Key objective of global food service packaging report is to provide companies with a summary of latest trends and lucrative business expansion opportunities for food service packaging manufacturers, suppliers, and distributors. Report also demonstrates key business strategies and principles adopted by key players around world.
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The market for food service packaging is estimated to grow from USD 65.36 Billion in 2017 to reach USD 84.33 Billion by 2022, at a CAGR of 5.23%. Providing weightage for the share and calculation were conducted on basis of extensive primary interviews and secondary research from a variety of sources like Association for Packaging and Processing Technologies, the Packaging Industry Association of India (PIAI), and the European Carton Makers Associations. Primary research involved in this report includes extensive interviews with key people such as CEOs, VPs, directors, and executives.
2 Dynamic, Innovators, Vanguards, and Emerging
7 Product Offerings
8 Business Strategy
In terms of application, food service packaging market is segmented into alcoholic beverages, non-alcoholic beverages, fruits & vegetables, dairy products, bakery & confectionery, meat & poultry, and others (convenience food & processed food). Alcoholic beverages segment accounted for largest share in the 2016. However, non-alcoholic beverages segment projected to grow at highest CAGR during the forecast period. Growth in demand for energy drinks, soft-drinks, & juices has propelled the market for food service packaging.
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In terms of region, food service packaging market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Asia-Pacific region is projected to grow at highest CAGR among all regions by 2022. This is mainly due to emerging economies such as China, Southeast Asian countries, and India, urbanization, increase in fast food culture; and stable PEST (political, economic, social, and technological) conditions.
1 Cost-Effectiveness of Food Service Packaging
2 Downsizing of Packaging
3 Rising Demand for Convenience Food
4 On-The-Go Lifestyles to Impel Growth of Food Service Packaging Technology & Equipment Market
Food service packaging market mediums are lightweight and cost-effective. However, the lack of awareness regarding food service packaging poses as a potential restraint in the food service packaging market. Strategies such as mergers & acquisitions, expansions, and new product launches were largely adopted by most of the players in this market.
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The food service packaging market has been segmented into three types, namely, flexible, paper & paperboard, and rigid. Flexible segment led demand for packaging in food service packaging in 2016 and is projected to grow at highest CAGR from 2017 to 2022.
Reasons to buy the report
- The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the food service packaging market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
- The report helps stakeholders to understand the market and provides them information on key market drivers, restraints, opportunities, and challenges.
- This report will help stakeholders to better understand their competitors and gain more insights into their position in the business. The competitive landscape section includes mergers & acquisitions, expansions, and new product launches.