Global Foodservice Packaging Market Attractiveness, Competitive Landscape and Forecasts to 2026
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Fact.MR has compiled a new report on the global foodservice packaging market. The report projects the global market for foodservice packaging to ride on an impressive 7.5% CAGR through the forecast period (2017-2026), in terms of value. Over 54,000 ‘000 tons of foodservice packaging products are likely to be sold across the globe by 2026-end.
4 Key Future Projections of Foodservice Packaging Market for the Forecast Period 2017-2026 (In Terms of Volume)
1. North America will continue to hold the largest market share, with sales pegged to exceed 15,500 ‘000 tons by 2026-end. Sales of foodservice packaging products in North America are set to exhibit the highest CAGR through 2026.
2. Foodservice packaging sales in Europe and Asia-Pacific excluding Japan (APEJ) are expected to account for nearly similar shares of the market by 2026-end. However, sales in APEJ will record a relatively faster growth than those in Europe through 2026.
3. On the basis of product type, plates will remain dominant in the market, succeeded by cups. Sales of these two foodservice packaging products are collectively estimated to exceed 21,000 ‘000 tons by 2026-end.
4. The market shares of bowls and shallow trays among products are poised to remain approximately equal by 2026-end. In addition, clamshell containers are likely to prevail as fast-selling products in the market.
North America to Remain Fast-expanding market for Foodservice Packaging
Despite mature state of foodservice packaging market in North America, the industry demand continues to witness expansion, mainly driven by high demand from foodservice settings in the U.S. Hectic and busy lifestyle of people in North America has led them to opt for ready-to-go and convenient food. In addition, proliferation in home deliveries of food products by various foodservice outlets has further created demand for food service packaging in the region. North America will prevail as the fast-expanding and the most remunerative market for foodservice packaging.
Relatively lower cost and thermoforming benefits of polyethylene terephthalate (PET, PETE, PETG or polyester) has made it the most lucrative packaging material in the market. Revenues from PET will account for the largest market share during the forecast period, in terms of value. In addition, demand for high density polyethylene (HDPE) and polyvinyl chloride will also remain significant among foodservice packaging industries on the back of their properties such as high temperature-resistance and prevention of food products from moisture.
The global market for foodservice packaging is extremely fragmented in nature, owing to the presence of a larger number of large and small vendors. The occupancy of multiple market players has created challenges for players in retaining customer’s loyalty. Vendors in this heterogeneous market are competing in terms of packaging innovation, pricing strategy, and quality. High intensity of competition between players has led them to provide customized solutions and services along with attractive loyalty-based offers for retaining high-value customers. Key foodservice packaging companies supporting the market expansion include Huhtamaki Oyj, Genpak, LLC, Linpac Packaging, Pactiv LLC, D&W Fine Pack, Sealed Air Corporation, Stanpac Inc., Smurfit Kappa Group, WestRock Company, and DS Smith.
Browse Full Report with TOC- https://www.factmr.com/report/465/foodservice-packaging-market
Table of Content:
1. Global Economic Outlook
2. Global Foodservice Packaging Market – Executive Summary
3. Global Foodservice Packaging Market Overview
3.1.1. Global Foodservice Packaging Market Taxonomy
3.1.2. Global Foodservice Packaging Market Definition
3.2. Global Foodservice Packaging Market Size (US$ Mn), Volume (‘000 Tonnes) and Forecast, 2012-2026
3.2.1. Global Foodservice Packaging Market Y-o-Y Growth
3.3. Global Plastic Containers Market Dynamics
3.4. Retail Industry- Top 250 Players Quick Statistics
3.5 Top 10 Retailers (2017)
3.6. Geographic Analysis- Retail Industry Analysis
3.7 Retail revenue growth and profitability by region/country, FY2017
4. Global Foodservice Packaging Market Supply Demand Analysis
4.1. Number of Manufacturers by Region
4.2. Production Volume by Key Players
4.3. Importer Concentration by Region
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