Yahoo Finance Food Container Market to Surpass USD 206.7 Billion by 2028, at a CAGR of 4.5% from 2022– 2028, owing to Rising Product Use to Increase Food Shelf Life
The latest research report from SkyQuest on the food container market provides key insights on segments, sub-segment, and regions to help market players and other stakeholders find the market's pulse. In addition, the use of advanced research techniques, expert interviews, and highly efficient tools makes the report a comprehensive resource to rely on entirely.
Westford USA, Feb. 06, 2023 (GLOBE NEWSWIRE) -- North America continues its dominance over the food container market due to increasing packaged goods consumption and growing household use of tiny food containers. Furthermore, consumers are shifting their beliefs to promote more sustainable and environmentally friendly consumption habits as the world continues to confront the effects of climate change. In addition, major global businesses attempt to change their packaging materials to suit client demands. All of these factors will eventually drive growth for the market. In addition, rising consumer spending on fast food items, increasing penetration of digital food platforms, and rapid growth rate of the food service industry augment the market expansion.
According to SkyQuest, the post-COVID-19 phase has witnessed the global population's increasing purchasing power and resulted in a 7.5% increase in spending on household items in 2022 compared to total expenditure in 2020.
Browse in-depth TOC on "Food Container Market"
Pages - 224
Tables - 69
Figures - 65
A food container is a tool to transport, store, and preserve food to increase shelf life and facilitate handling. Food is kept at an average temperature using storage containers, particularly refrigerators and freezers. However, some food goods must be preserved for extended periods, necessitating the employment of solid, effective, and safe containers.
Prominent Players in Food Container Market
Bemis Company, Inc.
Crown
Berry Plastics Corporation
Graham Packaging Company
Alpha Packaging
Werke Alwin Lehner
Constar International UK Ltd.
Ball Corporation
Silgan Holdings, Inc.
Amcor Limited Alpha Packaging
Plastipak Holdings, Inc.
Rahway Steel Drum
Tetra Laval International S.A.
Anchor Glass Container Corporation
PRINTPACK
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Plastic Segment to Account for Significant Market Share owing to Increasing Popularity of Plastic-Based Containers
With a sales share of almost 46% in 2022, the plastic segment held the top spot in the food container market. Plastic is the most widely used material type in the packaging industry due to its many benefits over competing materials. Other materials cannot compare to plastic's lightweight and manufacturing energy efficiency. In addition, it is fairly affordable when compared to other materials like metals and glass.
The demand for food containers is projected to rise because they find wide application in the food and beverage industry. North America is one of the world's top producers and exporters of fruits and vegetables. In addition, a sizable portion of the North American market is devoted to the meat and poultry industry, which is anticipated to spur demand for the containers used to package meat and meat-related goods. In the German market, sales of dried fruits, fish and seafood, bakery goods, organic items, and pulses are strong, which is predicted to increase demand for the food container market.
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The bottles and Jars Segment Emerges as the High Revenue Contributor for the Food Container Market
The bottles and jars segment accounted for a 27.4% share in 2022 and is projected to increase this lead during the forecast period. They are the most often used product type for rigid food packaging. Different varieties of glass, plastic jars, and bottles are used for packaging various kinds of food. In addition, market participants' wide range of product offerings helps attract a large consumer base. All these factors are anticipated to drive positive growth prospects for the segment.
Asia Pacific is anticipated to hold a sizable portion of the food container market owing to the proliferation of the e-commerce market and the major shift in consumers' eating preferences. In addition, the increasing disposable income level and the population's spending capabilities are projected to contribute to regional market growth.
The research report on the food container market offers deep insight into the market trends, demand forecasts, and competitive landscape. The market report will help manufacturers, distributors, and other entities to understand the present dynamics and identify future trends to devise effective strategies.
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Key Developments in Food Container Market
By a stock purchase agreement, Mitsui & Co., Ltd. and FP Corporation have finalized the plan to acquire shares in Lee Soon Seng Plastic Industries ., during the deal with SCGM Bhd. LSSPI produces and sells practical food containers mostly throughout Southeast Asia. By leveraging the networks of Mitsui's investors and partners in Southeast Asia, Mitsui, and FPCO will increase sales. In addition, they will introduce FPCO's expertise to enhance production efficiency and various product development technologies to develop eco-friendly products that ensure safe and reliable dietary lifestyles and meet market demands.
Antares Vision Group introduced the "All-in-One" line of inspection devices, a technology-equipped series of inspection machines for the food sector. Food businesses only need one machine to satisfy a variety of quality criteria. To address many quality needs, including regulatory compliance, container integrity, detecting micro leaks and pollutants, weight control, and confirming labeling, the All-in-One series combines several inspection controls into a single machine.
Burger King has announced that it is bringing a new product line of reusable and returnable packaging in collaboration with the global reuse platform Loop across select restaurants. A reusable clamshell burger container and cup are part of the new lineup. In addition, Burger King claims it will test the Loop reusable clamshell packaging for hamburgers as the first fast food establishment in the UK. With a target of a 41% reduction in value chain emissions per restaurant by 2030, Burger King claims that reusable packaging is a component of their plans to minimize carbon emissions.
The first combistyle carton packaging for the Americas has been introduced by Swiss aseptic packaging provider SIG in collaboration with Brazilian meat and dairy supplier Frimesa. The combistyle carton pack from SIG has a corner panel for practical purposes such as consumer appeal and on-shelf differentiation. Flexible packaging is created to support the needs of many product categories and satisfy shifting consumer demands. The company will use this format for all its conventional milk products, including whole, semi-skimmed, skimmed, and lactose-free milk.
Key Questions Answered in the Food Container Market Report
Which are the key drivers and restraining factors influence the market?
What are the regulatory frameworks and industry policies for market participants?
What are the lucrative market segments to focus on during the forecast period?
What are key strategic plans ideal for improving market position?
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