Food Service Packaging Market is Expected to Reach Almost US$ 97 Billion by 2031 End

Food Service Packaging

According to Fact.MR, the global food service packaging market will expand at a CAGR of around 6% from 2021-2031, surpassing US$ 97 Bn in revenue at the end of the aforementioned forecast period. Manufacturers are increasingly capitalizing on recyclable packaging trends to acquire a competitive edge in the forthcoming decade.

Historically, the market surged at above 5% CAGR, reaching over US$ 54 Bn by 2020. Growth was further accelerated with the advent of COVID-19. Mandatory quarantines issued by governments to contain infection spread led to an uptick in online ready-to-eat foodstuffs deliveries, providing a major nudge to the market.

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Key Segments Covered

  • Product type

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

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

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

    • Thermoforming-based Food Service Packaging
    • Die Cutting-based Food Service Packaging
    • Injection Molding-based Food Service Packaging

Key Takeaways from Market Study

  • By product type, single serve portion packs to accrue 30% revenue through 2031
  • By material, PET food service packaging to expand at a CAGR of approximately 6%
  • Food service packaging for bakery products acquiring significant traction by application
  • U.S food service packaging market likely to expand at 5% CAGR through 2031
  • East & South Asia to jointly contribute 50% of the global food service packaging demand
  • India and China to represent most significant expansion opportunities by country

“The growing demand for reusable plastic products in the food service sector has sent the packaging industry on a search for new technologies and sustainable packaging strategies,” says a Fact.MR analyst.

Competitive Landscape

The development of sustainable products in the market has led to higher revenue and market share. New recyclable products will contribute to a more sustainable environment.

  • Huhtamaki created a fiber lid that is used every day by millions of people to sip on their drinks while on the go. The lids are sustainable alternatives to plastic lids.
  • This type of container is made from regenerative plant fibers, contains no plastic coating, and offers a sustainable way to drink warm and chilled beverages.
  • With high-quality functional designs that have unique secure lid fittings that are suitable for paper cups and are available in different sizes, this lid helps in spill prevention.

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