Food Service Packaging Market 2019 Detailed Research on Market Size, Share | Revenue, Trends, Price, Gross Margin, Profit, and Forecast to 2024 | Industry Research.co – Financial Planning

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Food Service Packaging

“Food Service Packaging Market” report provides an in-depth research of market-based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Food Service Packaging Market is comprehensively prepared with main focus on the competitive landscape, geographical growth, segmentation, and market dynamics, including drivers, restraints, and opportunities. It also analyzes the current and future prospect of Food Service Packaging Market.

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Key Insights of Food Service Packaging Market:

  • Complete in-depth analysis of the Food Service Packaging
  • Important changes in market dynamics.
  • Segmentation analysis of the market.
  • Emerging segments and regional markets.
  • Historical, on-going, and projected market analysis based on volume and esteem.
  • Assessment of niche industry players.
  • Market share analysis.
  • Key strategies of major players

Market Overview:

  • The food service packaging market was estimated at USD 48.31 billion in 2018. This market is expected to reach USD 82.50 billion by 2024, at a CAGR of 10.14% during the forecast period (2019 – 2024). Owing to the rising demand for quick-service restaurants (QSR) coupled with consumer preferences for on-the-go consumption, and propelling e-commerce due to rise in delivery applications, the market for foodservice packaging is growing rapidly.
  • – Growth in urban population and the consequent increase in demand for processed and prepared food have a significant impact on the growth of the market. For Instance, in the United Kingdom, Just Eat plc reported that household expenditure on takeaways increased from GBP 10.1 billion in 2017 to GBP 10.4 billion in 2018 and is further expected to reach GBP 11.2 billion by 2021.
  • – Food service has grown to become a major part of consumer spending. As this trend increases, packaging plays a key role in ensuring food safety and providing convenience to consumers. For instance, proper package labeling allows food preparers to know the source of food, its proper holding temperature, and the adequate cooking needed.
  • – Increase in stringent rules and regulation from government adhering to quality standards is hindering the market growth.

    Food Service Packaging Market Segmentation by Top Key Players:

  • Amcor Limited
  • Sealed Air Corporation
  • International Paper Company
  • Berry Global, Inc.
  • Bemis Company Inc.
  • Sonoco Products Company
  • Huhtamäki Oyj
  • Graphic Packaging
  • WestRock Company

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    Scope of the Report:

  • The major packaging products in the food service industry are boxes, bags and wraps, bottles, and plastic containers which include cups, plastic bottles, trays. The other products included in the scope of the study are paper trays and films used as supportive packaging. Besides mentioned applications of these packaging products, other applications include frozen desserts and other food products.

    Key Market Trends:

    Plastic Containers to Account for a Significant Market Share

    – Demand for plastic packaging is growing at a rapid rate, because it is lightweight, microwaveable, and is available in various design options.
    – These products are gaining preference over glass bottles, jars, containers, and metal containers, owing to their multiple benefits.
    – Moreover, the recent trend and changing consumer preference for intelligent packaging solutions that can improve safety and convenience, extend product life shelf and monitor freshness, have also contributed to the growing demand for a single-sized plastic container.
    – Sustainable packaging is the need of the hour and with many new innovations like biodegradable plastic, bioplastic, that can mitigate environmental risk, the plastic market slowly gaining a little bit of traction.
    – Consumers will have increased value for recyclability and perceived “greenness” of packaging—at the same time, demand for proof of sustainability claims will grow exponentially.
    – Moreover, the market size of sustainable packaging along with incremental usage of paper, wood, glass, cotton, & others packaging material as sustainable packaging materials are changing the consumers buying habit that makes the environment eco – friendly.

    Asia-Pacific Accounts for the Largest Market Demand

    – Owing to the presence of densely populated and emerging economies such as Southeast Asian countries, China, and India, Asia-Pacific is expected to grow at the highest CAGR.
    – China accounts for the most significant share in the market, ahead of the United States, owing to its comparatively higher food and beverage consumption. The presence of a more dense population and a similar rise in the consumption of fast food is augmenting the growth of the market.
    – Moreover, in Australia, people spend nearly 32% of their household food budget on eating out and fast food, and the average fast food meal contains almost half of an adult’s recommended daily energy intake. Subway, KFC, Hungry Jack’s, Domino’s, Pizza Hut are some of the prominent QRSs in the country that is witnessing a rapid rise in their businesses.
    – Major Indian City’s, with urbanization and change in lifestyle, coping with fast-paced work life and dependence on online food platform for burning out their hunger are rapidly changing the dynamics of the foodservice industry.

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    Food Service Packaging Market Covers Following Points in TOC:

    • Chapter 1: Food Service Packaging Market Definition
    • Chapter 2: Research Methodology of Food Service Packaging Market
    • Chapter 3: Food Service Packaging Market Executive Summary
    • Chapter 4: Food Service Packaging Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
    • Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
    • Chapter 6: Food Service Packaging Market Segmentation by Types, End-User, and Applications Forecast to 2024
    • Chapter 7: Food Service Packaging Market Segmentation by Geographical Regions
    • Chapter 8: Competitive Landscape of Food Service Packaging Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
    • Chapter 9: Key Players for Food Service Packaging Market

     

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