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Food Containers Market Outlook, Insights, and Size 2024-2033 | Trends and Forecast
Food Containers Market Outlook
As per the report, the food containers market size has grown strongly in recent years. It will grow from $275.51 billion in 2023 to $300.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The food containers market size is expected to see strong growth in the next few years. It will grow to $435.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
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Rising Consumption Of Processed And Frozen Foods Fuels Growth In The Food Container Market
The increase in consumption of processed and packaged frozen food is anticipated to propel the growth of the food container market. Processed foods include various ingredients like artificial colors, flavors, or other chemical additives, which affect the health of individuals that cause obesity and other chronic diseases like diabetes and heart disease. Nowadays, because of the fast-moving lifestyle of individuals, there has been increasing in the consumption of processed and frozen packaged foods. This high consumption creates demand for processed and frozen packaged food, which again allows food processing and packaging industries to develop more products with more nutrient value and ensure minimum side effects. For instance, in 2022, according to the report by American Frozen Food Institute, frozen food sales in the US reached more than $72 billion. Moreover, virtually all US households almost 98.6% purchase frozen food at least once a year. Therefore, the demand for processed and packaged food is driving the demand for food-containing containers.
Technological Advancements Revolutionize The Food Container Market
Technological advancements are a key trend gaining popularity in the food container market. The advanced technology transformed the food manufacturing industry and associated businesses, technology such as the use of recyclable packaging, smart packaging, and micro packaging that increase the life span of food material and avoid direct contamination. Recyclable materials are mostly used in the incaging industry that help bushelpsses implement circular packaging practices. Furthermore, recyclable packaging technologies also cater to mono-material packaging, which avoids the use of a multilayer packaging system. Technological advancement including recyclable packaging solutions is a discovery of knowledge that advances technology. For instance, in October 2022, HuhtamäkiOyj, a Finland-based consumer packaging company, launched an innovative, recyclable ice cream packaging solution based on paper-based technology.This is an innovative food container that can be recyclable and environmentally friendly in nature.
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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Major companies operating in the food containers market include Amcor plc, Plastipak Holdings Inc., Sonoco Products Company, Graham Packaging Company Inc., Ball Corporation, Printpack Incorporated, Ardagh Group, Tetra Laval International S.A., Bemis Company Inc., Graphic Packaging International LLC, Anchor Glass Container Corporation, Caraustar Industries Incorporated, Evergreen Packaging, Anchor Packaging Inc., Berry Global Group Inc., Cambro Manufacturing Company, CKS Packaging Inc., Crown Holdings Inc., Dart Container Corporation, D&W Fine Pack LLC, Eco-Products Inc., Fabri-Kal Corporation, Genpak LLC, Georgia-Pacific LLC, Huhtamäki Oyj, Inline Plastics Corporation, International Paper Company, Libbey Inc., Menasha Packaging Company LLC, Novolex Holdings LLC, Pactiv LLC, Placon Corporation, Polytainers Inc., Reynolds Group Holdings Limited, Sabert Corporation
Contents of the report:
1. Executive Summary
2. Food Containers Market Report Structure
3. Food Containers Market Trends And Strategies
4. Food Containers Market - Macro Economic Scenario
5. Food Containers Market Size And Growth
…..
27. Food Containers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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