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Food Service Packaging Market

Food Service Packaging Market

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Food Service Packaging Market

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  1. Food Service Packaging Market Size is expected to have the highest CAGR, and Global Forecast By 2030

  2. Global Market Scenario of Food Service Packaging Industry Global food service packaging market will exceed USD 186 billion in valuation by 2030. The food service packaging market value will increase at a considerable pace as the processed food sector is seeing a notable expansion. The demand for processed and packaged foods is rapidly growing among the younger generation due to their hectic lifestyle, which leaves them with no time to prepare homemade meals. The trend of takeaways and home deliveries has picked up significant pace, especially during the COVID-19 pandemic. As restaurants were closed when the outbreak was at its peak, people turned to online food delivery platforms. Hygienic packaging also took centerstage during this period. In March 2021, nearly 47% of American citizens had used a food delivery application during the pandemic period. Moreover, 53% of respondents in a 2021 survey conducted by the U.S. National Restaurant Association stated that food deliveries and takeaways were an important part of their lifestyle. These factors have positively influenced the usage of food service packaging products to ensure a safer and more hygienic delivery of food.

  3. Continue:- Here is a detailed list of the global factors that will accelerate the product adoption: Convenience foods to witness robust demand: Convenience foods are gaining notable popularity among the youth as they are easy to carry and do not require a lot of effort in preparation. The chain of convenience stores is also growing at a strong pace due to the increasing demand for these foods. Instant noodles, canned soups, frozen fruits & vegetables, and processed meats & cheeses are being consumed on a large scale across the world. The COVID-19 pandemic was instrumental in bolstering the sales of these food items as they were premade, easily available, and cheaper. As per South Korea’s Rural Development Administration (RDA), the nation’s overall spending on processed or convenience food consumption rose by 18.4% throughout the COVID-19 outbreak period. Food service packaging items form a crucial part of these foods as they keep them warm & hygienic. They also facilitate easier and long-term storage.

  4. Request for sample copy of this research report@ https://www.gminsights.com/request-sample/detail/5348

  5. 360° Industry Analysis Request for customization:https://www.gminsights.com/roc/5348 Environmentally conscious customers will prefer paperboard-based food packaging: The food packaging sector is constantly evolving to accommodate the unique preferences of their clients. Plastic and glass are some of the most preferred packaging materials for foods and drinks. However, over the years, customers have become more aware of the harmful effects of disposing off single-use plastic and glass cups & cutlery in the environment. It has prompted them to look for food products that are packaged using sustainable raw materials, such as paperboard. Since paperboard-based food packaging items are highly recyclable, they can be reused for a long time, thereby reducing wastage. Foods packed in paperboard prevent them from being crushed or dislodged, making them safe for long-distance transportation.

  6. Competitive Analysis: Several recent product launches are an indicator of the growing popularity of this packaging material. For example, in April 2021, California-based EcoTensil launched its AquaDot range of plastic-free paperboard cutlery in Europe as the region had announced its decision to ban single-use plastics. Rigid packaging materials gain traction for stability and superior protection: Rigid food packaging materials are important for products that possess a high risk of spillage during transportation. These materials provide greater stability and support to ready-to-eat food items, such as cereals, canned soups, and spirits. Plastic is one of the most common materials used in rigid packaging as it offers protection from heat, prevents the growth of harmful microorganisms in foods, and avoids spillage. According to the UN, around 36% of all plastics manufactured are utilized for packaging, thereby witnessing widespread usage in the food packaging industry.

  7. Title Latest Research Report On Food Service Packaging Market@ https://www.gminsights.com/industry-analysis/food-service-packaging-market Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/5348 Request for customization: https://www.gminsights.com/roc/5348

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