Ottawa, Feb. 17, 2022 (GLOBE NEWSWIRE) -- According to Precedence research, the global food container market size was valued at US$ 283.18 billion in 2021. A food container is a container that is primarily used for storage, preservation, and transportation of food in order to extend its shelf life and assure ease of handling. The global food container market is driven by an increase in awareness of sustainability issues and environmental challenges associated to food packaging. This will also guarantee that consumers receive high quality food. Another element driving up demand for ready to eat packaged foods is changing lifestyles.
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The increased demand for packaged food products around the world is likely to drive the food container market expansion. Furthermore, the ease with which these containers may be used to package, carry, and transport food products is a major element boosting product demand in the global food container market. Frozen food, ready to eat food, snacks, mixes, and desserts are all examples of packaged foods. The manufacturers are likely to increase production capacity in response to rising demand for these products, which will boost the demand for food containers over the forecast period.
The key market players are employing various strategies and policies to expand their customer base by utilizing untapped resources and policies such as the development of new product, development of a new production process, product innovation, collaboration, partnerships, acquisitions, and mergers.
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Report Scope of the Food Container Market
| Report Attributes | Details | |
| Market Size | USD 283.18 Billion | |
| CAGR | 4.2% | |
| Base Year | 2021 | |
| Fastest Growing Region | Asia Pacific | |
| Largest Market | North America | |
| Companies Covered | PRINTPACK, Ball Corporation, Graham Packaging Company, Bemis Company Inc., Crown, Constar International UK Ltd., Anchor Glass Container Corporation, Plastipak Holdings Inc., Berry Plastics Corporation, Graphic Packaging International LLC | |
Report Highlights
- Based on the material, the plastic segment dominated the global food container market in 2020 with highest market share. This segment’s growth can be attributed to the plastic’s resilience against extreme exterior circumstances and lightweight nature, which allows the product to be handled and moved with ease.
- Based on the product, the bottles and jars segment dominated the global food container market in 2020 with highest market share. The bottles and jars are used on a large scale for storing liquids and fluids. The perishable products are also stored for long period of time in the bottles and jars.
- North America is the largest segment for food container market in terms of region. This is due to a rise in packaged products consumption, increased acceptance of small sized food containers in the home, reduced waste, and increased demand for fresh food.
- Asia-Pacific region is the fastest growing region in the food container market. This is attributed to the changing consumer lifestyles, increased demand for canned food, increased disposable income of people, and increased popularity of packaged goods.
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Market Dynamics
Drivers
Environmentally friendly food containers
In this global market, there has been an increase in demand for food container. As people become more aware of environmental issues, more eco-friendly food containers are being manufactured. In addition, as people become more mindful of their health, this market will continue to develop. Furthermore, during the anticipated period, the rising demand for perishable products such as dairy and meat that can be stored in eco-friendly containers would provide significant potential for this industry. As a result, environmentally friendly food containers are fueling the growth of the global food container market during the forecast period.
Restraints
Changing consumer preferences
The global food container market is increasing rapidly, but some factors are limiting its growth, such as changing consumer preferences, which makes it difficult for market players to keep up with changing preferences because they need to spend a significant amount of money on innovative designs that appeal to customers. As a result, the changing consumer preferences are hindering the growth of the global food container market during the forecast period.
Opportunities
Maintaining food quality
The food containers keep food products fresh and allow them to transport securely great distances from their point of manufacture. The need for food containers has increased as a result of rising populations, urbanization, and changing lifestyles. Furthermore, government controls on greenhouse gas emissions in the food and beverage industry are expected to boost demand for sustainable packaging, thereby boosting market growth. Thus, this factor is creating lucrative opportunities for the growth of the food container market during the forecast period.
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Challenges
Low quality of materials
When food is stored in low quality containers, it becomes polluted. The food deterioration is known to occur when food is stored in containers for an extended period of time. Following up with changing consumer tastes is the biggest issue for food container market players. As a result, food container market players must produce high quality, airtight, leak proof, and creative products with an attractive appearance. Thus, low quality of materials is a huge challenge for the growth of the food container market during the forecast period.
Segments Covered in the Report
By Material
- Plastic
- Glass
- Metal
- Others
By Product
- Bottles & Jars
- Cups & Tubs
- Cans
- Boxes
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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