Food Service Packaging Market is projected to be worth US$ 100,715.0 Mn and Growing at a CAGR of 5.3% during forecast period 2021-2027

The food service packaging market was valued at US$ 63,605.3 Mn in 2018 and is projected to be worth US$ 100,715.0 Mn by 2027, growing at a CAGR of 5.3% during the forecast period.

Food service packaging includes products such as cans, bottles, jars, ampules, plastic pots, aerosol containers, and wraps, among others, to preserve food products from contamination for an extended period. It protects the food products from contamination caused by microorganisms, air, and moisture, and helps catalytic activity in fresh food. It plays an essential role in maintaining quality and keeping food safe during handling and transportation. Foodservice packaging offers a marketing medium to the food service providers and helps improve customer satisfaction levels as well as information transmission.

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Key Players:
Amcor plc.
Ball Corporation
Berry Global, Inc.
Dow Inc.
DS Smith PLC
Genpak LLC
Huhtamäki Oyj
Reynolds Group Holdings Limited
Sealed Air Corporation
WestRock Company

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The global food service packaging market is driven by factors such as rising demand for RTC and RTE food products from the end-users and utilization of automation and amendments in food safety regulations by various government organizations such as FDI. However, the complicated nature of the food service packaging supply chain is anticipated to restrain food service packaging market growth during the forecast period. The growing concerns related to environment and human health have increased the demand for recyclable reusable and eco-friendly packaging solutions, which is anticipated to offer lucrative opportunities to the food service packaging industry players.

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The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2021–2027? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Food Service Packaging market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Food Service Packaging market?
4. What are the prominent market trends influencing the development of the Food Service Packaging market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Food Service Packaging market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?

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