Food Service Packaging Market is Expected to Reach Almost US$ 97 Bn by 2031 End

Latest industry survey by Fact MR, predicts sales of Food Service Packaging to swell at propelled CAGR through 2031, as chemical and materials sales gradually recover post disruptions caused by COVID-19. The report is aimed at furnishing insights into hidden growth opportunities and challenges. It also provides recommendations to aid businesses prep for unforeseen challenges.

The market intelligence study therefore includes demographics analysis so market players can plan their product and marketing strategy. It offers sales outlook in 20+ countries. It identifies the most lucrative segments to assist companies in creating winning strategies for future.

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According to Fact.MR, the food service packaging market was valued at over US$ 54 Bn in 2020 and is expected to reach almost US$ 97 Bn by 2031. The market is growing steadily due to the growing consumer demand for recyclable and sustainable food packaging materials. 

The report offers actionable and valuable market insights of Food Service Packaging. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Food Service Packaging Market across various industries and regions.

The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Food Service Packaging market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Food Service Packaging

This newly published and insightful report sheds light on Market Insights of Food Service Packaging, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Food Service Packaging Market.

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Key Segments Covered

  • Product type

    • Food Service Packaging for Plates
    • Food Service Packaging for Shallow Trays
    • Food Service Packaging for Cups
    • Food Service Packaging for Bowls
    • Food Service Packaging for Bottles
    • Food Service Packaging for Cans
    • Food Service Packaging for Single Serve Portion Packs
    • Food Service Packaging for Clamshell Containers (Hinge Lid Containers)
    • Food Service Packaging for Two Piece Containers (Separate Lid Containers)
    • Food Service Packaging for Others (Foil, Paper and Pouches)
  • Packing Material

    • Polyethylene Terephthalate (PET, PETE, PETG or polyester) Food Service Packaging Material
    • High Density Polyethylene (HDPE) Food Service Packaging Material
    • Polyvinyl Chloride (PVC) Food Service Packaging Material
    • Low Density Polyethylene (LDPE) Food Service Packaging Material
    • Polypropylene (PP) Food Service Packaging Material
    • Polystyrene (PS) Food Service Packaging Material
    • Aluminum Food Service Packaging Material
    • Clay Coated Cardboard Food Service Packaging Material
    • Molded Fiber Food Service Packaging Material
  • Application Type

    • Packaging for Foodservice Outlets
    • Food Service Packaging for Bakery Products
    • Food Service Packaging for Takeaway Meals
    • Food Service Packaging for On-the-Go Breakfast
    • Food Service Packaging for Institutional Food Services
    • Food Service Packaging for Online Food Ordering
    • Food Service Packaging for Dairy Products
    • Food Service Packaging for Alcoholic Beverages
    • Food Service Packaging for Ready to Drink Beverages
    • Food Service Packaging for Other Applications
  •  Fabrication Type

    • Thermoforming-based Food Service Packaging
    • Die Cutting-based Food Service Packaging
    • Injection Molding-based Food Service Packaging
Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/465

Competitive Landscape

Mergers and acquisitions, partnerships, and the development of new products are just some of the strategies used by market players to stay competitive and expand their market footprints in the industry.

  • On March 12, 2021, Imperial Dade acquired Cosgrove Enterprises, Inc. This acquisition will help the company solidify its position as a premier distributor of specialty products. As a result of this acquisition, the firm is strengthening its presence in the southeast of the U.S.
  • On 26 July 2021, Graphic Packaging unveiled OptiCycle, an alternative to traditional PE and polylactic acid-coated products foodservice packaging. A single-use food service packaging that is easily recyclable and the first of its kind to be commercially available by a domestic supplier in North America.

9 Key Future Projections of Food Service Packaging Market for the Forecast Period 2017-2026 (In Terms of Volume)

  • North America will continue to hold the largest market share, with sales pegged to exceed 15,500 ‘000 tons by 2026-end. Sales of food service packaging products in North America are set to exhibit the highest CAGR through 2026.
  • Food service packaging sales in Europe and Asia-Pacific excluding Japan (APEJ) are expected to account for nearly similar shares of the market by 2026-end. However, sales in APEJ will record a relatively faster growth than those in Europe through 2026.
  • On the basis of product type, plates will remain dominant in the market, succeeded by cups. Sales of these two food service packaging products are collectively estimated to exceed 21,000 ‘000 tons by 2026-end.
  • The market shares of bowls and shallow trays among products are poised to remain approximately equal by 2026-end. In addition, clamshell containers are likely to prevail as fast-selling products in the market.
  • Among packaging materials, polyethylene terephthalate (PET, PETE, PETG or polyester) is expected to retain its largest share of the market during the forecast period. However, sales of aluminum and molded fiber are set to record a relatively faster growth in the market through 2026.
  • Polypropylene and clay-coated cardboard are expected to register a parallel sales growth through 2026. Demand for these two packaging materials will witness a slight decline between 2017 and 2026.
  • Foodservice outlets will continue to be the most lucrative application of foodservice packaging. Food service packaging will also record significant sales for application in alcoholic beverages and takeaway meals during the forecast period.
  • Alcoholic beverages and ready-to-drink beverages will remain fast-expanding applications of foodservice packaging.
  • Thermoforming is anticipated to remain preferred among fabrication type for foodservice packaging, followed by die cutting.

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Report Benefits & Key Questions Answered

  • Food Service Packaging Company & brand share analysis: The report offers brand-share analysis on Food Service Packaging market to offer a more in-depth competition deep-dive. This is intended at assisting companies at proactive long-term planning.
  • Food Service Packaging Historical volume analysis: Factors affecting sales in the past are analyzed in detail. The report also offers comparative analysis between growth trajectory exhibited in 2016-2020 and 2021-2031.
  • Food Service Packaging Category & segment level analysis: To offer a comprehensive analysis, the market identifies leading segments and highlights chief factors enabling growth across these categories.
  • Food Service Packaging Consumption by demographics: The demographic analysis is intended at providing recommendations to companies to help them create growth strategies around dynamic consumption patterns.
  • Food Service Packaging Manufacturing trend analysis: Manufacturing trend analysis is the key highlight of the study. It offers vital data on strategies adopted by market players to align their manufacturing strategies as per prevailing market trends.
  • Post COVID consumer spending on Food Service Packaging: The survey offers a chapter dedicated to analyzing post COVID consumer behavior. Changes in their spending pattern are carefully analyzed to offer insights into potential impact on Food Service Packaging sales.

More Valuable Insights on Food Service Packaging Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Food Service Packaging, Sales and Demand of Food Service Packaging, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

For More Insights-https://www.globenewswire.com/news-release/2022/03/09/2400432/0/en/Low-Code-Development-Industry-is-Projected-to-Achieve-a-Global-Market-Size-of-US-187-Bn-by-2032-Currently-US-Accounts-For-the-Largest-Market-Share-in-the-World.html

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