The Latest Food Service Packaging Industry Statistics Explained
Food service packaging market was worth USD 63.32 Billion in 2020.
The statistic indicates that the food service packaging market had a total value of USD 63.32 billion in the year 2020. This figure represents the total monetary value of all packaging products specifically used in the food service industry, such as containers, cups, wraps, and other packaging materials. The market value reflects the demand for these products by restaurants, food delivery services, catering businesses, and other food service establishments. The size of the market highlights the significant role that food service packaging plays in the food industry, emphasizing the importance of packaging solutions in ensuring the safe and convenient delivery of food products to consumers.
The industry is expected to witness a CAGR of 5.14% from 2021 to 2028.
The statistic indicates that the industry is projected to experience a Compound Annual Growth Rate (CAGR) of 5.14% from 2021 to 2028. This means that on average, the industry’s revenue, market size, or another relevant metric is expected to grow by 5.14% each year over this period. The CAGR provides a standardized way to measure and compare growth rates over time, smoothing out fluctuations and providing a consistent annualized rate of growth. In this case, the industry is forecasted to steadily expand at a moderate pace over the specified timeframe, indicating potential opportunities for businesses and investors within the industry.
The APAC region dominated the food service packaging market in 2019.
The statistic ‘The APAC region dominated the food service packaging market in 2019’ indicates that the Asia-Pacific region had the highest market share in terms of revenue and/or volume within the food service packaging industry during the year 2019. This suggests that a significant portion of food service packaging products, such as containers, cups, wraps, and other related materials, were consumed or produced in countries within the APAC region compared to other regions globally. Factors contributing to this dominance could include population size, economic growth, increasing urbanization, and evolving food consumption patterns in countries within the Asia-Pacific region, making it a key hub for the food service packaging market.
The plastic segment held the largest share in the global market in 2019.
This statistic indicates that among all segments in the global market in 2019, the plastic segment had the highest proportion of market share. This suggests that the use and demand for plastic-based products and materials surpassed those of other segment categories in terms of revenue or sales volume during that year. Factors such as cost-effectiveness, versatility, and widespread usage in various industries may have contributed to the plastic segment’s dominance in the market. This statistic is valuable for market analysts, businesses, and policymakers to understand the dynamics and trends within the global market, and it may influence future strategic decisions related to product development, marketing strategies, and environmental sustainability initiatives.
Rigid packaging held the largest share over 55% in the global market in 2019.
The statistic “Rigid packaging held the largest share over 55% in the global market in 2019” indicates that within the global packaging industry, rigid packaging comprised more than half of the total market share. This suggests that rigid packaging materials such as plastic, glass, metal, or paperboard containers were the most commonly used form of packaging across various industries in 2019. The high market share of rigid packaging highlights its popularity and widespread adoption due to factors such as durability, functionality, and cost-effectiveness. This statistic implies that companies and consumers favored rigid packaging solutions over other types, positioning it as a dominant player in the packaging market during that year.
The global food service packaging market size is projected to reach USD 84.33 billion by 2025.
This statistic indicates that the global food service packaging market is expected to expand significantly and reach a value of USD 84.33 billion by the year 2025. This projection suggests strong growth prospects for the industry, driven by factors such as increasing demand for convenient and sustainable packaging solutions in the food service sector. This growth trajectory reflects evolving consumer preferences, regulatory shifts towards eco-friendly packaging options, and technological advancements in packaging materials and design. The projected market size highlights the opportunities for businesses operating in the food service packaging industry to capitalize on this growing market and adapt to changing market dynamics to meet the demands of an increasingly competitive and environmentally conscious market landscape.
The foodservice packaging will reach an estimated valuation of USD 51.8Bn by 2027.
This statistic indicates that the foodservice packaging industry is expected to increase in value to approximately USD 51.8 billion by the year 2027. This suggests a significant growth trajectory for the sector, likely driven by factors such as increasing demand for convenience food products, a growing food delivery market, and heightened focus on sustainability and eco-friendly packaging solutions. The projection signifies a substantial market opportunity for companies involved in the production and distribution of foodservice packaging products, as they seek to cater to the evolving needs of the food industry and consumers alike.
Eco-friendly food service packaging to witness a considerable CAGR of 5.92% till 2027.
This statistic indicates that the market for eco-friendly food service packaging is predicted to experience a Compound Annual Growth Rate (CAGR) of 5.92% until the year 2027. This suggests that the demand for sustainable and environmentally friendly packaging solutions within the food service industry is expected to grow significantly over the forecast period. Factors such as increasing consumer awareness and concern for the environment, regulatory initiatives promoting eco-friendly practices, and shifting preferences towards sustainable products are likely to drive this growth. Companies operating in this sector may benefit from investing in innovation and development of eco-friendly packaging solutions to capitalize on this growing market trend.
Rigid plastics packaging segment accounted for the highest share of 30.2% in 2020.
The statistic “Rigid plastics packaging segment accounted for the highest share of 30.2% in 2020” indicates that within the overall packaging industry, rigid plastics packaging had the largest market share at 30.2% in 2020. This suggests that a significant portion of the packaging market was dominated by rigid plastics, which could include products such as bottles, containers, and other forms of packaging made from materials like PET or HDPE. This statistic highlights the widespread use and popularity of rigid plastics in the packaging industry, likely due to factors such as durability, versatility, and cost-effectiveness compared to other packaging materials.
North America represented 30.5% of the worldwide food service packaging market in 2020.
The statistic indicates that in 2020, North America accounted for approximately 30.5% of the global food service packaging market. This means that out of all the food service packaging products sold worldwide that year, nearly a third were attributed to North American consumption or production. This statistic highlights the significant presence and influence of North America in the food service packaging industry on a global scale, showcasing the region as a major player in shaping market trends and driving innovations in packaging solutions for the food service sector.
The drinks segment accounted for the highest share of 34.7% in 2020.
The statistic stating that the drinks segment accounted for the highest share of 34.7% in 2020 indicates that among all the segments or categories being considered, the drinks category had the largest portion of the market. This suggests that in terms of sales, revenue, or overall market size, the drinks segment outperformed other sectors in 2020 by capturing a significant market share of 34.7%. This information is valuable for companies operating within the beverages industry as it highlights the dominance of the drinks segment and can influence strategic decision-making, resource allocation, marketing efforts, and product development within the industry.
The growing QSR industry in the Asia-Pacific region is expected to boost food service packaging demands.
The statistic suggests that the Quick Service Restaurant (QSR) industry in the Asia-Pacific region is expanding, which is anticipated to drive an increase in the demand for food service packaging. This growth in the QSR sector implies a higher volume of food orders being processed and delivered to customers, necessitating more packaging materials to ensure that food is safely transported and presented. As the QSR industry continues to grow, so too will the need for food service packaging to cater to the rising demand, indicating a positive correlation between the expansion of the QSR industry and the packaging industry in the Asia-Pacific region.
The global market for corrugated boxes in the sector is estimated to be worth $12.9bn in 2021.
The statistic indicates that the worldwide market value of corrugated boxes within the industry is projected to reach $12.9 billion in the year 2021. This figure represents the total estimated financial worth of the corrugated box market, including all sales and transactions related to corrugated boxes around the globe for that particular year. The number gives insight into the significant size and economic importance of the corrugated box industry, highlighting the widespread use and demand for these packaging materials across various sectors such as shipping, e-commerce, retail, and manufacturing.
Clamshell packaging will witness a CAGR of more than 4.9% in the forecast period 2022-2028.
This statistic implies that the clamshell packaging industry is expected to experience a Compound Annual Growth Rate (CAGR) of over 4.9% between the years 2022 and 2028. This indicates a positive trend in the demand for clamshell packaging over the forecast period, suggesting an increasing preference for this type of packaging among consumers or industries. The projected growth rate signifies a steady and sustained expansion in the market for clamshell packaging, which may be driven by factors such as its convenience, protection, and sustainability features, leading to potential opportunities for businesses operating in this sector.
Plastic is expected to represent about 51.7% of the overall material share by 2025.
The statistic indicates that plastic is projected to account for approximately 51.7% of the total material share by the year 2025. This forecast suggests that plastic will continue to be a dominant component in the overall material usage, highlighting its significance in various industries and applications. The increase in the proportion of plastic materials is likely driven by factors such as cost-effectiveness, durability, and versatility in manufacturing processes. However, this statistic also underscores the ongoing challenges associated with plastic waste management and environmental concerns, emphasizing the need for sustainable practices and initiatives to address the implications of excessive plastic usage on the planet’s ecosystems.
Almost 40% of food service packaging is used by quick-service restaurants.
The statistic that almost 40% of food service packaging is used by quick-service restaurants indicates that a significant proportion of all food packaging materials is sourced and consumed by establishments in the fast-food industry. This statistic highlights the substantial impact that quick-service restaurants have on the overall demand for packaging materials, implying their significant contribution to waste production and environmental concerns associated with packaging disposal. It suggests a potential area for targeted sustainability efforts and waste reduction strategies within the quick-service restaurant sector to address the environmental implications of their packaging usage and waste generation.
China occupies nearly 29% of the Asia-Pacific food service packaging market.
The statistic “China occupies nearly 29% of the Asia-Pacific food service packaging market” indicates that China has a dominant presence in the food service packaging industry within the Asia-Pacific region. This means that almost a third of the market share in the food service packaging sector in the Asia-Pacific region is held by China. This could be due to a variety of factors such as China’s growing population, increasing urbanization, and expanding food service industry. With such a significant market share, China likely plays a key role in shaping trends and developments within the food service packaging market in the region.
Nearly 50% of food packaging is made of paper.
The statistic “Nearly 50% of food packaging is made of paper” implies that approximately half of all food packaging materials used in the industry are composed of paper-based materials. This suggests that paper is a widely utilized material for packaging food products, likely due to its versatility, affordability, and environmentally friendly attributes. The high percentage also indicates that paper packaging is a popular choice among manufacturers and consumers alike, potentially reflecting a growing trend towards sustainable packaging solutions in the food industry.
Conclusion
Providing key insights into the food service packaging industry statistics reveals the industry’s growth, trends, and challenges. These statistics are crucial for businesses to make informed decisions, adapt to market changes, and improve sustainability practices. Monitoring these statistics will enable the industry to continue evolving and meeting the demands of both consumers and regulatory agencies.
References
0. – https://www.www.futuremarketinsights.com
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2. – https://www.www.grandviewresearch.com
3. – https://www.www.smithers.com
4. – https://www.www.packworld.com
5. – https://www.www.mordorintelligence.com
6. – https://www.www.databridgemarketresearch.com
