NEWARK, Del, Sept. 05, 2022 (GLOBE NEWSWIRE) -- As per FMI, the global takeaway containers market size is anticipated to reach US$ 35.6 Billion by the end of 2032 and expand at a CAGR of 5.3% from 2022-2032. The market stood at US$ 21.3 Billion in 2022.
For enabling convenient options for consumers, packaging plays an important role. Popularity of food delivery has soared and packaging is playing an important role in improving the portability of food and beverage products. In the food service industry, convenience is the key. Takeaway containers have become very popular owing to the rapid expansion of the food industry. Packaging is considered to be important in order to keep the food fresh and safe from being contaminated. A longer shelf-life also helps to deliver food to locations that are far from restaurants.
Takeaway containers are made from a variety of materials such as plastic, paper & paperboard, metal, and glass. However, as compared to the usage of fresh materials, recycled materials in takeaway containers are in high demand as consumers are preferring sustainable packaging solutions.
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Some companies are investing huge sums in research and development (R&D) activities to increase the shelf-life of food. They are also extending the shelf-life of packaging to maintain the quality of the product. Consumers prefer quick-service restaurants, full-service restaurants, and catering services instead of a traditional way of dining due to changes in their lifestyle, which is projected to propel the demand for takeaway containers during the forecast period.
Key Takeaways from Global Takeaway Containers Market
· Based on material, the plastic takeaway containers segment is projected to hold around 57% of the market share by the end of 2022.
· By product type, the bowls and plates segment is estimated to create an incremental value of US$ 4.5 Bn during the foreseeable period.
· By end user, the hotels, restaurants, & cafes segment is likely to generate a share of 33% in the takeaway containers market in 2022.
· The India takeaway containers market is projected to grow at 6.4% CAGR during 2022-2032.
· The U.S. takeaway containers market is expected to create an incremental opportunity of around US$ 1.9 Bn in the forecast period.
“Rapid expansion of the foodservice sector and emergence of various online food delivery platforms worldwide are anticipated to propel the demand for takeaway containers. Besides, eco-friendly takeaway containers made by using paper and paperboard materials are gaining traction owing to rising concerns about the environment, which would aid growth,” says a FMI analyst.
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Expansion of Food Service and Quick Service Restaurants to Boost the Market
Foodservice and quick-service restaurants will exhibit significant growth in the upcoming decade as people are preferring restaurant foods more instead of the traditional method of cooking food at home. It will further increase the demand for takeaway containers. Food packaging products like trays, bowls, and cups are used for the packaging of foods that need to be delivered to consumers.
The number of working people is growing continuously and changes in eating habits would result in the high preference for ready-to-eat food items, as well as restaurant foods. Therefore, demand for innovative packaging is increasing among full-service restaurants, catering services, and quick-service restaurants.
Manufacturers to Innovative Their Existing Product Lines
Packaging plays an important role in the food industry as ready-to-eat food requires a long shelf life. Thus, the packaging industry is innovating different types of solutions. It is also helping them to control inventory & market availability and ensure that the food is not wasted.
Moreover, manufacturers are focusing on developing new products which would meet the tamper-evident criteria. They are launching new takeaway containers that can keep the meal components separate. Rising number of fast food chains across the globe is another vital factor that would aid growth.
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Takeaway Containers Market Outlook by Category
By Product Type:
- Clamshell
- Cartons and Boxes
- Bowls and Plates
- Cups
- Bottles
- Jars
By Material:
- Plastic
- Paper & Paperboard
- Metal
- Glass
- Others (Bagasse, etc.)
By End User:
- Hotels, Restaurants, & Cafes
- Institutional
- Online Food Delivery
Competitive Landscape: Takeaway Containers Market
Key players operating in the global takeaway containers market are Huhtamaki Oyj, Georgia-Pacific LLC, Winpak Ltd., WestRock Company, Sabert Corporation, Amcor Plc, Sealed Air Corporation, Berry Global Group, DS Smith plc, International Paper Company, Reynolds Group Holding Limited, Detpak, Genpak, LLC, Pactiv LLC, Dart Container Corporation, Fabri-Kal, Vegware US, Karat by Lollicup, and Pappco Greenware among others.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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