Take Out Containers Market on the Rise: Set to Reach $29.1 Billion by 2030

Take Out Containers© karinsasaki from Getty Images / Canva

The global Take Out Containers Market is projected to reach a significant value of US$ 29.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030, according to a market report by RationalStat.

Market Drivers and Trends

This substantial growth in the market is primarily driven by shifting consumer preferences towards convenience and sustainability in food packaging. The rise of online food delivery platforms and applications has made it easier for customers to order food from a variety of restaurants, thereby increasing the demand for efficient packaging options that maintain food quality during transit.

Urban areas with high population densities frequently experience an increase in demand for takeaway and delivery services due to the fast-paced nature of city living. This trend is driving the evolution of the takeaway containers market, with a rising demand for environmentally friendly and sustainable packaging solutions.

Market Segmentation and Analysis

RationalStat’s market assessment reveals that by 2022, 85% of the takeaway container market will be dominated by plastic containers, which are best suited for enclosing and safeguarding products during shipping.

In terms of application, the fast-food sector is set to expand at a CAGR of 5% throughout the forecast period, driven by an increase in disposable income among consumers.

Key Players and Competitive Landscape

The global takeaway containers market is characterized by the presence of key players including Groupe Lacroix, Huhtamäki Oyj, Greenmunch, Faerch A/S, Genpak, Earthpak Canada, CiMa-Pak Corporation, Hubert Company LLC, Amcor plc, and Silgan Holdings, Inc.

  • Groupe Lacroix: Founded in 1946, Groupe Lacroix is a leading manufacturer of industrial packaging made of wood, cardboard, and plastic for the agri-food and non-food sectors. The company also designs and manufactures electronic equipment for various industries, including automotive, home automation, aerospace, industrial, and health sectors.
  • Huhtamäki Oyj: Huhtamäki Oyj is a global food packaging specialist headquartered in Espoo, Finland. The company’s key products include disposable tableware, cups, and containers for quick-service restaurants, fresh produce packaging, and other consumer goods packaging.
  • Greenmunch: Greenmunch is a company that specializes in sustainable and eco-friendly products. Their offerings range from compostable straws and cutlery to reusable shopping bags and water bottles.
  • Faerch A/S: Faerch A/S is a European leader in innovative and sustainable food packaging solutions. Their product range includes trays for ready meals, fresh meat, cold foods & snacks, and various food service packaging solutions.
  • Genpak: Genpak is a North American leader in quality disposable food packaging products, offering a wide range of single-use plates, bowls, containers, straws, and more.
  • EarthPak Canada: EarthPak Canada is a company specializing in eco-friendly packaging solutions. They offer a variety of sustainable products, including compostable bags, food containers, and other packaging materials.
  • CiMa-Pak Corporation: CiMa-Pak Corporation is a provider of packaging solutions, specializing in vacuum packaging machines, tray sealers, and wrapping systems for a variety of industries.
  • Hubert Company LLC: Hubert Company LLC offers a wide range of products for food service organizations including kitchen, dining, and catering supplies, servingware, signage, and merchandising displays.
  • Amcor plc: Amcor plc is a global leader in developing and producing high-quality, responsible packaging for a variety of food, beverage, pharmaceutical, medical-device, home and personal-care, and other products.
  • Silgan Holdings, Inc.: Silgan Holdings Inc. is a leading supplier of rigid packaging for consumer goods products. The company operates 100 manufacturing facilities in North and South America, Europe, and Asia.
READ:  A Green Revolution: The Impact of the Global Compostable Plastic Packaging Material Market on Pennsylvania's Plastics and Chemicals Industry

These companies employ various strategies, including mergers & acquisitions, partnerships, collaborations, and product launches to strengthen their market position. For instance, in August 2021, Vegware announced its acquisition by Novolex, a move that is expected to enhance the company’s line of eco-products and strengthen its position in Europe.

Future Outlook

The global take out containers market is poised for significant growth over the forecast period, driven by increasing consumer demand for convenience and sustainability in food packaging. With the continuous expansion of the restaurant industry and online food delivery platforms, the market is set to reach new heights in the coming years.

The industry players are expected to focus on sustainable and innovative packaging solutions to meet the evolving consumer needs and gain a competitive edge in the market.

For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News.