North America Food Service Packaging Market Forecast Report 2021-2028: Significant Market Attractiveness for Recycling, Reusable, and Eco-Friendly Materials - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "North America Food Service Packaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Material, Packaging Type and Application" report has been added to ResearchAndMarkets.com's offering.

Proliferation in Production Capacity of Packaging Products to Escalate North America Food Service Packaging Market Growth

North America Food Service Packaging Market was valued at US$ 24,502.38 million in 2021 and is projected to reach US$ 34,995.67 million by 2028. It is expected to grow at a CAGR of 5.2% from 2021 to 2028.

Various food service packaging products include bowls, plates, cups, clamshells, and wraps. The food service packaging market serves the food service industry consisting of offline and online food service stores. A significant shift of the consumers towards convenience food and on-the-go lifestyles is mainly driving the North America food service packaging market.

Convenience is one factor accountable for boosting the adoption of fresh and nutritious ready-to-cook meals, and hence the demand for easy-to-cook packaging is rising. Due to individuals' time constraints, ready-to-cook meals help the masses manage their eating time. The growing demand for frozen, processed & semi-processed food items with higher nutritional values is helping the food packaging manufacturers expand their production capacity of packaging products for a wide range of product categories.

Amcor plc; Berry Global Inc.; Huhtamaki; Genpak, LLC; WestRock Company; Sealed Air; Ball Corporation; DS Smith; Graham Packaging Company; and Graphic Packaging Holding Company are some of the players operating in the North America food service packaging market.

Players operating in the North America food service packaging market are highly focused on developing high-quality and innovative product offerings to fulfill the customer's requirements.

Impact of COVID-19 Pandemic on North America Food Service Packaging Market

In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the shutdown of national and international boundaries. Various challenges, such as travel bans and the closure of institutes and companies, have hit associated food service operators.

The demand for different food service packaging products declined due to the closure of many quick-service restaurants, cafes, hotels, and other eateries during the pandemic. However, the need for food service packaging products is gradually increasing, backed by the reopening of businesses.

Key Market Dynamics

Market Drivers

• Proliferation in Production Capacity of Packaging Products
• Changing Customer Preferences for High-Quality and Standard Products

Market Restraints

• Complicated Nature of Supply Chain Business

Market Opportunities

• Significant Market Attractiveness for Recycling, Reusable, and Eco-Friendly Materials
• Evolving Online Food Ordering Market

Future Trends

• Advent of Smart and Intelligent Packaging Materials in Food Industry

Company Profiles

• Amcor plc
• Berry Global Inc.
• Huhtamaki
• Genpak, LLC
• WestRock Company
• Sealed Air
• Ball Corporation
• DS Smith
• Graham Packaging Company
• Graphic Packaging Holding Company

For more information about this report visit https://www.researchandmarkets.com/r/hk6hw