Prepared Meals Segment to Dominate SAM Food Service Packaging Market During 2021–2028    

According to a new market research study on “SAM Food Service Packaging Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material, Packaging Type, and Application” is expected to reach US$ 4,688.84 million by 2028 from US$ 3,343.30 million in 2021. The market is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report provides trends prevailing in the SAM food service packaging market along with the drivers and restraints pertaining to the market growth.  The advent of smart and intelligent packaging materials in food industry and significant market attractiveness for recycling, reusable, and eco-friendly materials are the major factor driving the growth of the SAM food service packaging market. However, complicated nature of supply chain business hinders the growth of SAM food service packaging market.     

The SAM food service packaging market is segmented based on material, packaging type, application, and country. Based on material, the SAM food service packaging market is segmented into plastic, metal, and others. The others segment dominated the market in 2020 and plastic segment is expected to be fastest growing during forecast period. Based on packaging type, the SAM food service packaging market is segmented into flexible and rigid.  The flexible segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on application, the SAM food service packaging market is segmented into beverages, prepared meals, fruits and vegetables, bakery and confectionery, dairy products, and others. The prepared meals segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the SAM food service packaging market is segmented into Brazil, Argentina, and rest of SAM.       

Amcor PLC, Ball Corporation, BeGreen Packaging, Berry Global Inc., Graphic Packaging Holding Company, Huhtamaki, Sealed Air, Stora Enso, and WestRock Company are among the leading companies in the SAM food service packaging market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Amcor announced the successful completion of its acquisition of Bemis Company Inc. The acquisition of Bemis adds scale, capabilities, and footprint to Amcor. This will strengthen Amcor’s industry leading value proposition and generate significant value for shareholders.    

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