Global Food Service Disposables Market to Reach $74.8 Billion by 2026

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May 18, 2021, 11:25 ET

SAN FRANCISCO, May 18, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Food Service Disposables - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 17; Released: May 2021
Executive Engagements: 11502
Companies: 133– Players covered include Airlite Plastics Co.; Anchor Packaging Inc.; Biopac India Corporation Ltd.; Carlisle FoodService Products; Cascades Incorporated; D&W Fine Pack LLC; Dart Container Corporation; DOpla S.P.A; Eco-Products, Inc.; Georgia-Pacific LLC; Gold Plast Spa; GreenGood USA; Huhtamaki Oyj; International Paper; Lollicup USA, Inc.; Packnwood; Pactiv LLC; Sabert; Vegware; WestRock Company; WinCup; WNA, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Plates, Cups & Glasses, Trays & Containers, Bowls & Tubs, Cutlery, Other Product Types); Raw Material (Plastics, Paper & Paperboard, Aluminum); End-Use (Restaurants, Retail Stores, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Food Service Disposables Market to Reach $74.8 Billion by 2026
Food service disposables are containers for prepared food products which can be disposed or recycled after use. Some of such disposables include tray papers, bowls, glasses, plates, wraps, napkins, and spoons. These products provide ease of packaging as well as convenience for customers along with cleanliness and hygiene. Increasing demand for ready to eat (RTD) and on-the-go foods; growing online delivery services offered by coffee shops, retail outlets, and restaurants; busy lifestyles of customers, increasing urbanization, and growing participation of women in workforce have been contributing to the steady rise in demand for disposable products for food items. The growing emergence of QSR (quick service restaurants) has also spurred growth in the market. Paper and paperboard, aluminum, or plastic are the key raw materials generally employed in the production of food service disposables, with plastic being the most widely used material. Demand for plastic-based food disposables is expected to remain high on account of their light weight and capability to hold hot food and beverages.

Amid the COVID-19 crisis, the global market for Food Service Disposables estimated at US$54.2 Billion in the year 2020, is projected to reach a revised size of US$74.8 Billion by 2026, growing at a CAGR of 5.7% over the analysis period. Plates, one of the segments analyzed in the report, is projected to record a 6.9% CAGR and reach US$27.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cups & Glasses segment is readjusted to a revised 5.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $14.9 Billion in 2021, While China is Forecast to Reach $13.3 Billion by 2026
The Food Service Disposables market in the U.S. is estimated at US$14.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.3 Billion by the year 2026 trailing a CAGR of 7.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 5.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4% CAGR. Growing demand for fast food especially in the US and Canada has been a major driving factor for the food service disposables in the region. The rising adoption of double walled embossed cups, introduction of products with innovative features and designs, and increase in online food ordering are the main factors driving growth in the region, especially in the US. Growth in Europe is mainly being driven by the increasing interest of customers in fast casual dining. Adoption of wood, paper, and aluminum food disposables is rising on account of government regulations regarding the usage of plastic and concerns about the environment. Growing number of restaurants, rising interest in fast food, street food and takeaways, increasing online food ordering, and growing number of retail food chains drives strong growth in the Asia-Pacific region.

Trays & Containers Segment to Reach $10.6 Billion by 2026
Food Service Trays are meant for carrying, displaying, or for holding articles. Disposable food service trays are lightweight and inexpensive serving trays. Trays and hinged containers are increasingly being produced using renewable resources. Paper and paperboard boxes, plastic clamshells, and cartons among various others constitute the containers segment. In the global Trays & Containers segment, USA, Canada, Japan, China and Europe will drive the 3.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$6.4 Billion in the year 2020 will reach a projected size of US$8.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2026, while Latin America will expand at a 4.7% CAGR through the analysis period. More

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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.