This market research report covers the growth prospects of the global foodservice disposables market with segmentations based on the type of materials (plastic, paper, aluminum, and others) and the geography (North America, ROW, Western Europe, and APAC). The leading vendors include Anchor Packaging, Dart Container, Huhtamaki, and Reynolds.
Technavio has released its new market research report, global foodservice disposables market, which is expected to grow at a CAGR of 7% between 2016 and 2020. Much of this market’s growth can be attributed to the augmented demand for disposables from the delivery takeaway restaurants and growing preference for ready-to-eat food products. North America dominates the global market for foodservice disposables, owing to changing lifestyle of consumers and the maturity of the food retail industry.
“Emergence of biodegradable plastics is one of the latest trends gaining significance in this market. Biodegradable plastics are non-toxic and made from petrochemicals with biodegradable additives. Manufacturers of foodservice disposables are adopting materials such as polyvinyl alcohol, polyanhydrides, and polylactic acid to reduce the use of conventional plastics. Owing to stringent environment compliance regulations worldwide, vendors are expected to adopt these as a compulsory substitute over the next few years,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
Augmented need for consumer convenience is expected to drive market growth during the predicted period. In recent times, it has been observed that many foodservice companies are focusing on new methods to serve food to appease their customers. This change in the method of serving food products is envisaged to impel market growth during the forecast period.
The key vendors in the global foodservice disposables market include Anchor Packaging, Dart Container, Huhtamaki, and Reynolds. This market is extremely fragmented due to the presence of many small and large vendors. The vendors in this market compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion to gain prominence in the market. Companies that have access to large financial resources are anticipated to grow faster during the forecast period.
A more detailed analysis is available in the Technavio report, Global Foodservice Disposables Market 2016-2020.
We can customize this reports by other regions and specific segments upon request.
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