The food service packaging market was valued at US$ 63,605.3 Mn in 2018 and is projected to be worth US$ 100,715.0 Mn by 2027, growing at a CAGR of 5.3% during the forecast period.
Food service packaging includes products such as cans, bottles, jars, ampules, plastic pots, aerosol containers, and wraps, among others, to preserve food products from contamination for an extended period. It protects the food products from contamination caused by microorganisms, air, and moisture, and helps catalytic activity in fresh food. It plays an essential role in maintaining quality and keeping food safe during handling and transportation. Foodservice packaging offers a marketing medium to the food service providers and helps improve customer satisfaction levels as well as information transmission.
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The global food service packaging market is driven by factors such as rising demand for RTC and RTE food products from the end-users and utilization of automation and amendments in food safety regulations by various government organizations such as FDI. However, the complicated nature of the food service packaging supply chain is anticipated to restrain food service packaging market growth during the forecast period. The growing concerns related to environment and human health have increased the demand for recyclable reusable and eco-friendly packaging solutions, which is anticipated to offer lucrative opportunities to the food service packaging industry players.
Company Profiles
- Amcor plc
- Ball Corporation
- Berry Global, Inc.
- Dow Inc.
- DS Smith PLC
- Genpak LLC
- Huhtamäki Oyj
- Reynolds Group Holdings Limited
- Sealed Air Corporation
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