Market Analysis
The global food container market is likely to grow at a healthy CAGR in the forecast period 2021- 2028, as per the latest Market Research Future (MRFR) analysis. Food containers are chiefly used for storage, preservation, and transport to increase the product’s shelf life. They should be durable to ensure that the food in the package is not spoiled or damaged. Food containers have wide applications with various material types.
Various factors are fuelling the global food container manufacturers. As per the recent MRFR market estimates, these factors include the growing need for convenience food products in emerging economies, product innovation by manufacturers, growing significance of flexible packaging material in the nutrition industry, the emergence of packaged food, growing number of women in workforces, growing population across urban settings, and the growing number of single-person households. Besides, the demand for airtight containers, growing health awareness, demand for eco-friendly food containers, and growing demand during COVID-19 pandemic due to growing government measures and growing awareness about hygiene are also adding market growth.
On the contrary, changing preference of consumers and fluctuations on raw material price may impede the global food container market growth over the forecast period.
Key Players
The notable players profiled in the global food container market report include PRINTPACK (U.S.), Plastipak Holdings, Inc. (U.S.), Anchor Glass Container Corporation (U.S.), Constar International UK Ltd. (U.K.), Ball Corporation (U.S.), Graphic Packaging International, LLC (U.S.), Graham Packaging Company (U.S.), Crown (U.S.), Berry Plastics Corporation (U.S.), and Bemis Company, Inc. (U.S.), among others.
The global food container market is fragmented and also competitive with the presence of many domestic as well as international industry players. They have incorporated assorted strategies to stay at the forefront and also cater to the surging needs of the customers, including collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. Additionally, these players are also making heavy investments in research and development activities for strengthening their portfolios and also creating a hold in the market.
Market Segmentation
The Market Research Future report throws light on an inclusive segmental analysis of the global food container market based on product, application, material, and type.
By type, the global food container market is segmented into flexible packaging and rigid packaging. Of these, the rigid packaging segment will lead the market over the forecast period for its extensive use on the food container market owing to its alluring properties.
By material, the global food container market is segmented into metal, plastic, glass, paper and paper boards, and others. Of these, the plastic segment will dominate the market over the forecast period.
By application, the global food container market is segmented into frozen foods, dairy products, baked and confectionery, fruits and vegetables, and meat products. Of these, frozen food and dairy products will spearhead the market over the forecast period.
By product, the global food container market is segmented into pouches, containers, bags, and others. Of these, bags and pouches will have the lions share in the market over the forecast period.
Regional Analysis
By region, the global food container market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will dominate the market over the forecast period. Increasing consumption of packaged goods, growing adoption of small-sized food containers in the household, increasing personal income, and rising urbanization are adding to the global food container market growth in the region. The US holds the utmost market share.
The food container market in the APAC region is predicted to have promising growth over the forecast period. Changing lifestyle, demand for canned food, growing popularity of packed foods, and rise in personal income are adding to the global food container market growth in the region.
The food container market in Europe and Rest of the World are predicted to have stable growth over the forecast period.
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