The food & food safety industry is subjected to numerous developments in terms of safety and packaging technologies. The constant growth in population, the surge in disposable income, and an increase in the working population are creating a need for more packaged and ready-to-cook food. The companies present in the food service packaging sector continuously focus on new trends and enhancements in food packaging, which greatly improve food quality and safety. Innovations such as advances in design and packaging materials are expected to support the food processing industry. Also, the emergence of smart and intelligent packaging techniques is expected to support the growth of the food processing industry. The intelligent packaging system consists of sensors, RFID tags, smart indicators (freshness, oxygen, carbon dioxide, leakage, color, and pathogen), pigments & ink, and barcodes/QR codes. Smart packaging is evolving, which is expected to boost exponentially with technologies, including printed electronics and IoT, which help in communicating with the end users. Further, the advent of nanotechnology and biosensors in the food industry is currently having several impacts on cultivation, food processing, production, packaging, transportation, and bioavailability of nutrients in food. In the food industry, nanotechnology and biosensors are utilized to increase flavor, extend product shelf-life, improve product safety, and inhibit bacterial & chemical growth. Several companies are also involved in the development of nanomaterials and biosensors, which will have an impact on the taste of food, health benefits, and safety of food. Thus, the development of smart and intelligent packaging materials for food packaging is expected to benefit industry players operating in the food service packaging market.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South America food service packaging market. The South America food service packaging market is expected to grow at a good CAGR during the forecast period.
South America Food Service Packaging Market Segmentation
The South America food service packaging market is segmented based on material, packaging type, application, and country. Based on material, the market is segmented into plastic, metal, and others. The others segment dominated the market in 2020, and the plastic segment is expected to be the fastest-growing segment during the forecast period. Based on packaging type, the market is segmented into flexible and rigid. The flexible segment dominated the market in 2020, and the same segment is expected to grow faster during the forecast period. Based on application, the 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 the same segment is expected to be the fastest-growing segment during the forecast period. Based on country, the South America food service packaging market is segmented into Brazil, Argentina, and the Rest of South America.
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 South America food service packaging market.