Food Service Packaging Market by Material (Plastic, Metal and Others), by Type (Paper & Paperboard, Flexible Plastic, Rigid Plastic, Beverages Cans and Others), and by Application (Meat & Poultry, Beverages, Dairy Products, Fruits & Vegetables, Bakery & Confectionery and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024

Global food service packaging market expected to reach around USD 89.98 billion by the end of 2024, growing at a CAGR of around 5.6% between 2017 and 2024. Food service packaging is a type of packaging, used by food service outlets, which can be either single-use food service or sometimes can be re-packed and used again.

05-Jun-2018 | Number of pages: 110 | Report Code: ZMR-2788 | Report Format : | Status : Published

Analysis

Food service packaging is a technique used by commercial and non-commercial foodservice outlets to pack their food products for services like home delivery and takeaway. The vendors in food service packaging use various new innovative ideas for packaging of food products. Food service packaging consists of wide range of packaging products, such as bowls, plates, cups, clamshells, wraps, etc. The main goal of food service packaging industry is to encompass reducing the adverse effect on the environment while differentiating a brand and food buying experience through packaging innovation.

There is a paradigm shift of consumers in the food consumption pattern from traditional food to packaged food. This rapid increase in the utilization of packed food products across the globe has mainly driven the food service packaging market. Variety of packaging materials, types, and technologies helps the packaging industry provide innovative, safe, and sustainable packaging solutions for different products. Changing lifestyles, urbanization, increase in the working population especially women population, increase in preference for ready to consume foods, use of bioplastics as a sustainable food packaging solution and increasing consumption of fast foods are some of the factors driving the growth of food service packaging market. Also, the use of the online food services has fueled the growth of the market. Stringent rules and regulations for the use of synthetic material and management of industrial waste have affected the growth of the market.

Global Food Service Packaging Market

The material segment is divided into plastic, metal, and others. The plastic segment is anticipated to dominate the global food service packaging market. For food packaging, plastics have various applications such as in sealed shut wraps, bottles, containers, etc. This drives the growth of the global plastic segment. The type segment includes paper & paperboard, flexible plastic, rigid plastic, beverage cans, and others. The paper & paperboard segment is expected to dominate the global food service packaging market in the forecast period. Paper & paperboard are printable and have physical properties which enable them to be made into the flexible and rigid packaging. Due to these properties, there is an increase in demand for paper & paperboard across the globe. Based on application, the market is segmented into meat & poultry products, dairy products, beverages, fruits & vegetables, bakery & confectionery, and others. The meat & poultry segment dominated in the global food service packaging market due to increasing environmental concerns regarding harmful effects of packaging wastes.

Due to the ever-growing number of consumers eating off-the-shelf packaged food, Europe is projected to continue its supremacy in the global food service packaging market. Asia Pacific is expected to show a high CAGR because of the dynamic shift in the consumption pattern of consumers owing to changing lifestyles in this region.

Some of the key players in the global food service packaging market are Golden Box Ltd., Huhtamaki OYJ, Genpak LLC, D&W Fine Pack, Linpac Packaging, Gold Plast SPA, Pactiv LLC, Smurfit Kappa Group, Stanpac Inc. and WestRock Company. Some players are engaged in new developing different packaging techniques to increase the shelf life of the product.


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