Global Rigid Food Packaging Market to Surpass USD 317.7 Billion by 2033, Growing at 4.9% CAGR | FMI

As per Future Market Insights, the global rigid food packaging industry is anticipated to surpass USD 317.7 billion in 2033 from USD 197.5 billion yet to be recorded in 2023. The market is likely to witness considerable growth at 4.9% CAGR between 2023 and 2033.

The food service industry is considered to be one of the most prominent sectors across the globe in recent years. Consumers adapt to outside eating habits either by going out to restaurants and cafes or by ordering food from numerous digital platforms. These preferences have spurred the food service market exponentially.

Numerous food chains have been developed in the past five years, and they are reaching their consumers globally by expanding their food chains in numerous countries. Few restaurants and cafes are opening up their outlets in various countries, and they are serving on-the-go food and fast food. Disposable food containers are being widely used by online food service companies.

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Expansion of the market for online food delivery is expected to supplement the rigid food packaging market, as most rigid containers such as plastic and paper containers, are provided by restaurants. Several fast food chains are using rigid paper boxes for delivering food to their consumers.

Busy lives of the working class population is one of the significant factors driving the food service industry and online food delivery platforms. Increased consumption of outside food, high disposable income, and changing spending habits are expected to fuel the demand for rigid food packaging solutions.

Key Takeaways from the Rigid Food Packaging Market

• Based on material, rigid food packaging made from bagasse material is expected to cover 4% of the global market share in 2022.
• The cups & tubs segment by packaging type is anticipated to expand by 3% CAGR during the forecast period in the rigid food packaging market.
• Based on application, the baby food category is estimated to grow 3 times the current rigid food packaging market value during the forecast period.
• The U.S. rigid food packaging market is set to generate a share of around 7% in 2033.
• India is projected to cover about 4% of the rigid food packaging market share throughout 2023.

Escalating Environmental Distress & Usage of Eco-friendly Material Prospering Growth Opportunity for Rigid Food Packaging Market

In the past few years, concerns over the environmental impact of materials used in food packaging industry have been significantly heightened in the global market. Numerous countries are implementing rules and regulations regarding non-degradable materials used on food packaging, causing increased pollution levels.

Necessary actions are being taken by governments to reduce pollution caused by non-decomposable materials such as plastic films and pouches. Few of the manufacturing companies and brands are working towards this initiative. These concerns can be addressed by the application of rigid containers made from bagasse, which is an eco-friendly and renewable resource made from plant fiber.

Plates, cups, takeaway containers, bowls, and other containers can be manufactured from plant fiber. Numerous food businesses are looking forward to using these sustainable rigid food packaging containers, especially driven by high demand for eco-friendly solutions.

Ability of containers made from bio-waste to decompose and biodegrade is expected to fuel the rigid food packaging market. Grease-resistant, water-resistant, temperature- resistant, high strength, and insulating properties of rigid food packaging containers made from plant-based materials are expected to drive the global rigid food packaging market.

Competition Landscape: Rigid Food Packaging Market

Amcor plc, Greif Inc., Crown Holdings, Inc., Mauser Packaging Solutions, Berry Global Inc., Silgan Holdings Inc., Sonoco Products Company, Pactiv LLC, Printpack, ITC Packaging, DS Smith plc, WestRock Company, Sealed Air Corporation, Smurfit Kappa Group plc, Huhtamaki Oyj, Genpak, LLC, and Georgia-Pacific LLC among others are few of the key players spurring the global rigid food packaging market.

Get More Insights into the Rigid Food Packaging Market Report

Future Market Insights, in its new report, offers an unbiased and thorough analysis of the global rigid food packaging market, analysing historical demand from 2015-2022 and forecast statistics for 2023-2033.

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Rigid Food Packaging Market Outlook by Category

By Material:

• Plastic
• Paper & Paperboard
• Metal
• Glass
• Bagasse

By Packaging Type:

• Trays & Clamshell
• Bottles & Jars
• Cans
• Cups & Tubs
• Boxes & Cartons
• Others (Bowls, Cutlery)

By Application:

• Meat, Poultry & Seafood
• Dairy Products
• Bakery & Confectionary
• Ready-to-eat Food
• Baby Food
• Produce Food
• Other Foods (Spices, Sauces)

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Middle East & Africa
• Oceania

Have a Look at Related Reports on the Packaging Domain:

Scented Paper Market - https://www.futuremarketinsights.com/reports/scented-paper-market

Stem Wrap Market - https://www.futuremarketinsights.com/reports/stem-wrap-market

Nursery Grafting Tape Market - https://www.futuremarketinsights.com/reports/nursery-grafting-tape-market

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.