Food Service Disposable Market Share Raise by Busy Schedule and Hectic Lifestyle of Consumers in Upcoming Years
The food service disposable market has been segmented by raw material into paper & paper boards, plastics, aluminum and straws & stirrers. Among these segments, the paper and paper boards segment is anticipated to grow at the fastest pace over the forecast period. Further, the plastic segment has been accounted with highest market share in terms of revenue in previous years and is expected to continue its dominance over the forecast period which is attributed to availability of polymers which are mostly used in production of food service disposables. This factor is anticipated to drive the food service disposable market with noteworthy revenue by the end of 2021.
The global market for food service disposable is estimated to reach notable valuation by the end of 2021 by expanding at a robust compound annual growth rate over the forecast period. Factors such as busy schedule and hectic lifestyle of consumers among others are some of the major reasons to drive the demand for Food Service Disposable. Further, having food while on the go for immediate consumption is estimated to benefit the expansion of food service disposable market over the forecast period.
Geographically, the North America dominated the overall market for food service disposable by reaching USD 21.4 Billion in 2015 and is further anticipated to reach 27.50 Billion by the end of 2021. Further Europe market of food service disposable was valued at USD 9.94 Billion and was ranked the second largest market in global food service disposable. Additionally, the Asia Pacific market of food service disposable is expected to expand at robust compound annual growth rate of 5.8% over the period 2015-2021.
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Rising Working Class Population to Drive the Market
The need for hygienic and easy food consumption in the busy lives of consumers is driving the food service disposable market. Further, factors such as rise in population and expansion of commercial markets are believed to supplement the growth of the food service disposable market globally.
However, negative environmental impacts related to non-recyclable waste of food service disposables are likely to inhibit the growth of the food service disposable market in the near future.
The report titled “Food Service Disposable Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the food service disposable market in terms of market segmentation by raw material, by products, end users and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the food service disposable market which includes company profiling of New Wincup Holdings Inc., Pactiv LLC, Anchor Packaging Inc., Dart Container Corporation, Gold Plast Spa, Georgia Pacific LLC, MDS Associates Inc., Biopac India Corporation Ltd., H.T. Berry Company Inc. and Sysco Corporation.The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the food service disposable market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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