Harrisburg, NC -- (SBWIRE) -- 10/27/2020 -- The Global Food Service Packaging Market Research Report 2020-2025 research report offers an in-depth evaluation of each crucial aspect of the Global Food Service Packaging industry that relates to market size, share, revenue, demand, sales volume, and development in the market. The report analyzes the Food Service Packaging market over the values, historical pricing structure, and volume trends that make it easy to predict growth momentum and precisely estimate forthcoming opportunities in the Food Service Packaging Market. The report explores the current outlook in global and key regions (North America, Europe, Asia-Pacific, and Latin America) from the perspective of players, countries (U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc.), product types, and end industries.
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Global Major Players in Food Service Packaging Market are:
Amcor Limited, Sealed Air Corporation, International Paper, Berry Global, Inc., Bemis Company Inc., Sonoco Products Company, and others.
The food service packaging market was estimated at USD 53.21 billion in 2019. This market is expected to reach USD 90.87 billion by 2025, recording a CAGR of 10.14% during the forecast period of 2020-2025.
Market Overview:
Owing to the rising demand for quick-service restaurants (QSR) coupled with consumer preferences for on-the-go consumption, and propelling e-commerce due to rise in delivery applications, the market for foodservice packaging is growing rapidly.
- Growth in urban population and the consequent increase in demand for processed and prepared food have a significant impact on the growth of the market. For Instance, in the United Kingdom, Just Eat plc reported that household expenditure on takeaways increased from GBP 10.1 billion in 2017 to GBP 10.4 billion in 2018 and is further expected to reach GBP 11.2 billion by 2021.
- Food service has grown to become a major part of consumer spending. As this trend increases, packaging plays a key role in ensuring food safety and providing convenience to consumers. For instance, proper package labeling allows food preparers to know the source of food, its proper holding temperature, and the adequate cooking needed.
- Increase in stringent rules and regulation from government adhering to quality standards is hindering the market growth.
Scope of the Report:
The major packaging products in the food service industry are boxes, bags and wraps, bottles, and plastic containers which include cups, plastic bottles, trays. The other products included in the scope of the study are paper trays and films used as supportive packaging. Besides mentioned applications of these packaging products, other applications include frozen desserts and other food products.
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What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Food Service Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Customization of this Report: This Food Service Packaging market report could be customized to the customer's requirements. Please contact our sales professional (sales@marketintelligencedata.com), we will ensure you obtain the report which works for your needs.
The research includes historic data from 2015 to 2020, and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs
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Market Intelligence Data provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc., Market Intelligence Data provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.