This report on Food Service Packaging Market mentions the latest trends, growth prospects and global forecast for the upcoming years. The report also covers the market size, share, industry opportunities and consumption data. The financial analysis, new products launch and other latest development of the top Food Service Packaging market players help in assessing the competitive scenario of the industry.
The broad food service packaging market has been sub-grouped into the material, type, and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
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By Material
- Plastic
- Metal
- Others
By Type
- Paper & Paperboard
- Flexible Plastic
- Rigid Plastic
- Beverage Cans
- Others
By Application
- Meat & Poultry Products
- Dairy Products
- Beverages
- Fruits & Vegetables
- Bakery & Confectionery
- Others
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The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the food service packaging market includes D&W Fine Pack LLC, Genpak LLC, Gold Plast SPA, Golden Box Ltd., Huhtamaki Oyj, Klockner Pentaplast, Pactiv LLC, Smurfit Kappa Group, Stanpac Inc., and WestRock Company. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for food service packaging in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
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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.
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.
On the basis of application, market is segmented into fruits, vegetables, dairy, bakery, meat, poultry, alcohol, non- alcoholic beverage and others.
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.
There are increasing endeavours towards development of sustainable green packaging that does not cause any harm to environment and is easy to recycle too.
