According to FMI, the size of the global takeaway container market is projected to increase at a CAGR of 5.3% from 2022 to 2032, reaching US$ 35.6 billion by the end of that year. In 2022, the market had a value of US$ 21.3 billion.
Packaging is crucial in providing consumers with convenient options. Food delivery has becoming increasingly popular, and packaging is helping to make food and beverage goods more portable. The key to success in the food service sector is convenience.
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The rapidly growing food sector has led to a huge increase in the popularity of takeaway containers. Packaging is thought to be crucial for maintaining the food’s freshness and safety against contamination. Having a longer shelf life also makes it easier to distribute food to places that
Takeaway containers are made from a variety of materials such as plastic, paper & paperboard, metal, and glass. However, as compared to the usage of fresh materials, recycled materials in takeaway containers are in high demand as consumers are preferring sustainable packaging solutions.
Some companies are investing huge sums in research and development (R&D) activities to increase the shelf-life of food. They are also extending the shelf-life of packaging to maintain the quality of the product. Consumers prefer quick-service restaurants, full-service restaurants, and catering services instead of a traditional way of dining due to changes in their lifestyle, which is projected to propel the demand for takeaway containers during the forecast period.
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Key Takeaways from Global Takeaway Containers Market
- Based on material, the plastic takeaway containers segment is projected to hold around 57% of the market share by the end of 2022.
- By product type, the bowls and plates segment is estimated to create an incremental value of US$ 4.5 Bn during the foreseeable period.
- By end user, the hotels, restaurants, & cafes segment is likely to generate a share of 33% in the takeaway containers market in 2022.
- The India takeaway containers market is projected to grow at 6.4% CAGR during 2022-2032.
- The U.S. takeaway containers market is expected to create an incremental opportunity of around US$ 1.9 Bn in the forecast period.
“Rapid expansion of the foodservice sector and emergence of various online food delivery platforms worldwide are anticipated to propel the demand for takeaway containers. Besides, eco-friendly takeaway containers made by using paper and paperboard materials are gaining traction owing to rising concerns about the environment, which would aid growth,” says a FMI analyst.
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Competitive Landscape: Takeaway Containers Market
Key players operating in the global takeaway containers market are Huhtamaki Oyj, Georgia-Pacific LLC, Winpak Ltd., WestRock Company, Sabert Corporation, Amcor Plc, Sealed Air Corporation, Berry Global Group, DS Smith plc, International Paper Company, Reynolds Group Holding Limited, Detpak, Genpak, LLC, Pactiv LLC, Dart Container Corporation, Fabri-Kal, Vegware US, Karat by Lollicup, and Pappco Greenware among others.
Takeaway Containers Market Outlook by Category
By Product Type:
- Cartons and Boxes
- Bowls and Plates
- Paper & Paperboard
- Others (Bagasse, etc.)
By End User:
- Hotels, Restaurants, & Cafes
- Online Food Delivery
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