The North America Food Service Packaging market accounted to US$ 18.60 Mn in 2018 and is expected to grow at a CAGR of 6.0% during the forecast period 2019 - 2027, to account to US$ 31.69 Mn by 2027
NEW YORK, Nov. 12, 2019 /PRNewswire/ -- The North America Food Service Packaging market accounted to US$ 18.60 Mn in 2018 and is expected to grow at a CAGR of 6.0% during the forecast period 2019 – 2027, to account to US$ 31.69 Mn by 2027. Packaging plays an essential role in maintaining quality and keeping food safe during handling and transportation. Food service packaging offers a marketing medium to the food service providers and also improve customer satisfaction levels. Furthermore, it protects the food products from contamination caused by microorganisms, air, and moisture, and helps catalytic activity in fresh food. Food service packaging includes products such as bowls, plates, cups, clamshells, and wraps, among others. The food service packaging market serves the food service industry, consisting of offline as well as online food service stores that are serving a huge number of people all over the world. The North America food service packaging market is mainly driven by factors such as a significant shift of the consumers towards convenience food and on-the-go lifestyles of the consumers. Moreover, growing preference for ready to eat food coupled with changing consumer demand patterns regarding food packaging is driving the demand for foodservice packaging in North America. With growing health consciousness among consumers in North America, a large number of non-commercial and commercial foodservice outlets serving nutritious meals have emerged over the past few years. This has created the need for effective packaging for the foodservice outlets.
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The North America food service packaging market is bifurcated on the basis of material into plastic, metal, and others.The plastic segment dominated the food service packaging market, attributing to the fact that these materials are widely used in manufacturing packaging products such as bags, bottles, and containers such as cups and trays.
Moreover, the demand for plastic packaging in the food service packaging market is growing at a rapid rate, as it is lightweight, microwaveable, and available in various design options.Sustainable packaging is essential for contemporary times.
With many new innovations, like biodegradable plastic and bio plastic that can mitigate environmental risk, the demand for plastic material in the North America food service packaging market is anticipated to propel over the forecast period.
Based on application, the food service packaging market is bifurcated into, beverages, prepared meals, fruits & vegetables, bakery & confectionery, dairy products, and others.The beverage sector is amongst the front-liners, where huge and significant investments are made for business expansion and technological modification.
Whereas, the bakery and confectionery is anticipated to grow at a faster pace in the North America food service packaging market.The packaging of both carbonated and non-carbonated beverages is a challenging technological branch in a food processing /packaging industry.
The old and traditional returnable glass bottle has now been replaced by cartons as well as new plastic containers.The current trend in the packaging industry for beverages aims to improve conventional containers, to produce economic packages, to expand the shelf-life of products, and to deliver better consumer convenience.
Thus, owing to its various advantages, food service packaging is preferred in the beverages application.
A key trend which is projected to affect the North America food service packaging market in the coming year is the advent of smart and intelligent packaging materials in food industry.The food and food safety industry is subjected to various developments in terms of safety and packaging technologies.
The growth in population, surge in disposable income, and an increase in the working population are creating a need for more packaged and ready-to-cook food.The companies present in the food service packaging sector continuously focuses on new trends and enhancement in food packaging, which greatly improve the food quality and safety.
The innovation, such as advances in design and packaging materials, is expected to support the food processing industry.Also, the emergence of smart and intelligent packaging techniques is expected to support the growth of food processing industry.
The intelligent packaging system consists of sensors, RFID tags, smart indicators (freshness, oxygen, carbon-dioxide, leakage, color, and pathogen), pigments & ink, and barcodes/QR codes. Smart packaging is evolving is expected to boost at an exponential rate, with technologies including printed electronics and IoT, which helps in communicating with the end users. However, the advent of new materials and smart packaging techniques also create a need for safety technologies which consider the advances and sustainability of these technologies for the improvement of food quality and safety. These factors are expected to gain traction in the coming times having a significant impact of the food service packaging market.
Some of the players present in Food Service Packaging market are Amcor Limited, Ball Corporation, Bemis Company, Inc., Berry North America, Inc., Dow Industries Inc, DS Smith PLC, Genpak LLC, Huhtamäki Oyj, Sealed Air Corporation, and WestRock Company among others.
The overall North America food service packaging market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Food Service Packaging market.
Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the food service packaging market.
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