Food Container Market size is estimated to reach $360.4 Bn by 2025 and is poised to grow at a CAGR of 4.65% during the forecast period 2020-2025. Food containers are mainly used for preservation, storage, and transport to increase the shelf life of the product. Food containers should be strong enough to ensure that the food in the package is not damaged or spoiled. Food Container are used in wide range of applications with different material type. Food containers preserve the quality of food products, allowing them to travel safely long distances from the place of production. The growing consumer awareness of environmental and sustainability issues related to food packaging is projected to influence the food container market. North America accounts for the largest share of the market owing to high utilization of packaged foods and is set to continue over the forecast period (2020-2025).
Food Container Market Segment Analysis - By Type
The global Food Container market based on the Type has Rigid and Flexible packaging. The Rigid Packaging segment accounted for the largest market share in 2019 This is owing to its high rigidity, high impact strength and high barrier properties. The rigid food containers have longer durability which is acting as a factor for the segment to grow over the forecast period (2020-2025). The flexible packaging is set to be the fastest growing with a CAGR of 5.23% during the forecast period 2020-2025. This is owing to rising importance of thin-film packaging in the nutritional industry as a protective medium for enhancing the shelf life of finished food goods.
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Food Container Market Segment Analysis - By Material
Based on Material, the market is classified into Paperboard, Metal, Glass, Plastic, and others. In the manufacture of food containers, plastic accounts for the largest proportion of consumption owing to its demand, reusability properties and cost efficiency. The glass segment is projected to increase its market over the forecast period (2020-2025). Glass storage containers usually have a plastic lid to help keep the container airtight. The demand for glass jars is more owing to their ability to keep food fresh for longer than compared to other types of containers.
Food Container Market Segment Analysis - By Geography
North America dominates the market with share of 37.1% in 2019. This is owing to increasing use of packaged goods, the reduction of waste, the increased introduction of small food containers in homes and the demand for fresh food. In addition, increasing personal income, urbanization as well as ascending interest in packaged food are the factors driving the market in this region. The Asia-Pacific region is set to be the fastest growing region during the forecast period 20202-2025. This is owing to increase in disposable income and changing lifestyle enhance the growing popularity of packaged foods, and the growing consumer demand for canned food.
Food Container Market Drivers
Maintaining Food Quality
Food containers preserve the quality of food products, allowing them to travel safely long distances from the manufacturing site. Growing populations, increasing urbanization, and changing lifestyles have increased the demand for food containers. In addition, government regulations on greenhouse gas emissions in the food and beverage industry are set to increase the demand for sustainable packaging, which could contribute to market growth.
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Food Container Market Challenges
Low Quality
The food gets contaminated on storing them in low quality containers. Storing food for longer time in containers is set to lead to damage of food. The biggest challenge for food container manufacturers is to keep pace with changing consumer preferences. Therefore, food container manufacturers must produce quality products that are fresh, leak-proof, airtight and innovative with an aesthetically pleasing design.
Food Container Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Food Container Market. Key companies of this market include Bemis Company Incorporated, Ball Corporation, Associated Packaging Technologies, Berry Plastics Corporation, Caraustar Industries Incorporated, Evergreen Packaging, Graham Packaging Company Incorporated, Crown Holdings Incorporated, Hood Companies, Manchester Industries, Graphic, Owens-Illinois Group Incorporated, Pactiv, MeadWestvaco Corporation, and Plastipak Holdings Incorporated.
Acquisitions/Product Launches:
In June 2020, Ball Corporation announces national partnership with Blue Ocean Innovative Solutions for retail launch of Ball Aluminum Cup.
In March 2020, Berry Global Announces Investment to Increase Production Capacity of Ultra High Performance (UHP) Machine and Hand Stretch Films.
Key Takeaways
Geographically, The North American market is projected to dominate over the forecast period (2020-2025) owing to Urbanization, as well as ascending interest in packaged food.
The market is driven by the increasing sophisticated consumer demand for convenient, easy-to-carry, storable and ready-to-eat food packaging.
The cost of Food containers, durability and space occupancy for heavy containers is hampering the growth of the market over the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Food Container Market report.
Related Reports :
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https://www.industryarc.com/Report/15122/fresh-food-packaging-market.html
B. Food Processing Ingredients Market
https://www.industryarc.com/Research/Food-Processing-Ingredients-Market-Research-504465
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