Increasingly fast-paced lifestyles, urbanization trends, growth in take away food spending, and expansion in the limited service restaurant sector are some factors increasing the demand for foodservice disposables. The global foodservice disposables market is experiencing rapid growth, linked to growing online food ordering and home delivery services, according to a report by Persistence Market Research. Increasing consumer concern regarding hygiene is the most important factor driving the growth of the disposable food containers industry. Along with hygiene, comes the convenience of carrying food in lightweight packaging. For a better understanding and analysis of the industry, the market has been segmented on the basis of raw material, product type, end use and region. Foodservice disposables provide restaurants and institutions with a myriad variety of attractive and functional designs for packaging.
The global foodservice disposables market is estimated to expand at a CAGR of 5.1 percent from 2015 to 2021, to account for USD 27,187 Mn by 2021, according to Persistence Market Research. The market was valued at USD 19,200 Mn in 2014. In terms of volume, the global foodservice disposables market accounted for 23,167 million units in 2014 and is projected to increase at a CAGR of 5.8 percent from 2015 to 2021. Asia-Pacific and the Middle East & Africa are projected to be the fastest-growing markets over the next six years. The growth of the Asia-Pacific market is mainly attributed to entry of new players and capacity expansion by market leaders in the region. Entry of major players in the Middle East & Africa is fueling the growth of the foodservice disposables market in the region. A brand new market report, The Future of Packaging in the Middle East and North Africa 2019 by Smithers Pira forecasts that the MENA packaging market will grow from USD35.4 – 45.2 billion in 2014-2019 at a CAGR of 5.0 percent; a higher growth rate than the global packaging market, forecast to grow at 4 percent. Among product types, disposable plates segment accounted for the largest market share of 31.2 percent in 2014, and projected to maintain its dominance through 2021, according to Persistence Market Research.
“… MENA packaging market will grow from USD35.4 – 45.2 billion in 2014-2019 at a CAGR of 5.0 percent”
Trays and containers segment is also projected to showcase a good growth over the forecast period (2015-2021). This is mainly attributed to its various features such as being microwave safe and offering separate serving compartments. Plastics are the majorly used raw material for the manufacture of disposable foodservice products. Paper & paperboard segment also accounts for a significant share in the market. The segment is expected to gain traction over the forecast period (2015-2021), owing to increasing consumer inclination towards sustainable materials. Among end use, restaurants were estimated to be valued at USD6,747 Mn by 2015 end, reflecting a Y-o-Y growth of 5.0 percent. Increasing number of online orders and home delivery of food over the last few years, linked with growth in number of working women and high demand for ready-to-eat food is the major factor driving the growth of the segment. Busy lifestyle and low consumer inclination towards cooking at home thus acts as a major driver for foodservice disposables market. Among raw materials, plastics segment is projected to account for the largest share in the Asia Pacific market through 2021. Key players in the foodservice disposable market include Dart Container Corporation, Georgia-Pacific LLC, Anchor Packaging Inc., D&W Fine Pack LLC, and others.
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CPH World Media