Asia Pacific Foodservice Paper Packaging Market Size

APAC Foodservice Paper Packaging Market Analysis

The Asia-Pacific Foodservice Paper Packaging Market is expected to register a CAGR of 5.08% during the forecast period. The food service industry has grown to become a significant part of consumer spending. As this trend increases, the packaging sector is expected to play a crucial role in ensuring consumer food safety and convenience. For instance, proper packaging and labelling allow food preparers to know the food source, its right holding temperature, and the necessary cooking. One of the most used products in food service packaging is paper cups, which have gained wide acceptance due to their significant properties, such as ease of use, hygiene, and safety. They also meet the needs of modern life cost-effectively.

• Various factors, such as changing lifestyles, increasing disposable income, and rapid urbanization in developing countries, especially the growing middle-income population, are increasing the demand for food service paper packaging. Population density has increased demand for packaged food, with Millenials contributing to the growth.
• China has the largest share in the Asia-Pacific foodservice paper packaging market. This country's large population and urbanization have increased demand for the foodservice sector. Chinese consumers are now looking for easy-to-use and quality food products.
• Online food delivery partners played a significant role in driving the demand for the foodservice packaging market as direct contact with customers was restricted to contain the spread of COVID-19.
• The growing innovations in paper packaging in the foodservice market significantly contribute to the market's growth rate. For instance, in January 2022, Hansol Paper launched Hansol EB (Eco Barrier), a brand of environmentally friendly paper packaging. This brand of environmentally friendly paper packaging was created to take the place of flexible packaging like plastic film and aluminum foil. Utilizing advanced coating technology exclusive to Hansol Paper, Hansol EB is produced by producing a barrier coat on a base paper that has been particularly developed. Due to its capacity to maintain the integrity of the contents as a result of its high barrier qualities, it is preferable to current paper packaging materials.
• However, the high recycling cost for the materials used for sustainable foodservice packaging might hinder the market's growth. Moreover, the Russia-Ukraine war has an impact on the overall packaging ecosystem.