The fast food bag market is estimated to be valued at US$ 486.0 million in 2024. The market valuation was US$ 460.7 million in 2023. The market is projected to progress at a CAGR of 5.5% over the forecast period from 2024 to 2034. By 2034, the market is expected to reach US$ 830.2 million.
Fast Food Bag Market Analysis
· Growing fast food culture is rapidly increasing the demand for fast food bags.
· Consumers are inclined toward consuming fast food at home. Online food delivery boom is driving sales of food bags, aiding the market growth.
· The rise in fast food restaurants increases the demand for fast food bags.
· Fast food bags have evolved to provide maximum safety. The material has become sturdier, to reduce spillage of food.
· As lifestyles get hectic across the globe, fast food is seen as a convenient option by several people. Fast food bags add to the convenience of consumers by being easy to handle while still providing security. Thus, the practicality of fast food bags is leading to increasing demand
Long-term Analysis of the Fast Food Bag Market
In 2024, the value of the fast food bag market is estimated at US$ US$ 486.0 million. During the forecast period from 2024 to 2034, the market is expected to progress at a CAGR of 5.5%.
The fast food bag market is expected to grow more rapidly over the forecast period than in the historical period. The popularity of fast food continues unabated and is expected to soar over the forecast period. An increase in the number of fast food eating places is also conducive to the growth of the fast food bag market.
The tendency of people to consume fast food at home is predicted to grow over the forecast period. The online delivery channel is projected to propel the market’s growth over the forecast period. By 2034, the market value is expected to have jumped to US$ 830.2 million.
Trends in the Fast Food Bag Market
· Fast food consumers are leaning toward eco-friendly packaging. Thus, biodegradable paper bags have emerged as a popular choice among consumers and fast food restaurants.
· While paper bags are growing in popularity, non-biodegradable bags in the market are being looked down upon by consumers. Thus, there are limitations to plastic fast food bags.
· While fast food culture is prominent, there is also a significant number of people who are averse to fast food. As health trends emerge, people are cutting off from fast food to concentrate on eating healthier. Thus, a huge chunk of the population base is cut off from the fast food bag market.
· Multinational big-scale fast food chains like McDonald’s and Wendy’s are making inroads into previously undiscovered areas. By exploring non-traditional areas, the chains are expanding the reach of the fast food market, and in turn, the reach of fast food bags.
· Hotels, fast food chains, and others use fast food bags for advertisement purposes, creating significant marketing opportunities.
· Fast food bags with handles are being used for large-scale orders. The bags provide additional safety to the food, avoiding spillage. In addition, customers get the benefit of reusing the bag for other purposes.
· Flexible packaging is a prominent trend in the packaging industry. Fast food bags are one example of flexible packaging that is helping fast places to make the packaging process easy.
Country-Wise Analysis
Growth of Online Channels Contributing to Progress of the Market in India
India is one of the most promising countries in the market. For the forecast period from 2024 to 2034, the market is expected to grow at a 7.5% CAGR.
Indians are increasingly consuming food at home, including fast food. Therefore, the online food delivery channel is booming in India, especially with the presence of a variety of options. Online food sellers are relying on fast food bags to satiate the considerable delivery and packaging needs of the country.
Significant Presence of Fast Food Chains Positively Impacts the Market in China
Chinese people are increasingly developing a taste for fast food, which is stimulating the growth of the fast food bag market. The market in China is projected to grow at a CAGR of 6.7% over the forecast period.
Multinational fast-food giants have carved out a significant piece of the pie in China. Fast food chains like McDonalds’s, Subway, and KFC have a stronghold in the market. The fast food chains’ strong volume of business aids the fast food bag market’s expansion in China.
Innovation in Fast Food Bags Driving Development of Market in Japan
The market in Japan is witnessing fast progression. For the forecast period, the CAGR for Japan is predicted to be 5.0%.
Japanese people are enticed by creative packaging. Fast food vendors are picking up the hint, and innovative designs have been introduced to lure Japanese consumers. For example, McDonald’s Japan has introduced packaging that shows off the food content inside. Thus, attractive packaging is propelling the fast food bag market in Japan.
Consumer Focus on Sustainability Leading to Popularity of Biodegradable Fast Food Bags in Australia
Australian consumers are striving to be eco-friendly. While a huge portion of the Australian population consumes fast food, sustainability is also a marked concern. Thus, Australian fast food vendors are packaging food in biodegradable material. Thus, eco-friendly fast food bags are developing are becoming common in the country. For the forecast period, the market in Australia is pegged at a normal 4.1% CAGR.
Custom Printing on Fast Food Bags in the United States
The United States accounts for a significant share of the market. The CAGR for the United States market is expected to be 5.4% over the forecast period.
Fast food places in the United States are taking the help of custom printing on fast food bags for marketing and advertisement. In a country highly saturated with fast food places, suppliers are making use of fast food bags to help stand out from the competition.
Competitive Landscape in the Fast Food Bag Market
Market players are focusing on innovations in the design of fast food bags, making bags more compact and flexible to attract consumers.
Advertising on fast food bags has emerged as a significant trend in the market. Market players are also tying up with fast-food brands for partnerships intended to benefit both parties.
Recent Developments in the Fast Food Bag Market
· In April 2023, Novolex Holdings LLC announced the launch of a smart bag. Called the TempSmart bag, it tells consumers whether the food inside is cold or hot.
· In January 2023, France banned the use of single-use packaging in fast food chains. The aim is to reduce the use of plastic in fast food chains.
· In December 2022, Mondi Plc. opened a facility in Morocco that is designed to produce environmentally friendly paper bags. The facility is intended to produce a high quantity of paper bags and can supply various markets, including fast food bags.
These observations are based on a research from Future Market Insights written by Ismail Sutaria about the Fast Food Bag Market.