Report : Middle East and Africa Food Service Packaging Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material (Plastic, Metal, and Others), Packaging Type (Flexible and Rigid), and Application (Beverages, Prepared Meals, Fruits and Vegetables, Bakery and Confectionery, Dairy Products, and Others)
Flexible Segment to Dominate MEA Food Service Packaging Market During 2021–2028
According to a new market research study on “MEA 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$ 6,520.63 million by 2028 from US$ 4,856.72 million in 2021. The market is estimated to grow at a CAGR of 4.3% from 2021 to 2028. The report provides trends prevailing in the MEA food service packaging market along with the drivers and restraints pertaining to the market growth. Significant market attractiveness for recycling, reusable, and eco-friendly materials, and advent of smart and intelligent packaging materials in food industry are the major factor driving the growth of the MEA food service packaging market. However, complicated nature of supply chain business hinders the growth of MEA food service packaging market.
The MEA food service packaging market is segmented based on material, packaging type, application, and country. Based on material, the MEA 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 MEA 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 MEA 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 dairy products segment is expected to be fastest growing during forecast period. Based on country, the MEA food service packaging market is segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.
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 MEA 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 2021, Graphic Packaging Holding Company announced the successful close of its acquisition of AR Packaging Group AB. AR Packaging is one of the Europe’s leading companies in the packaging sector. The acquisition accelerates Graphic Packaging Holding Company’s growing position serving consumer packaged goods companies around the world with sustainable fiber-based packaging alternatives.
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