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The “Global Food Service Packaging Market to 2027 - Analysis and Forecasts by Material (Plastic, Metal, Others); Packaging Type (Flexible and Rigid); Application (Beverages, Prepared Meals, Fruits and Vegetables, Bakery and Confectionery, Dairy Products, Others)” The scope of study involves understanding on the factors responsible for this growth of food service packaging market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant food service packaging players in the market and their key developments .
The global food service packaging market is accounted to US$ 63,605.3 Mn in 2018 and is expected to grow at a CAGR of 5.3% during the forecast period 2019 – 2027, to account to 100,715.0 Mn by 2027.
Packaging plays an essential role in maintaining quality and keeping food safe during handling and transportation. Food service packaging offers a marketing medium to the food service providers and helps improve customer satisfaction levels as well as information transmission. Food contact materials and food packaging are essential to provide consumers worldwide with safe and nutritious food.
The North America is the fastest-growing region in the global food service packaging market. The companies in North America are continuously enhancing the overall business processes to meet the customers' demand for high-quality products and services in the best possible way. Factors such as utilization of automation and amendments in food safety regulations by FDI are propelling the growth of the North American food industry, which in turn is expected to influence the food service packaging market during the forecast period. Associations and committees established in North America for the food & beverage sector take care of every aspect of food production, preserving, testing, quality control, packaging, labeling, and more. The FDA (Food and Drug Administration) is charged to control and manage food safety. With an increasing demand for processed and frozen food driven by a change in the eating habits of the consumers, the food manufacturers are coming with new technologies to prevent the food from contamination and any other damage. This in turn is influencing the market growth for food service packaging in this region.
The food service packaging market based on application is segmented as beverages, prepared meals, fruits and vegetables, bakery and confectionery, dairy products, others. In 2018, the bakery and confectionery segment is the fastest-growing segment in the global food service packaging market. Bakery and confectionery segment hold an essential position in food processing industries. The production of chocolates, sweets, and bakery food items has increased firmly and is one of the largest sectors among the food processed industries in many parts of the world. Continuous rise in the production of bakery items such as bread, biscuits, pastries, and more in both organized and unorganized areas is rising, due to increasing demand from customers. In the bakery sector, packaging of various bakery products is linked with its production, storage, preservation, transportation, and marketing. Packaging of the bakery food items is necessary, as they are supposed to be used for a long time from the date of their manufacturing. Furthermore, production of bakery and other sweets is rising steadily and witnessed the massive production between all the growing countries.
The global food service packaging market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East & Africa, and South America. The Asia-Pacific region is expected to account for the largest share of the global food service packaging market in 2018, followed by North America. In addition the, Japan, China, and India are the two key countries in the APAC region which are expected to significantly drive the food service packaging market and also expected to continue its dominance in terms of CAGR throughout the forecast period from 2019 to 2027. Some of the major players in the food service packaging market include Amcor plc., Ball Corporation, Berry Global, Inc., Dow Inc., DS Smith PLC, Genpak LLC, Huhtamäki Oyj, Reynolds Group Holdings Limited, Sealed Air Corporation, WestRock Company, and among others.
The report segments the global food service packaging market as follows:
Global Food Service Packaging Market - By Material
Global Food service packaging Market - By Packaging Type
Global Food service packaging Market - By Application
Global Food service packaging Market - By Geography
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