Latest Fabri-Kal News
Oct 4, 2021
Industry Update Pactiv Evergreen Inc.’s subsidiary has agreed to acquire Fabri-Kal in order to expand its reach in the food service packaging market. Browse In-depth Market Research Report (185 pages) on Food Service Packaging Investments in R&D and Innovation to Influence Market Demand Huge demand for innovative packaging to appeal to customer tastes can drive demand of food service packaging. This is true due to huge demand for processed and ready-to-eat meals as well as huge disposable income levels of customers. Manufacturers are investing in R&D to churn out new designs to increase footfall at malls. Investments in data analytics to gauge customer behavior and lower product costs as well as improve safety of products can guarantee huge market demand. Foods with Nutritional Value to be a Lucrative Revenue Avenue Athletes and sportspersons are adapting flexible patches for measurement of health metrics. The fear of COVID-19 virus and pressure to compete in major events on athletes has led to its development. Epicore Biosystems and Gatorade had developed a sweat-sensing microfluidic patch through their partnership. It can sense fatigue levels in patients and predict cases in which COVID-19 could be fatal. The objective of their partnership to integrate the patches in N95 masks to monitor cytokine levels of healthcare staff can bode well for the market. Integration of 3D in Healthcare Sector to be Profitable for Global Market The popularity of additive printing in the healthcare sector for rapid production of prototypes and final components of latest electronics can drive the demand for flexible electronics. Integration of 3D printed pressure sensors for providing options for various inputs of users can bode well for the market. Biochemical devices can be used in measuring levels of chemicals by attaching it to the skin. Recently, a 3D printed flexible electrical glove was used in providing thermotherapy to patients and treat injury points by reducing pain levels. Huge Investment Costs to Hamper Market Growth The high investment costs of food service packaging can deter significant buyers. Automotive manufacturers looking to lower costs can baulk at prospects. Development of new technologies that require skilled personnel and precise machinery for manufacture of flexible materials can be a challenge for the market. Share your Queries https://www.marketresearchfuture.com/enquiry/3278 COVID-19 Impact Analysis The food service packaging market was affected by the COVID-19 pandemic owing to concerns over consumption of meat. Shortage of aluminum owing to closure of recycling units as well as shutdown of sports avenues and arenas can affect market growth. But the shift to online grocery shopping due to its convenience and contactless delivery can provide respite to the global market. Huge demand of folding cartons is evident of the huge potential of the market. Segmentation Analysis Bags to Garner Significant Market Revenue The bags are expected to garner significant market revenue over the forecast period. This is attributed to demand for sustainable products and recyclable properties of polyethylene terephthalate (PET). Concerns over plastic waste can lead to inclination towards bags. Dairy Products to be Biggest Application Dairy products are set to be the biggest application for food packaging owing to rising innovation and investments in R&D. High consumption of dairy products for protein levels, concerns over sustainability, change in shopping habits, and creative designs for packaging can drive application growth. Regional Analysis North America to Dominate Global Market The North America food service packaging market is expected to thrive owing to consumption of processed and semi-processed foods. Sedentary lifestyles and rapid urbanization can drive demand for food service packaging. Prevention of contamination of foods and preservation of foods can bode well for the market. Proliferation of organic and recyclable materials as well as penchant of customers for single-use products may bode well for the market. Segmentation of Market covered in the research: Food Service Packaging Market Information Report by Product (Flexible Packaging, Rigid Packaging, Paper and Pouches, Bags, Others), By Application (Dairy Products, Fruits and Vegetables, Baked Goods, Others) and By Region - Global Forecast to 2028 About Market Research Future: Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.