[Research Report] The food service packaging market was valued at US$ 86,372.08 million in 2021 and is projected to reach US$ 129,728.93 million by 2028; it is expected to grow at a CAGR of 5.4% from 2021 to 2028.
Food service packaging includes products used for the service or packaging of prepared foods and drinks in eat-in, takeaway food service establishments and home delivery. Food service packaging products include hot and cold beverage cups, plates, trays, bowls, bags (single service and takeaway), containers and lids, cutlery and utensils, ice cream cups, soup cups, and beverage carriers. These products protect the food products from contamination caused by microorganisms, air, and moisture.
In 2020, Asia Pacific held the largest revenue share of the global food service packaging market. High demand for food service packaging products from full service restaurants, cafes, etc., is mainly driving the food service packaging market in Asia Pacific. Online food ordering is increasing in the region due to the convenience offered by these platforms, which also creates a huge demand for different food service packaging products. China and India are among the major countries in Asia Pacific for the market. In India, the growing trend of eating out among the urban population is fueling the market growth in the country.
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Food Service Packaging Market: Strategic Insights
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Food Service Packaging Market: Strategic Insights
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Impact of COVID-19 Pandemic on Food Service Packaging Market
The COVID-19 pandemic affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. The pandemic disturbed manufacturing processes due to restrictions imposed by government authorities in various countries. The rapid spread of COVID-19 posed unprecedented challenges to the food service industry. The closure of restaurants, bars, and clubs due to social distancing policies in various countries across the globe has negatively impacted the demand for food service packaging products.
However, the growing takeout and online food ordering has created opportunities for restaurants. The economies started reviving their operations in 2021. With the opening of restaurants, bars, clubs, and other food service outlets, the demand for different food service packaging products is further rising.
Market Insights
Proliferation in Production Capacity of Packaging Products
The rising consumer interest in consuming fresh products with an extended shelf-life and controlled quality is creating the demand for food packaging products. This factor helps food packaging manufacturers design and develop new and safe packaging. Further, the rising population puts extra pressure on food production sectors to adopt enhanced food packaging solutions to reduce food wastage. Hence, the current approach to improving the food industry aims to lower food damage and wastage by making important investments in developing novel and innovative technologies for food packaging.
Material Insights
Based on material, the global food service packaging market has been segmented into plastic, metal, and others. The plastic segment held the largest share in the global food service packaging market in 2020. Plastic packaging is a flexible form of packaging. It allows food service providers to customize shape, style, and size of the packaging as per their customers’ requirements. Plastic packaging is preferred in the food service industry as it is lightweight. These benefits of plastic packaging have attracted customers from the food service industry. Hence, the market for plastic foodservice packaging is witnessing a surge.
Application Insights
Based on application, the global market has been segmented into beverages, prepared meals, fruits and vegetables, bakery and confectionery, dairy products, and others
.
The prepared meals segment held the largest share in the global food service packaging market in 2020. Bio-based and biodegradable plastic and aluminum are used for the packaging of prepared meals.Tray sealing, thermoforming, stand-up pouches, retort packaging & pouches, self-heating tins, and stretch films are used, and they help customize the package presentation of the food.Graphic Packaging International, LLC; Amcor PLC; Cambay Technopack Private Limited; Huhtamaki Global; AR Packaging; WestRock Company; Genpak, LLC; Vegware Ltd; BeGreen Packaging; and Stora Enso are among the major players operating in the global food service packaging market. Players operating in the global food service packaging market are constantly focusing on strategies such as investments in research and development activities, new product launches, and mergers & acquisitions. Market players focus on providing high-quality products to fulfill customer demand.
Report Spotlights
- Progressive industry trends in the food service packaging market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the food service packaging market from 2019 to 2028
- Estimation of global demand for food service packaging
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the food service packaging market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the food service packaging market at various nodes
- Detailed overview and segmentation of the market, as well as the food service packaging industry dynamics
- Size of the food service packaging market in various regions with promising growth opportunities
Food Service Packaging Market Regional Insights
Food Service Packaging Market Regional Insights
The regional trends and factors influencing the Food Service Packaging Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Food Service Packaging Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Food Service Packaging Market
Food Service Packaging Market Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 86.37 Billion |
| Market Size by 2028 | US$ 129.73 Billion |
| Global CAGR (2021 - 2028) | 5.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Material
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Food Service Packaging Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Food Service Packaging Market are:
- Graphic Packaging Holding Company
- Amcor plc
- Huhtamaki
- WestRock Company
- Genpak, LLC
Disclaimer: The companies listed above are not ranked in any particular order.
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Global Food Service Packaging Market
Material
- Plastic
- Metal
- Others
Packaging Type
- Flexible
- Rigid
Application
- Beverages
- Prepared Meals
- Fruits and Vegetables
- Bakery and Confectionery
- Dairy Products
- Others
Company Profiles
- Graphic Packaging International, LLC
- Amcor PLC
- Cambay Technopack Private Limited
- Huhtamaki Global
- AR Packaging
- WestRock Company
- Genpak, LLC
- Vegware Ltd
- BeGreen Packaging
- Stora Enso
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, Packaging Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global food service packaging market is highly competitive owing to the presence of several regional and global players. Players compete with each other based on product quality and prices.
In 2021, Asia Pacific held the largest share of the global food service packaging market. The food service packaging market in Asia Pacific is driven by rise in number of food chains in the region, rise in disposable income of individuals, a growing preference towards fast food services, etc. factors.
Some of the major players operating in the global food service packaging market include Graphic Packaging Holding Company; Amcor plc ; Huhtamaki; WestRock Company; Genpak, LLC; BeGreen Packaging; Stora Enso; Berry Global Inc.; Sealed Air; and Ball Corporation.
Asia Pacific is estimated to register the fastest CAGR in the global food service packaging market over the forecast period. Rapid infrastructure growth, including new airports and expressways in the region, has given scope to various food chains to set up their outlets, creating demand for the food service packaging in the region.
The plastic segment held the largest share of the global food service packaging market in 2021. Plastic packaging is preferred in the foodservice industry as it is light-weight. Furthermore, the plastic packaging products used in food packaging are easy to transport.
The global food service packaging market is primarily driven by proliferation in production capacity of packaging products and changing customer preferences for high-quality and standard products.
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The List of Companies - Food Service Packaging Market
- Graphic Packaging Holding Company
- Amcor plc
- Huhtamaki
- WestRock Company
- Genpak, LLC
- BeGreen Packaging
- Stora Enso
- Berry Global Inc.
- Sealed Air
- Ball Corporation
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