At 5.76% CAGR, Food Service Packaging Market Size to Cross 67.94 Billion by 2027, Brandessence Market Research

Key Companies Covered in the Food Service Packaging market: Amcor Plc, Sealed Air Corporation, International Paper Company, Berry Global Inc., Sonoco Products Company, Huhtamäki Oyj, Graphic Packaging, WestRock Company

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Pune, India, March 02, 2021 (GLOBE NEWSWIRE) -- The global demand for Food Service Packaging market, in terms of revenue, was worth of USD 46.65 Billion in 2020 and is expected to reach USD 67.94 Billion in 2027, growing at a CAGR of 5.76% from 2021 to 2027.

Food service packaging has matured over time and includes a variety of packaging products such as bowls, plates, cups, flips, paper packaging etc. The global food service market serves a wide range of complete food service industries, including offline and online food service stores, which serve a large number of people around the world. The choice of consumers has gradually gone from the traditional method of preparing food at home to the choice of purchasing packaged products. Food service packaging is made from recyclable materials, so it requires less resource and less energy; therefore, packaging, and disposable packaging are inexpensive, and most importantly, their retail space is reduced by 35%, which makes it profitable. Due to the busy lifestyle, the demand for convenience products has increased, resulting in an increased demand for flexible and rigid packaging.

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The study provides a crucial view of the global food service packaging market by segmenting the market based on material, application, packaging type and region & country level. Based upon material, the market is segmented into plastic, metal, and others. Based upon application, the market is segmented into alcoholic beverages, non-alcoholic beverages, fruits and vegetables, dairy products, bakery & confectionery, meat & poultry, and others. Based upon packaging type, the market is segmented into paper & paperboard packaging, flexible packaging, rigid packaging, and others. 

Global Food Service Packaging Market: By Packaging Type: Container & Paper board packaging, Flexible Packaging, Rigid Plastic Packaging, Others

Global Food Service Packaging Market: By Application: Ready Made Food Service, Bakery & Confectionery, Beverages, Others

The major factors driving the demand for food service packaging are increasing demand for cost effective packaging solutions, rising preferences of consumers for convenience food and handy products, rapid urbanization and busy lifestyles that require quick & manageable packaging. According to the World Urbanization Prospects report; more than half of the world’s population now lives in urban areas increasingly in highly dense cities. Currently, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. The urban population of the world has grown rapidly from 751 million in 1950 to 4.2 billion in 2018. Globally, over 50% of the population lives in urban areas today. By 2045, the world's urban population will increase by 1.5 times to 6 billion. Fast urbanization of the world has promoted the rapid development of food packaging industry.

Key Companies Covered in the Food Service Packaging market: Amcor Plc, Sealed Air Corporation, International Paper Company, Berry Global Inc., Sonoco Products Company, Huhtamäki Oyj, Graphic Packaging, WestRock Company

Food packaging has become an increasingly indispensable basic component of the daily life, which is closely related to the global urbanization. In addition, growing demand for cost-effective packaging is also supplementing the market growth. For example;, as per the statistics from Environmental Protection Agency (EPA); the total generation of aluminum packaging was estimated to be around 1.9 million tons in 2017 and corrugated boxes occupy 12.2% of the total packaging production. Good packaging can enhance the cleanness and freshness of food, while offering branding opportunities for food manufacturers. Furthermore, good food packaging can prevent food spoilage and extend shelf life, thereby reducing waste of food. According to a study; up to 1.3 billion tons of food is wasted every year on a global scale, which can feed 1 billion people lacking in food. According to information provided by World Packaging Organization (WPO), the turnover of global packaging industry is more than $500 billion, in which food packaging a pillar area. However, food packaging is influenced by local food preferences in different countries and regions.

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The packaging type segment of food service packaging market is dominated by Container & Paper board packaging segment with the largest market share of XX.XX% in 2020. The application segment of food service packaging market report is dominated by Ready Made Food Service segment by capturing the largest market of 35.72% in year 2020.

Geographically, the regional segment of food service packaging market report is dominated by Asia Pacific by capturing the largest market of 32.36% in year 2020. Asia Pacific is expected to remain the dominant region in the market due to the removal of regulations limiting the creation of new manufacturing units of packaging products. In addition, the increasing disposable income accompanied by the growth in sedentary lifestyle of people that increase the demand for food takeaways and large consumption of fast food are also supplementing the market growth in this region. According to the National Centre for Health Statistics report; between 2013 and 2016, about 37% of U.S. adults consumed fast food on any given day. On any given day in the United States, an estimated 36.6% or approximately 84.8 million adults consume fast food. The percentage of adults who said they consumed fast food rose with family income level, according to the report. Overall, 31.7% of lower-income, 36.4% of middle-income and 42% of higher-income adults said they had eaten fast food.

The Asia-Pacific region is expected to witness the fastest growth in the global food service packaging market owing to the increasing urbanization in the developing nations. The rapidly changing consumer taste & preferences and the increasing trend for online food orders are also supplementing the market growth in this region. According to the world's urban population report, Asia is the largest of all major regions with an urbanization rate of 42.2 per cent in 2010 and it ranked as the second least urbanized major region of the world after Africa’s 40.0 percent. Asian cities are home to 1.7 billion people, nearly half the urban population of the world. This proportion is expected to increase slightly by 2020, when Asian cities will be host to 2.2 billion of the world’s 4.2 billion urban population. Between 2010 and 2020, a total 411 million people will be added to Asian cities, or 60 percent of the growth in the world’s urban population. Food packaging has become an increasingly indispensable basic component of daily life, which is closely related to the global urbanization trend.

Market Trends of Food service packaging Industry

Food service packaging market has witnessed a significant growth in the past few years. Food service packaging offers many advantages such as it markets the product, prolongs its shelf life, and facilitates long-distance transportation. It also gives consumers the chance to reduce the amount of food they throw in the trash. Single-use foodservice packaging helps to reduce the spread of infectious diseases. Food foodservice packaging allows consumers to eat anywhere and anytime. Caterers and restaurateurs use packaging best suited to keeping hot foods hot and cold foods cold. Biodegradable food packaging reduces the amount of water and energy wasted during manufacturing and disposal processes. Thus, The foodservice industry uses many kinds of packaging for a variety of purposes. Some of the major trends in the global food foodservice packaging are as follows:

A) Grab-and-Go Meals Packaging: As consumers have become a more on-the-go society, the demand for grab-and-go meals have surged as people look for healthy and quick prepared meals. Convenience stores, grocery stores, airports, schools, food halls and restaurants can cater to the needs of the ever-changing consumer. Snacking has become the new meal plan. Thus, packaging plays a huge role in getting snacks, treats, and sustenance to the customer. For example, Planglow USA’s compostable packaging is not only ideal for to-go and catering packaging, but it’s also perfect for convenience and grocery stores that offer grab-and-go meals. And Genpak offers a large variety of to go containers for packaging needs. PET containers for cold grab and go items such as cheese and meats, brownies and cookies, and sushi. Microwave safe containers for macaroni and cheese, meatballs and soups.

B) Tamper-Resistant Labeling: Customers want to know now more than ever that the food they purchased has not been tampered with especially in case of catering or food delivery. Tamper-resistant labeling is a good option in that situation. These types of security labels are designed to stop someone from accessing the contents of the container. Tamper resistant packaging is purposely more difficult and time-consuming to open. For example; SecureIt labels are tamper-resistant for to-go packaging that helps keep the customer’s food safe and untouched. Having a tamper-resistant label on the product gives peace of mind to the consumer.

C) Eco-Friendly Packaging: Eco-friendly packaging is increasingly trending in the foodservice packaging market due to its various benefits to human health as well as the environment. The packaging is frequently made of recycled or renewable materials that are safe for the environment. Additionally, there are several ways used for eco-friendly packaging such as; Eco pouch packaging canvas tote bags, compostable bowls with lids packaging, metal packaging, and eco box packaging. 

D) Using Digital Printing for Packaging: Digital printing refers to a method of printing where the image is digital-based and then applied directly to the product. It offers the brands with much more flexibility on branding and design than manual typesetting. It is less time-consuming method than offset printing which requires setup and plates. Thus, most packaging companies have already switched to digital printing within the last decade.

E) Increased Portability: Number of people has been increasingly doing jobs in recent year due to this they are constantly looking for food options that are easier to grab, hold, eat, or carry. To fulfill consumer demands, players are placing extra effort into making food packaging portable. For example; McDonald’s, launched the McBike package. In this, they specially concentrated on those looking to take their fast-food on the go and specific to cyclists. This McBike is design for transporting, burger and fries.

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F) Personalization Packaging: Personalization is related to optimization, so packaging properties can be greatly improved. Personalization in food packaging is one of the major trends. For example; Frito-Lane announced that it would personally donate 1 million bags of Leah's potato chips, along with photos of its own "favorite summer moments”. Additionally, exceptional packaging materials are also gaining popularity as evidenced by Frito-Lay’s UV-active packaging, which changes color when exposed to sunlight. On the design side, simplicity and authenticity have also become increasingly popular to help portray a more luxurious or high-end image. Manual customization can include the use of custom bags, boxes, stickers or gift tags to enhance brand recall and demand.

G) Sustainability: In the recent years, awareness about eco-friendly food service packaging has shifted toward sustainable solutions. Sustainability means everything need for survival and well-being depends directly or indirectly on the environment. Additionally, various brands are increasingly launching their eco-friendly food service packaging such as eco-products, in this all-eco-product items are made through recycling sources or recycled materials after each customer with their own environmental benefits. Compostable food rice packaging is made from renewable sources and can help divert this waste from landfills as it allows customers to keep their packaging and food waste in a bin. Dubl-Shield, this is fully reusable food wrappers and bags used to wrap burgers and sandwiches have been replaced with aluminum foil. The double-shield was developed in response to the demand for recyclable foil options.

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