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FOODSERVICE DISPOSABLES MARKET ANALYSIS

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FOODSERVICE DISPOSABLES MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker     Foodservice Disposables Market 2017–2027  Foodservice disposable is used in the packaging of food and beverage           products. Foodservice disposable products offer greater ease of packaging       food and customer convenience with hygiene and cleanliness. Theses product           can be classified into plates, clamshells, trays & containers, cups & bowls, and           cutleries. They are manufactured from raw materials such as paper and         paperboard, plastics, and aluminum. Restaurants, retail and vending machines,         institutions, and lodging and hospitality are some of the major end-user of         foodservice disposable. Foodservice disposable offers convenience and       reduces the delivery of time and is gaining huge popularity among hectic               lifestyle people.                                                                                                              The global ​foodservice disposables market is projected to surpass US$ 36.0         billion by the end of 2027, in terms of revenue, growing at CAGR of 5.2% during                                              

  2. the forecast period (2019 to 2027).  Drivers  The rising number of online food delivery services around the globe is primarily             fueling the market growth of foodservice disposable. Growing Consumer           preference for takeaway or ready to eat food due to changing lifestyles,             increasing disposable income, and ongoing urbanization, especially across         developing economies is propelling the market growth of foodservice         disposable. Additionally, rising out of home food habits is also augmenting           demand for foodservice disposables, thereby fueling the market growth.                                                                  The rising number of on-the-go consumers due to the advantage offered by           foodservice disposable such as low costs and food hygiene, easy storage and           grab-and-go is expected to propel the market growth of foodservice disposable.             Moreover, with the rising number of the working population and ongoing             urbanization, online food service is projected to gain popularity among           millennial consumers. This, in turn, is expected to fuel the market growth of             foodservice disposables in the years to come.                                                                           Geographically, Asia-Pacific dominated the global ​foodservice disposables     market in 2018, reporting 44% market share in terms of revenue, followed by             North America and Europe, respectively.                                       

  3.   Figure 1. Global Foodservice Disposables Market, Revenue Share (%), By  Region, 2018    Market Restraints  The penetration of sustainable packaging solutions is expected to impact         market growth negatively. Rising environmental awareness and increasing         government regulations regarding recyclable foodservice disposable solutions,       as it reduces carbon footprint and ensures proper coding for traceability are             projected to hinder the market growth to a certain extent. The aforementioned             factors are anticipated to restrain market growth over the forecast period.                                                      Intense competition in the market due to the presence of a large number of           players is leading to shrinking of profit margins. This factor is hindering the             market growth of foodservice disposable. Moreover, volatility in raw material         prices results in constant pressure on the profitability margins of foodservice             disposable manufacturers is also anticipated to restrict the market growth of         foodservice disposable.                                                                      Market Opportunities  The growing focus of manufacturers to introduce new sustainable innovative           products in foodservice solution is propelling the market growth of foodservice                                

  4. disposable. For instance, in October 2019, Novolex, manufacture of diverse           packaging and foodservice products, has launched various new products that         reduce waste in the foodservice industry. Cutlerease is a new single-piece           cutlery utensil dispensing system. Increasing launch of such novel and         sustainable packaging solutions will propel the market growth of foodservice         disposable.                                                            The booming food and beverage industry, especially in the Asia Pacific region,           is projected to augment the market growth of foodservice disposable.           According to the India Brand Equity Foundation, the Indian food, and grocery,             the market is the world’s sixth-largest, with retail contributing 70 percent of the             sales. The Indian food processing industry accounts for 32 percent of the           country’s total food market. Therefore, the booming food and beverage industry           is expected to foster the market growth of foodservice disposable.                                                                               Figure 2. Global Foodservice Disposables Market – Opportunity Analysis    Market Trends  The growing focus of major players to enhance their distribution channel by             forming a partnership is expected to foster the market growth of foodservice             disposable. For instance, in November 2018, Nov 28, 2018-Sole Source Capital           today announced that it has partnered with Individual Foodservice (“IFS”) and             will combine the business with Trade Supplies, LLC to create one of the largest             non-perishable foodservice distributor and packaging solution providers in       California.                                                                         

  5. An increasing number of acquisitions and mergers among key players is         anticipated to accelerate the market growth of foodservice disposable. For           instance, in June 2019, Audax Private Equity has completed the sale of Imperial             Dade Intermediate Holdings, LLC to Bain Capital Private Equity, LP. Imperial           Dade’s management and Audax will continue to be significant investors in the           Company. Imperial Dade is a leading provider of foodservice disposables and             janitorial supplies & equipment.                                                                            Figure 3. Global Foodservice Disposables Market, Revenue Share (%), By  Application, in 2018    On the basis of end user, in 2018, restaurants accounted the largest market                 share of 34% in terms of revenue, followed by retail & vending machines and               lodging & hospitality, respectively.                          Competitive Section  Key players active in the global foodservice disposables are Dart Container             Corporation, Georgia-Pacific LLC, Anchor Packaging Inc., D&W Fine Pack LLC,       Gold Plast SpA, Berry Plastics Group, Inc., DOpla S.p.A., Huhtamäki Oyj, New             WinCup Holdings, Inc., andPactiv LLC                                         

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