asia pacific food service packaging Market

The Asia Pacific food service packaging market is accounted to US$ 20,922.5 Mn in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period 2019 - 2027, to account to US$ 32,969.7 Mn by 2027.

The food service packaging market serves the food service industry, consisting of offline as well as online food service stores that are serving a huge number of people in the Asia Pacific region. Consumers in this era are adopting packaged food items, including RTE and RTC food products, confectionaries, and many more. Most of these products are packaged in plastic packs or a combination of paper & plastic packets, which is further influencing the market for food service packaging. The food packaging industry is transforming at a constant rate, driven by changing packaging technology, disposal regulations, and market acceptability. To ensure the safety of individuals, food packaging plays an essential role, as a material used for packing diversified food items needs to be hygienic for the health of the consumers. With endless practices of developing packaging solutions, risks associated with food packaging design are low and is reducing due to practices such as ISO 22000 mandates, and audit schemes. The adoption of risk assessments on all the raw materials and packaging materials assist in ensuring safety in the food packaging design. The design of food packaging continues to transform with substantial scientific and technological progress, to extend the shelf life of the product and make it safer for the consumers as well.

The Asia Pacific food service packaging market is segmented based of material as plastic, metal, and, others. The plastic segment holds the largest share in the Asia Pacific food service packaging market. Plastic packaging is a flexible form of packaging, which allows food service providers to customize its shape, style, and size as per their customers? requirements. Plastic packaging is preferred in the foodservice industry as it is light-weight and does not require a lot of storage space. Furthermore, the plastic packaging products used in food packaging are easy to transport. Owing to its properties such as highly durable and resistant to external influences, it helps to preserve the packaged food products. The plastic packaging can survive in extreme environments, and it does not easily degrade in hot temperatures, and therefore, maintain the integrity and taste of the food & beverage. It also protects the products from moisture, oxygen, dust, light, and odors.

Asia Pacific food service packaging market is segmented based on packaging type as flexible and rigid. The rigid packaging type holds the largest share in the Asia Pacific food service packaging market. The rigid packaging consists of cans, bottles, jars, ampules, plastic pots, aerosol containers, tins, trays, cups, bowls and aluminum bottles which are used to pack and store different food and beverage items. These container gives physical protection to the food which is not offered by flexible packaging. These containers are robust in nature due to amount of material utilized for their production. The rigid containers provide airtight hermetic seal which helps in preserving the food item from contamination. However, they are expensive than flexible packaging. The rigid packaging includes, glass, metal, wooden containers, paperboard, pottery pots and jars, and plastic bottles, jars, tubes.

Asia Pacific food service packaging market is segmented based on application as beverages, fruits and vegetables, bakery and confectionery, dairy products, and others. The beverage segment holds the largest share in the Asia Pacific food service packaging market. The beverage sector is amongst the front-liners, where huge and significant investments are made for business expansion and technological modification. The packaging of both carbonated and non-carbonated beverages is a challenging technological branch in a food processing /packaging industry. The changing scenario of beverage industry driven by dynamic consumer preferences and endless innovations in packages has transformed the scope for packaging industry exponentially. Innovations in material-based systems on intelligent packaging for beverages is propelling the growth of beverage packing.

Asia Pacific food service packaging market is segmented based on country as -Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. China holds the largest share in the Asia Pacific food service packaging market, which is followed by India. According to a report of EU SME Centre for The Food & Beverage Market in China, China remains the world's largest consumer market for food and beverage products, surpassing the US in 2011. The opportunities for the exporters in this sector occurs for the products such as: wine, dairy, pasta, beer, chocolate and high-end confectionery, pre-packaged biscuits and snacks, breakfast cereal, pasta sauces, coffee and meats, as well as baby food/infant formula etc. Trust in food safety, honesty of ingredients, and high quality products are one of the main reasons Chinese consumers buy imported F&B products, thus making china as one of the important importers of the packed food.

Some of the players present in the Asia Pacific food service packaging market are Amcor plc, Ball Corporation, Berry Global, Inc., Dow Inc., DS Smith PLC, Huhtam?ki Oyj., Reynolds Group Holding, Sealed Air Corporation, and WestRock Company amongst the others.

The overall Asia Pacific food service packaging market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia Pacific food service packaging market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific food service packaging market.