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
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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)
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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
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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
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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.