The global market for food containers is projected to grow at a compound annual growth rate of 4.06%. Over the forecast period, this market is estimated to increase at a rapid pace and is anticipated to reach US$ 274.042 billion in 2028 from US$ 207.476 billion in 2021.
Food containers are predominately used for the preservation, storage and transportation of food products to increase their shelf life. They are durable and help in maintaining the quality of the food product by preventing it from getting spoiled so that it can be transported over long distances. They are available in various shapes, colours, designs, sizes and are composed of several materials such as glass plastic, paper, and cardboard. The global market for food containers is categorised into various segments which include – the type of product, the application and the geographical region.
The high demand for convenient packaging solutions will foster growth for the global food containers market during the analysis period.
Demanding work schedules, rising personal income and fast-paced lifestyles have significantly altered consumer preferences and spurred the adoption of convenient packaging and storage solutions. For many customers, the ease of packing, and transporting that these food containers offer has taken on significant importance which will drive demand for the global market. Expanding nuclear families, increasing female labour force involvement, and rising living standards, will further boost market prospects. In addition, it is anticipated that the growing demand for processed and packaged foods will fuel the global food container industry over the next few years.
The massive expansion in the world’s food production is what largely drives the global market for food storage containers. For instance, fruit output in India reached 107.10 million tonnes, up 4.5 percent from the 102.48 million tonnes produced in 2020, according to the India Brand Equity Foundation. It is expected that there will be an increase in demand for practical packaging that makes food easy to transport, store, and consume right away.
In order to keep up with the growing trend of rising environmental consciousness, several key manufacturers and companies are employing biodegradable materials that can be recycled, refurbished, and reused to create packaging and storage solutions that are better for the environment which will bode well for the food containers market in the future.
According to the research and analysis, out of all the material types, plastic food containers are expected to substantial market proportion, during the anticipated period.
Based on the type of container the market for food containers is categorized into glass containers, plastic containers, metal containers, paperboard containers and pouches & bags. Out of all these mentioned above plastic food containers are anticipated to account for a major share of the global market during the analysis period.
Many of us have a kitchen cabinet full of plastic containers that we use to keep our leftovers. Fast food chains and restaurants widely use plastic containers to pack food for takeaway or delivery orders. This is because plastic materials have a number of advantages over other types of food materials. Most food packages and containers are primarily made of plastic as it is extremely lightweight and is manufactured with a lot less amount of energy. A study by the US Environmental Protection Agency found that plastic containers require 40 per cent less energy to manufacture than paper containers.
Additionally, it is economical compared to other types of containers such as metal and glass food containers. They can be used by any firm or business irrespective of the size of their operations. Small-scale manufacturers benefit most from the affordability of plastic food packaging since it gives them access to standardised packaging alternatives despite limited financial resources.
Plastic containers can withstand harsh conditions and don’t easily get corroded in cold and hot temperatures, protecting the quality of the food while keeping the container intact. Additionally, it shields food items from dust, bacteria, air, moisture, and light. They are highly versatile as they can be easily moulded into any shape and size. Some of the plastic resins used to manufacture food containers are PET, polypropylene, LDPE etc.
However, the negative impact of plastic materials on the environment and health will restrict the growth of this segment as manufacturers are shifting towards more sustainable and biodegradable food packaging and storage solutions.
During the analysis period, the negative impact of food containers on the environment is anticipated to obstruct the growth of the global food container market.
In the modern world of food packaging, food containers are used to keep the food safe, shelf-stable, and clean. Unfortunately, most packaging is single-use and is either thrown away or recycled instead of being reused. The US EPA estimates that about half of all municipal solid waste is made up of food and materials used in food packaging such as containers.
Most of the food containers available in the market are made out of plastic. As the knowledge of the health and environmental risks of plastic grows people are shifting towards more sustainable alternatives. According to the renowned industrial ecologist Roland Geyer, the amount of plastic that has ever been recycled stands at 9 per cent. The full cost of this low-priced material is starting to become more clear due to its effects on global warming and pollution, as well as the toxins and microplastics that enter our bodies, the food chain, and the environment.
Plastic containers are composed of various harmful chemicals such as phthalates and BPA which can adversely harm our health. Researchers acknowledge that there are still numerous knowledge gaps about the many other chemicals that are added to plastic during its manufacturing process.
Not just plastic but others materials also hurt the environment. For instance, in manufacturing glass containers, the raw materials used are burned using large amounts of fossil fuels which leads to the emission of greenhouse gases and fumes into the environment.
During the analysis period, out of all the geographical regions the market is segmented into the Asia Pacific region is likely to account for a rapid growth rate in the global Food containers market.
The global fatty alcohol market has been divided into five regions: North America, South America, Europe, the Middle East and Africa, and Asia Pacific. During the projected period, the Asia Pacific food containers market is expected to grow significantly during the aforementioned period. Rising disposable income, rapid urbanization and the demand for western-style diets are supporting the growth of the food containers market in this region. The food packaging market in Asia pacific has grown positively and is expected to grow significantly over the projection period. The rapid expansion of the food processing sector and HoReCa industries in countries like India, Chain and Japan with help of government initiatives will also bolster the growth of food containers in this region. Prime markets in the Asia Pacific region include India, China, Japan, South Korea, Indonesia, Thailand and Taiwan.