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(IT-NEWSWIRE.COM, November 28, 2018 ) With growing health-consciousness among consumers worldwide, a large number of commercial and non-commercial foodservice outlets that serve healthy and nutritious meals have emerged over the past few years, helping consumers in curtailing their calorie intake. This has further created the need for effective packaging in these foodservice outlets. In addition, growing preference for ready-to-eat food, changing consumer demand patterns regarding food packaging, and rising emphasis on use of convenient packaging have driven the demand for foodservice packaging.
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Vendors in the foodservice packaging market are introducing innovative packaging products for takeaway and home delivery food. These vendors are implementing several innovations in foodservice packaging such as compostable packaging and biodegradable packaging. Recently, corrugated packaging has gained immense traction in the foodservice industry on the back of its thermal properties, the ability to retain freshness of food products for extended duration, and preventing food from releases & spills. Additionally, many players have started introducing sustainable packaging products, meanwhile continuously working on recyclable and reusable packaging materials.
9 Key Future Projections of Foodservice 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 foodservice packaging products in North America are set to exhibit the highest CAGR through 2026.
Foodservice 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 foodservice 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. Foodservice 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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Competition Tracking
The global market for foodservice packaging is extremely fragmented in nature, owing to the presence of a larger number of large and small vendors. The occupancy of multiple market players has created challenges for players in retaining customer’s loyalty. Vendors in this heterogeneous market are competing in terms of packaging innovation, pricing strategy, and quality. High intensity of competition between players has led them to provide customized solutions and services along with attractive loyalty-based offers for retaining high-value customers. Key foodservice packaging companies supporting the market expansion include Huhtamaki Oyj, Genpak, LLC, Linpac Packaging, Pactiv LLC, D&W Fine Pack, Sealed Air Corporation, Stanpac Inc., Smurfit Kappa Group, WestRock Company, and DS Smith.
Table of Content:
Global Economic Outlook
Global Foodservice Packaging Market - Executive Summary
Global Foodservice Packaging Market Overview
3.1. Introduction
3.1.1. Global Foodservice Packaging Market Taxonomy
3.1.2. Global Foodservice Packaging Market Definition
3.2. Global Foodservice Packaging Market Size (US$ Mn), Volume (‘000 Tonnes) and Forecast, 2012-2026
3.2.1. Global Foodservice Packaging Market Y-o-Y Growth
3.3. Global Plastic Containers Market Dynamics
3.4. Retail Industry- Top 250 Players Quick Statistics
3.5 Top 10 Retailers (2017)
3.6. Geographic Analysis- Retail Industry Analysis
3.7 Retail revenue growth and profitability by region/country, FY2017
3.8. Product Sector Analysis
3.9 Retail revenue growth and profitability by region/country, FY2017
3.10. Retail revenue growth and profitability by primary product sector, FY2017
3.11. Top 10 Upcoming Retail Outlets
3.12. Global Retail Development Index 2017
3.13. Supply Chain of Plastic Containers Market
3.14. Cost Structure of Plastic Containers Market
3.15. Porter’s Five Forces analysis
3.16. Product Life Cycle of Plastic Containers Market
3.17. Key Participants Market Presence (Intensity Map) By Region
Global Foodservice Packaging Market Supply Demand Analysis
4.1. Number of Manufacturers by Region
4.2. Production Volume by Key Players
4.3. Importer Concentration by Region
Pricing Point Analysis
5.1. Price Point Assessment by Region
5.2. Price Point Assessment by Product Type
Continued……………..
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About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market Insights reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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