Press release
Food Containers Market Projects Robust Growth, Expected to Reach $435.82 Billion by 2028
X-Band Radar Market
Key Growth Drivers:
Rising Consumption of Processed and Frozen Foods: The surge in the consumption of processed and frozen foods is a pivotal factor propelling the growth of the food container market. With the fast-paced lifestyle leading to increased reliance on processed and frozen packaged foods, the demand for containers in the food processing and packaging industries has soared. Notably, in 2022, frozen food sales in the US alone exceeded $72 billion, with nearly 98.6% of households purchasing frozen food at least once a year, driving the need for food-containing containers.
Rapid Growth in Global Food Output: The remarkable increase in global food output is anticipated to be a major contributor to the growth of the food container market. As the food production landscape becomes larger and more diverse, food containers play a crucial role in preserving quality, extending shelf life, ensuring safety, and meeting the demands of an expanding food production industry. According to the Organization for Economic Co-operation and Development, the total number of food items increased by a staggering 700% from 2021, indicating substantial growth in food output.
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Major Players:
Leading companies in the food containers market include Amcor PLC, Plastipak Holdings Inc., Sonoco Products Company, and Graham Packaging Company Inc., among others.
Market Trends:
Technological Advancements: Technological advancements, such as the use of recyclable packaging, smart packaging, and micro packaging, are transforming the food container market. Recyclable materials, especially in incaging industries, facilitate circular packaging practices and mono-material packaging, contributing to sustainability. Notably, in October 2022, Huhtamäki Oyj launched an innovative, recyclable ice cream packaging solution based on paper-based technology, showcasing the ongoing technological revolution in food containers.
Investment in Recycling Initiatives: Major players in the food container market are focusing on new investments in recycling products to enhance competitiveness. Investments in recycling initiatives, as seen with Plastipak's major investment in recycling in Spain, contribute to converting polyethylene terephthalate (P.E.T) flakes into food-grade recycled pellets, aligning with the industry's commitment to sustainability.
Regional Insights:
Asia-Pacific emerged as the largest region in the food containers market in 2023, with expectations of being the fastest-growing region in the forecast period. The regions covered include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The food containers market covered in this report is segmented -
1) By Product: Bottles and Jars, Cans, Cups and Tubs, Boxes
2) By Material: Plastic, Metal, Glass
3) By Application: Meat Products, Dairy Products, Bakery Products, Fruits and Vegetables
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Food Containers Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Food Containers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on food containers market size, food containers market drivers and trends, food containers market major players, competitors' revenues, market positioning, and food containers market growth across geographies. The food containers market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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