Food Service Packaging Market is Driven By Healthcare Industries

Over the past few years, the global packaging industry has improved significantly with the significant rise in sales of packaging containers and technologies.

The need for packaging is gaining traction across various end-use industries such as healthcare, food & beverage, cosmetics etc. Packaging has turned out to be the most important element in the global economy which is expected to witness an impressive CAGR of above 4% over the forecast period.

Growing demand for food & beverage market along with changing lifestyle has been instrumental in boosting overall demand packaging in the segment. Food & beverage accounts roughly 50% of the global consumer packaging industry, which in turn has boosted overall foodservice packaging market worldwide.

Food service packaging involves two types of packaging namely primary packaging and secondary packaging. The level of packaging offers increased resistance from microbial contamination. Henceforth, preserves the food for longer period and reduces the product degradation. Foodservice packaging is expected to witness healthy growth over the forecast period.

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The growing trend of processed food has been increasing the demand of food service packaging market among the consumers. Furthermore, the manufacturers are more focused on the environmental attributes of containers which is driving the demands of products that can be recycled further.

Henceforth, it leads to changing consumers preferences. The manufacturers focuses on expanding its global footprints in the packaging industry through various mergers/ acquisitions, is also expected to drive overall sales of foodservice packaging products.

Easy availability of raw materials such as polypropylene along with lower production cost has also boosted overall demand for food packaging across various end-use segments including restaurants. The trend is quite prominent in Asia Pacific. There has been a noted increase in overall units of restaurants in Asia Pacific. However, this trend is also visible in MEA especially GCC countries.

Although, the global food service packaging is gaining demand but is marked by constrain factors such as high presence of non–biodegradable plastics in packaging that could affect health and life of not only humans but other species too.

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This release was published on openPR.