Market Trends of Single-use Packaging Industry
Growing Demand for Food and beverage segment
- The rise of online food delivery platforms and mobile applications has stimulated the growth of disposable packaging products, particularly containers. In the food and beverage sector, e-commerce transactions for standalone restaurants accepting orders online or through food aggregator applications have witnessed remarkable growth in the last few years.
- Moreover, the Fast-paced life in developed countries has made single-use foodservice packaging in quick-service restaurants necessary. More individuals rely on fast food as they have less time to prepare meals at home. Single-use packaging enables restaurants to package food sensibly, securely, and economically while providing customers with a quick and easy way to transfer meals.
- Every QSR utilizes a variety of single-use food packaging daily, including disposable paper cups, paper straws, burger boxes, and fry containers. It also uses them to protect menu items and keep them clean, at the right temperature, and imprinted with the brand's colors and logo. The quick restaurant market is multiplying daily because of the inhabitants' considerable spending power. In countries like India, Canada, Germany, and France, eating in restaurants is now widely recognized as the place to celebrate special occasions and have fun with the family. In this context, Starbucks, a famous coffee chain, has increased its stores worldwide due to demand for outside snacking and coffee. The company has 35,711 stores worldwide, which has risen from 33,833 stores the previous year.
- Bags are also widely used in the food and beverage industry. Eating on the go is rapidly becoming a norm, and packaging plays a crucial role in ensuring that the food served is consumed conveniently. Home delivery and takeaway food are the trends that witnessed rapid growth. Thus, plastic bags are a vital element used by restaurants, cafes, and food service chains to deliver food and convenience to customers.
- In addition, the growth of single-use paperboard packaging in the food sector is attributed to the superior operational characteristics of paperboard packaging, which is safe for food contact and can be used over a wide range of temperatures, maintaining organoleptic properties for a more extended period. Corrugated boxes and cartons are extensively utilized for delivering food products, such as pizzas, cereals, and snack crackers, in mint condition. They offer a clean new box each time, which can be used to pack foodstuffs and exceedingly fresh produce that needs cushioning, strength, ventilation, moisture resistance, and protection.
- Moreover, as people become more tech-savvy and value convenience and service speed, multiple online food ordering portals have emerged, significantly increasing restaurants and food service outlets' reach. An inclination toward home-grown brands and a growing cafe culture also play a role in shaping the restaurant market in the country. Such instances are expected to augment single-use packaging such as plastic containers, cups, corrugated boxes, etc.
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Asia-Pacific Expected to Hold a Significant Market Share
- The region is one of the major investors and adopters of the single-use packaging market, owing to many end-user industry organizations. The growing trend of packed meals, the increasing number of restaurants and supermarkets, and increasing bottled water and beverage consumption are significant driving factors of the regional market growth.
- The need for single-use packaging is developing in India due to the country's expanding economy, growing middle class, changing lifestyles, and increasing population. The India Brand Equity Foundation predicts that by 2026, the country's e-commerce market will reach USD 200 billion. The boom in internet and smartphone use is also driving the majority of the packaging demand in the region.
- With increased demand and new companies in the food and beverage space, India has seen a rise in the paper and paperboard packaging of food and beverages. The entry and meteoric rise of food delivery service companies such as Zomato and Swiggy have increased the consumption of food and beverage packaging.
- Furthermore, in China, the growing trend of packed meals, the increasing number of restaurants and supermarkets, and increasing bottled water and beverage consumption are significant driving factors of the country's market growth.
- The increasing technological advancements and end-user industry packaging applications are the significant factors driving the growth in the Chinese market. The population is growing, and packaging per person is increasing. It is due to consumer behavior trends, such as the growth in the use of convenience products and the increasing use of single-use packaging products as substitutes for other packaging materials.
- Single-use glass packaging has been growing due to the increasing usage of generic injectable drugs in the healthcare industry. Pharmaceutical glass packaging is available in various drug types, such as injectable and non-injectable. The significant property of pharmaceutical glass packaging has high chemical durable properties, which maximizes the reliability of the products.
- The demand for single-use glass packaging in India is expected to multiply as India is a prominent and expanding player in the global medicines market. According to data published on the India Brand Equity Foundation website, India is the world's largest provider of generic pharmaceuticals, accounting for 20% of the worldwide supply and meeting over 60% of global vaccine demand. The Indian pharmaceutical industry is .valued at USD 42 billion globally.
- Furthermore, Japan is one of the fastest-growing pharmaceutical industries, constantly focusing on continuous innovation in different types of packaging. The Government of Japan also contributes to this growth through deregulations for international companies to invest, thereby driving the country's packaging market.
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