Sales of Food Service Packaging to Account for US$ 170,000 Mn Revenues by 2026-end In terms of volume, a CAGR of 6.9% has been slated for the global food service packaging market throughout the forecast period (2017-2026), according to a new Fact.MR report. Worldwide sales of food service packaging are poised to account for over US$ 170,000 Mn revenues by 2026-end. For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=465 With surging health-consciousness among consumers across the globe, numerous commercial as well as non-commercial foodservice outlets, with healthy and nutritious meal offerings, have emerged since the recent past, enabling consumers in curbing their calorie intake. This is further creating the need for efficient & effective packaging solutions in the foodservice settings. Additionally, changing consumer demand patterns regarding food packaging, growing preference for ready-to-eat foods, and increasing emphasis on utilization of convenient packaging have fuelled demand for foodservice packaging. Many players in the market have also commenced introducing sustainable foodservice packaging solutions, meanwhile constantly investing in R&D activities associated with recyclable & reusable packaging materials. For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=465 9 Key Future Projections of Food Service Packaging Market for the Forecast Period 20172026 (In Terms of Volume)
North America will continue to hold the largest market share, with sales pegged to exceed 15,500 ‘000 tons by 2026-end. Sales of food service packaging products in North America are set to exhibit the highest CAGR through 2026. Food service packaging sales in Europe and Asia-Pacific excluding Japan (APEJ) are expected to account for nearly similar shares of the market by 2026-end. However, sales in APEJ will record a relatively faster growth than those in Europe through 2026. On the basis of product type, plates will remain dominant in the market, succeeded by cups. Sales of these two food service packaging products are collectively estimated to exceed 21,000 ‘000 tons by 2026-end. The market shares of bowls and shallow trays among products are poised to remain approximately equal by 2026-end. In addition, clamshell containers are likely to prevail as fast-selling products in the market.