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Foodservice packaging is also known as single-use food service. This industry has matured over the years, which include all types of packaging products such as wraps, bowls, clamshells, plates, and cups. The global market for foodservice packaging assists the well-established and widespread foodservice industry, which consists of online and offline foodservice stores which are serving a large number of consumers across the world.
Trends and Opportunities in Global Foodservice Packaging Market
The acute rise in the cost of packaged food is witnessed due to the remarkable surge in the overall utilization of products across the globe. The variety of packaging solutions have arrived in the market that is assumed as a key part for the classification of the products on the basis of their capacity in safeguarding not only the goods but also their properties of upgrading its appearance.
Consumers these days are very conscious of the hygiene associated with packaged food. Not only have this, but also comfort in carrying the food products has given similar importance which is positively affecting the growth of the global foodservice packaging market. A significant number of foodservice disposables are for single use as they are made of plastic and foam which keeps the food protected from contamination.
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Lately, corrugated packaging has achieved huge traction in the foodservice sector because of its thermals properties and the ability to avoid food spilling and to maintain the freshness of the food for a long duration. This is beneficial for the packaging of hot and cold drink, which is propelling the growth of the global foodservice packaging market.
Packaging Material Type
Polyethylene Terephthalate is the most lucrative segment in the global foodservice packaging market because of its lower cost and its transforming benefits. This segment is also expected to grab the largest market share in terms of value during the projected period. Apart from this segment, the demand for Polyvinyl Chloride and High-Density Polyethylene is also likely to remain high due to its ability to prevent food products from getting moisture and temperature-resistance.
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In North America, although the market is matured yet the demand for foodservice packaging is constantly increasing primarily due to high demand from foodservice settings in the United States. The population in the North America region is opting for ready-to-go food because of the busy and hectic lifestyle. Additionally, increasing promotion of home deliveries of food products by several foodservice outlets is expected to upsurge the growth of global foodservice packaging market.
Emerging Players in the Market
DS Smith, Huhtamaki Oyj, WestRock Company, Genpak, Smurfit Kappa Group, LLC, Stanpac Inc., Linpac Packaging, Sealed Air Corporation, Pactiv LLC, and D&W Fine Pack are some of the emerging players operating in the market. As this market is fragmented, a large number of small players have presented in the worldwide market of foodservice packaging. Consequently, high competition can be witnessed amongst players.
The team of experts at QY Research has validated the data in help with several primary interviews with industry experts and secondary research. To offer a revenue share of the market, to potential as well as current clients, the team of analysts working in packaging sector has completed product mapping of the manufacturers operating in the global foodservice packaging market.
The detail and all-inclusive analysis of the breakdown of key players’ businesses associated with a particular segment have also offered in this report. Accordingly, annual revenue is also calculated based on various segments. In secondary research, companies’ annual reports have taken into consideration along with the list of manufacturers functioning in the market.
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