Demand for Reusable and Recyclable Containers to Spur the Food Service Packaging Market Growth

DUBLIN, IRELAND, March 9, 2022 /EINPresswire.com/ -- 250 Pages Food Service Packaging Material Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider

Latest industry survey by Fact MR, predicts sales of Food Service Packaging Material 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 Material 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 Material. 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 Material 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 Material 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 Material

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

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Key Segments Covered

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

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

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

Fabrication Type
Thermoforming-based Food Service Packaging Material
Die Cutting-based Food Service Packaging Material
Injection Molding-based Food Service Packaging Material

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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 Material 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 Material 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 Material products in North America are set to exhibit the highest CAGR through 2026.

- Food Service Packaging Material 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 Material 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 Material 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.

Report Benefits & Key Questions Answered

- How much is the Food Service Packaging Material industry worth?
As of 2020, the market for Food Service Packaging Material was valued at above US$ 54 Bn

- What was the last 5 years CAGR for Food Service Packaging Material?
From 2016 to 2020, Food Service Packaging Material demand rose at over 5% CAGR

- What is the future outlook for Food Service Packaging Material demand?
Fact.MR expects the demand for Food Service Packaging Material to reach nearly US$ 97 Bn by 2031, expanding at over 6% CAGR

- Which are the most opportunistic growth regions for Food Service Packaging Material?
East Asia and South Asia are collectively expected to account for over 50% of global market demand for Food Service Packaging Material

- Which company is leading the packing industry?
Amcor Plc. is a global leader offering sustainable packaging solutions for the F&B industry

More Valuable Insights on Food Service Packaging Material Market

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

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