Food Service Packaging Market COVID-19 Impact Analysis, Trends, Business Growth & Forecast 2022-2030

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Food Service Packaging Market Size is expected to
have the highest CAGR, and Global Forecast By
2030
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Global Market Scenario of Food Service Packaging
Industry
Global food service packaging market will exceed
USD 186 billion in valuation by 2030. The food
service packaging market value will increase at a
considerable pace as the processed food sector is
seeing a notable expansion. The demand for
processed and packaged foods is rapidly growing
among the younger generation due to their hectic
lifestyle, which leaves them with no time to
prepare homemade meals. The trend of takeaways
and home deliveries has picked up significant
pace, especially during the COVID-19 pandemic. As
restaurants were closed when the outbreak was at
its peak, people turned to online food delivery
platforms. Hygienic packaging also took
centerstage during this period. In March 2021,
nearly 47 of American citizens had used a food
delivery application during the pandemic period.
Moreover, 53 of respondents in a 2021 survey
conducted by the U.S. National Restaurant
Association stated that food deliveries and
takeaways were an important part of their
lifestyle. These factors have positively
influenced the usage of food service packaging
products to ensure a safer and more hygienic
delivery of food.
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Continue-
Here is a detailed list of the global factors
that will accelerate the product
adoption Convenience foods to witness robust
demand Convenience foods are gaining notable
popularity among the youth as they are easy to
carry and do not require a lot of effort in
preparation. The chain of convenience stores is
also growing at a strong pace due to the
increasing demand for these foods. Instant
noodles, canned soups, frozen fruits
vegetables, and processed meats cheeses are
being consumed on a large scale across the
world. The COVID-19 pandemic was instrumental in
bolstering the sales of these food items as they
were premade, easily available, and cheaper. As
per South Koreas Rural Development
Administration (RDA), the nations overall
spending on processed or convenience food
consumption rose by 18.4 throughout the COVID-19
outbreak period. Food service packaging items
form a crucial part of these foods as they keep
them warm hygienic. They also facilitate easier
and long-term storage.
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Environmentally conscious customers will prefer
paperboard-based food packaging The food
packaging sector is constantly evolving to
accommodate the unique preferences of their
clients. Plastic and glass are some of the most
preferred packaging materials for foods and
drinks. However, over the years, customers have
become more aware of the harmful effects of
disposing off single-use plastic and glass cups
cutlery in the environment. It has prompted them
to look for food products that are packaged using
sustainable raw materials, such as
paperboard. Since paperboard-based food
packaging items are highly recyclable, they can
be reused for a long time, thereby reducing
wastage. Foods packed in paperboard prevent them
from being crushed or dislodged, making them safe
for long-distance transportation.
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Competitive Analysis
Several recent product launches are an indicator
of the growing popularity of this packaging
material. For example, in April 2021,
California-based EcoTensil launched its AquaDot
range of plastic-free paperboard cutlery in
Europe as the region had announced its decision
to ban single-use plastics. Rigid packaging
materials gain traction for stability and
superior protection Rigid food packaging
materials are important for products that possess
a high risk of spillage during transportation.
These materials provide greater stability and
support to ready-to-eat food items, such as
cereals, canned soups, and spirits. Plastic is
one of the most common materials used in rigid
packaging as it offers protection from heat,
prevents the growth of harmful microorganisms in
foods, and avoids spillage. According to the UN,
around 36 of all plastics manufactured are
utilized for packaging, thereby witnessing
widespread usage in the food packaging industry.
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