A new report by Transparency Market Research highlights the key end users of food service packaging and also lists the key companies operating in the global market. As per the findings of the report, the global market is driven by the rising demand for food service packaging from the food truck and restaurants. The demand is likely to increase from caterers, full-service restaurants, and quick service restaurants. Manufacturers are aiming to increase the packaging material options from glass, metal, and plastics to paper and paperboard. Considering the ongoing global warming drive and the rising awareness about using environment-friendly packaging materials, the demand for paper and paperboard packaging options is increasing globally.
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The report, titled “Food Service Packaging Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” briefs readers about different varieties of rigid and flexible packaging types. According to the report, the use of rigid packaging options such as cans, trays, bottles, and containers is increasing in most of the emerging nations. However, considering their flexibility, manufacturers are focusing on introducing more options such as corrugated and laminated foil packaging. The rising number of catering service providers and restaurants can be credited to be one of the primary factors predicted to propel the global food service packaging market.
The trend of consuming processed food and frozen food is increasing in many developed nations, which is a key factor boosting the demand for food service packaging solutions. The changing consumer preferences have boosted manufacturers to use recycled packaging materials. Key companies are focusing on acquiring the startups to adopt new packaging techniques.
Stanpac, Biopac, Bemis Company Incorporated, Novolex, Linpac Packaging Limited., Kent paper, Genpak, and Berry Plastics Corporation are some of the companies listed in the report on the global food service packaging market. Leading companies of food service packaging are more interested in launching new packaging solutions, which will help them maintain their dominance in the global market.
Based on geography, the global food service packaging market is divided into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific is predicted to lead the global demand for food service packaging solutions owing to the rising pool of customers particularly in India and China. Europe and North America are predicted to be two of the fastest growing markets for food service packaging. The growing adoption of new regulatory policies by government agencies and the rising awareness about new food packaging solutions are two of the factors predicted to propel the Europe and North America markets.
Key companies are focusing on capturing the untapped market across many regions, which will give them a competitive edge over the startup companies.