Rockville, MD -- (SBWIRE) -- 06/06/2019 -- The use of food packaging has been associated with the socioeconomic indicator of gross domestic product and increased spending ability. Industrial processing of food, importation raw materials and ingredients to be converted and shortage of time to prepare or select food from fresh ingredients have propelled innovation in food and beverage packaging. The relentless search for innovation in food and beverage packaging is mostly fueled by consumer needs and demands being affected by volatile global trends, namely regionally abundant and diverse food supply and increased life expectancy. As such, manufacturers are introducing innovative options which run the gamut from design that aids in the food preparation process to eco-friendly packaging.

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The principle function of food service packaging has been protection and preservation from external hostile contamination, involving extension of shelf life, retardation of deterioration and maintenance of quality and safety of packaged foods. Additionally, sell-by dates, nutrition and ingredients have become essential not only to consumer, but to stores, too. Manufacturers are embracing bar codes to track sales and inventory. Further, companies are vying contract packaging service to succor them in obtaining the supremely best quality available.

In spite of the existence of mature food service packaging market in North America, the industry demand is undeterred and is witnessing a robust expansion owing to trend for convenient and ready-to-go food. Further, fad for home delivery service across regions have undergirded food service packaging market.

Significant research has been done in the area of biodegradable and corrugated food packaging. The former acts as an efficacious moisture barriers by propelling the tortuosity. While the latter shields the food products from spilling and at the same time retains the freshness for longer duration.

Thermoforming attributions of polyethylene terephthalate—PETE, PET or polyester—have further accentuated food service packaging market as revenue from PET is slated to hold lion's share during the assessment period (2017-2026) with respect to value.

Food Service Packaging Market: Overview

Qualitative and quantitative analysis propel the report on the food service packaging market. The report exhaustively delineates the aspects in the market that are known to have the influence on the development of the food service packaging market, including drivers, restraints, trends, and opportunities. Further, the report also focuses on segmentation of the market that aims at providing an exhaustive analysis on food service packaging.

On the other hand, the report delves into benchmarking to analyze the performance of the products and business processes and shed light on the performances of competitor companies both inside and outside the industry in quest for superior performance.

The report on food service packaging counts on primary research and secondary research, which provides intelligence and deep dive insights on the market. Additionally, the report bank on unbiased and reliable sources that becomes instrumental in preparing the report. Further, the report also depends upon primary sources that is underpinned by honest and veracious assessment from reliable experts, telephonic interview and exhaustive analysis from seasoned analyst, and surveys. Besides, the secondary sources also include EC filing, Factiva, press release, trade journals, governmental websites and resourceful database.

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The coherent analysis of the competitive landscape of the food service packaging market banks on Porters' Five Force Analysis. Besides, the Porters' Five Force Analysis provides thorough assessment on the likely strategies of the major players in the food service packaging market. Nevertheless, the business strategies relies upon company profile, recent development, product portfolio, SWOT analysis, and key differentiation.

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