The Takeaway Containers Industry 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.
The market is poised for substantial growth in the forthcoming forecast period. As per a recent report by FMI, sales are projected to exhibit a positive upward trajectory from 2023 to 2033, with a promising outlook of reaching a substantial market valuation of US$ 104.8 billion by 2033. The key driver behind this anticipated growth is the escalating demand for robust and durable containers, essential for securely delivering food items to consumers, further bolstering the market’s expansion.
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.
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.
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Drivers:
- Rise in Food Delivery Services: The growth of food delivery services, especially through online platforms, has significantly increased the demand for takeaway containers.
- Consumer Convenience: Takeaway containers offer convenience for consumers who prefer to order food to-go or have leftovers from dine-in meals packaged for later consumption.
- Eco-Friendly Alternatives: The demand for eco-friendly takeaway containers, such as biodegradable, compostable, and reusable options, is on the rise due to environmental concerns.
- Regulatory Support: Government regulations and policies encouraging the use of eco-friendly and sustainable packaging options are driving the adoption of such containers.
- Customization and Branding: Takeaway containers can be customized with branding and designs, providing an opportunity for businesses to enhance their brand image.
Restraints:
- Environmental Impact: Even though there is a trend toward eco-friendly containers, a significant portion of the takeaway container market still relies on non-biodegradable plastics, which have environmental consequences.
- Cost: Eco-friendly and sustainable takeaway containers can be more expensive than traditional plastic options, impacting the cost of food service operations.
- Consumer Behavior: Some consumers still prefer single-use plastic containers due to their perceived convenience, durability, and familiarity.
- Durability and Performance: Eco-friendly alternatives may have limitations in terms of durability, heat resistance, and performance compared to traditional plastic containers, making them less suitable for certain applications.
- Supply Chain Challenges: Ensuring a consistent supply of eco-friendly materials for takeaway containers can be challenging, as it depends on factors such as material availability and production capacity.
- Waste Management and Recycling: Proper disposal and recycling of takeaway containers are necessary for sustainability. Insufficient recycling infrastructure and consumer behavior can hinder recycling efforts.
- Quality Control: Maintaining consistent quality standards for takeaway containers, especially for eco-friendly options, can be complex, given variations in materials.
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Leading Players
- Huhtamaki Oyj
- Genpak LLC
- Pactiv LLC
- Dart Container Corporation
- Georgia-Pacific LLC
- Vegware USA
- Karat by Lollicup
- Detpak
- Pappco Greenware
- Winpak Ltd.
- WestRock Company
- Sabert Corporation
- Anchor Packaging LLC
- Amcor Plc
- Berry Global Group
- Sealed Air Corporation
Takeaway Containers Industry 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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Report Coverage
- Revenue Forecast
- Volume Forecast
- Company Ranking
- Competitive Landscape
- Growth Factors
- Trends
- Pricing Analysis
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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