Market Research Future (MRFR) in its latest report published on the global Food Service Disposable Packaging market is expected to expand at a CAGR of 4.5% through the forecast period (2019-2023) and generate a sizable revenue by the end of the forecast year.
Intensifying population density of the world is pushing the need to satisfy the rising hunger. MRFR noted this as the main factor that is expected to encourage the global Food Service Disposable Packaging market growth. Growing urban population and fast-beat work life are surging the need for food delivery at door. This is encouraging the emergence of multiple online food platforms, which is one of the high end-user of the global food services packaging. In addition to the same, high popularity of ready-to-eat food, convenient food, and fast food among people is expected to gain momentum for the global market of Food Service Disposable Packaging market over the evaluation period. However, the stringent norms of governments, across the world, regarding food and beverage business is expected to hinder the market expansion. Other limitations follows.
The global Food Service Disposable Packaging market has been segmented on the basis of application and product. Based on the product type, the market has been segmented into flexible packaging, paper and pouches, rigid packaging, bags, and others. The availability of different types of food packaging service and the growing awareness about their advantages is expected to impel the product type segment of worldwide market over the review period. Based on the application, the global market has been segmented into fruits and vegetables, dairy products, baked goods, and others. High sales of food and beverage to satiated hunger of the world’s growing population is likely to amplify the application segment of the market in the foreseeable future.
The Food Service Disposable Packaging market has been analyzed across Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
The high population density in the Asia Pacific region underpins high amount of food and beverage consumption. This is likely to drive the regional market growth, registering the highest growth rate. The hectic life work life of people, change in way of living, and surge in urban population are factors that are drawing attention of people towards online food services. This, in turn, is expected to gain traction for the APAC Food Service Disposable Packaging market, as delivery of untampered quality food deepens customer loyalty. Increase in the consumption of fast-food, especially among youngsters, is altering the dynamics of the food and beverage industry. Expansion in the youngster populace is another factor that is likely to promote the APAC market growth. The high ready-to-eat and convenient food intake, and the presence of giants dealing in food in the North American region is likely to promote the regional Food Service Disposable Packaging market. In the European region, the quick roll-out of innovations in Food Service Disposable Packaging innovations is likely to scale up the regional market valuation in the coming years.
MRFR named some of the notable Food Service Disposable Packaging providers. They are; Amcor Limited (Australia), Ball Corporation (U.S.), Ampac Packaging LLC (U.S.), Bemis Company Incorporated (U.S.), Crown Holdings Incorporated (U.S.), BWAY Corporation (U.S.), Greif Incorporated (U.S.), Letica Corporation (U.S.), Rock-Tenn Company (U.S.) and others. High competitive spirit of key player is observed to benefit the global Food Service Disposable Packaging market as this is likely to gain high revenue for the market.
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