Global Food Service Packaging Market Report 2019 Anticipates The Market Value To Touch USD 96.2 BN By 2026
Posted On January 03, 2020
The report on the Global Food Service Packaging Market published by Value Market Research states that the market was valued at USD 65.7 BN in 2019 and is anticipated to reach USD 96.2 BN by 2026 with a CAGR of 5.7% within the forecasted period from 2019 to 2026. The growth in the demand from end-use industries such as food outlets, food & beverages and restaurants along with the rising demand for sustainable and recyclable packaging is fuelling the growth of the global foodservice packaging market. Additionally, the rise in the trend for ready-to-eat food and the growing usage of convenient packaging coupled with the transition in consumer demand patterns regarding food packaging are also factors driving the growth of the foodservice packaging market globally. Moreover, the expansion of foodservice stores offline, as well as online, is further supplementing the growth of the market.
The foodservice outlets are divided into two sectors. The first sector is a commercial establishment -that includes fast-food restaurants, catering, nightclubs & recreational outlets and the second sector involves non-commercial outlets which include food operations that run inside the premises of organizations such as hospitals, schools, military bases, etc. Food service packaging is the term used for the process of packaging all types of food including processed and semi-processed food in order to preserve the food for long durations and in order to maintain freshness. Packaging plays a significant role in maintaining quality and keeping food safe during handling and transportation. Food service packaging provides a marketing medium to the food service providers and also improves customer satisfaction levels. The food service packaging market includes products such as bowls, plates, cups, clamshells, and wraps, among others.
The report “Global Food Service Packaging Market Report By Material (Plastic, Metal, And Others), Type (Paper & Paperboard, Flexible Plastic, Rigid Plastic, Beverage Cans, And Others), Application (Meat & Poultry Products, Dairy Products, Beverages, Fruits & Vegetables, Bakery & Confectionery, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2019-2026” covers a complete outlook on the global food service packaging market.
By material, plastic and metal are the two segments of the global food service packaging market. Plastic segment is a leading segment due to its convenience and ease over metal packaging material. On the basis of type, paper & paperboard, flexible plastic, rigid plastic and beverage cans are the segments of the global food service packaging market. Paper and paperboard packaging material occupies a prominent market share by type over other materials as they are easy to recycle, and are non-toxic. By application, meat & poultry products, dairy products, beverages, fruits & vegetables and bakery & confectionery are the classifications provided for the global food service packaging market. The leading demand sector for packaging material is meat & poultry products due to high demand of meat & poultry products.
North America, Europe, Asia Pacific, Latin America and Middle East & Africa are the geographical segments of the global food service packaging market. Asia Pacific is the leading region due to high demand for packaged food along with increasing number of food chains in this region.
The Report Segments Global Food Service Packaging Market -
- Paper & Paperboard
- Flexible Plastic
- Rigid Plastic
- Beverage Cans
- Meat & Poultry Products
- Dairy Products
- Fruits & Vegetables
- Bakery & Confectionery
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
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
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