Takeaway containers are made from a variety of materials such as plastic, paper & paperboard, metal, and glass. However, as compared to the usage of fresh materials, recycled materials in takeaway containers are in high demand as consumers are preferring sustainable packaging solutions.
The Takeaway Containers Market is poised to achieve a valuation of US$ 104.8 billion by 2023, with a projected steady growth rate of 4.0% from 2023 to 2033, ultimately reaching US$ 153.2 billion by the conclusion of 2033. The market is expected to witness revenue escalation, with the top 3 countries collectively accounting for 30 to 35% of the global market by the end of 2023.
For enabling convenient options for consumers, packaging plays an important role. Popularity of food delivery has soared and packaging is playing an important role in improving the portability of food and beverage products. In the food service industry, convenience is the key. Takeaway containers have become very popular owing to the rapid expansion of the food industry. Packaging is considered to be important in order to keep the food fresh and safe from being contaminated. A longer shelf-life also helps to deliver food to locations that are far from restaurants.
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Takeaway containers, valued for their durability, cost-effectiveness, and ability to maintain safety and hygiene standards, are witnessing a surge in demand across diverse sectors such as restaurants, hotels, food courts, airports, online food delivery platforms, offices, schools, and hospitals. Recognizing this growing demand, manufacturers are ramping up their production capacities for takeaway packaging, specifically focusing on takeaway containers to meet the rising needs of various industries.
Market Trends
The evolving landscape sees restaurants expanding their reach by delivering food to even distant locations, fostering a heightened demand for packaging that can effectively prolong the shelf life of the food. An extended shelf life not only serves as a potent marketing tool to attract new customers but also plays a crucial role in maintaining food quality and preventing deterioration. These factors collectively contribute to the expansion of the takeaway container market, presenting manufacturers with new avenues for growth and innovation.
In response to the imperative to preserve freshness, extend shelf life, and reduce food contamination, manufacturers in the takeaway packaging industry are increasingly focusing on introducing sustainable alternatives. Biodegradable takeaway packaging options are being offered to mitigate the environmental impact of packaging waste. Modern consumers exhibit a strong preference for 100% recyclable and reusable packaging, leading to a significant uptick in demand for sustainable packaging solutions. The use of recycled materials, which are cost-effective and demand fewer resources for production, is becoming prevalent in the manufacturing of takeout food 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.
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.
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Market Segmentation
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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