Currently, stimulating restaurant and retail operators are focusing on trends that shine a spotlight on ever-evolving tastes and sensibilities of consumers. They are propelling the technology-enabled convenience customer service on to the forefront in the foodservice innovation, worldwide. Technology balance plays a crucial role in changing the face of foodservice, as a part of this, restaurants are balancing operational efficiency with human interaction to provide the first-rate service to customers. It is important for the foodservice market players to stay aligned with changing tastes such as new cuisines, technologies, and equipment to sustain in the competitive food service space. Additionally, their craft packaging solutions according to consumer specifications are also leading these players to hold a major foodservice market share. The shift in consumer preferences in the food culture for higher quality food and expediency are setting trends in the culinary world. Thus, the ever-changing interests of customers are gaining traction of restaurant owners, chefs, and people involved in the foodservice industry. Culinary arts are increasing customer-base and shaping the foodservice packaging industry. On the other hand, the grab-and-go situation is driving the pre-packaged and packaged food rather than being made onsite, thereby contributing to an increment in the food service packaging market revenue.
In this contemporary world, ready-to-serve packaging solutions are in trend due to the increasing demand for food away from home. The foodservice firms are grabbing this opportunity and engaged in commitment to deliver a better dining experience. In addition to this, transformation in diners to takeout for convenience are forewarning the restaurant owners to avoid messes and spills through substandard food packaging. This is because, spill-proof and stopping stains are important attributes of foodservice packaging which lift the brand name in the foodservice marketplace. Today’s busy consumers giving importance to convenience and increasing the prominence of food boxes and to-go containers that integrated with paperboard and recycling solutions in order to serve food for the needy. At present, consumers are more concerned regarding spill and breakage protection, especially in takeout packaging. Therefore, many of the quick-service restaurants are serving custom carton packaging which enhances the eating on the go easier and customer satisfaction on either hand.
As a result, the Food Service Packaging Market size stood at $71.6 billion in 2018 and is estimated to grow at a CAGR of 5.56% during the forecast period 2019-2025, according to the global food service packaging market report.
The report evaluates the food service packaging market size based on material, packaging type, and application. Moreover, it provides a detailed analysis of prominent players and start-ups with their food service packaging market share, globally.
The prominence of Varied Packaging Applications in the Food Service Industry:
Food Service Packaging Association (FPA) encouraging the manufacturing, and distribution of foodservice packaging. This specialized packaging is used for a variety of purposes such as to pack leftovers, takeout, grocery delivery, and ready-to-eat food. Drinking straws have become the choice of people to enjoy their cold beverages. Highly accepted switch by some of the companies in the foodservice sector to use non-plastic straws while serving cold drinks to customers. For this, the natural paper straws and cups are evolving as a sustainable and safe option to serve beverages. Therefore, particularly beverage application of food service packaging is set to grow at the fastest CAGR of 4.7% over the forecast period.
Convenience Packaging: This is an ideal foodservice packaging offered by the caterers and restaurateur’s that suits best to keep-on hot foods hot and cold foods cold. And also improves the consumer’s convenience to consume food without bothering about the time and place. This compact and lightweight packaging let consumers carry food and beverages without any hassle.
Efficient-Resource Management: Biodegradable food packaging is preferred by several consumer packaged goods manufacturers as it uses the low amount of water and energy throughout the manufacturing and disposal processes. During the recycling process, the raw materials used in this packaging can be recycled into novel products, thereby reduces the amount of raw materials requirement.
FDA research states that single-use foodservice packaging reduces the spread of infectious diseases. Aseptic, foil, vacuum, and flexible packaging are the majorly used packaging types in the foodservice sector. Aseptic packaging is the best alternative to conventional canning in the production of shelf-stable packaged food products. Foil packaging offer extended shelf life to products as it ensures the safety of the food from humidity. Vacuum packaging reduces spoilage and wastage of food, widely used in the meat processing business. Flexible packaging is a cost-effective solution in the food service packaging industry, whose functionality promotes convenience and durability of products.
Trends in the Food Service Packaging Market:
Asia-Pacific Food Service Packaging Marketplace:
The rise in the number of environmental concerns is influencing the foodservice operators to decrease the use of excessive packaging, plastic straws, plastic containers, and even single-use items, particularly in APAC. China, the Philippines, and Malaysia are the emerging markets in the foodservice industry. Consequently, APAC held a domineering share of 42% in the global food service packaging market. Increase in the number of foodservice establishments and their performance of packaging during delivery and catering are engaging more number of on-the-go and time-crunched consumers in this region. Growing preference of urban population for prepared foods and beverages in tamper-evident packaging coupled with packaging innovations are leading to shifting of online players such as Amazon into the foodservice business.
Major Players in the Food Service Packaging Market – Competitive Landscape:
Amcor Limited, The Dow Chemical Company, Bemis Company, Inc., WestRock Company, Sealed Air Corporation, International Paper Company, Reynolds Group Holding Limited, DS Smith Plc, Huhtamaki Oyj, Berry Plastic Corporation, and Ball Corporation are the major players, which are involved in the global food service packaging market. These players are implementing business strategies in order to mark their brand name as one among the food service packaging top 10 companies, by increasing their market share for the same.
In May 2019, Sealed Air Corporation (SEE) has acquired Automated Packaging Systems, Inc. (APS), which is one of the leading manufacturers of automated equipment, for an amount of $510 million. This business strategy results in the expansion of SEE automated solutions and sustainable packaging offerings and creating a significant number of opportunities in protective packaging solutions and services.
In April 2019, Amcor Limited announced a product launch of its first packaging product namely, ‘AmLite Ultra Recyclable’. This is used to pack a range of food, home & personal care, pharmaceutical products. This recyclable, unique, and high-barrier flexible packaging reduce nearly a 64% pack’s carbon footprint.
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