Food Service Packaging (FSP) Market Growth, Demand and Key Players to 2025
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Global Food Service Packaging (FSP) Market: Market Dynamics
The global foodservice packaging market is witnessing an emerging trend towards sustainable packaging solutions. The global foodservice packaging market consumes billions of units of single use packaging products. Disposability of these packaging products becomes a matter of concern for foodservice companies. Further, environmental policies of the company also play an important role in maintain positive perception among environmental consciousness customers.
As per product type plastic and paper plates have emerged as a business segment with high volume growth. Plastic and paper plates are consumed globally in every region in enormous volume due to their abundant production capacities and cheaper costs.
Different packaging products cater differently to various foodservice packaging application such as foodservice outlets, takeaway meals, on the go breakfast packaging, institutional foodservices, online food ordering, etc. Consumption at foodservice outlets constitute a larger portion of the foodservice packaging market. However, the market is anticipated to witness a growing trend towards on the go and takeaway food habits. Busy lifestyle among urban population and growing number of singles in developed countries is expected to fuel the growth of global foodservice packaging market. On the go breakfast and pizza packaging has emerged as high growth market segments in the global foodservice packaging market. The global market for on the go breakfast packaging is estimated to generate more than half a billion in revenues for the year 2017.
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Global Food Service Packaging (FSP) Market: Regional Outlook
Geographically the global food service packaging (FSP) market is segmented into 7 key regions including North America, Latin America, Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East and Africa (MEA).
Global Food Service Packaging (FSP) Market: Key Players
Some of the players operating in the food service packaging (FSP) market include Huhtamaki Oyj, Genpak, LLC, Linpac Packaging, Pactiv LLC, D&W Fine Pack, Gold Plast SPA, Stanpac Inc., Biodegradable Packaging for Environment Co., Ltd., Smurfit Kappa Group, WestRock Company, DS Smith, New Method Packaging, Southern Champion Tray, Magnum Packaging, Michigan Box Company, International Paper Company, and Golden Box Ltd.
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