Foodservice Disposables Market Size, Trends, And Forecast 2024-2033
Global Foodservice Disposables Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK , August 29, 2024 /EINPresswire.com/ — The global foodservice disposables market is projected to grow from $58.86 billion in 2023 to $62.58 billion in 2024, at a compound annual growth rate (CAGR) of 6.3%. The market is further anticipated to reach $80.37 billion by 2028at a compound annual growth rate (CAGR) of 6.5%, driven by various factors such as the proliferation of supermarkets and retail chains selling ready-to-eat meals, the growing number of public events and festivals, and the increasing popularity of coffee shops and takeaway coffee culture.
Growth of Online Food Industry Fuels Market Expansion
The growth of the online food industry is a major driver of the foodservice disposables market. As consumer demand for convenience rises, coupled with advancements in delivery logistics and the widespread adoption of mobile applications for ordering food, the need for foodservice disposables that offer convenient, hygienic, and cost-effective packaging solutions has increased significantly. According to the Australian Bureau of Statistics, online food retailing sales grew from 5.8% in December 2022 to 6.4% in December 2023, indicating a growing trend that is expected to continue.
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Key Players and Market Trends
Major companies in the foodservice disposables market, such as WestRock Company, International Paper, Berry Global Inc., and Graphic Packaging International LLC, are focusing on the development of sustainable packaging solutions to address environmental concerns and meet consumer preferences for eco-friendly products. For example, Amcor launched the AmFiber platform in January 2022, introducing innovative paper-based packaging solutions to enhance performance and sustainability across various consumer applications.
Innovative Trends Shaping the Market
Significant trends in the foodservice disposables market include the integration of digital technologies in packaging, the expansion of e-commerce platforms, the demand for automation in the production of disposable products, innovation in edible packaging materials, and the implementation of smart packaging solutions. These trends are poised to shape the market, driven by increasing regulatory scrutiny and consumer awareness about environmental impact.
Segments:
• Packaging Type: Rigid, Flexible
• Material: Plastic, Paper And Paperboard, Bagasse, Polylactic Acid, Other Materials
• Application: Food Service, Online Delivery, Institutional
• End User: Restaurant, Hotels And Motels, Tea, Coffee And Snack Shops, Retail And Vending Machines, Sports And Recreation, Buffets And Cafeterias, Food Delivery Outlets, Other End-Users
Regional Insights: North America to Lead Growth
In 2023, Asia-Pacific was the largest region in the foodservice disposables market. Looking forward, North America is expected to be the fastest-growing region during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Foodservice Disposables Global Market Report 2024from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
TheFoodservice Disposables Global Market Report 2024byThe Business Research Company is the most comprehensive report that provides insights on foodservice disposables market size, foodservice disposables market drivers and trends, foodservice disposables market major players, competitors’ revenues, foodservice disposables marketpositioning, and foodservice disposables market growth across geographies.The foodservice disposables market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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