The report provides an overview of the Food Service Packaging Market industry including definitions, division, key vendors, key Development and market challenges. The Food Service Packaging Market analysis is provided the international markets including development trends, competitive landscape analysis, and key regions development status
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Through the statistical analysis, the report depicts the global Food Service Packaging Market including capacity, production, production value, cost/profit, supply/demand and import/export. The entire market is further distributed by company, by country, and by application/type for the competitive landscape analysis.
Key Vendors of Food Service Packaging Market: – Amcor Limited, Sealed Air Corporation, International Paper Company, Berry Global, Inc., Bemis Company Inc., Sonoco Products Company, Huhtamäki Oyj, Graphic Packaging, WestRock Company Others…
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.
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.
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The Food Service Packaging Market report also presents the vendor countryside and a corresponding detailed analysis of the major vendors operating in the market. Food Service Packaging Market report analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios.
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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Detailed TOC of Global Food Service Packaging Market – Growth, Trends, Forecast and Challenges (2018 – 2023)
1. Introduction
1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Modelling
3. Executive Summary
4. Market Overview and Trends of Food Service Packaging Market
4.1 Introduction
4.2 Market Trends
4.3 Porter’s Five Force Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the Industry
5. Market Dynamics of Food Service Packaging Market
5.1 Drivers
5.1.1 Increasing Production
5.1.2 Rising Demand
5.2 Restraints
5.3 Opportunities
6. Global Food Service Packaging Market Segmentation, By Capacity
7. Global Food Service Packaging Market Segmentation, By Material Type
7.1 Type 1
7.2 Type 2
7.3 Type 3
8. Global Food Service Packaging Market Segmentation, Segmented by Region
8.1 North America
8.1.1 United States
8.1.2 Canada
8.1.3 Rest of North America
8.2 Asia-Pacific
8.2.1 China
8.2.2 Japan
8.2.3 India
8.2.4 Rest of Asia-Pacific
8.3 Europe
8.3.1 United Kingdom
8.3.2 Germany
8.3.3 France
8.3.4 Russia
8.3.5 Rest of Europe
8.4 Rest of the World
8.4.1 Brazil
8.4.2 South Africa
8.4.3 Others
9. Competitive Landscape and Introduction of Food Service Packaging Market
9.1 Introduction
9.2 Market Share Analysis
9.3 Developments of Key Players
10. Key Vendor Analysis (Overview, Products & Services, Strategies)
10.1 Company 1
10.2 Company 2
10.3 Company
11. Disclaimer
And Many More….
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