The global fast food containers market was worth US$ 47.91 billion in 2022 and is projected to be worth US$ 50.45 billion in 2023. Fast food container sales are expected to climb at a 5.3% CAGR, attaining US$ 84.56 billion by 2033.
Convenience Factor Accelerates Market Expansion for Fast Food Container
The convenience of carrying, packing, and consumption has driven demand, which has become increasingly significant to consumers. Manufacturers in the market must adapt to their customers’ changing lifestyles. The global market is expected to increase due to the evolving lifestyles and hectic schedules among working people. Consumption of processed and packaged goods is expanding, adding to the demand.
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Plastic containers are expected to develop at the most rapid pace of all materials due to their advantages over conventional materials. Since they offer many benefits, including aesthetic appeal, freshness preservation, convenience, product uniqueness, and branding potential, bags, and pouches are well-liked. These traits help explain why the demand for plastic food containers is growing so quickly. This aspect boosts market CAGR.
The food service industry is notorious for its instability, as consumer tastes and preferences always change. The demand for quick and packaged foods has increased significantly in recent years. This trend is driven by the need for quick meals that save time in the kitchen.
Fast food containers are critical in providing secure packaging that is easy to handle and supports primary consumption. Food containers help to keep food fresh and nutritious for longer periods. The rising desire for simple and disposable packaging is a key driver of fast food container sales.
E-Commerce Surge Fuels Demand: Fast Food Containers in the Digital Age
Another important aspect driving the growth of the fast food container market is the preservation of food quality. These containers keep food fresh and maintain quality, providing consumers with a dependable storage solution. The advent of the e-commerce sector has significantly impacted the fast-food container industry.
The increase in online food sales, facilitated by e-commerce, stimulates demand for food storage containers, generating considerable prospects for fast food container market growth.
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Regional Outlook
According to FMI, India’s fast food containers market is set to expand due to the paper industry’s expansion, eco-friendly packaging demand, and rising fast food consumption. Lower-cost materials like paper and paperboard contribute to India’s thriving food packaging sector.
The United States fast food container industry thrives, fueled by packed food preference, longer shelf life, and rigid packaging trends. Leading chains like Burger King and Starbucks boost United States fast food container sales. Increasing fast food packaging and consumer trends compel market expansion for fast food containers in both countries.
Key Takeaways
- Based on material, the paper & paperboard sector might keep capturing the fast food containers market, accounting for 65% of the market by 2033.
- Hotels, restaurants, and cafes may continue to be the most profitable end-user market, with a US$ 24.9 billion incremental opportunity for expansion between 2023 and 2033.
- The Indian market is predicted to boom at a 7.0% CAGR between 2023 and 2033, targeting a valuation of US$ 5.46 billion by 2033.
- The fast food containers market in the United States is expected to increase at a 5% CAGR between 2023 and 2033, producing an incremental opportunity of US$ 6.41 billion by 2033.
Competitive Landscape
The top fast food container manufacturers are making significant investments in research and development to diversify their product offerings, which may encourage market expansion. Fast food container manufacturers engage in various strategic actions to increase their worldwide reach.
Important market trends include introducing new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other companies. The fast food containers industry must provide affordable products to grow and thrive in a more competitive and challenging market environment.
Recent Developments
- In May 2022, Crown Holdings, Inc. announced plans to boost metal recycling rates in key markets, targeting 70% in the United States and 80% in Europe and the Middle East. Collaborating with Every Can Count, their sustainability efforts aim to benefit the fast food container market’s growth and environmental viability.
- In January 2022, Smurfit Kappa introduced an innovative, eco-friendly fast food box that safeguards food freshness and aroma, offering a sustainable substitute to single-use plastics, potentially revolutionizing the takeaway food packaging industry.
Key Segments
By Material:
- Paper & Paperboard
- Glass
- Plastic
- Metal
By Product Type:
- Boxes
- Jars
- Clamshells
- Bottles
- Cans
- Cups & Tubs
- Trays
By End Users:
- Hotels, Restaurants & Cafes
- Retail Food Chains
- Cinemas
- Institutional
- Canteens
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- The Middle East & Africa
- Oceania
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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