Proliferation in Production Capacity of Packaging Products to Escalate North America Food Service Packaging Market Growth
According to the latest market study, titled 'North America Food Service Packaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Material (Plastic, Metal, and Others), Packaging Type (Flexible and Rigid), and Application (Beverages, Prepared Meals, Fruits and Vegetables, Bakery and Confectionery, Dairy Products, and Others),' the market was valued at US$ 24,502.38 million in 2021 and is projected to reach US$ 34,995.67 million by 2028. It is expected to grow at a CAGR of 5.2% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Various food service packaging products include bowls, plates, cups, clamshells, and wraps. The food service packaging market serves the food service industry consisting of offline and online food service stores. A significant shift of the consumers towards convenience food and on-the-go lifestyles is mainly driving the North America food service packaging market.
Convenience is one factor accountable for boosting the adoption of fresh and nutritious ready-to-cook meals, and hence the demand for easy-to-cook packaging is rising. Due to individuals' time constraints, ready-to-cook meals help the masses manage their eating time. The growing demand for frozen, processed & semi-processed food items with higher nutritional values is helping the food packaging manufacturers expand their production capacity of packaging products for a wide range of product categories.
Amcor plc; Berry Global Inc.; Huhtamaki; Genpak, LLC; WestRock Company; Sealed Air; Ball Corporation; DS Smith; Graham Packaging Company; and Graphic Packaging Holding Company are some of the players operating in the North America food service packaging market. Players operating in the North America food service packaging market are highly focused on developing high-quality and innovative product offerings to fulfill the customer's requirements.
In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. Various challenges, such as travel bans and the closure of institutes and companies, have hit associated food service operators. The demand for different food service packaging products declined due to the closure of many quick-service restaurants, cafes, hotels, and other eateries during the pandemic. However, the need for food service packaging products is gradually increasing, backed by the reopening of businesses.
By material, the market is segmented into plastic, metal, and others. Based on packaging type, the market is segmented into flexible and rigid. Based on application, the North America food service packaging market is segmented into beverages, prepared meals, fruits and vegetables, bakery and confectionery, dairy products, and others. In terms of country, the North America food service packaging market is segmented into the US, Canada, and Mexico.
Reasons to Buy
According to the latest market study, titled 'North America Food Service Packaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Material (Plastic, Metal, and Others), Packaging Type (Flexible and Rigid), and Application (Beverages, Prepared Meals, Fruits and Vegetables, Bakery and Confectionery, Dairy Products, and Others),' the market was valued at US$ 24,502.38 million in 2021 and is projected to reach US$ 34,995.67 million by 2028. It is expected to grow at a CAGR of 5.2% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Various food service packaging products include bowls, plates, cups, clamshells, and wraps. The food service packaging market serves the food service industry consisting of offline and online food service stores. A significant shift of the consumers towards convenience food and on-the-go lifestyles is mainly driving the North America food service packaging market.
Convenience is one factor accountable for boosting the adoption of fresh and nutritious ready-to-cook meals, and hence the demand for easy-to-cook packaging is rising. Due to individuals' time constraints, ready-to-cook meals help the masses manage their eating time. The growing demand for frozen, processed & semi-processed food items with higher nutritional values is helping the food packaging manufacturers expand their production capacity of packaging products for a wide range of product categories.
Amcor plc; Berry Global Inc.; Huhtamaki; Genpak, LLC; WestRock Company; Sealed Air; Ball Corporation; DS Smith; Graham Packaging Company; and Graphic Packaging Holding Company are some of the players operating in the North America food service packaging market. Players operating in the North America food service packaging market are highly focused on developing high-quality and innovative product offerings to fulfill the customer's requirements.
Impact of COVID-19 Pandemic on North America Food Service Packaging Market
In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. Various challenges, such as travel bans and the closure of institutes and companies, have hit associated food service operators. The demand for different food service packaging products declined due to the closure of many quick-service restaurants, cafes, hotels, and other eateries during the pandemic. However, the need for food service packaging products is gradually increasing, backed by the reopening of businesses.
North America Food Service Packaging Market Breakdown - by Region
The report includes the segmentation of the North America food service packaging market as follows:
By material, the market is segmented into plastic, metal, and others. Based on packaging type, the market is segmented into flexible and rigid. Based on application, the North America food service packaging market is segmented into beverages, prepared meals, fruits and vegetables, bakery and confectionery, dairy products, and others. In terms of country, the North America food service packaging market is segmented into the US, Canada, and Mexico.
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America food service packaging market, thereby allowing players to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals
Table of Contents
1. Introduction
3. Research Methodology
4. North America Food Service Packaging Market Landscape
5. North America Food Service Packaging Market - Key Market Dynamics
6. North America Food Service Packaging - Market Analysis
7. North America Food Service Packaging Market Analysis - By Material
8. North America Food Service Packaging Market Analysis - By Packaging Type
9. North America Food Service Packaging Market Analysis - By Application
10. Food Service Packaging Market Revenue And Forecasts To 2028 - Geography
11. Impact of COVID-19 Pandemic on North America Food Service Packaging Market
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
List of Figures
Executive Summary
The North America food service packaging market was valued at US$ 24,502.38 million in 2021 and is projected to reach US$ 34,995.67 million by 2028. It is expected to grow at a CAGR of 5.2% from 2021 to 2028.Food service packaging products help protect the food products from contamination caused by microorganisms, air, and moisture. Food service packaging includes products, such as bowls, plates, cups, clamshells, and wraps. The food service packaging market serves the food service industry, consisting of offline and online food service stores that are serving a huge number of people all over the world. North America food service packaging market is mainly driven by factors, such as a significant shift of the consumers towards convenience food and on-the-go lifestyles.
Moreover, the growing preference for ready-to-eat food is driving the demand for food service packaging in North America. With the ever-increasing health consciousness among consumers in North America, many foodservice outlets serving nutritious meals have emerged over the past few years. This has created the need for adequate packaging for the foodservice outlets. Rising demand for sustainable packaging solutions is expected to deliver substantial growth opportunities to the industry players in the near future.
Based on application, The North America food service packaging market has been segmented into beverages, prepared meals, fruits and vegetables, bakery and confectionery, dairy products, and others. The beverages segment held the largest share in the North America food service packaging market in 2020. The beverage sector is amongst the front-liners, where significant investments are made for business expansion and technological modification. The packaging of carbonated and non-carbonated beverages is a challenging technological branch in the food processing/packaging industry. Cartons and new plastic containers have now replaced the old and traditional returnable glass bottles. The use of plastics continues to increase as a beverage packaging material due to its low cost and functional benefits, including the ability to be microwaved and thermos-sealed.
In 2020, the US held the largest revenue share of the North America food service packaging market. The US is one of the major markets for food service packaging products in North America. Factors, such as the growing preferences of consumers for convenience food products and the increasing trend of food takeaways are mainly driving the food service packaging market in the US.
Further, the growth of the country's food service packaging market is attributed to various strategies adopted by players in the US food service packaging market such as new product launches, expansion, mergers, and acquisitions. The country is also engaged in the food law harmonization work in coordination with Codex Alimentarius and different government representatives from the Food and Drug Administration (FDA) and the United States Department of Agriculture (USDA).
Amcor plc; Berry Global Inc.; Huhtamaki; Genpak, LLC; WestRock Company; Sealed Air; Ball Corporation; DS Smith; Graham Packaging Company; and Graphic Packaging Holding Company are some of the players operating in the North America food service packaging market. These market players are highly focused on developing high-quality and innovative product offerings to fulfill the customer's requirements. Players operating in the North America food service packaging market are constantly focusing on strategies, such as expansion and mergers & acquisitions.
The size of the overall North America food service packaging market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America food service packaging market.
Companies Mentioned
- Amcor plc
- Berry Global Inc.
- Huhtamaki
- Genpak, LLC
- Westrock Company
- Sealed Air
- Ball Corporation
- Ds Smith
- Graham Packaging Company
- Graphic Packaging Holding Company
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 136 |
| Published | March 2022 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 24502.38 Million |
| Forecasted Market Value ( USD | $ 34995.67 Million |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | North America |
| No. of Companies Mentioned | 10 |
