Takeaway Food: A key factor in growth of Paper Board making Industry in long term. Read the detail report.
Takeaway Food Becomes a Key Catalyst for the Growth of the Paperboard Industry
Takeaway Food Becomes a Key Catalyst for the Growth of the Paperboard Industry
Paperboard is what Scyphus is all about. Like a good cup of coffee begins with the perfect coffee plant, the perfect coffee cup needs the ideal paperboard. For decades now, Leslie Carr had been traveling to the Far East, Europe, and all over searching for the best source of paperboard. His experience with paperboard is now further enriched by the recent surge in compostable cups.
NORTHAMPTONSHIRE, England - March 12, 2018 :
Leslie Carr, director and the go-to guy for everything related to procuring and manufacturing of branded paper cups has been very busy once again.
After years of traveling to the Far East and all over Europe for the top FSC or PEFC accredited paper mills, he had been settled at the Northampton Factory for a while now, looking after production and the complex machinery involved.
Then, finally, in the year 2016, he had to take notice of the growing demand of compostable paper cups and thus once again had to pack his bag and travel all over Europe to look for the best supplier of Bio Boards and found BioBoard™, the perfect solution to his quest.
The entire team of Scyphus was pretty serious about going from better to the best, given the continuous change in the demand for the quality of the printed paper cups, and the ever growing demand for paper cups with the continuous growth in the fast food industry.
Leslie here writes about the paper board and paper packaging industry in general and how the soaring demand in fast food is skyrocketing growth in this industry too.
A fresh report published by the Research and Markets has revealed that the need for packaged goods including the soaring demand for takeaway food and beverages is driving the demand for paper and paperboard products. The market, reaching a value of $482.4 billion in 2017, is forecasted to maintain its ascension to attain $523.6 billion by 2022.
Rising demand for takeaway food and beverages is creating upheavals
The food and beverage industry has been relentless with innovations. Since a while already, takeaway options have positioned themselves on the top list of consumer demands, largely bolstered by the hectic pace of life and the limited time available for having lunch on spot at food outlets or restaurants. For instance, in the United Kingdom, the average lunchtime has been dramatically squeezed to only 15 minutes according to a study carried out by the University of Westminster. Over half of Britons, that is, more than 25 million people, are equally skipping breakfast at home for the simple reason that they are constantly in a hurry.
As the number of on-the-go consumers keeps rising, the dynamics of the food and beverage industry worldwide are being revamped. Established business models are being forced to review their whole strategy to stay afloat. This upheaval in consumer behaviour is, nonetheless, perceived by a number of businesses as a great opportunity for expansion and innovation. Marketing approaches are being recalibrated and various forces are being analyzed and redirected to generate competitive advantages over competitors. Various businesses are deepening their understanding of this evolving and highly demanding consumer segment to be able to take advantage of this trend.
Paper board manufacturing is a fertile market
This movement is not only impacting on the players directly involved in the food and beverage market, but also on those companies that are indirectly related such as those in the paper and paperboard manufacturing. The recent research has revealed that the need for packaged food and other items, as well as other factors such as rising population and emerging growth market, is having a strong positive influence on the paper and paperboard market as a whole. In other words, the growing number of consumers demanding takeaway food and beverages is obligating food outlets to cater for same. As a result, the rising demand for takeaway containers and cups is proving to be favourable to the paper and paperboard industry too.
It is expected that this market will grow at a Compound Annual Growth Rate (CAGR) of 1.7%. In 2017, the segment that benefited the most from this growth is the paper manufacturing market, enjoying a share of 57% in the market. Paper board manufacturing is equally expected to enjoy a healthy growth estimated at a CAGR of 2.6%. The leading market worldwide is the Asia-Pacific region, closely followed by North America and Western Europe. In terms of value in the paper and paperboard market, China is currently holding the largest market share.
The rise of the digital consumer is boosting the paper industry
Even if in certain cases, digitization seems to pose a challenge, it is, as a matter of fact, proving to be a powerful tool for innovative businesses ready to anticipate new opportunities and make the most of these chances. These businesses are daringly segmenting the various types of consumers and innovating to meet their demands. Today, digitization is truly disruptive in the food and beverage market as the digital consumer is rising. To maximize consumer satisfaction and engagement, companies are offering various online and seamless channels in this socially networked world. Technology-driven opportunities are being exploited by many brands to deeply connect and engage loyal clients.
An increasing number of clients today wishes to eat at home while wanting the quality of restaurant’s meals. A survey conducted by Paymentsense revealed that 57% of Britons prefer to have their takeaway meals delivered and enjoy their meals from the comfort of their homes.This trend has led to the creation of a number of online platforms for ordering food, especially in this era where innovative and convenient payment methods, such as mobile payment, are popping up constantly. Differential marketing and sales strategies are also constantly being devised with the clear objective of expanding customer base by through home delivery services or takeaway options. Various food chain restaurants have innovated by incorporating these online distribution channels to ensure that they keep or attain a leading position.
Influenced by the soaring demand for customization in food offerings as well as the acceptance of fast food which no longer necessarily rhymes with unhealthy food, the food and beverage market is being quick to respond. Key players are betting on this trend to promote hygiene food home delivery services. To ensure hygiene and health safety in the food items being delivered, food outlets have to, of course, make use of high-quality packaging as well.
Sustainably sourced paper is in high demand
More conscious than ever about their own health and the health of the planet itself, consumers are not only being selective in the food they are buying but in the quality of the containers they are being served. To meet this demand, companies and brands have been encouraged to adopt eco-friendly products and strategies. Sustainable packaging is also recognized as part of a greater solution in reaching a resource-efficient society and today, disposable food containers represent the most convenient and lightweight packaging for delivering food items.
At the same time, governments and various organizations are passionately advocating for sustainable initiatives. This stronger focus on the protection of the environment and on waste management is leading to the hardening of laws and regulations; many businesses in the food and beverage industry or related industries are thus having to adapt to propose the necessary bespoke packaging solutions. This shift is hence boosting the biodegradable food service disposables market that increasingly has to seek sustainably sourced biodegradable and compostable paper to manufacture adequate corresponding containers and cups.