Food Service Packaging Market Trends & Forecasts To 2030

1. Food Service Packaging Market Analysis, Statistics, Revenue, Demand and Trend Analysis Research Report by 2030

2. The food service packaging market is expected to depict substantial growth until 2030. The industry development can be credited to the emergence of new and improved food service packaging technology along with the deployment of sustainable packaging solutions. • With urbanization on the rise and subsequent hectic consumer lifestyles, the demand for tertiary processed food has been on a rise. Increasing disposable incomes have paved the way for convenience meals to emerge as a vital option for consumers. This has led to packaging companies increasing the production of varied food service packaging solutions. The rising emphasis on modern packaging technologies will also help augment the food service packaging industry growth through 2030. As food service outlets continue to proliferate and consumer purchase parity depicts an upsurge, the demand for efficient food service packaging will increase by 2030. • With regards to material, the industry is categorized into plastic, metal, and paperboards. The rising usage of metal foil for home packages and ready-to-eat food will augment the industry growth from the metal segment. Metals such as aluminium are known to protect food against air particles and retain its quality. It can easily be molded into various sizes and shapes for customized packaging. The industry size from the metals segment may register a CAGR of over 5% through 2030.

3. Based on packaging type, the industry is bifurcated into flexible and rigid packaging. The rigid packaging segment held over USD 75 billion of the industry size in 2021. The growth can be attributed to the increasing demand for protective packages to prevent items from having a minimum shelf life. In addition, rigid packages can be easily customized and used massively in food service businesses. On the basis of application, the industry is classified into foodservice outlets, institutional foodservices, and online food ordering. Amongst these, the market size from the foodservice outlets segment will record a CAGR of over 5% through 2030. The number of food service outlets such as coffee shops, casual dining areas, and themed cafes has witnessed a substantial rise in the last half a decade. Increasing demand for efficient, safe, and durable food service packages from these outlets will propel the industry outlook. On the regional front, the market is categorized into North America, Europe, Asia Pacific, LATAM, and MEA. Latin America food service packaging industry is expected to hit a valuation of more than USD 8 billion by 2030, owing to the rising population and diversification of the food industry in the region. The LATAM industry is also expected to grow on account of the influx of new food service businesses and rapid urbanization.

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