Pune, Maharashtra -- (SBWIRE) -- 07/03/2020 -- Food Service Packaging Market:

Executive Summary

Global Food Service Packaging Market is valued approximately USD 72.91 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.23% over the forecast period 2020-2027. The food service packaging is a packaging that protects food products from contamination caused by microorganisms, moisture, air, and helps catalytic activity in fresh food. It includes products packaging such as cans, bottles, ampules, aerosol containers, jars and wraps etc. Such packaging plays prominent role in maintaining the quality of food during handling and transportation and offers marketing medium to satisfy customer and promote food sales. The global outbreak of COVID-19 impacts in significant growth of market, as many economies announced lockdown to avoid spread of virus and social gatherings. . Therefore, people kept on storing convenient foods and products comes in food service packaging to avoid contamination of such food products, also this packaging store food for longer duration of time in lockdown timeframe. Thus, rising demand for convenient food is driving the growth of market over the forecast years. For instance: as per Statista, the convenience food revenue globally stands for USD 563,881 in 2020, which is expected to grow with 0.3% annually till 2025. In addition, cost effectiveness of food service packaging is the factor propelling the growth of market over the forecast years. However, stringent rules and regulations regarding food service packaging is hampering the growth of market over the forecast years.

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The regional analysis of global Food Service Packaging market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising demand for convenient food in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapid growth in food & beverage industries along with packaging industries would create lucrative growth prospects for the Food Service Packaging market across Asia-Pacific region.

Major market player included in this report are:
Amcor Limited
Bemis Company, Inc.
Westrock Company
Ball Corporation
Huhtamaki OYJ
Sealed Air Corporation
Berry Plastic Corporation.
Reynolds Group Holding
International Paper Company
DS Smith PLC

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Material:
Plastic
Metal
Others

By Packaging Type:
Paper and Paperboard
Flexible
Rigid
Others

By Application:
Food & Beverage
Fruit & vegetables
Bakery & confectionery
Dairy products
Others

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Food Service Packaging Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Continuous…

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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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