Global Food Service Disposables Market - 2021-2028
The global foodservice disposables market size was worth US$ XX billion in 2020 and is estimated to show significant growth by reaching up to US$ XX billion by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
Foodservice disposables are food containers or items related to sanitation that can be quickly recycled or disposed of after use, including disposable spoons, napkins, covers, plates, cups, bowls, and paper trays. In the takeaway restaurants, fast food restaurants and catering sectors, these items are used. Due to their low cost and convenience, small start-ups such as mobile vans and other food vendors widely use food disposables. The main raw materials for foodservice disposables are plastic, aluminum and paper. Plastic is the most commonly used raw material for the manufacture of foodservice disposables, and the demand for plastic disposables is growing to a large extent due to its lightweight and affinity for hot drinks and foods, which is likely to stimulate the size of the market for foodservice disposables over the forecast era.
Besides this, recycled packaging materials, including cups, trays, covers, pots, etc., are also used by foodservice companies. Manufacturers have also begun using pulp and plant fiber to manufacture disposable items. This results in the development of biodegradable disposables for the foodservice. Companies also focus on selling personalized packages of food items with customized printing on them. Foodservice providers use UV-curated ink to manufacture personalized disposables since it contains no or no VOC that can be harmful to the environment and humans.
The global foodservice disposables market is driven by increasing demand for on-the-go food items and online food applications. Increasing importance among consumers of various factors such as convenience, timeliness, and variety in terms of food products presents a great potential for foodservice disposables in the market.
Increasing demand for on-the-go food items and online food applications
The increasing number of online food delivery services worldwide is primarily driving the demand growth of disposable food services. The market growth of disposable food services is driven by rising consumer demand for takeaway or ready-to-eat food due to evolving lifestyles, increasing disposable income, and ongoing urbanization, particularly across developing economies. Besides, the growing demand for foodservice disposables from home food habits is also increasing, thereby fueling the market growth. Hence due to the advantage of foodservice disposables such as low costs and food safety, fast storage and grab-and-go, the growing number of on-the-go customers is expected to propel the market growth of foodservice disposables. This, in turn, is expected to fuel the market growth of foodservice disposables in the forecast period.
Increasing importance among consumers of various factors such as convenience, timeliness, and variety in terms of food products due to the increasing launch of advanced products by the key players presents a great potential for foodservice disposables.
The growing importance among consumers of multiple factors such as convenience, timeliness, and variety concerning food products presents a great potential for food disposables on the market. Besides, the trend of takeout and catering services has given rise to the hectic lifestyle scenario caused by consumers. Disposable food containers, with minimal maintenance and reduced dishwashing activities, make customers' lives simple, hence creating opportunities for the market to proliferate in the coming future.
Besides, key players are taking part in this momentum by introducing products in the market and focusing on sustainable and environmental practices, combined with convenience, to shake up the respective categories. For instance, Your Green 2 Go offers lines of plates and bowls made from 100 percent natural and unbleached plant material. GREEN WAVE INTERNATIONAL provides eco-friendly tableware made from natural fibers such as plasma reeds, sugar cane, and grass.
Increasing penetration of sustainable packaging solutions and the growing emergence of key players create intense competition in the industry is leading to a decline in profit margins.
The growing penetration of sustainable packaging solutions is estimated to hamper the foodservice disposable market's growth negatively. Growing awareness of the environment and increasing government legislation on recyclable disposable foodservice solutions reduces the carbon footprint and ensures proper traceability coding, which is projected to impede market growth to some degree.
Owing to the emergence of many players, intensive competition in the industry leads to a decline in profit margins. This factor hinders the market growth of disposable food services. Besides, the instability in the price of raw materials results in constant pressure on disposable foodservice manufacturers' profitability margins, which is also expected to limit the growth of the foodservice market.
COVID-19 Impact Analysis
The global foodservice disposables have shown a slight decline due to the COVID-19 pandemic, as several manufacturing plants were shut for months. Further several countries have restricted production activities during the covid-19 pandemic. The major lockdown due to the COVID-19 outbreak leads to suddenly dropping down consumers' interest towards purchasing any goods, and halt in transportation sectors has severely hampered the business of foodservice disposables market due to disruption of the product's supply chain management.
Most businesses are shut down, and operations across several end-users of foodservice disposables products are also compromised, thus dropping the product's global demand in 2020.
The global foodservice disposables market is segmented based on product, raw materials, distribution channel, end-user and region.
Rising external food consumption concerning takeout and home delivery and growing change to the online home delivery system is triggering restaurants & hotels' market in recent times.
In terms of end-user, the global foodservice disposables market is bifurcated into restaurants & hotels, retails, institutions and others. Out of the mentioned end-users, restaurants & hotels are expected to dominate the global market of foodservice disposables in the forecast period due to rising external food consumption regarding takeout and home delivery and growing change to the online home delivery system due to the hectic customer lifestyle. To serve different food items, a growing number of restaurants use disposable plates, cups, trays, bowls, etc. The majority of restaurants have started to provide catering facilities, so disposables for foodservice have also increased. Manufacturers also supply personalized disposables for foodservice as per restaurant requirements. Apart from this, the restaurants and hotels segment is driven by customer inclination towards fast food items. Subsequently, strong sales growth is expected to fuel consumer demand for disposal cups, dinnerware, and other items for casual restaurants and coffee or snack stores. Besides, due to the change in customer preference away from conventional fast food, the growing number of fast service restaurants (QSR) is expected to fuel segment growth.
The rise in the number of restaurants, mobile food service vans, and the widespread popularity of takeaways in the Asia-Pacific region is creating immense opportunities for the product to proliferate in the region
The Asia Pacific, led by India, Japan, and China, is expected to see substantial growth in the demand for foodservice disposables due to a rise in the number of restaurants, mobile food service vans, and the widespread popularity of takeaways. By companies, several events, such as FoodInnovate, provide product testing analytical service, R&D resources, and expertise to grow their start-ups.
The demand for foodservice disposables in North America, led by Mexico, Canada, and the United States, is likely to increase due to increased penetration of fast food and kitchen & personal hygiene concerns. Sales of napkins and other disposable hygiene products are also growing with increasing fast food and hygiene enforcement, stimulating the market share of foodservice disposables.
The foodservice disposables market is highly competitive with the presence of local as well as global companies. Some of the key players contributing to the market's growth include Graphic Packaging International, LLC, Sealed Air, Sonoco Products Company, WestRock Company, Berry Global Inc, Airlite Plastics, Biopac India Corporation Ltd, Twin Rivers Paper Company, Dart Container Corporation, Anchor Packaging Inc and among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the foodservice disposables market's growth globally. The key players favor partnership, and acquisition is preferred as the growth strategy to build revenue for the firm.
Anchor Packaging Inc
Overview: Anchor Packaging LLC is one of North America's largest thermoformers and best-known for its award-winning product designs and custom capabilities, headquartered in St Louis, MO. The products of Anchor Packaging include Crisp Food Technologies containers that hold fried foods warm & crispy for 30-minute home delivery, Healthy PinchTamper-Evident containers, and affordable ready-to-heat meals prepared for restaurants takeout and supermarket packages. Over 450 rigid packages and cling film products compose Anchor's exclusive stock product line.
The global foodservice disposables market report would provide access to an approx.: 69 market data table, 69 figures and 234 pages.
Target Audience 2022
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