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Food Service Packaging Market Size to Exceed $ 109.62 Bn by 2027

Press release from the issuing company

According to Market Study Report, Food Service Packaging Market provides a comprehensive analysis of the Food Service Packaging market segments, including their dynamics, size, growth, competitive landscape, and emerging opportunities of global industry. This report also provides market landscape and market share information in the Food Service Packaging market.

Global Food Service Packaging Market is valued approximately USD 72.91 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 5.23% over the forecast period 2020-2027. The food service packaging is a packaging that protects food products from contamination caused by microorganisms, moisture, air, and helps catalytic activity in fresh food. It includes products packaging such as cans, bottles, ampules, aerosol containers, jars and wraps etc. Such packaging plays prominent role in maintaining the quality of food during handling and transportation and offers marketing medium to satisfy customer and promote food sales.

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The global outbreak of COVID-19 impacts in significant growth of market, as many economies announced lockdown to avoid spread of virus and social gatherings. . Therefore, people kept on storing convenient foods and products comes in food service packaging to avoid contamination of such food products, also this packaging store food for longer duration of time in lockdown timeframe. Thus, rising demand for convenient food is driving the growth of market over the forecast years. For instance: as per Statista, the convenience food revenue globally stands for USD 563,881 in 2020, which is expected to grow with 0.3% annually till 2025. In addition, cost effectiveness of food service packaging is the factor propelling the growth of market over the forecast years. However, stringent rules and regulations regarding food service packaging is hampering the growth of market over the forecast years.

The Food Service Packaging market is fragmented with the presence of several manufacturers and the competitive dynamics in the market is expected to change during the upcoming years. Majority of the companies in the Food Service Packaging market are located in the Asia-Pacific region as well as in Europe. Currently, high demand for Food Service Packaging is noticed in developing as well as developed regions such as Asia and Africa owing to the significant need to control environmental pollution, increasing consumer awareness, and supporting government initiatives.

The regional analysis of global Food Service Packaging market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising demand for convenient food in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapid growth in food & beverage industries along with packaging industries would create lucrative growth prospects for the Food Service Packaging market across Asia-Pacific region.

This Report has segmented the global Food Service Packaging market based on Material, Packaging Type, Application and region:

Major market player included in this report are:
Amcor Limited
Bemis Company, Inc.
Westrock Company
Ball Corporation
Huhtamaki OYJ
Sealed Air Corporation
Berry Plastic Corporation.
Reynolds Group Holding
International Paper Company
DS Smith PLC

Food Service Packaging Market Share and Forecast, By Material
· Plastic

· Metal

· Others

Food Service Packaging Market Growth and Forecast, By Packaging Type
· Paper and Paperboard

· Flexible

· Rigid

· Others

Food Service Packaging Market Size and Forecast, By Application
· Food & Beverage

· Fruit & vegetables

· Bakery & confectionery

· Dairy products

· Others

More Details on this Report At: https://www.marketstudyreport.com/reports/global-food-service-packaging-market-size-research 

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