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Food Service Packaging Market Trends

Report ID: GMI5348
Published Date: Jan 2024
Report Format: PDF

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Food Service Packaging Market Trends

Packaging material trends are influenced by a combination of consumer preferences, industry needs, technological advancements, and sustainability considerations. One notable trend is the increasing focus on sustainable and eco-friendly packaging solutions. Consumers are becoming more environmentally conscious, leading to a growing demand for materials that reduce environmental impact. Examples of this trend include the rise of biodegradable plastics, compostable packaging, and the utilization of recycled materials in packaging.

Additionally, there is a significant push towards minimalist and functional design in packaging. Brands are adopting food service packaging that prioritize simplicity, ease of use, and reduced waste. This trend aligns with the growing popularity of eco-conscious brands that emphasize a commitment to sustainability throughout their entire packaging type life cycle.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market size for food service packaging was valued at USD 131.48 billion in 2023 and is anticipated to register over 4.9% CAGR between 2024 and 2032 due to the rising demand for convenience food, busy lifestyles, and increasing disposable income.

Rigid packaging segment accounted for over 70% market share in 2023 and is projected to grow through 2032 as it provides excellent protection against external elements, ensuring the freshness and quality of food products during storage, transportation, and display.

North America Food Service Packaging Market was over USD 26.29 billion in 2023 and will grow significantly through 2032 driven by the busy lifestyles of consumers, leading to a preference for convenient, on-the-go food options.

Amcor plc, Sealed Air, Sonoco Products Company, Berry Global Inc, WestRock Company, Mondi, Genpak LLC, Pactiv LLC, Chantler Packages, and Winpak Limited.