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Food Container Market Was Valued At US$ 295.18 Billion In 2021 And Is Expected To Reach Over US$ 430.5 Billion By 2030

01-24-2023 03:18 PM CET | Science & Education

Press release from: Analytics Market Research

Food Container Market

Food Container Market

The global food container market was valued at US$ 295.18 billion in 2021 and is expected to reach over US$ 430.5 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2030.

Food containers are mainly used for product preservation, storage and transportation to extend the shelf life of food. Food containers must be sturdy enough to prevent the contents of the package from spoiling or being damaged. Food containers come in a variety of materials and are used for a variety of purposes. Various materials such as plastic, metal, glass, and paper are processed and moulded into food containers. Some containers such as paper containers are ideal for biodegradable and compostable, making them suitable for recycling. Additionally, glass bottles are often suitable for refrigeration purposes and are suitable for heating in the microwave.

Food containers help maintain the quality of food by allowing it to travel safely long distances from its source. The food container market is expected to be affected by increasing consumer awareness of environmental and sustainability issues related to food packaging. Moreover, the growing demand for perishable products such as dairy and meat that can be stored in environmentally friendly containers offers great potential for food containers market in the forecast period. As a result, eco-friendly food containers are driving the growth of the global food container market during the forecast period.

Eco-Friendly Packaging
Consumers prefer eco-friendly packaging, and manufacturers are developing recyclable containers that are resistant to friction, moisture and heat. Therefore, the demand for eco-containers is increasing among consumers. Consumers are attracted to stylishly designed containers that are efficient and require little maintenance. Glass storage containers normally have a plastic lid that keeps the food airtight, these containers are accessible in clear, frosted, and coloured glasses, they keep the food fresh for longer periods as compared with other food storage containers so the demand for glass container is increasing among the consumers. For example, glass jars usually have plastic lids that keep the food airtight. These jars come in clear, frosted, and coloured jars and keep food fresh longer compared to other food jars. Thus, the demand for glass container is increasing among the consumers.

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Packaged Food Sector
Furthermore, the growth of packaged food as one of the most profitable sectors of the global food and beverage business has brought massive advancements across the food container market. The ever-increasing diversity of product types available in the market and the ever-expanding range of applications offer significant growth potential for the companies in the food container market. Frozen foods, ready-to-eat foods, snack foods, mixes, and desserts are examples of packaged foods. Manufacturers are likely to increase their production capacity in response to the increasing demand for these products, which will boost the demand for food containers during the forecast period. Therefore, small packages of flour, cooking oils and ready-to-eat foods are expected to present significant growth opportunities for the industry in the coming years.

According to the Flexible Packaging Association beta report, the flexible packaging industry generated $33.6 billion in revenue in the United States in 2019. Additionally, flexible packaging is second largest packaging sector in the United States, accounting for approximately 19% of the $177 billion US packaging market. Flexible packaging is made of paper, plastic, foil, aluminium foil, or any combination of these materials and includes pouches, pouches, liners, wrappers, roll goods, and other flexible products. Flexible packaging is especially useful in industries that require versatile packaging such food and beverage, personal care, and pharmaceutical industries. Hence, growing demand for flexible packaging in the food and beverage industry is boosting the market growth.

Additionally, population growth, urbanization, and lifestyle changes are increasing the need for food containers. Moreover, government regulations on greenhouse gas emissions in the food and beverage industry are expected to increase the demand for sustainable packaging, driving market growth. However, food contamination due to poor quality material of food containers can hamper the growth of the food container industry. As a result, food container market players need to produce high-quality, airtight, leak-proof, and creative products with attractive appearance. Therefore, poor quality of materials is a major challenge for the growth of the food container market during the forecast period.

Material Insights
Based on material, the plastic segment dominated the global food container market with the highest market share in 2021. The growth of this segment is due to the plastic's resistance to extreme external conditions and its light weight which makes the product easy to handle and move. According to the American Chemistry Council, it takes just 2 pounds of plastic resin to package 10 gallons of beverage. In contrast, serving the same amount of beverage requires 8 pounds of steel, 3 pounds of aluminium, and about 40 pounds of glass. Various types of plastic resins such as HDPE, LDPE, PET, PP and polystyrene are used in the manufacture of plastic containers.

Product Insights
Based on product, the bottles and jars segment dominated the global food container market with the highest market share in 2021. Bottles and jars are the most commonly used products in the rigid food packaging segment. Various types of food such as jams, honey, sauces, cheese, mayonnaise, spices, oils, spreads, syrups, processed vegetables and fruits, fish, meat, etc. are packed in various types of glass and plastic jars and jars.

Regional Insights
North America is the region's largest segment of the food container market. This is due to increased consumption of packaged products, increased acceptance of small food containers at home, reduced waste and increased demand for fresh produce. Furthermore, Asia Pacific is the fastest growing region for the food container market. This is attributed to changing consumer lifestyles, increasing demand for canned goods, increasing people's disposable income and increasing popularity of packaged goods. According to Invest India, India has 18 mega food parks in operation and 19 under construction. Major investors in the Indian food market include Kraft Heinz Company, Danone, Nestle, McCain and Mars. During 2019-2020, India shipped about 1,290 tons of seafood worth US$6.68 billion.

Key Companies Insights
Leading market players are engaged in various activities such as new product development, new production process development, product innovation, collaborations, partnerships, acquisitions, and mergers to utilize untapped resources and policies to expand their customer base. Manufacturers on the market offer a wide range of products in different sizes, shapes and formats. Competition among players is based on numerous parameters such as company reputation and product offering, price, quality, recyclability and sustainability. Moreover, due to the growing concern about the environment, major manufacturers are focusing on using sustainable and eco-friendly materials such as paper and cardboard to produce different types of packaging products. For instance, in May 2021, Plastipak has officially launched a large-scale recycling investment at its manufacturing site in Toledo, Spain. A new recycling plant converts PET flakes into food-grade recycled PET (rPET) granules. The granules can be used directly in new preforms, bottles and containers.

Some of the key players operating in the global food container market include:
• Amcor plc
• Anchor Glass Container Corporation
• Ardagh Group
• Ball Corporation
• Bemis Company Inc.
• Berry Plastics Corporation
• Constar International UK Ltd.
• Crown
• Graham Packaging Company, Inc.
• Plastipak Holdings Inc.
• PRINTPACK
• Silgan Holdings, Inc.
• Sonoco Products Company
• Tetra Pak
• Weener Plastics
• Other Players

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Segments
By Material
• Plastic
• Metal
• Glass
• Others

By Product Type
• Bottles & Jars
• Cans
• Cups & Tubs
• Boxes
• Others

By Packaging Type
• Rigid
• Flexible

By Application
• Grain Mill Products
• Dairy Goods
• Fruits & Vegetables
• Bakery Products
• Meat Processed Products
• Other

By End Users
• Hotels, Restaurants & Cafes
• Retail Food Chains
• Cinemas
• Institutional
• Canteens
• Others

Global Food Container Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Food Container market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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About US:
Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.

Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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