Key Takeout Containers (ULT) market players are focusing on differentiating their portfolios and innovative offerings to meet growing demand during COVID-19 pandemic.
ROCKVILLE, MD / ACCESSWIRE / October 21, 2020 / The global takeout containers market will register a CAGR of 3.5% over the forecast period (2020-2030). While changing inclination of customers concerning sustainable food packaging is one of the prime deterrents for expansion in the global market, mandates related to take-out instead of dine-in have led to a surge in demand during the COVID-19 crisis. Market players are offering innovative substitutes and keeping up the buoyancy in the demand for takeout containers.
'Investments in discerned offerings of takeout containers with state-of-the-art materials will offer lucrative returns over the assessment period.' says a Fact.MR analyst.
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Takeout Containers Market - Key Takeaways
- The global takeout containers market will surpass US$ 6 Bn by 2030
- Perforated containers will be accounting for the majority of the market share throughout the forecast period.
- In terms of end-user, fast service restaurants and quick service restaurants are gaining high traction over the assessment period.
- East Asia remains a lucrative market due to higher consumer demand and preference for parcel and takeout food in China.
Takeout Containers Market - Drivers
- The processed food and ready to eat meals are foreseeing notable growth, ensuing in the growing demand for takeout containers.
- Higher demand from quick-service restaurants and food services is projected to reflect high expansion over the projected period.
- Surging expansion of cloud-style kitchens is anticipated to pave way for notable growth of the market.
Takeout Containers Market - Constraints
- Takeout containers are less environmental friendly than other options, this can hurt the market growth.
- Pricier in contrast to other packaging solutions is creating bottlenecks for widespread adoption
Anticipated Market Impact by COVID-19 Outbreak
The market sales witnessed a decline in sales on the onset of the COVID-19 pandemic in several nations, however, the market exhibited swift recovery with the beginning of the food services amid lockdown. Attempts at food delivery platforms to reflect the security of deliveries has proven to be highly beneficial for the market.
Explore the Takeout Containers market comprising of 112 figures and 70 data tables, along with the table of contents. You can find a detailed market segmentation on https://www.factmr.com/report/3951/take-out-container-market
Major companies in the takeout containers market include Faerch A/S, Groupe Lacroix, Huhtamäki Oyj, CiMa-Pak Corporation, Genpak, LLC, Greenmunch, Earthpak Canada, and Hubert Company LLC. The prominent companies are likely to hold around 30% of the overall revenue. While the market is anticipated to foresee some fluctuations in the short-run owing to surging regulations on materials, but rising players with substitute materials such as edible and reusable containers will help the market growth.
More on the Report
The Fact.MR's market research report provides in-depth insights into the takeout containers market. The market is scrutinized on the basis of product (clamshell containers, cartons, lidded containers, bowls, plates, cups, and others), end use (QSR and FSR, transportation catering services, institutional catering services, and retail sales), type (portioned containers and perforated containers), and capacity (up to 250 gms, 250-500 gms, and more than 500 gms), across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).
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