Global Foodservice Packaging Industry Growth and Trends Forecast to 2032

Definition

Foodservice packaging primarily includes single-use products such as cups (beverage and portion), plates, platters, bowls, trays, beverage carriers, bags (single portion and carry-out), containers, lids and domes, wraps, straws, cutlery and utensils for the service and/or packaging of prepared foods and beverages in foodservice establishments. Today’s foodservice packaging choices include the more traditional Styrofoam and plastic options but also an array of new environmentally friendly choices including those made of paper, bagasse, cornstarch, and molded fiber. Foodservice packaging is largely, but not exclusively, made from recyclable paper, card and plastic. The most commonly used plastics in foodservice packaging are polyethylene terephthalate (PET), recycled polyethylene terephthalate (RPET), polypropylene (PP), polystyrene (PS), expanded polystyrene (EPS) and high density [polyethylene (HDPE). If 2023 was marked by a noticeable slowdown due to uncertainty, 2024 has been about the need for speed. The pressures weighing on the foodservice packaging industry have influenced this year's trends. Sustainability and the principles of sustainability in packaging have progressed from being a trend to a part of everyday business. The new trend appears to be the growing sense of urgency around packaging sustainability and the justification or rationalization of choices made in this space. Striving for sustainable packaging has gone beyond a "nice to have" to a required, if not now regulated, part of doing business. New legislation is creating added pressure across the industry and accelerating changes that demand careful planning and realistic timelines. Considering the drive toward new and innovative materials and products, the pressure isn't all bad. These innovations help sustainability goals look new and fresh, all with performance attributes that help keep items at temperature and last longer. Notable changes include new coatings for fiber items that allow for reheating in the container and shifting away from color additives in favor of "natural" colored resin to help with end-of-life recyclability. The use of post-consumer recycled content also continues to grow in part due to customer commitments and the need to meet regulatory requirements. While this is a complex issue, especially regarding food contact packaging, we don't expect this trend to slow down any time soon. Packaging materials are also receiving attention based on legislative and regulatory changes. As extended producer responsibility laws are implemented in several U.S. states, both foodservice operators and packaging manufacturers are left dealing with confusing and often conflicting approaches and targets. It may not be widespread, but we are seeing a greater focus on reusable items for dining at restaurants, event venues and school foodservice operations that may be tied to regulatory pressures and customer demand. Adding to the pressure is the sliding scale of potential consequences around packaging decisions. Do companies switch portfolios from paper to plastics, plastics to paper, look at composability, recyclability or all of the above? Which attributes become the most important when selecting packaging that has to perform at an acceptable price point in a down market? This year, a new standout for the industry was the number of mentions related to increased imports. From finished goods across multiple substrates to a rise in imported machinery, much of the U.S. and Canadian marketplace is thinking about this. A rise in imports has placed increased pressure on the industry to compete with both imported products and equipment. We also heard anecdotes about the rise in imported machinery leading to lower costs and shorter lead times for domestic equipment. It's also important to mention the continued trend in mergers, acquisitions and consolidation that has led to tighter competition in the industry. According to APO Research, the global Foodservice Packaging market was valued at US$ 62.21 billion in 2023 and is anticipated to reach US$ 93.49 billion by 2030, witnessing a CAGR of 7.36% from 2024 to 2030. North American market for Foodservice Packaging is estimated to increase from $ 25.77 billion in 2024 to $ 41.48 billion by 2030, at a CAGR of 8.25 % from 2024 through 2030. Asia-Pacific market for Foodservice Packaging is estimated to increase from $ 14.95 billion in 2024 to $ 22.47 million by 2030, at a CAGR of 7.03 % from 2024 through 2030. The global market for Foodservice Packaging in Take Away/Delivery is estimated to increase from $ 23.53 billion in 2024 to $ 36.35 billion by 2030, at a CAGR of 7.52% from 2024 through 2030. The major global companies of Foodservice Packaging include Graphic Packaging, Genpak, Sabert, Dart Container, Georgia-Pacific, Anchor Packaging, Pactiv Evergreen, D&W Fine Pack, and Berry Global. In 2023, the world's top three vendors accounted for approximately 16% of the revenue.