(Food-Beverage-News.Com, September 06, 2017 ) According to Publisher, the Global Food Service Packaging Market is valued at $63.32 billion in 2016 and is expected to reach $103.51 billion by 2023 growing at a CAGR of 7.33% from 2016 to 2023. Growth in demand for ready-to-eat food, changes in consumer demand patterns towards packaging and prevalence of using convenient packaging are the factors favouring the food service packaging market growth. On the other hand, the lack of awareness regarding food service packaging is hampering the market growth.
By material type, plastics segment dominated the food service packaging market with major market share due to its low cost for the manufacture of disposable foodservice products. In addition, Paper & paperboard segment is expected to grow at a faster rate during the forecast period as a result of increasing consumer affection towards sustainable materials. Asia Pacific region holds the largest share in Food Service Packaging market due to rapid urbanization and increase in fast food culture in emerging economies such as China, Southeast Asian countries, and India. However, North America is expected to witness the highest CAGR during the forecast period owing to the changing life styles of the people.
Some of the key players in the market include Huhtamaki Oyj, Linpac Packaging , Pactiv LLC, D&W Fine Pack, Gold Plast SPA, Genpak, LLC , Stanpac Inc., Smurfit Kappa Group, WestRock Company, DS Smith, New Method Packaging, Southern Champion Tray, Magnum Packaging, Golden Box Ltd, Michigan Box Company, International Paper Company.
Packaging Type Covered: -Flexible Packaging -Foil, Paper and pouches -Bags -Other Flexible packagings -Rigid Packaging -Plastic Containers -Paperboard Boxes and containers -Other Rigid Packagings -Other Packagings Material Type Covered: -Plastic -Polystyrene (PS) Expanded PS Rigid PS -Polyethylene -Poly lactic Acid (PLA) -Polyethylene Terephthalate -Polypropylene -Aluminium -Fiber Based -Clay Coated Cardboard -Molded Fiber -Corrugated Paperboard F Flute B Flute E Flute
Application Covered: -Fruits & Vegetables -Dairy Products -Beverages -Bakery & Confectionery Fabrication Process Covered: -Die Cutting -Thermoforming -Injection Molding End Users Covered: -Online Food Ordering -Foodservice Outlets -Takeaway Meals -Institutional Foodservices -Bakery & Confectionery -On the Go Breakfast -Restaurants -Dairy Products -Other End Users
Regions Covered: -North America -US -Canada -Mexico -Europe -Germany -U.K -France -Italy -Spain -Rest of Europe -Asia Pacific -Japan -China -India -Australia -New Zealand -South Korea -Rest of Asia Pacific -South America -Argentina -Brazil -Chile -Rest of South America -Middle East & Africa -Saudi Arabia -UAE -Qatar -South Africa -Rest of Middle East & Africa
