Product ID: SQMIG15H2031
Global Food Service Packaging Market Size, Share, Growth Analysis, By Product(Containers, trays), By Application(Restaurants, fast food outlets), By Material(Paper & paperboard, plastic) - Industry Forecast 2024-2031
Report ID:
SQMIG15H2031 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
93 |
Figures:
76
Global Food Service Packaging Market Insights
Food Service Packaging Market size was valued at USD 81.23 billion in 2021 and is poised to grow from USD 90.93 billion in 2023 to USD 134.92 billion by 2030, at a CAGR of 5.80% % during the forecast period (2023-2030).
The global food service packaging market has been experiencing significant growth due to increasing demand from the food and beverage industry, along with the rising trend of on-the-go consumption.
The market is driven by factors such as urbanization, changing lifestyles, and a surge in food delivery services. Environmentally sustainable and recyclable packaging materials are gaining traction as consumers and governments focus on reducing plastic waste.
Additionally, innovations in packaging technology and the adoption of eco-friendly materials by key players are likely to shape the market's future. However, challenges related to regulations, cost fluctuations, and waste management remain crucial considerations for industry stakeholders.
Furthermore, the ongoing advancements in materials science and packaging technologies are set to enhance product shelf life and food safety, catering to consumers' evolving preferences for fresh and high-quality meals.
As a result, the global food service packaging market is projected to experience substantial expansion in the coming years, offering lucrative opportunities for industry players and investors alike.
US Food Service Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Food Service Packaging Market Segmental Analysis
The global food service packaging market is segmented into material, product, application, and region. In terms of material type, the market includes paper & paperboard, plastic, and others. Product type segmentation comprises containers, trays, bags, cups, and wraps, among others. The key applications of food service packaging are in restaurants, fast food outlets, institutional catering, and online food delivery services. Geographically, the market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Food Service Packaging Market Analysis By Product
The largest sector is the food containers segment, accounting for a substantial share of the market due to the growing demand for takeout and home-delivered meals, coupled with the rise of food delivery services and online ordering platforms.
On the other hand, the fastest-growing sector is the sustainable and eco-friendly packaging segment, as consumers and businesses increasingly prioritize environmental considerations, leading to a surge in demand for biodegradable, compostable, and recyclable food service packaging options.
Food Service Packaging Market Analysis By Application
The largest sector in the food service packaging market is likely to be the online food delivery services. This growth can be attributed to the rising popularity of food delivery apps and the increasing demand for ready-to-eat meals and convenience foods.
Additionally, the fastest-growing sector in the food service packaging market is expected to be the institutional catering segment. Institutional catering includes packaging for food served in schools, hospitals, corporate offices, and other such establishments. The growth in this sector can be attributed to the expansion of healthcare facilities, corporate offices, and educational institutions across developing economies.
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Global Food Service Packaging Market Regional Insights
The global food service packaging market showcased diverse regional trends. In North America, the market was driven by the growing demand for sustainable and eco-friendly packaging solutions. Europe witnessed an upsurge in the adoption of biodegradable materials and stringent regulations promoting recyclability.
The Asia-Pacific region experienced substantial growth due to the expanding food and beverage industry, urbanization, and changing consumer lifestyles. Meanwhile, Latin America and the Middle East showcased increasing awareness of food safety and hygiene, leading to a rising preference for reliable packaging solutions. Africa exhibited gradual market development driven by economic growth and improving supply chain infrastructure.
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Global Food Service Packaging Market Dynamics
Food Service Packaging Market Drivers
Increasing Popularity of Fast Food
- The growing demand for convenience and on-the-go food consumption is a significant driver of the global food service packaging market. With busy lifestyles and increasing urbanization, consumers are seeking quick and easy meal solutions. Food service packaging provides a convenient way for restaurants, cafes, and fast-food chains to serve meals, snacks, and beverages while ensuring portability and hygiene. Additionally, the rise of food delivery services has further boosted the demand for efficient and secure packaging solutions to preserve the quality of food during transit.
Food Service Packaging Market Restraints
Environmental Concerns Related to Plastic Consumption
- Environmental concerns pose a major restraint for the global food service packaging market. The extensive use of single-use plastics, foam containers, and non-biodegradable materials in food packaging contributes to environmental pollution and waste generation. Governments and consumers are increasingly advocating for eco-friendly and sustainable packaging alternatives to reduce the impact on the environment. As a result, food service providers and packaging manufacturers are facing pressure to adopt greener practices and develop innovative biodegradable or compostable packaging solutions that minimize ecological footprint while maintaining food quality and safety.
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Global Food Service Packaging Market Competitive Landscape
The global food service packaging market is highly competitive, characterized by numerous players vying for market share. Key industry participants constantly strive to innovate and differentiate their offerings through eco-friendly materials, convenience, and product quality. Major players engage in mergers, acquisitions, and partnerships to expand their geographical presence and product portfolios. Additionally, they focus on research and development activities to introduce sustainable and cost-effective solutions that meet evolving consumer demands. Furthermore, stringent government regulations concerning packaging materials and waste management continue to influence the strategies of market competitors as they aim to gain a competitive edge while addressing environmental concerns.
Food Service Packaging Market Top Player’s Company Profiles
- Sealed Air Corporation (United States)
- Amcor plc (Australia)
- Berry Global, Inc. (United States)
- DS Smith Plc (United Kingdom)
- WestRock Company (United States)
- Ball Corporation (United States)
- Smurfit Kappa Group (Ireland)
- Genpak LLC (United States)
- D&W Fine Pack LLC (United States)
- Anchor Packaging Inc. (United States)
- Graphic Packaging International, Inc. (United States)
- Pactiv LLC (United States)
- Bemis Company, Inc. (United States)
- Coveris Holdings S.A. (United States)
- Be Green Packaging LLC (United States)
- International Paper Company (United States)
- Novolex Holdings, Inc. (United States)
Food Service Packaging Market Recent Developments
- In June 2021, TIPA expanded North America to develop its US-based capabilities as demand continued to grow for sustainable packaging.
Global Food Service Packaging Key Market Trends
- There has been a growing demand for sustainable and eco-friendly packaging solutions to address environmental concerns. Additionally, the industry has seen an increasing preference for innovative and convenient packaging designs to cater to the changing consumer lifestyles. Moreover, advancements in technology have led to the development of smart and temperature-controlled packaging solutions for perishable items, enhancing food safety and quality.
Global Food Service Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global food service packaging market is poised for a promising future with a projected upswing in demand. The escalating consumption of on-the-go food and the growing trend of food delivery services are major factors driving this growth. Additionally, the increasing awareness of sustainable and eco-friendly packaging solutions is expected to further boost the market's potential. As regulations become more stringent, the industry is likely to witness a shift towards recyclable, biodegradable, and compostable materials, fostering innovation in packaging technologies.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 81.23 billion |
| Market size value in 2031 | USD 134.92 billion |
| Growth Rate | 5.80% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Food Service Packaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Food Service Packaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Food Service Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Food Service Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Food Service Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Food Service Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Food Service Packaging Market Report Snapshots
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