexico)Europe (NORDIC, UK)APEJ (China, India)MEA and JapanAfter reading the food service packaging market report, readers get insight into:Major drivers and restraining factors, opportunities and challenges, and the competitive landscapeNew, promising avenues in key regionsNew revenue streams for all players in emerging marketsFocus and changing role of various regulatory agencies in bolstering new opportunities in various regionsDemand and uptake patterns in key industries of the food service packaging marketNew research and development projects in new technologies in key regional marketsChanging revenue share and size of key product segments during the forecast periodTechnologies and business models with disruptive potentialYou can Request an Example Copy from here - https://www.factmr.com/connectus/sample?flag=S_id=465To expand the understanding of opportunities in the global food service packaging market report looks at close quarters into the opportunities and new avenues in following key segments: Equipment TypeRegionEnd-UsersSales ChannelsIn addition to understanding the demand patterns of various end users, the report on the food service packaging market also enumerates trends expected to attract investments by other various associated industries.
Foodservice packaging has grown in the due course to comprise a broad variety of packaging products, for instance, wraps, clamshells, cups, plates, bowls and so forth.
The worldwide market food service assists the well-established and widespread sector of the food service, comprising of online as well as offline food service stores which are serving a vast amount of individuals worldwide.The global market for food service packaging is anticipated to registering a 5.3% CAGR during the forecast period.Market SegmentationThe global market on the basis of the product type is segmented into cups includes (paper(includes above 16 ounce, 8 to 16 ounce and up to 8 ounce), plastic(includes above 16 ounce, 8 to 16 ounce and up to 8 ounce), paper + plastic (includes above 16 ounce, 8 to 16 ounce and up to 8 ounce), bowls(includes paperboard, aluminum, plastic and molded fiber), pizza boxes (includes clay coated cardboard and corrugated paperboard), straws, single serve portion packs (includes plastic and paper), clamshells (includes plastic and paperboard), lids for cups (includes plastic and paper +plastic), stirrers and cutlery (knives, forks, spoons) (includes wood, plastic)), trays (includes paperboard, aluminum, plastic and molded fiber) and plates (includes paper(includes above 14 inch, 7 to 14 inch and up to 7 inch), plastic(includes above 14 inch, 7 to 14 inch and up to 7 inch), molded fiber(includes above 14 inch, 7 to 14 inch and up to 7 inch) and aluminum(includes above 14 inch, 7 to 14 inch and up to 7 inch)).
Request For Report Sample: https://www.researchreportinsights.com/report/sample/110114834/Food-Service-Packaging-Market The global market studied across the prominent regions includes Latin America, Asia Pacific excluding Japan, North America, Middle East & Africa and Europe.
The APAC region will be dominating the overall market due to the increasing quantity of food chains along with the rising disposable income of individuals in the region.The global market on the basis of the base material includes paperboard, aluminium, plastic (includes polystyrene, polyethylene, polypropylene, poly lactic acid and polyethylene terephthalate) and molded fibers.On the basis of the fabrication process, the global market includes die-cutting, thermoforming and injection molding.The worldwide market on the basis of the end use industry includes institutional food services, food service outlets and online food ordering.Key Market PlayersRequest For Reprot discount: https://www.researchreportinsights.com/report/discount/110114834/Food-Service-Packaging-Market The major market players operating in the worldwide market for foodservice packaging includeGeorgia-Pacific LLCDart Container CorporationPactiv LLCAnchor Packaging Inc.Gold Plast SPAD Fine PackDOpla S.p.A.Berry Global Group Inc.WestRock CompanySmurfit Kappa GroupNew WinCup Holdings, Inc.Huhtamäki OyjGraphic Packaging Holding CompanyLinpac Packaging LtdNovolex Holdings, Inc.Coveris Holdings S.A.Genpak, LLCBe Green PackagingSouthern Champion Tray, LPGRACZ, INC.OthersReport Analysis: https://www.researchreportinsights.com/report/rd/110114834/Food-Service-Packaging-Market
