Food Service Packaging Market is Expected to Reach Almost US$ 97 Billion by 2032 End

According to Fact.MR, the global food service packaging market will expand at a CAGR of around 6% from 2021-2031, surpassing US$ 97 Bn in revenue at the end of the aforementioned forecast period. Manufacturers are increasingly capitalizing on recyclable packaging trends to acquire a competitive edge in the forthcoming decade.

Historically, the market surged at above 5% CAGR, reaching over US$ 54 Bn by 2020. Growth was further accelerated with the advent of COVID-19. Mandatory quarantines issued by governments to contain infection spread led to an uptick in online ready-to-eat foodstuffs deliveries, providing a major nudge to the market.

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Key Takeaways from Market Study
By product type, single serve portion packs to accrue 30% revenue through 2031
By material, PET food service packaging to expand at a CAGR of approximately 6%
Food service packaging for bakery products acquiring significant traction by application
U.S food service packaging market likely to expand at 5% CAGR through 2031
East & South Asia to jointly contribute 50% of the global food service packaging demand
India and China to represent most significant expansion opportunities by country

Key Segments Covered

Product type

Food Service Packaging for Plates
Food Service Packaging for Shallow Trays
Food Service Packaging for Cups
Food Service Packaging for Bowls
Food Service Packaging for Bottles
Food Service Packaging for Cans
Food Service Packaging for Single Serve Portion Packs
Food Service Packaging for Clamshell Containers (Hinge Lid Containers)
Food Service Packaging for Two Piece Containers (Separate Lid Containers)
Food Service Packaging for Others (Foil, Paper and Pouches)
Packing Material
Polyethylene Terephthalate (PET, PETE, PETG or polyester) Food Service Packaging Material
High Density Polyethylene (HDPE) Food Service Packaging Material
Polyvinyl Chloride (PVC) Food Service Packaging Material
Low Density Polyethylene (LDPE) Food Service Packaging Material
Polypropylene (PP) Food Service Packaging Material
Polystyrene (PS) Food Service Packaging Material
Aluminum Food Service Packaging Material
Clay Coated Cardboard Food Service Packaging Material
Molded Fiber Food Service Packaging Material

Application Type

Packaging for Foodservice Outlets
Food Service Packaging for Bakery Products
Food Service Packaging for Takeaway Meals
Food Service Packaging for On-the-Go Breakfast
Food Service Packaging for Institutional Food Services
Food Service Packaging for Online Food Ordering
Food Service Packaging for Dairy Products
Food Service Packaging for Alcoholic Beverages
Food Service Packaging for Ready to Drink Beverages
Food Service Packaging for Other Applications

Fabrication Type

Thermoforming-based Food Service Packaging
Die Cutting-based Food Service Packaging
Injection Molding-based Food Service Packaging

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Competitive Landscape

Mergers and acquisitions, partnerships, and the development of new products are just some of the strategies used by market players to stay competitive and expand their market footprints in the industry.

On March 12, 2021, Imperial Dade acquired Cosgrove Enterprises, Inc. This acquisition will help the company solidify its position as a premier distributor of specialty products. As a result of this acquisition, the firm is strengthening its presence in the southeast of the U.S.
On 26 July 2021, Graphic Packaging unveiled OptiCycle, an alternative to traditional PE and polylactic acid-coated products foodservice packaging. A single-use food service packaging that is easily recyclable and the first of its kind to be commercially available by a domestic supplier in North America.

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Key Questions Answered in Report

Which are the most lucrative markets for Food Service Packaging Market?
Which factors will impact the growth of the Food Service Packaging Market?
How will changing trends impact the strategies of market players?
How can market players capture the low-hanging opportunities across regions?
Which companies are leading the Food Service Packaging industry?
What are the winning strategies of stakeholders in the Food Service Packaging Market?

The report answers important questions which include:

Why is player leading the in region?
Which factors pose a negative impact on the growth?
What was the value registered in 2022?
What challenges do the players face during R&D stages?
Which countries contribute a significant share to the total revenue in region?

How can Fact.MR Make Difference?

In-depth understanding of key industry trends shaping the present growth dynamics
Offers value chain analysis and price trend analysis of various offering of competitors
Offers data-drive decision to help companies decide strategies that need recalibration
Offers insights into areas in research and development that should attract
Identifies data outliers before your competitors

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