According to a new market report published by Lucintel, the future of the food service packaging market looks promising with opportunities in alcoholic beverages, non-alcoholic beverages, fruits & vegetables, and bakery & confectionery packaging. The global food service packaging market is expected to grow with a CAGR of 4%-6% from 2020 to 2025. The major drivers for this market are cost-effectiveness of food service packaging, requirement of downsizing of packaging, and rising demand for convenience food.
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Food service packaging is a type of packaging which is used to store processed and semi-proccessed food items. In this market, flexible, rigid, and paper & paperboard are the major packaging types of food service packaging. Lucintel forecasts that flexible food service packaging will remain the largest type segment over the forecast period, as there is an increasing demand for sustainable packaging.
Within this market, fruits & vegetables will remain the largest application segment over the forecast period due to increasing demand for ready-to-cook vegetables, including microwave meals and demand for preserving the nutritional value of fruits, while providing an extended shelf life.
Asia Pacific will remain the largest region, and it is also expected to witness the highest growth over the forecast period due to growing developmental activities, rapid economic expansion, and growing population in the region’s countries which presents a large customer base for fast moving consumer goods (FMCG) products and consumer durables.
Amcor, The Dow Chemical Company, Bemis, Westrock, Sealed Air, International Paper, Reynolds, DS Smith, Huhtamaki, and Berry Plastic are among the major suppliers in the global food service packaging market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global food service packaging market by material, packaging type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Food Service Packaging Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global food service packaging market by material, packaging type, application, and region as follows:
By Material [Value ($ Million) shipment analysis for 2014 – 2025]:
By Packaging Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Flexible
Rigid
Paper & Paperboard
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Alcoholic Beverages
Non-Alcoholic Beverages
Fruits & Vegetables
Bakery & Confectionery
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Spain
Germany
France
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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