Funviralpark NEW YORK, USA, December 23, 2022 (GLOBE NEWSWIRE) — Food container market overview
According to a comprehensive research report by Market Research Future (MRFR), “food container market Information by Type, Material, Application and Region – Forecast to 2028”, the market is estimated to reach USD 191 billion by 2028, growing at a CAGR of 4.3%.
Market overview
Food containers can be described as containers used for transporting, preserving and storing food to extend shelf life and facilitate handling. The market for food containers is expanding due to growing awareness of environmental issues such as pollution and sustainability challenges in food packaging.
As a result, consumers receive the highest quality food. Another factor boosting the demand for ready-to-eat packaged food is the changing lifestyle of consumers, which ultimately led to increased demand for food containers internationally.
There are many different food storage containers on the market. Food containers are available in a wide range of sizes, styles and colors. There are his single-meal food containers for individuals, such as lunch boxes and containers, and food containers designed for multiple meals for groups. Food can be stored in both segregated and non-approved containers, depending on the type.
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Reporting scope:
| report attribute | detail |
| Market size in 2028 | US$191 billion |
| CAGR | 4.3% (2021–2028) |
| base year | 2020 |
| Forecast period | 2021–2028 |
| historical data | 2019 |
| Forecast unit | Value (billion) |
| report coverage | Earnings forecast, competitive environment, growth factors, trends |
| Target segment | By type, by material, by application, by region |
| Target area | North America, Europe, Asia Pacific, Rest of World (Row) |
| key market drivers | Market wonder properties like an airtight container that keeps the product free from moisture. |
| Another characteristic of the market is to offer a leak-proof package. |
Market Competitive Landscape:
Wealthy companies in the food container market have
- Bemis Company Inc. (USA)
- Berry Plastics Corporation (USA)
- Crown (US)
- Graham Packaging Company (USA)
- Ball Corporation (USA)
- Constar International UK Ltd. (United Kingdom)
- Anchor Glass Container Co., Ltd.
- Plastipak Holdings Inc. (USA)
- Printpack (US)
The industry is highly competitive due to the presence of global, regional and local producers.The products available from the manufacturers in the market come in various sizes, shapes and formats. Players compete against each other on a variety of factors including company reputation, product offering, pricing, quality, recyclability and sustainability. In order to expand their market position and increase their share, the majority of players use various key strategies such as new product releases, innovation, expansion of distribution networks, joint ventures, mergers and acquisitions. doing.
In April 2022, Amcor announced the addition of a new greener high shield laminate for its pharmaceutical container business. Innovative, recyclable, low-carbon packaging options have been created to meet the high barriers and performance standards underlying the recyclability goals of the pharmaceutical industry.
Target Market USP:
Market drivers:
The development of biodegradable and intelligent food packaging materials has attracted worldwide attention, which has led to the expansion of the global food container market. Moreover, the market for food containers is expected to increase significantly during the forecast period due to increasing urbanization and dramatic shift from traditional staple foods to processed or packaged foods.
In recent years, the development of packaged food as one of the most profitable segments of the global food and beverage industry has driven significant development of the food container market. The food packaging business has a lot of room for growth due to the ever-expanding selection of product types in the market and the growing range of their available applications.
The food container market will benefit from a dramatic increase in global food production. Consumers want simple packaging that is easy to transport, consume and store. As a result, it is important for food container manufacturers to keep up with changing consumer preferences. The global food container is expected to develop rapidly due to developments in technology, logistics applications, distribution networks, and the packaging sector.
An increase in the number of households consuming packaged goods, an increase in the proportion of working women, and a significant increase in the number of dual-income households are all factors in the robust growth prospects of the global food container market. Demand for this product will be further boosted by the growing population of single-family homes and metropolitan areas.
Market constraints:
Changes in consumer tastes
The market for food containers is expanding rapidly, but certain factors, such as changing consumer preferences, are limiting this growth. Market participants must invest heavily in cutting-edge designs, making it difficult to keep up with changing tastes. that appeal to consumers. As a result, the projected expansion of the global food container market is limited by changing consumer preferences.
View the detailed market research report (page 130) food container https://www.marketresearchfuture.com/reports/food-container-market-1799
COVID 19 analysis
After COVID-19, production of food containers was limited due to a shortage of raw materials due to supply chain disruptions. 2020 saw annual revenue declines for many key players. In contrast to 2019, Amcor plc’s annual sales fell by about 6% in 2020.
Demand for packaged food has surged throughout the pandemic as it is seen as a vital product. Moreover, the demand for food containers has not declined due to strong supply chains of established food brands and wide market penetration in several economies. However, supply he chain disruptions and transportation constraints have reduced sales for many large companies, including Amcor plc.
M.market segmentation
By type
Based on type, this global market is segmented into rigid packaging and flexible packaging. Rigid packaging is often used in food and beverage packaging in the food container industry as it has many advantages such as high barrier properties, high impact strength, and high rigidity, which prevent damage and facilitate handling.
By material
The global market is segmented into paper and paperboard, glass, plastic, metal, etc., according to the materials used. The plastic materials segment of the industry has the largest market share, followed by the paper and paperboard segment.
by application
Meat products, fruits and vegetables, baked goods, confectionery, dairy products, and frozen foods make up various application-based segments of the global market. Frozen meat and dairy hold the largest market share in the food container industry. The expected term also anticipates an increase in frozen food growth.
by product
Based on product, the global market is segmented into bags, containers, pouches, and other categories. The bags and pouches sector holds the largest market share due to many advantages such as mobility, affordable performance, convenience and lightweight features.
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Regional Insight
The North American market is the clear winner as a result of increased consumption of packaged goods, adoption of smaller food containers at home, reduced waste, and increased demand for fresh produce.
The Asia-Pacific market will witness the fastest growth in the coming years due to changing lifestyles, increasing total demand for canned food, growing popularity of packaged goods, and rising personal disposable incomes of consumers. world market. Europe now holds her third largest market share of food containers in the world.
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