According to Future Market Insights (FMI), the global takeaway container market is projected to witness a robust compound annual growth rate (CAGR) of 5.3% from 2022 to 2032, culminating in an estimated value of US$35.6 billion by the end of 2032, compared to its worth of US$21.3 billion in 2022.
A significant driver behind the rising popularity of takeaway containers lies in the essential role they play in providing consumers with convenient options. The packaging of food and beverage products makes them more portable, and the growing trend of meal delivery further boosts the demand for takeaway containers. In the competitive food service industry, convenience is key to success, and takeaway containers have become increasingly favored as the food industry continues to expand. Packaging is deemed crucial for preserving the freshness and safety of food, protecting it from contamination, and enabling longer shelf life, which is especially important for food delivery to distant areas from restaurants.
Takeaway containers are crafted from various materials such as plastic, paper & paperboard, metal, glass, and others. There is a significant preference for using recycled materials in takeaway containers to align with customer demand for environmentally friendly packaging solutions.
In response to the need for extended food shelf life, numerous businesses are investing substantial sums in research and development (R&D) projects. They are also focusing on enhancing the packaging’s shelf life to maintain the product’s quality. The evolving lifestyles of consumers have led to a preference for quick-service restaurants, full-service restaurants, and catering services over conventional dining options, thereby driving the demand for takeaway containers during the forecast period
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Key Takeaways from Global Takeaway Containers Market
- Based on material, the plastic takeaway containers segment is projected to hold around 57% of the market share by the end of 2022.
- By product type, the bowls and plates segment is estimated to create an incremental value of US$ 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:
• Historical Market Analysis of Takeaway Containers: The comprehensive survey conducted by FMI analyzes key factors that influenced the growth of the Water Resistant Packaging market during the assessment period from 2015 to 2021. It also examines their subsequent impact and refines the sales projections for the Water Takeaway Containers market during the forecast period from 2022 to 2032.
• Demand Outlook Analysis of Takeaway Containers: FMI’s extensive study provides essential insights into the key drivers and upcoming opportunities propelling the demand for Takeaway Containers throughout the assessment period. According to the study, the demand for Takeaway Containers is expected to grow at a robust CAGR between 2022 and 2032.
• Market Trend Analysis of Takeaway Containers: FMI’s latest study on the Takeaway Containers market reveals compelling insights into the expansion strategies adopted by top-tier players in response to current trends. It provides details about upcoming trends in the packaging industry, enabling market players to devise effective strategies 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
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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