The rise of cloud style kitchens and increasing preference of consumers for restaurant food re expected to pave the way for the steady growth of the takeout containers market. With high adoption of food service applications and multiple regional services for food delivery, the takeout containers market is expected to show significant growth during the forecast period.
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As per Fact.MR’s report, the takeout containers market is anticipated to reach a valuation of over US$ 6 billion by 2030, with the growth rate pegged at 3.5% during 2020 to 2030.
Key Takeaways from Takeout Containers Market Study
- East Asia will account for a share of nearly 30% in the takeout containers market in 2020. High preference for food delivery and dependence of consumers on external food services are expected to create lucrative opportunities.
- South Asia and Oceania are expected to portray the highest growth rate of over 4% during the forecast period.
- Based on end use, quick service restaurants and fast service restaurants are expected to experience highest growth during the forecast period.
- In terms of product, clammed shell containers are expected to see moderate growth during the forecast period.
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- In terms of type, perforated containers account a high share in the takeout containers market, and are expected to grow 1.4X by 2030 in value in 2020.
- The COVID-19 crisis has been slightly detrimental in the early stages for the takeout containers market, but is expected to have a positive effect during 2020 and onwards.
- Global demand for takeout containers is expected to increase over 1.3X during the forecast period.
“Investments in differentiated offerings of takeout containers with innovative materials are expected to present lucrative returns during the forecast period,” says a Fact.MR analyst.
Innovations and Differentiated Offerings Leading Market Growth
The takeout containers market has seen multiple changes in recent years, and is expected to experience significant growth during the forecast period. Companies in the market have been focusing on innovative offerings and differentiating their portfolios.
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With a tightening regulatory scenario regarding multiple materials in the market, companies have been opting for alternatives and disposable materials. New innovative offerings are expected to present multiple opportunities for new entrants as well as emerging players in the takeout containers market.
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