Food Wrap Market Size, Share & Trends Analysis Report, 2030



 Food Wrap Market Size & Trends

The global food wrap market size was estimated at USD 5.15 billion in 2023 and is projected to grow at a CAGR of 7.5% from 2024 to 2030. The food wrap market is driven by rising consumer demand for convenience, sustainability, and food safety. Besides, increased awareness of eco-friendly packaging, growing online food delivery market, and advancements in materials that extend shelf life are also contributing to the food wrap market growth.

Additionally, the rising trend of on-the-go food consumption is significantly driving the demand for food trucks, which are becoming increasingly popular as they offer convenience, variety, and affordability. As more consumers seek quick, portable meals, food trucks are thriving in urban areas, festivals, and events. This surge in food truck activity directly boosts the demand for food wrap, which is essential for ensuring freshness, portability, and easy handling of various food items. Food wraps, made from materials like paper, aluminum foil, and plastic, are crucial in maintaining the quality of food during transit and are often customized to enhance branding for food truck businesses. As food trucks continue to grow in popularity, the need for effective and sustainable food wrap packaging is also on the rise, driving innovation and expansion within the packaging industry.

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Moreover, the rise of online food delivery services has significantly transformed the food industry, creating a ripple effect on related sectors, including food packaging. As consumers increasingly opt for the convenience of ordering meals through platforms such as Uber Eats, DoorDash, and Grubhub, restaurants, and cloud kitchens are adapting to meet this demand. This shift has driven a surge in the need for efficient, reliable, and sustainable food wrap packaging solutions.

Material Insights

Paper dominated the overall market with a revenue market share of over 54.0% in 2023 and is expected to witness robust growth with a CAGR of 6.5% over the forecast period. The paper material segment is gaining traction due to rising environmental awareness and the shift towards sustainable packaging. Consumers and businesses are increasingly seeking eco-friendly alternatives to plastic, driving innovation in paper-based wraps.

Application Insights

The food service segment dominated market and accounted for largest revenue share of over 52.0% in 2023. The food service segment of the food wrap market caters to restaurants, cafes, hotels, and other food establishments. This positive outlook can be attributed to the growing of the restaurant industry, increasing demand for takeout and delivery services, and a focus on sustainable packaging options.

Regional Insights

North America region is characterized by the presence of major food service companies such as KFC Corporation, Domino's, Starbucks Corporation, McDonald's, Dunkin' Donuts, Tim Hortons, Taco Bell IP Holder, LLC, Wendy's, Burger King Company LLC, Subway, Chick-fil-A, and Arby's IP Holder, LLC. These companies operate many restaurants and outlets, serving a wide range of foods to customers. The sheer volume of food sold, especially fast-food items such as burgers, sandwiches, and wraps, in these outlets is creating a substantial demand for food packaging solutions, including food wraps. Thus, the overall outlook is benefiting the food wrap market in the region.

U.S. Food Wrap Market Trends

Food wrap market in the U.S. is a dynamic and ever-evolving industry, driven by increasing food expenditure and rapid growth of e-commerce food delivery platforms in the country. According to the U.S. Department of Agriculture (USDA), in 2023, U.S. food expenditures reached USD 2.6 trillion, with food-away-from-home spending at 58.5% of the total, reflecting a shift in consumer behavior. This rise in out-of-home dining is expected to boost growth opportunities for QSRs, cafes, and food kiosks, driving demand for various food wraps such as plastic, aluminum, and paper-based wraps to maintain food freshness during transit.

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