Flexible packaging segment projected to be the fastest-growing during the forecast period of Food Service Packaging Market

Food service packaging is used to package processed and semi-processed food products. It caters to service sectors such as restaurants, fast-food joints, takeaway restaurants, and catering services. It helps in maintaining the hygiene, quality, and safety of food products. It provides heat resistance, prevents the growth of microorganisms, and helps extend the shelf-life of the food product.

The food service packaging market has been segmented, on the basis of packaging type, into flexible packaging, paper & paperboard packaging, rigid packaging and others. The market for flexible packaging is expected to grow at the highest CAGR. The increasing demand for sustainable packaging has propelled the market for flexible packaging in the food service packaging industry.

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Cost-effectiveness of food service packaging

There has been a gradual shift in consumer choice from traditional methods of preparing food at home to buying packaged products. Food service packaging mediums require less resources and energy as they are manufactured with recycled material; hence, packaged and disposable packs are available at low cost and importantly, occupy 35% less retail shelf space, making it cost-effective. It also offers a perfect alternative for display by creating more options for eye-catching graphics, ultimately increasing the marketability of the product.

The food service packaging market has a positive outlook due to high growth in the food industry and the beverages sector. It is easy to open food service packaging packs as they are available in the form of both rigid as well as flexible, which makes it convenient for handling the product. Due to busy lifestyles, the demand for convenient products has increased, which has led to a rise in the demand for flexible and rigid packs. Due to this, transport and shipping costs are cheaper for food service packaging. Furthermore, it reduces fuel consumption in terms of transportation.

The report “Food Service Packaging Market by Material (Plastic, Metal), Packaging Type (Flexible, Rigid, Paper & Paperboard), Application (Alcoholic Beverages, Non-alcoholic Beverages, Fruits & Vegetables, Bakery & Confectionery) – Global Forecast to 2022″, The food service packaging market size is estimated to grow from USD 65.36 Billion in 2017 to USD 84.33 Billion by 2022, at a CAGR of 5.23% during the forecast period.