An increase in the overall consumption of products across the globe has resulted in a fluctuation in the prices of packaged goods. The variety in demand for packaging solutions brings into play a key role for classifying the products on the basis of their function in protecting the goods and their appearance-enhancing attributes. The global packaging industry remains at the cusp of miscellany with a wide range of packaging formats converged across multiple applications.
Variety in packaging materials, types, and technologies helps the packaging industry provide innovative, safe, and sustainable packaging solutions for different products. Training professionals on new packaging techniques is being widely exercised for bringing uniformity in the expertise of plant operators, engineers and other employees working in packaging businesses. Non-governmental, non-profit international federations for packaging businesses such as the World Packaging Organization are signing agreements with companies and governments towards extending the purview of packaging education & training, particularly in developing countries. Apart from sustainability, recyclability remains a key trend in the global packaging industry. The influence of environmental safety agencies on all sorts of packaging businesses continues to remain evident. Furthermore, stringent laws regarding the usage of synthetic materials and management of industrial waste are caving the manufacturing extent of packaging products. As a result, food service packaging is gaining traction across the globe.
Food service outlets to increasingly use advanced packaging formats
Food service operators offer various services such as ‘drive through’ and ‘takeaway’ to cater to an increasing number of on-the-go consumers. This is surging the growth of the foodservice disposables market across the globe. With a growing working population and increasing urbanization, these food formats are expected to gain popularity among millennial consumers. This in turn is projected to significantly drive demand for foodservice disposables over the next five years. Consumer preferences for takeaway or ready to eat food is increasing owing to changing lifestyles, growing disposable income, and rapid urbanization, especially in emerging economies. Moreover, corporate work culture leading to out of home food habits is also strengthening demand for foodservice disposables. Foodservice disposable manufacturers are focused on offering disposables with enhanced properties such as improved heat- and cold-resistance and anti-fogging. One such product with enhanced functional properties was adopted by McDonald’s Corp. and Starbucks in early 2012 for serving hot beverages.
Use of online food services to boost demand for foodservice packaging
There has been a dynamic shift in the consumption pattern of consumers in the food and beverages sector. On an average, online food delivery platforms in emerging countries such as India offer over 40% return on investment. This is leading to intense competition across food delivery platforms among food service companies, which offer lucrative opportunities for manufacturers of food disposables. Moreover, the rise of quick service order restaurants will also heighten the use of foodservice packaging. Rising number of multinational quick service restaurants (QSR) worldwide is leading to a surge in demand for foodservice disposables. Such food service restaurants do not invest in resources for cleaning and maintenance of serving containers. This helps chain operators reduce labor costs and utilize the existing pool of resources on enhancing the quality of food and to facilitate better and superior customer support, thus benefiting the market in return.
A new report on foodservice packaging provides perceptive insights on the chronological growth flight of the market along with the future prospects and present scenario of the global market. The report offers an exclusive analysis of the market and also presents insights on regional and other key segments.
Foodservice Packaging Market: Overview
The report offers a complete summation of the market including an official abstract that draws out the various forces operating in the market. It also discusses on a couple of facets, for example, drivers, obstacles, and predictions that are currently influencing the global market. It also acquaints readers with figures related to volume, value, and development rate of the market from a growth point of view. With respect to market segmentation, each segment is analysed and presented in detail in the report. It also gives an assessment in light of the market condition, and moreover presents a value chain analysis of the products and applications in concern. A year to year progression of the market has likewise been offered in the report for the reader to be predominantly aware of the altering scenario of the market.
Foodservice Packaging Market: Segmentation
By Product Type
By Base Material
By Fabrication Process
By End Use Industry
Foodservice Packaging Market: Research Methodology
The report is the end result of the careful and extensive research work of the market analysts employing reliable sources. The information introduced has been studied carefully by industry experts. The data that has been presented here has been assembled from various tried and tested sources. The figures have also been checked by the analysts and can be used to settle on key decisions and to formulate strategies. The researchers have also used Porters Five Forces analysis for further analysis and study of the market.
Foodservice Packaging Market: Competitive Scenario
The market study conveys a structural outlook on the engaged scene of the overall foodservice packaging market. It features the competition predominant among the present vendors in the market and also puts weight on the future circumstances of the market. The profile of the players is based on a SWOT examination sought down by company angle, product portfolio, strategies, finance related information, and year-to-year projections. The organisations have been explored minutely covering their key developments, innovations as well as mergers and acquisitions and agreements with other prominent establishments.
Why should our report be purchased?
The reports_bk_01_01_2020 made by our industry analysts are credible and have been researched and validated from several primary and secondary resources. What makes us unique is the fact that along with presenting an analysis of the market’s historical and present scenario, we also present a forecast review of the market for the benefit of our readers. The presentation is exclusive in the form of various charts, tables, and diagrams. Every bit of information present in the market research report is unique. Expert opinions are also present in the study that can be directly used by the readers to make future decisions.