Food Service Packaging Market To Reach USD 110.4 Billion In 2027 | CAGR 4.7% - Forencis Research

Food Service Packaging Market Size, Share, Trends, Growth, Analysis, Research

Global Food Service Packaging Market: Key Highlights

  • According to the new market research report Food Service Packaging Market by Material  Type (Plastics, Metals, Paper and Paperboard, Glass) by Packaging Type (Trays, Bags, Boxes, Cans, Cartons, and Others) by Application (Fruits & Vegetables, Bakery & Confectionery, Beverages, Poultry & Seafood, Dairy Products, and Others) by Region (Asia Pacific, North America, Europe, Middle East & Africa, and South America) – Global Forecast From 2020To 2027 the global food service packaging market is estimated to reach USD 110.4 Billion in 2027 at a CAGR of 4.7% during forecast period 2020-2027.
  • Increasing demand for convenience foods and changing lifestyle are expected to drive the global food service packaging market during the forecast period
  • However, stringent government regulations are expected to hamper the market growth during the forecast period

Food Service Packaging Market

Global Food Service Packaging Market: Key Market Dynamics

  • The increasing demand for convenience foods owing to it requires less time as well as energy to prepare is expected to drive the market during the forecast period
  • Moreover, the increasing population along with rapidly changing lifestyle are also the major factor boosting the market growth
  • Furthermore, innovations in packaging technology are expected to create a new market opportunity for the players
  • However, stringent government regulations regarding the disposal of the used packaging material are expected to hamper the market growth in the near future

Global Food Service Packaging Market: Regional Overview

  • Asia-Pacific

The Asia Pacific food service and packaging market is mainly driven by the factors such as growing the population and the consequent increase in demand for processed & prepared food, due to the hectic lifestyles, increasing disposable incomes, time constraints for meal preparation, and easy availability of packaged foods. Moreover, increasing use of e-commerce platform for ordering packed food items as they offer timely delivery and better discounts, this has led to boost the foodservice packaging market.

  • North America

Increasing focus on the food and drinks geared towards consumers, and continued spread of convenience and discount retailers have a significant impact on the growth of the North America foodservice packaging market. Although, the US is expected to hold the largest shares of the market, and Mexico has shown the highest growth in the foodservice packaging market. This growth can be attributed to the Mexican grocery retail industry is less developed compared with the US and Canada. Moreover, people are now starting to shop for modern, Western-style outlets.  These factors are major considered to boost the foodservice packaging market in the North America region.

Global Food Service Packaging Market: Key Players Overview

  • Amcor plc:

Amcor plc is one of the leading player in developing and providing packaging solutions for the food & beverage, healthcare, home care, personal care, pet care, technical and other products.  The company consistently develop new technology and product which improve the quality and safety of food and other products. In August 2019, Amcor plc developed polyethylene terephthalate (PET) bottles for pasteurized beer in Brazil. The glass bottles are replaced with new PET bottles, owing to PET bottles offers design advantages over glass bottles, such as easily and safely portable, unbreakable, and provide barrier protection.

  • BALL CORPORATION

BALL CORPORATION engaged in supplies packaging solutions for food & beverage, personal care and household products customers. The company also supplies packaging solutions to aerospace and other technologies primarily for the U.S. government. In October 2019, BALL CORPORATION expanded its aluminum cup production in Georgia.

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

Contact Us:

FORENCIS RESEARCH

USA
Aurora
CO 80014

Phone: +1 (720) 306 9020

Email: sales@forencisresearch.com

Website: https://www.forencisresearch.com/

Rep Id : CM 040

Published : 2020-02-03

Related Reports