Foodservice Disposables Market Expected to Be Valued US$ 27,187 Mn by 2021
Foodservice business is witnessing an impressive growth. Increasing online channels and apps for food delivery services are resulting in the growing demand for foodservice disposables like cups, plates, containers, etc.
New York, NY -- (SBWire) -- 04/26/2018 --Foodservice disposables are being used on a large scale with the increasing consumption of the processed foods. The rising trend of ready-to-eat food products is also playing an important role in fueling the growth of the global foodservice disposables market.
Various materials such as plastic, paper, and aluminum are used for producing foodservice disposables. However, increasing demand for eco-friendly products by customers and various initiatives taken by government of various countries is resulting in the growth of the adoption of eco-friendly raw materials and recyclable materials. All these factors are contributing to the growth of the global market for foodservice disposables.
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Foodservice disposables are also finding increasing demand in the food outlets to serve a variety of food items. The growth in snacks and coffee shops across the globe is driving the demand for disposable cups, plates and bowls. Meanwhile, in order to reduce wastage, shops are also offering reusable cups and plates to minimize the wastage.
Takeout and catering services are also increasing, especially in the catering services offered by restaurants higher value and special plastic containers are used as along with providing food, the appearance of the container is also important to make it look attractive. Foodservice providers have also started providing cups, plates and containers with customized designs and prints including name and logo of the foodservice provider.
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According to the report by Persistence Market Research, the global foodservice disposables market is likely to see steady growth during the forecast period 2017-2021. The global market for foodservice disposables is projected to bring in more than US$ 27,000 Million revenue by the end of 2021.
Plates to Emerge as the Largest Used Foodservice Disposables Product
Based on the product type, plates are likely to account for the highest growth in the global foodservice disposables market. By the end of the forecast period, plates are estimated to exceed US$ 8,000 Million in terms of revenue.
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On the basis of raw materials, plastic is expected to be used on a large scale in producing foodservice disposables during 2017-2021. Plastic as a raw material is projected to surpass US$ 13,000 Million revenue towards the end of 2021.
By end use, restaurants are expected to emerge as the largest end users of foodservice disposables throughout the forecast period. By the end of 2021, restaurants are estimated to bring in more than US$ 9,000 Million revenue.
Asia Pacific to Remain Dominant in the Global Market for Foodservice Disposables
Asia Pacific (APAC) is expected to dominate the global foodservice disposables market during 2017-2021. By 2021 end, Asia Pacific is projected to exceed US$ 12,000 Million in terms of value. India and China are likely to drive the market for foodservice disposables in Asia Pacific. Increasing number of full-service restaurants and rising demand for catering services are some of the factors driving the demand for foodservice disposables in the Asia Pacific region.
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Key Players in the Global Market for Foodservice Disposables
Dart Container, Georgia Pacific, Huhtamäki Oyj, D&W Fine Pack LLC, Bemis, Berry Plastics, Anchor Packaging, and Pactiv LLC, are some of the key companies operating in the global foodservice disposables market.
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