Rising inclination towards restaurant food and adoption of food delivery services will drive the take out container market.
NEW YORK, NY / ACCESSWIRE / April 27, 2021 / Fact.MR: As per a study by Fact MR, the global take out container market is forecast to grow at 3.5% CAGR over the period 2020-2030. According to the study, growing preference for processed food and demand for multi-layer packing solutions for ready-to-eat foods are the main factors contributing towards the market growth. Development and customization in the takeout containers according to the customer requirements will assist in expanding the market size.
COVID-19 pandemic restricted the sales due lockdown and strict regulations in the initial phase. However a quick recovery was observed in the industry. The emphasis on contactless food delivery and use of disposable takeout containers helped in the recovery of market demand. Escalating need for change in monotonous lifestyle and growing fondness for fast food will further enhance the market growth in post lockdown period.
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"Prioritizing the use of recyclable and eco-friendly take-out containers along with increasing prevalence of cloud kitchen and food service applications will provide ideal environment for market growth and increase sales," says a Fact.MR analyst.
Key Takeaways
- Growing reliance on food delivery services is forecast to create growth opportunities in East Asia. East Asia will occupy nearly 30% of takeout containers market share by the end of 2020.
- Over 4% CAGR can be expected from South Asia and Oceania during 2020-2030.
- Rapid increase in fast food joints and quick service restaurants are predicted to grow exponentially leading to fast takeout container market growth
- A moderate growth can be observed for clammed shell containers, while the perforated containers are forecast to grow 1.4X in valuation by the end of forecast period 2020-2030.
- Global demand for takeout containers is expected to reach a valuation of over US $6 Bn during the forecast period.
Prominent Drivers
- Rising innovation and implementation of dynamic shaped aluminum takeout container in food industry will amplify the market growth.
- Need of cost effective and stackable takeout container in ready-to-go food industries will accelerate the market demand.
- Escalating need of high barrier and multi-layer packaging solutions for storage in processed food industry and fast food joints will positively affect the thegrowth of the takeout container market.
Key Restraints
- Stringent regulatory policies regarding various materials will hampers takeout container market demand for short time.
- Shift of customer preferences towards safer food packaging will restrict the market growth.
- Need for sustainable food packaging solutions to counter fluctuating scenarios is one of the deterrents that restrict the market growth.
Discover more about the takeout container market with 70 figures and 112 data tables, along with the table of contents.
https://www.factmr.com/report/3951/take-out-container-market
Competitive Landscape
Leading players operating in take out container market profiled by Fact.MR include Bemis, Silgan, Graham Packaging, Ardagh, Caraustar Industries, Ball Corporation, and Berry Plastics. Fragmentation in takeout container market is due to high concentration of local and regional players. New emerging players are focusing on development of alternate materials like edible and reusable containers to consolidate their position in the market.
More Valuable Insights on takeout container market
Fact.MR, in its new report, offers an unbiased analysis of the global takeout container market, analyzing forecast statistics through 2020 and beyond. The study reveals growth projections on the take out container market on the basis of Product type (clamshell containers, carton, lidded containers, plates, bowls and cups), type (Perforated containers, Portioned containers), capacity (250 gms, 250-500 gms, greater than 500 gms), across regions (North America, Latin America, Europe, East Asia, South Asia and Oceania, MEA).
Key Questions Covered in the Report
- Which factor will be the most crucial for takeout container market?
- What is likely to be the future outlook of takeout container market?
- What are the key drivers and restraints for the takeout container market?
- Which region has the highest growth rate in takeout container market?
- Which are the leading players operating in the takeout container market?
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