LONDON--(BUSINESS WIRE)--Technavio analysts forecast the foodservice disposables market in the US to grow at a CAGR of more than 5% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the foodservice disposables market in the US for 2017-2021. The market is segmented based on raw material (plastic, paper, and aluminum) and end-user (QSR, restaurants, and non-alcoholic beverage storages).
The growth of the foodservice disposables market in the US will be driven by various factors. Many players are likely to introduce innovative and unique products in the market and address the needs of foodservice providers through customization to stimulate sales and gain market share. The focus areas mostly will be preventing moisture that develops outside or inside of cups and leakage and maintaining freshness along with taste.
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Technavio food and beverages research analysts highlight the following three factors that are contributing to the growth of the foodservice disposables market in the US:
- Growing popularity of double wall embossed cups
- Products with innovative designs and features
- Increase in delivery orders and online food ordering
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Growing popularity of double wall embossed cups
Due to urbanization and busy schedules, people in the US are increasing their spending on food and beverages out-of-home. Fast foods such as burgers and French fries are significantly popular in the country, and the takeaway market for coffees and other hot beverages has also grown significantly here.
Manjunath Reddy, a lead food service research analyst at Technavio, says, “Extra coverings around the cup present greater possibilities of design in the context that foodservice providers can mix-and-match embossed patterns of their choice along with the logo of their brands. Huhtamaki and Seda North America provide such double wall embossed cups. Due to their heat insulating ability, these cups are gaining significant popularity and propelling the segment's growth in the country.”
Products with innovative designs and features
For foodservice disposables, product design plays an important role in maintaining the temperature and texture of the food. A well-designed product also restricts leakage or spillage of food. Customers also want solutions for oil and grease in takeaway packaging. Foodservice providers look for solutions in such areas and customization according to their brand and food and beverage offerings, as this helps them to market their products better and create brand awareness.
“Many foodservice disposables manufacturers are introducing new products with solutions for such problems in various designs and features. Thus, during the forecast period, this will influence demand for foodservice disposables. For instance, in 2015, Dart Container relaunched its Anthora Single-Sided Poly Paper Hot Cups. These cups are lined with PE, which prevents moisture formation inside or outside of cups as well as leakage. These cups are mostly used for serving hot beverages such as coffee and tea,” adds Manjunath.
Increase in delivery orders and online food ordering
In 2016, food delivery orders through the online channel constituted less than 6% of the overall food and beverage market in the US. This presents a significant growth opportunity for online food ordering and delivery services during the forecast period. Many restaurants have become more accessible due to the availability of online services, and such restaurants also provide food at a lower cost compared to the competition.
Online food ordering and delivery orders present a huge growth potential in terms of size and contribution to the overall market share. Many online food ordering vendors are emerging in this market. For example, Mr. Delivery provides online food ordering and delivery services. It operates in 20 states across the US. Ordering can be done from a desktop and mobile. LUVO, Eat24, and delivery.com are other vendors providing online food ordering and delivery services.
Top vendors:
- Anchor Packaging
- Dart Container
- Pactiv
- WestRock
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