The global takeaway containers market size is set to reach a valuation of US$ 21.3 Bn in 2022, and further expand at a CAGR of 5.3% from 2022-2032. It is anticipated to reach US$ 35.6 Bn by the end of 2032.
Packaging is crucial in providing consumers with convenient options. Food delivery has becoming increasingly popular, and packaging is helping to make food and beverage goods more portable. The key to success in the food service sector is convenience. The rapidly growing food sector has led to a huge increase in the popularity of takeaway containers. Packaging is thought to be crucial for maintaining the food’s freshness and safety against contamination. Delivering food to areas that are remote from restaurants is also made easier by a longer shelf life.
One of the key drivers of the takeaway containers market is the increasing demand for sustainable and eco-friendly options. Many customers are becoming more environmentally conscious and are seeking out containers that are made from renewable materials and can be easily recycled or composted. As a result, many manufacturers are investing in new technologies and materials to create more sustainable and eco-friendly takeaway containers.
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Plastic, paper & paperboard, metal, glass, and other materials are used to make takeout containers. Recycled materials are in high demand for takeaway containers compared to the use of fresh materials, as customers favour environmentally friendly packaging options.
To extend the shelf life of food, several businesses are investing enormous sums in research and development (R&D) projects. To preserve the product’s quality, they are also increasing the shelf life of the packaging. Due to changes in consumers’ lifestyles, quick-service restaurants, full-service restaurants, and catering services are preferred by consumers over conventional dining options. During the forecast period, this preference is expected to drive demand for takeout containers.
Key Takeaways from Global Takeaway Containers Market
- Based on material, the plastic takeaway containers segment is projected to hold around 57% of the market share by the end of 2022.
- By product type, the bowls and plates segment is estimated to create an incremental value of US$ 4.5 Bn during the foreseeable period.
- By end user, the hotels, restaurants, & cafes segment is likely to generate a share of 33% in the takeaway containers market in 2022.
- The India takeaway containers market is projected to grow at 6.4% CAGR during 2022-2032.
- The U.S. takeaway containers market is expected to create an incremental opportunity of around US$ 1.9 Bn in the forecast period.
“Rapid expansion of the foodservice sector and emergence of various online food delivery platforms worldwide are anticipated to propel the demand for takeaway containers. Besides, eco-friendly takeaway containers made by using paper and paperboard materials are gaining traction owing to rising concerns about the environment, which would aid growth,” says a FMI analyst.
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Expansion of Food Service and Quick Service Restaurants to Boost the Market
Foodservice and quick-service restaurants will exhibit significant growth in the upcoming decade as people are preferring restaurant foods more instead of the traditional method of cooking food at home. It will further increase the demand for takeaway containers. Food packaging products like trays, bowls, and cups are used for the packaging of foods that need to be delivered to consumers.
The number of working people is growing continuously and changes in eating habits would result in the high preference for ready-to-eat food items, as well as restaurant foods. Therefore, demand for innovative packaging is increasing among full-service restaurants, catering services, and quick-service restaurants.
Manufacturers to Innovative Their Existing Product Lines
Packaging plays an important role in the food industry as ready-to-eat food requires a long shelf life. Thus, the packaging industry is innovating different types of solutions. It is also helping them to control inventory & market availability and ensure that the food is not wasted.
Moreover, manufacturers are focusing on developing new products which would meet the tamper-evident criteria. They are launching new takeaway containers that can keep the meal components separate. Rising number of fast food chains across the globe is another vital factor that would aid growth.
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Competitive Landscape: Takeaway Containers Market
Key players operating in the global takeaway containers market are Huhtamaki Oyj, Georgia-Pacific LLC, Winpak Ltd., WestRock Company, Sabert Corporation, Amcor Plc, Sealed Air Corporation, Berry Global Group, DS Smith plc, International Paper Company, Reynolds Group Holding Limited, Detpak, Genpak, LLC, Pactiv LLC, Dart Container Corporation, Fabri-Kal, Vegware US, Karat by Lollicup, and Pappco Greenware among others.
Takeaway Containers Market Outlook by Category
By Product Type:
- Clamshell
- Cartons and Boxes
- Bowls and Plates
- Cups
- Bottles
- Jars
By Material:
- Plastic
- Paper & Paperboard
- Metal
- Glass
- Others (Bagasse, etc.)
By End User:
- Hotels, Restaurants, & Cafes
- Institutional
- Online Food Delivery
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