Dublin, July 13, 2021 (GLOBE NEWSWIRE) -- The "Food Service Disposables - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
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$79.7 Billion by 2027, growing at a CAGR of 5.7% over the analysis period 2020-2027.
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 an early 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 $14.5 Billion, While China is Forecast to Grow at 7.3% CAGR
The Food Service Disposables market in the U.S. is estimated at US$14.5 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$14.5 Billion by the year 2027 trailing a CAGR of 7.3% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.1% and 5.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.
Trays & Containers Segment to Record 4.2% CAGR
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$11.6 Billion by the year 2027, while Latin America will expand at a 4.7% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
Food Service Industry Hit Hard by the COVID-19 Pandemic: YoY Change (in %) in Number of Daily Seated Diners at Restaurant due to Outbreak during February-July 2020
Pandemic Set to Bring About Massive Changes in Consumers' Dine Out Preferences
Food Service Operators Strategize to Adapt to Changing Consumers' Behaviors
As Infection Prevention Becomes Important, Restaurants Increasingly Moving towards Single-Use Products
An Introduction to Food Service Disposables
Types of Food Service Disposables
Raw Materials Used in Food Service Disposables
Global Food Service Disposables Market: Prospects & Outlook
Plastic Remains the Most Widely Used Materials for Food Service Disposables
Developed Regions Lead, Developing Economies to Spearhead Future Growth
Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 129 Featured)
Airlite Plastics Co.
Anchor Packaging Inc.
Biopac India Corporation Ltd.
Carlisle FoodService Products
D&W Fine Pack LLC
Dart Container Corporation
Gold Plast Spa
Lollicup USA, Inc.
3. MARKET TRENDS & DRIVERS
Changing Food Habits and Trend towards Convenience & Ready-to-Eat Foods Fuels Foodservice Disposables Market
Dynamics of Foodservice Outlets and Restaurants Set the Tone for Disposables Demand
Food Disposables Market Benefits from the Growth of QSRs and Fast Food Establishments
Healthy Gains in Third Party Online Food Delivery Services & Mobile Apps Drive Need for Disposables
Increasing Smartphone Penetration & Growing Internet Connectivity Fuel Online Food Delivery Services, Augur Well for Disposables Market
Plastic Food Service Disposables Raise Concerns Over Environmental Pollution, Drive Focus onto Eco-Friendly Alternatives
As Safety Reigns Supreme, Food Service Industry Compelled to Place Sustainability on the Backburner
Increased Focus on Sustainable Products Drives Demand for Biodegradable Food Service Disposables
Compostable Foodservice Packaging Market Poised for Growth
Innovative Designs & Customizations and Eco-Friendly Materials: Focus Area for Disposables Manufacturers
Product Design and Features Play a Critical Role
Advent of UV-Cured Inks to Create Custom Prints/Designs
Double Walled Embossed Cups for Heat Resistance and Better Grip
Disposable Cups & Lids Head Towards Bright Future
Disposable Plastic Containers Continue to Record Strong Demand
Styrene in Foam Packaging Raises Health Issues
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Food Service Industry Hit Hard by COVID-19 Pandemic
Disposable Serveware Gains Traction Amidst COVID-19 Pandemic
Away from Home Consumption Trend Fosters Disposable Food Serveware
Robust Growth in Online Food Delivery Services Fuels Demand for Disposables
Quick Service Restaurants: Key Market for Disposable Serveware
Food Delivery Services Gain Traction Amidst COVID-19 Outbreak
COVID-19 Pandemic Dents Prospects in Food Service Industry, Affecting Demand for Disposables
With Food Service Industry Facing Tough Times due to COVID-19, Disposables Demand to Fall
Total Companies Profiled: 129
For more information about this report visit https://www.researchandmarkets.com/r/62mzd
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