Global Food Service Packaging Market : Industry Analysis and Forecast (2018-2026)
Global Food Service Packaging Market was valued US$ 62.01 Bn in 2018 and is expected to reach US$ 97.2Bn by 2026, at a CAGR of 5.12% during a forecast period.
Growing consumption of pre-packaged food is one of the key factors predicted to drive growth of the global market. In addition, growing inclination of the working population towards on-the-go food consumption is another factor expected to support the future market growth. An increasing number of food service providers including retail food outlets, pizza chains, takeaway restaurants, and online food suppliers are factors projected to create huge demand for food service packaging items such as containers, paper boxes, canes, etc. for packaging, which is a factor expected to augment growth of the global food service packaging market. Availability of these packaging items in various shapes, sizes and varieties and increasing general utilization of these containers are some factors expected to propel growth of the future market. Advancements in packaging technology in terms of design, recyclability, durability, and usability is another factor expected to augment market growth over the forecast period. On the other hand, stringent government regulations related to the usage of plastics is a factor anticipated to hinder growth of the target market to a certain extent.
The global food service packaging market is segmented by application, Bakery & Confectionary segment is expected to register significant growth, due to growing consumption of fast food.
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According to packaging type segments, the flexible packaging segment is projected to register substantial growth, due to its characteristics including cost efficiency, flexibility to pack any kind of food items, and recyclability.
The global market for food service packaging is extremely fragmented in nature, due to the presence of a larger number of large and small vendors. The occupancy of multiple market players has created challenges for players in retaining customer’s loyalty. Vendors in this heterogeneous market are competing in terms of packaging innovation, pricing strategy, and quality. High intensity of competition between players has led them to provide customized solutions and services along with attractive loyalty-based offers for retaining high-value customers.
Geographically, inferable from the rise in number of food chains in the Asia Pacific region, the demand for food service packaging is additionally expected to rise at a considerable rate. The development of the market in the area can also be attributed to the rise in disposable income of individuals in the region and likewise their preference towards fast food services. Moreover, the hectic and sedentary way of life of individuals in the area has additionally affected their dietary patterns, hence initiating them to go for online food or request a takeaway from the eateries. Accordingly, the demand for food service packaging has increased considerably and is projected to remain the same in the future market. North America market is dominating the market due to the existence of large customer base for packaged food.
The report will helps to decision maker the in-depth study of food service packaging market along with its opportunities, trends, regional segmentation, global statistics, and the contributing factors that would help the investors to take a confident step forward in their business decision.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global food service packaging market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global food service packaging market.
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Scope of Global Food Service Packaging Market
Global Food Service Packaging Market, By Material
• Plastic
• Metal
• Others
Global Food Service Packaging Market, By Packaging Type
• Paper & Paperboard Packaging
• Flexible Packaging
• Rigid Packaging
• Others
Global Food Service Packaging Market, By Fabrication Process
• Die Cutting
• Thermoforming
• Injection Molding
Global Food Service Packaging Market, By Application
• Bakery & Confectionary
• Dairy Products
• Fruits & Vegetables
• Meat & Seafood
• Sauces & Dressings
• Others
Global Food Service Packaging Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Food Service Packaging Market
• Amcor Limited (Australia)
• Bemis CompanyInc (U.S.)
• Westrock Company (U.S.)
• Sealed Air Corporation (U.S.)
• International Paper Company (U.S.)
• Reynolds Group Holding Limited (New Zealand)
• DS Smith Plc (U.K)
• Huhtamaki Oyj (Finland)
MAJOR TOC OF THE REPORT
Chapter One: Food Service Packaging Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Food Service Packaging Market Competition, by Players
Chapter Four: Global Food Service Packaging Market Size by Regions
Chapter Five: North America Food Service Packaging Revenue by Countries
Chapter Six: Europe Food Service Packaging Revenue by Countries
Chapter Seven: Asia-Pacific Food Service Packaging Revenue by Countries
Chapter Eight: South America Food Service Packaging Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Food Service Packaging by Countries
Chapter Ten: Global Food Service Packaging Market Segment by Type
Chapter Eleven: Global Food Service Packaging Market Segment by Application
Chapter Twelve: Global Food Service Packaging Market Size Forecast (2019-2026)
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