The global food container market is evaluated at US$175.702 billion for the year 2019 and is projected to grow at a CAGR of 3.87% to reach the market size of US$229.196 billion by the year 2026.
Food containers are primarily used for product preservation, storage, and transportation to extend the food's shelf life. Food containers should be sturdy enough to prevent spoilage or harm to the contents of the package. Food containers come in a variety of materials and are used for a variety of purposes. Food containers help to preserve the quality of food by allowing it to travel safely great distances from its source. The food container market is expected to be influenced by rising consumer awareness of environmental and sustainability problems connected to food packaging.
Food storage containers, especially in the refrigerator and freezer, are used to keep food at normal temperatures. Some food products must be kept for extended periods, necessitating the use of containers that are very durable, efficient, and protective. For food preservation, some food containers are subjected to extra procedures. Plastic bags, plastic containers, and glass containers are all options for food storage. There are many different types of plastics, but edible grade food containers are made of polyethylene, polyester, and polypropylene.
The considerable increase in global food output is projected to boost the global market for food containers. Today's savvy customer demands simple packaging that is easy to transport, store and enables immediate food consumption. As a result, food container producers must stay up to evolving consumer tastes. The increasing number of women in the workforce, the increased number of families consuming packaged goods, and the enormous increase in double-income households are all contributing to the worldwide market for food containers' excellent growth prospects.
Food Safety and Quality maintenance to aid the market demand.
Food containers keep food items fresh and allow them to transport securely great distances from their point of manufacture. The need for food containers has risen because of rising populations, urbanization, and changing lifestyles. Furthermore, government limits on greenhouse gas emissions in the food and beverage industry are expected to boost demand for sustainable packaging, thereby boosting market development.
Increasing focus on innovation and aesthetics of food containers to augment market expansion.
Food producers are increasingly focusing on innovation and aesthetics of food containers, which is enticing them to provide their goods in a variety of creative food packaging, which is likely to fuel market development soon. For instance, to decrease plastic waste, Nissin is removing lid-closing stickers from its cup noodle package and replacing them with a new invention. The sticker was used to keep the lid tight after pouring hot water into the cup noodle container, however, it was made of plastic. The new double flap lid will function similarly, with a W-shaped flap to hold the lid closed. The lid material, which is made of paper, remains unchanged.
Prevalence of plastic packaging and creative solutions to facilitate market growth.
Because of its numerous benefits over other materials, plastic is the most widely used material in the packaging industry. According to the American Chemistry Council, packaging 10 gallons of beverages requires only two pounds of plastic resins. To provide the same amount of drink, eight pounds of steel, three pounds of aluminum, and about forty pounds of glass are required. Plastic containers are made from a variety of plastic resins, including HDPE, LDPE, PET, PP, and polystyrene. However, due to the environmental problems associated with it, companies are coming up with creative solutions.
For instance, Burger King in the United States and Japan, as well as Tim Hortons in Canada, will trial reusable, closed-loop container initiatives using TerraCycle's circular packaging platform, Loop, beginning in 2021 to aid in their efforts to decrease packaging waste. Guests will be able to pay a deposit with their purchase for reusable and returnable cups or food containers, which will be repaid once the packaging is returned.
In 2019, Asia Pacific led the worldwide market, thanks to significant government backing for the region's fast-developing food processing industry. Countries like India, China, and Japan are key contributors to the APAC regional market's expansion. According to Invest India, India now has 18 mega food parks in operation and 19 more in the planning stages. Kraft Heinz Company, Danone, Nestle, McCain, and Mars are among the largest investors in the Indian food sector. Between 2019 and 2020, India exported roughly 1,290-kilotons of seafood worth USD 6.68 billion.
Over the projection period, North America is expected to increase at a stable pace. The rise in demand for packaged and convenient meals among the working population can be ascribed to this increase. Furthermore, the rising demand for canned goods in the United States, such as tinned fish and meat, is boosting market expansion in the area.
|Market size value in 2019||US$175.702 billion|
|Market size value in 2026||US$229.196 billion|
|Growth Rate||CAGR of 3.87% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Product, Food Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Amcor Limited, WestRock, Mondi, Sonoco, Printpack, Pactiv LLC, Novolex, RTS Packaging, MeadWestvaco Corporation, Graham Packaging Company Incorporated|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the food container market?
A1. The global food container market is projected to grow at a CAGR of 3.87% over the forecast period.
Q2. What will be the food container market size by 2026?
A2. The food container market is projected to reach a total market size of US$229.196 billion in 2026.
Q3. What is the size of the global food container market?
A3. Food Container Market was valued at US$175.702 billion in 2019.
Q4. How is the food container market segmented?
A4. The global food container market has been segmented by product, food type, and geography.
Q5. What factors are anticipated to drive the food container market growth?
A5. The rising demand for packaged food items throughout the world is projected to fuel the food container market expansion.
Graham Packaging Company Incorporated
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