Food Service Packaging Market - Growth, Trends, and Forecast (2019 - 2024)

The Food Service Packaging Market is segmented by Product Type (Corrugated Boxes, Glass Bottles, Bags and Wraps, and Plastic Containers), Application (Fruits and Vegetables, Meat Poultry and Seafood, Beverages, and Processed Food), and Geography.

Market Snapshot

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Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

10.14%

Key Players:

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Market Overview

The food service packaging market was estimated at USD 48.31 billion in 2018. This market is expected to reach USD 82.50 billion by 2024, recording a CAGR of 10.14% during the forecast period of 2019 - 2024. Owing to the factors, like the rising demand for quick-service restaurants (QSR), the consumer preferences for on-the-go consumption, and the demand for delivery applications (propelling the growth of e-commerce), the market for foodservice packaging is witnessing rapid growth.

  • Growth in urban population and the consequent increase in demand for processed and prepared food have a significant impact on the growth of the market. For instance, in the United Kingdom, Just Eat PLC reported that the household expenditure on takeaways increased from GBP 10.1 billion in 2017 to GBP 10.4 billion in 2018, and is further expected to reach GBP 11.2 billion by 2021.
  • Food service has grown to become a major part of consumer spending. As this trend increases, packaging plays a key role in ensuring food safety and providing convenience to the consumers. For instance, proper package labeling allows the food preparers to know the source of the food, its proper holding temperature, and the adequate amount of cooking needed.
  • An increase in stringent rules and regulations from the governments for adhering to quality standards is hindering the market growth. 

Scope of the Report

The major packaging products in the food service industry are boxes, bags and wraps, bottles, and plastic containers, including cups, plastic bottles, trays. The other products included in the scope of the study are paper trays and films used as supportive packaging. Besides the mentioned applications of these packaging products, the other applications include frozen desserts and other food products.
By Product Type
Corrugated Boxes
Glass Bottles
Bags and Wraps
Plastic Containers
Other Products
By Application
Fruits and Vegetables
Meat, Poultry and Seafood
Beverages
Processed Food
Other Applications
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Plastic Containers to Account for a Significant Market Share

  • The demand for plastic packaging is growing at a rapid rate, as it is lightweight, microwaveable, and available in various design options.
  • These products are gaining preference over glass bottles, jars, containers, and metal containers, owing to their multiple benefits. 
  • Moreover, the recent trend and changing consumer preferences for intelligent packaging solutions that can improve safety and convenience, extend product life shelf, and monitor freshness, have also contributed to the growing demand for a single-sized plastic container.
  • Sustainable packaging is very much essential for contemporary times.  With many new innovations, like biodegradable plastic and bioplastic that can mitigate environmental risk, the plastic market slowly gaining a little bit of traction. 
  • The consumers can get an increased value for recyclability and perceived “greenness” of packaging. At the same time, the demand for proof of sustainability claims is also expected to grow exponentially.
  • Moreover, the market size of sustainable packaging, as well as the incremental usage of paper, wood, glass, cotton, and other packaging materials as sustainable packaging materials, are changing the consumers' buying habits that make the environment eco-friendly. 
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Asia-Pacific Accounts for the Largest Market Demand

  • Owing to the presence of densely populated and emerging economies, such as Southeast Asian countries, China, and India, Asia-Pacific is expected to witness growth recording the highest CAGR.
  • China accounts for the most significant share in the market (the United States ), owing to its comparatively higher food and beverage consumption. The presence of a more dense population and a similar rise in the consumption of fast food are augmenting the growth of the market.
  • Moreover, in Australia, people spend nearly 32% of their household food budget on eating out and fast food, and the average fast food meal contains about the half of an adult's recommended daily energy intake. Subway, KFC, Hungry Jack’s, Domino’s, Pizza Hut are some of the prominent QRSs in the country that are witnessing rapid growth in their businesses.
  • In the major Indian cities, with urbanization, changing in lifestyle, coping with fast-paced work life, and dependence on online food platforms are rapidly changing the dynamics of the food service industry.  
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Competitive Landscape

The food service packaging is moderately fragmented, as the major share of the market is still dominated by a few players. With new innovation and market demand, the market is being attractive for the new players.  Some of the key players in the market are Amcor Limited, Sealed Air Corporation, International Paper, Berry Global Inc., Bemis Company Inc., Sonoco Products Company, among others.

  • May 2019 - Sealed Air Corporation signed a definitive agreement to acquire Automated Packaging Systems Inc., a leading manufacturer of high-reliability, automated bagging systems, for USD 510 million on a cash and debt-free basis.
  • April 2019 - Amcor launched Amite Ultra Recyclable, its first packaging product made from the company’s revolutionary and more sustainable high-barrier polyolefin film. It can reduce a pack’s carbon footprint by about 64%.

 

 

Major Players

  1. Amcor Limited
  2. Sealed Air Corporation
  3. International Paper Company
  4. Berry Global, Inc.
  5. Sonoco Products Company

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Industry Value Chain Analysis

    3. 4.3 Introduction to Market Drivers and Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

    5. 4.5 Market Drivers

      1. 4.5.1 Rising Demand for Fast Food Centers, Coupled with the Rise in the Number of Quick-Service Restaurants

    6. 4.6 Market Restraints

      1. 4.6.1 Stringent Government Regulations, Along with Detrimental Effects of Packaging on Food

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Corrugated Boxes

      2. 5.1.2 Glass Bottles

      3. 5.1.3 Bags and Wraps

      4. 5.1.4 Plastic Containers

      5. 5.1.5 Other Products

    2. 5.2 By Application

      1. 5.2.1 Fruits and Vegetables

      2. 5.2.2 Meat, Poultry and Seafood

      3. 5.2.3 Beverages

      4. 5.2.4 Processed Food

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Mexico

        3. 5.3.4.3 Rest of Latin America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 UAE

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Amcor Limited

      2. 6.1.2 Sealed Air Corporation

      3. 6.1.3 International Paper Company

      4. 6.1.4 Berry Global Inc.

      5. 6.1.5 Bemis Company Inc.

      6. 6.1.6 Sonoco Products Company

      7. 6.1.7 Huhtamäki Oyj

      8. 6.1.8 Graphic Packaging

      9. 6.1.9 WestRock Company

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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