On-the-go lifestyle to impel the growth of the food service packaging technology & equipment is expected to drive the global food service packaging market
Food service packaging is used to package processed and semi-processed food products. It provides service sectors such as takeaway restaurants, fast-food joints, restaurants, and catering services. It aids to maintain the quality, hygiene, and safety of food products. It offers heat resistance, stops the growth of microorganisms, and prolongs the shelf-life of the food product. It keeps the food products from contamination instigated by microbes and aids catalytic activity in fresh food. It plays a vital role in preserving quality and keeping food safe throughout handling and conveyance. Foodservice packaging provides a selling medium to the foodservice suppliers and aids improve consumer satisfaction levels as well as data transmission. Manufacturers are progressively shifting from outdated packing solutions to bio-based solutions, eco-friendly, with the rising need to decrease pollution and left-over.
The global food service packaging market is segmented into plastic, metal, and others. Based on the application, the market is segmented into alcoholic beverages, non-alcoholic beverages, fruits and vegetables, dairy products, bakery & confectionery, meat & poultry, and others. Based on the packaging type, the market is segmented into paper & paperboard packaging, flexible packaging, rigid packaging, and others. Plastic packaging is a supple form of wrapping, which permits foodservice suppliers to modify its form, and size as per their buyers’ needs. It is ideal in the target industry as it is not heavyweight and does not need a lot of storing space. Besides, plastic material is used in food packaging as it is easy to transport. Due to its properties, it is extremely durable and resistant to exterior impacts, it aids to preserve the wrapped food products.
The global food service packaging market has strong competition among the well-established and new emerging players. These key players aim to attain a competitive advantage over the other players by joining in mergers, partnerships, and acquisitions and escalating their businesses.
The global food service packaging market finds its scope in North America, Europe, APAC, South America, and the Middle East & Africa. Asia Pacific is anticipated to attain the largest market share in the global food service packaging in the given timeframe, in terms of revenue. Asia Pacific is projected to gain major market share in the target industry, in terms of revenue. Owing to the huge population and developing countries, such as China, and India, the region is anticipated to eyewitness significant growth in the given timeframe.
China accounts for the most important share in the target industry, due to its moderately higher food and beverage intake. The large population base and similar growth in the intake of fast food are enhancing the target industry growth. Moreover, in Australia, individuals spend almost 32% of their household food budget on fast foods, and the typical fast food meal comprises about half of an adult's suggested daily energy intake. Pizza Hut, Subway, Hungry Jack’s, KFC, Domino’s, are some of the key players in the QRSs industry. In India, urbanization, the standard of living, surviving with fast-paced work life, and the necessity of online food platforms are quickly changing the scope of the target industry.
The major players of the global food service packaging market are Amcor plc, Ball Corporation, Berry Global, Inc., Dow Inc., DS Smith PLC, Genpak LLC, Huhtamäki Oyj, Reynolds Group Holdings Limited, Sealed Air Corporation, and WestRock Company.
Key Segments of the Global Food Service Packaging Market
By Type Overview, 2018-2028 (USD Billion)
- Others (include Labels, stick packs and sachets)
By Material Overview, 2018-2028 (USD Billion)
- Aluminum Foil
- Others (include coating, ink, coating, and adhesive)
By Technology Overview, 2018-2028 (USD Billion)
- Digital Printing
- Others (include screen, offset, and letterpress printing)
By Applications Overview, 2018-2028 (USD Billion)
- Pharma & Health care
- Personal care & Cosmetics
- Others (includes consumer goods, oil & lubricants, agriculture, automotive, household products, tobacco, and sporting goods)
Regional Overview, 2018-2028 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of the Middle East and Africa
- South America
- Rest of South America