Changing customer preferences for high-quality and standard products will escalate the food service packaging market at a CAGR of 6.0%
Latest market study on “North America Food Service Packaging Market to 2027 – Analysis and Forecasts by Material (Plastic, Metal, Others); Packaging Type (Flexible, Rigid); Application (Beverages, Prepared Meals, Fruits and Vegetables, Bakery and Confectionery, Dairy Products, Others)”, The North America Food Service Packaging Market is accounted to US$ 18.60 Mn in 2018 and is expected to grow at a CAGR of 6.0% during the forecast period 2019 - 2027, to account to US$ 31.69 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Under application segment, the beverages is the leading segment. The beverage sector is amongst the front-liners, where huge and significant investments are made for business expansion and technological modification. The packaging of both carbonated and non-carbonated beverages is a challenging technological branch in a food processing /packaging industry. The old and traditional returnable glass bottle has now been replaced by cartons as well as new plastic containers. Furthermore, bakery and confectionery segment is anticipated to grow at a faster pace, which is anticipated to boost the demand for food service packaging over the forecast period.
The North America food packaging industry is transforming at a constant rate, driven by changing packaging technology, disposal regulations, and market acceptability. To ensure the safety of individuals, food packaging plays an essential role, as a material used for packing diversified food items is needs to be hygienic for the health of the consumers. With endless practices of developing packaging solutions, risks associated with food packaging design are low and is reducing due to practices such as ISO 22000 mandates, and audit schemes. The adoption of risk assessments on all the raw materials and packaging materials assist in ensuring safety in the food packaging design. The design of food packaging continues to transform with substantial scientific and technological progress, to extend the shelf life of the product and make it safer for the consumers as well. The food packaging design on the retailer shelves the customer observes is different from the design, which was ten years ago. This change happened due to advancements made in food safety and packaging solutions, which has raised the level of efficiency, convenience, and sustainability.
Moreover, manufacturers who approach to modify the packaging materials work with packaging professionals, which helps them in following and meeting all safety mandates. Also, the availability of skilled professionals, including consultants and suppliers pertain specific knowledge about food packaging design technologies. These trained experts assist the manufacturers in selecting appropriate materials, cost forecasting, troubleshooting, and risk assessment in magnifying their performance and productivity. Therefore, the presence of skilled professionals, audit schemes help the food packaging manufacturers to prevent safety problems associated with food packaging.
The market for food service packaging is concentrated with some very well-established players. Some of the key players in the food service packaging market include Amcor Limited, Ball Corporation, Bemis Company, Inc., Berry North America, Inc., Dow Industries Inc, DS Smith PLC, Genpak LLC, Huhtamäki Oyj, Sealed Air Corporation, and WestRock Company among others.
North America Food Service Packaging Market - By Country Breakdown, 2018
The report segments the North America food service packaging market as follows:
North America Food Service Packaging Market - By Material
North America Food Service Packaging Market - By Packaging Type
North America Food Service Packaging Market - By Application
North America Food Service Packaging Market – By Region
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