Food Service Packaging Market Forecasts to 2028 – Global Analysis By Packaging Type (Pouches, Bags), Product Type (Cups, Cutlery, Straws), Application, and By Geography

Food Service Packaging Market Forecasts to 2028 – Global Analysis By Packaging Type (Pouches, Bags), Product Type (Cups, Cutlery, Straws), Application, and By Geography

According to Stratistics MRC, the Global Food Service Packaging Market is accounted for $85.16 billion in 2021 and is expected to reach $138.55 billion by 2028 growing at a CAGR of 7.2% during the forecast period. Food service packaging includes products utilized for the service or packaging of prepared foods and beverages in eat-in, takeaway food service establishments, and home delivery. Food service packaging solutions will expand the shelf life of the packaged food items and keep them fresh and safe. These products safeguard the food products from contamination caused by microorganisms, air, and moisture.

Convenience features such as easy opening, portability, and single-use packaging drive food packaging innovation for processed foods. The Global Food Packaging Market is likely to reach $565.83 billion by 2027. According to a survey of American Adults by Consumer Action, in July 2019, 34% of adults know most recyclable food packaging materials as cardboard, followed by plastic 26%, glass 21%, and metal 8%. Increasing awareness regarding consuming fresh food is influencing consumers to opt for packaged products with a longer shelf life.

Market Dynamics:

Driver:

Increasing focus on proper food packaging

People are interested more in the utilization of processed and prepared packaged foods. The popularity of such packaged foods is increasing the market demand. The food service packaging prevents any kind of contamination like light, dust, and moisture and also protects it from becoming dry. With expanding product shelf life and reduction of food spoilage beneficial features, the market demand is going to reach greater heights. The market outlook represents that the market growth is exhilarating rapidly because of the increasing food service sector.

Restraint:

Issues in food safety

Food safety is vitally concerning since any mistreatment, infection, or recorded food-borne sickness is ensured to be a principal Public Relations (PR) nightmare. Experts should continuously be careful with food trends to productively lead food entrepreneurs in carrying out safety strategies and safeguarding their brand. Those responsible for regulation must vigilantly track food crazes and trends and alterations in consumer behavior to be able to anticipate the requirement to review and update the food code to guarantee public health and security. Issues in food safety are thus restraining the growth of the market.

Opportunity:

Packaging innovation in the food industry

Packaging plays a significant role in preserving food quality and ensuring food safety for the shelf-life duration. Plastic packages are very useful in achieving innovative product solutions. Among different plastic packaging sorts, plastic cling film is a highly utilized plastic packaging. The shift towards eco-friendly packages and high-level advancements in cling film packaging is shaping the market. These packaging solutions assist in increasing market availability, inventory control, consumer education, improving shelf life, and even ensuring the safety and quality of the food product. Nanotechnology is a newly developing technology that can limit spoilage, increase food shelf life, repair the tears in packaging, ensure food safety, reduce the food shortage problem, and improve consumer health.

Threat:

Fluctuating prices of raw materials

Appearances on the lookout, weather conditions, export demand, and varietal differences among commercial centers all have an impact on price changes. When these factors were active, raw material prices exhibited volatility, which impacted by-products, which in turn influenced the growth of the fresh food packaging market. Most of the food container is made up of 100% recyclable polypropylene and this material is produced from the remaining misuse of fossil fuel as prices of fossil fuel get hike increasing the price of plastic packaging. Such increasing price over time is slowing down and acting as a threat to the growth of the fresh food packaging market.

The beverages segment is expected to be the largest during the forecast period

The beverages segment is estimated to have a lucrative growth as beverages include different types of drinks, based on their constituents and their compositions. Many organizations are aiming at utilizing innovative packaging materials, developed from degradable and recyclable materials to achieve sustainability. The expectations for quality & hygiene and growth in health awareness are driving the food service packaging market growth in the beverages sector.

The full service restaurants segment is expected to have the highest CAGR during the forecast period

The full-service restaurants segment is anticipated to witness the fastest CAGR growth during the forecast period due to the onset of digital dining trends. This has forced foodservice operators to deploy contemporary equipment including kitchen equipment to make the preparation method faster and limit delivery uptime. The consequent shift in the dine-out culture for formal events and informal gatherings in the course of travel and tourism activities is further propelling the growth of this segment.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to the increase in the utilization of packaged foods, the presence of well-established brands utilizing advanced kitchen equipment in the region, and the availability of eco-friendly packaging like biodegradable packaging and sustainable packaging solutions preferred by consumers to safeguard the environment. The soaring government initiatives leveraging the tourism sector in conjunction with immigration in the nation and the existence of key players.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the world's population living in this region and the increasing demand for fresh food and food products, growing urbanization of the developing countries, and the increasing adoption of takeaway facilities and changing consumer preferences. The high demand for food service packaging products from full-service restaurants, cafes, etc., is mainly driving the food service packaging market in the Asia Pacific.

Key players in the market

Some of the key players profiled in the Food Service Packaging Market include Cambay Technopack Private Limited, WestRock Company, Ampac Packaging LLC, Rock-Tenn Company, Letica Corporation, Huhtamaki Global, Greif Incorporated, Bemis Company Incorporated, Crown Holdings Incorporated, BWAY Corporation, Genpak, LLC, Ball Corporation, AR Packaging, Graphic Packaging International, LLC, Amcor Limited, Vegware Ltd and Mondi Group.

Key Developments:

In April 2020, Mondi Group partnered with Reckitt Benckiser Group to launch a fully recyclable, mono-material flexible plastic packaging portfolio for the premium line of its Finish® dishwasher tablets Quantum Ultimate. This product line had previously used a multilayer, PET/PE laminate pouch construction that was not recyclable. With RB’s commitment that 100% of its plastic packaging must be reusable or recyclable by 2025 that had to change.

In May 2019, Sealed Air Corporation announced that it has signed a definitive agreement to acquire Automated Packaging Systems, Inc. (APS), a leading manufacturer of high-reliability, automated bagging systems. This acquisition expands the breadth of the automated solutions and sustainable packaging offerings, giving access to growth opportunities in the markets they serve.

Packaging Types Covered:
• Pouches
• Rigid Packaging
• Paper & Paperboard Packaging
• Flexible Packaging
• Bags

Product Types Covered:
• Wraps
• Two Piece Containers (Separate Lid Containers)
• Corrugated Boxes and Cartons
• Stirrers
• Pizza Box
• Single Serve Portion Packs
• Plastic Bottles
• Cups
• Lids for Cups
• Foil
• Cutlery
• Straws
• Clamshell Containers (Hinge Lid Containers)
• Trays, Plates, Food Containers, and Bowls

Materials Covered:
• Wooden
• Molded Fibers
• Clay Coated Cardboard
• Plastic
• Metal
• Aluminum

Fabrication Processes Covered:
• Thermoforming
• Injection Molding
• Die Cutting

Applications Covered:
• Bakery and Confectionery
• Prepared Meals
• Fruits And Vegetables
• Dairy Products
• Beverages
• Bread and Sweets
• Meat & Poultry

End Users Covered:
• Online Delivery Portals
• Institutional Foodservice Facilities
• Foodservice Outlets
• Quick Service Restaurant
• Full Service Restaurants
• Hospitality

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances