Analysis of Takeout Containers market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The takeout containers market has seen a historical CAGR of over 2% from 2015 to 2019, owing to the moderate growth in the demand for takeout containers across North America and East Asia. The market is projected to expand at a CAGR of over 3.5% over the forecast period of 2020 to 2030.
While changing preferences of consumers regarding food packaging and sustainability have been one of the key deterrents for growth, efforts of players in the market for offering new alternatives have been maintaining buoyancy in the demand of takeout containers.
While the market has shown stagnancy during recent years, innovations by manufacturers to meet consumer preferences and growing ready-to-eat industry are expected to lead to expansion of the takeout containers market size.
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The ready-to-eat meals and processed food market has witnessed significant growth, resulting in increased demand for high barrier packaging solutions such as takeout containers. The dynamic shapes of aluminum containers as effective means of stacking and cost effectiveness has been one of the integral reasons for high preference by the food service industry. Demand from food services and quick service restaurants is expected to show high growth during the forecast period.
East Asia accounts for a high takeout containers market share in terms of demand, owing to higher preference and consumer demand for takeout and parcel food in China. The markets in East Asia and North America are expected to show moderate growth during the forecast period, while emerging economies such as South Asia and ASEAN countries are expected to present high growth potential during the forecast period.
The takeout containers market is fragmented in nature, with top players accounting for nearly 30% of global revenue. High fragmentation and high concentration of regional players is one of the key characteristics of the takeout containers market. The market is expected to experience some fluctuations during the short-term forecast due to increasing regulations on materials for takeout containers, but emerging players with alternative materials such as reusable and edible containers are expected to help the growth of the market.
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The COVID-19 crisis has had a positive impact on the demand for takeout containers. While dampening of sales during initial lockdowns in multiple countries was observed, the market has shown rapid recovery after the initial shock. Restarting of food services during lockdowns has been beneficial for this recovery of demand for takeout containers.
Efforts of food delivery platforms for showcasing the safety of deliveries have proved highly beneficial for the takeout containers market. High preference of consumers for ready-to-eat food and need for change in daily routine are expected to further shape the growth of the takeout containers market during the recovery period of COVID-19.
“Investments in branding and labeling takeout containers as sustainable and recyclable products are expected to present lucrative opportunities and significantly increase sales.”
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The takeout containers market report by Fact.MR offers forecast representation from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities, and threats influencing the expansion of the takeout containers market. A detailed segmental analysis based on product, type, capacity, end use, and region has been provided in the report. The report also covers a chapter on the COVID-19 impact analysis to arm stakeholders with necessary information.
Regional analysis in terms of supply chain analysis, business execution, and market value analysis provides an in-depth perspective about the future scope of the takeout containers market. In addition, a section providing detailed analysis of key market players and strategies has been added.
Fact.MR has studied the takeout container market with detailed segmentation on the basis of product, type, capacity, end-use, and region.
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Takeout Containers Market Is Anticipated To Grow At CAGR Of 3.5% During The Forecast Period By 2030
North America, Western Europe, Asia-Pacific , Japan are the dominant countries in the global Takeout Containers Market
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