Improving economy to drive US demand
through 2017
US demand
for foodservice disposables is expected to approach $20 billion in 2017. Growth
will be driven by accelerated foodservice revenue increases relative to the
performance of the recessionimpacted 2007-2012 period, reflecting an improved
outlook for consumer spending in tandem with continuing economic expansion,
which will drive increased frequency of restaurant visits.
Packaging products to grow fastest
Packaging
products will achieve the fastest gains through 2017, driven by above average
revenue increases in the limited service segment, which accounts for over half
of restaurant revenues but generates a much higher share of foodservice
disposables demand. Expanding menu options in limited service restaurants,
longer hours to include breakfast and snacking beyond traditional meal times,
and ongoing development of new restaurant concepts will also bode well for
related packaging. The popularity of takeout food from full service restaurants
and greater prepared food options from retail stores will also fuel packaging
demand. Packaging that maintains freshness and enhances the visual appeal of
prepared foods will be a consideration for packaging demand in the retail
market.
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Serviceware
gains will lag the overall average as a result of an expected moderation in
material prices following spikes in recent years, along with rising competition
from Asian imports in some segments. Nonetheless, prospects will be supported
by a favorable outlook for limited service restaurant and retail establishment
foodservice revenue growth, along with steady demand in institutional and other
markets. Also supporting gains will be the increased focus on gourmet coffee
and specialty cold drinks by quick service restaurants and convenience stores,
and increased catering activity by restaurants.
Robust
advances are anticipated for degradable packaging and serviceware from a
relatively small base, the result of heightened prominence of environmental
issues, efforts by foodservice establishments to differentiate themselves, and
heightened local bans on foamed polystyrene disposables.
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Eating & drinking places to
remain dominant market
Eating and
drinking places, which held two-thirds of foodservice disposables demand in
2012, are by far the largest market for foodservice disposables. While growth
in this market will be fueled by a continuing recovery in the broader economy
as well as healthy prospects for limited service restaurants and changes in the
mix of menu items, the retail and vending market will represent the fastest
growing disposables market through 2017. Gains will be driven by the growing
focus on prepared foods in supermarkets, warehouse clubs, and convenience
stores, as retailers strive to differentiate themselves and regain some share
of sales that have been lost to restaurants.
Among
restaurant types, fast casual restaurants will record the fastest advances as
they continue to gain share from quick service restaurants and casual dining
restaurants. Also driving the popularity of fast casual restaurants is their
appeal to two important demographics: aging baby boomers and younger baby
boomers.
Company Profiles
Profiles
35 industry players such as Dart Container, D&W Fine Pack, Genpak,
Georgia-Pacific, Huhtamaki, International Paper, Reynolds Group and Rock-Tenn
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