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November 13, 2022

Demand for Food Packaging Solutions for Single Serve Portion Packs Is Likely to Account for 30% Of The Overall Market

/EIN News/ — Rockville, Oct. 19, 2022 (GLOBE NEWSWIRE) — According to Fact.MR, the global foodservice packaging market will expand at a CAGR of approximately 6% from 2022 -2032, exceeding US$ 107.58 billion in revenue at the end of the aforementioned forecast period. Manufacturers are increasingly capitalizing on recyclable packaging trends to gain a competitive edge in the next decade.

Historically, the market has increased at more than 5% CAGR, reaching more than US$ 56.95 billion by 2021. Growth was further accelerated by the advent of COVID-19. Mandatory quarantines issued by governments to contain the spread of the infection led to an increase in online deliveries of ready-to-eat food items, which provided a major boost to the market.

Food service packaging is used in various applications such as food service outlets, bakeries, takeaway meals, breakfast on-the-go, institutional food services, online food ordering, food products milk, alcoholic beverages, and other applications.

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Online food ordering platforms have increased the demand for food packaging materials in the food service packaging industry. In light of increasing awareness that plastic is damaging the environment, paper is increasingly being used as an alternative to plastic in the packaging industry.

“The growing demand for reusable plastic products in the food service sector has sent the packaging industry on a quest for new technologies and sustainable packaging strategies,” says Fact.MR analyst.

Competitive Landscape The development of sustainable products in the market led to higher income and market share. New recyclable products will contribute to a more sustainable environment.

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Fact.MR’s, in its new offer, presents an unbiased analysis of the packaging markets, presenting historical demand data (2017-2021) and forecast statistics from 2022 to 2032.

The study reveals essential market insights based on product type (plates, shallow trays, cups, bowls, bottles, cans, single-serve packages, shell containers, two-piece containers, and others), application (food service outlets, bakery products, takeaway meals, breakfast on the go, institutional food services, online food ordering, dairy products, alcoholic beverages, ready-to-drink beverages and other applications), type of fabrication (thermoforming, die cutting and injection molding) and packaging material (polyethylene terephthalate (PET), PETE, PETG or polyester), high density polyethylene (HDPE), polyvinyl chloride (PVC), low-density polyethylene (LDPE), polypropylene (PP), polystyrene (PS), aluminum, clay-coated paperboard and molded fiber) over seven major regions (North America, Latin America, Europe, East Asia, South

Check out more related studies published by Fact.MR Research:

Food Service Utensils Market: Food service utensils are mainly used to serve food in hotels, cafeteria and catering services. Food service utensils can be made from numerous materials based on their end use. The demand for food service utensils is expected to increase in the forecast period due to increasing number of hotels worldwide. The significantly growing tourism industry continues to fuel the growth of the food service utensils market in a bigger way.

Catering and food services market: In recent years there has been a change in demand for the catering and food services market due to lifestyle and urbanization that are changing around the world. The catering and food service industry offers services on a contract basis or on a single event basis. Catering and food service includes catering services for banquet halls, airline services, canteen catering, etc. fresh produce and poultry. Manufacturers are switching from oil-based plastic foam to biodegradable and compostable food service trays, which has resulted in a reduction in greenhouse gas generation.

Commercial Food Service Equipment Market: Commercial food service equipment finds its application in the preparation, service and storage of food and beverage products in set ups commercial related to the hospitality and aviation sector. Commercial food service equipment is used in hotels, restaurants, fast food joints, catering kitchens and other commercial areas such as aviation.

Fortified Dairy Market: The fortified dairy market has been witnessing the introduction of an extensive range of dairy products in the recent past. In addition to milk-based products, creamy products such as yogurts, cheese, cream cheese, fromage frais, milkshakes and flavored milk, are seeing immense popularity. The increase in consumer interest in health foods is giving rise to sales of popular dairy foods such as yogurts.

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