The global takeaway container market is anticipated to grow at a CAGR of 5.3% from 2022 to 2032, reaching US$ 35.6 billion by the end of that year, according to FMI. The market was worth US$21.3 billion in 2022.
Packaging plays a key role in offering consumers practical options. Meal delivery is become more and more popular, and packaging makes food and drink products more portable. Convenience is the secret to success in the food service industry. The popularity of takeaway containers has greatly increased as a result of the continuously expanding food industry. It is believed that packaging is essential for preserving the food’s freshness and safety against contamination. Food delivery to locations far from eateries by a longer shelf life.
Plastic, paper & paperboard, metal, glass, and other materials are used to make takeout containers. Recycled materials are in high demand for takeaway containers compared to the use of fresh materials, as customers favour environmentally friendly packaging options.
To extend the shelf life of food, several businesses are investing enormous sums in research and development (R&D) projects. To preserve the product’s quality, they are also increasing the shelf life of the packaging. Due to changes in consumers’ lifestyles, quick-service restaurants, full-service restaurants, and catering services are preferred by consumers over conventional dining options. During the forecast period, this preference is expected to drive demand for takeout containers.
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Key Takeaways from Global Takeaway Containers Market
- Based on material, the plastic takeaway containers segment is projected to hold around 57% of the market share by the end of 2022.
- By product type, the bowls and plates segment is estimated to create an incremental value of US$ 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.
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.
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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.
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.
Report Benefits & Key Questions Answered
• Takeaway Containers Historical Market Analysis: The detailed survey by FMI, examines key factors in the Water Resistant Packaging market that affected the growth in the market for the last assessment period 2015–2021 and also studies their consequent impact. It also provide refined the sales projection of the Water Takeaway Containers market for the forecast period 2022 to 2032
• Takeaway Containers Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand fo Takeaway Containers for the assessment period. As per the study, the demand for Takeaway Containers will grow at a robust CAGR between 2022 to 2032.
• Takeaway Containers Market Trend Analysis: The latest study by FMI on the Takeaway Containers market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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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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