Foodservice
packaging or single use foodservice products have evolved over the
years to encompass a broad range of packaging products such as
plates, bowls, cups, trays, wraps, clamshells (hinge lid containers),
etc. The global foodservice packaging market caters to the gigantic
foodservice industry comprising of online and offline foodservice
outlets serving billions of consumers around the world. Key market
players operating in the global foodservice packaging market are
innovating in terms of packaging designs and raw material
capabilities that help foodservice players meet their sustainability
objectives. Packaging design in foodservice packaging also plays an
important role in consumer experience as consumers tend to interact
with the packaging while eating. Keeping consumer convenience and
user experience foodservice packaging companies are consistently
implementing design modifications to differentiate their product
offerings.
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Global
Food Service Packaging (FSP) Market: Market Dynamics
The
global foodservice packaging market is witnessing an emerging trend
towards sustainable packaging solutions. The global foodservice
packaging market consumes billions of units of single use packaging
products. Disposability of these packaging products becomes a matter
of concern for foodservice companies. Further, environmental policies
of the company also play an important role in maintain positive
perception among environmental consciousness customers.
As
per product type plastic and paper plates have emerged as a business
segment with high volume growth. Plastic and paper plates are
consumed globally in every region in enormous volume due to their
abundant production capacities and cheaper costs.
Different
packaging products cater differently to various foodservice packaging
application such as foodservice outlets, takeaway meals, on the go
breakfast packaging, institutional foodservices, online food
ordering, etc. Consumption at foodservice outlets constitute a larger
portion of the foodservice packaging market. However, the market is
anticipated to witness a growing trend towards on the go and takeaway
food habits. Busy lifestyle among urban population and growing number
of singles in developed countries is expected to fuel the growth of
global foodservice packaging market. On the go breakfast and pizza
packaging has emerged as high growth market segments in the global
foodservice packaging market. The global market for on the go
breakfast packaging is estimated to generate more than half a billion
in revenues for the year 2017.
Global
Food Service Packaging (FSP) Market: Regional Outlook
Geographically
the global
food service packaging (FSP) market is segmented into 7 key
regions including North America, Latin America, Europe, Asia Pacific
excluding Japan (APEJ), Japan, and Middle East and Africa (MEA).
Global
Food Service Packaging (FSP) Market: Key Players
Some
of the players operating in the food service packaging (FSP) market
include Huhtamaki Oyj, Genpak, LLC, Linpac Packaging, Pactiv LLC, D&W
Fine Pack, Gold Plast SPA, Stanpac Inc., Biodegradable Packaging for
Environment Co., Ltd., Smurfit Kappa Group, WestRock Company, DS
Smith, New Method Packaging, Southern Champion Tray, Magnum
Packaging, Michigan Box Company, International Paper Company, and
Golden Box Ltd.
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