Rising Demand for Sustainable and Eco-Friendly Food Storage Containers Drives Market Growth
Market Research Future Insights
Food is kept in a food storage container at ambient temperature, in the fridge, or in the freezer. Each of these ways to store food can be done in a variety of ways. Several aspects must be taken into consideration when selecting the sort of container to employ. Think about the food kind, the type of storage (at room temperature, in a refrigerator, or frozen), the length of the storage facility, and the amount of storage space. Glass containers, plastic containers, and plastic bags are all reasonable alternatives.
Food Storage Container Market is projected to be worth USD 212.47 billion by 2030, registering a CAGR of 4.19% during the forecast period 2022 to 2030.
There are so numerous different types of food containers available in the request. Food containers come in a wide variety of sizes, shapes, and colors. For several meals for groups, there are food containers made for single meals for individuals, similar as lunch boxes and containers. The different types of food can be stored in containers with and without sections.
Regional Analysis
Asia Pacific dominated the global market in 2020 accounting for a profit share of over 36 and is estimated to be the swift- growing indigenous market from 2021 to 2028. This can be credited to the rapidly growing food processing industry in the region due to strong government support. The countries, similar to India, China, and Japan, are the major contributors to the growth of the APAC regional request.
North America is anticipated to grow at a steady CAGR of 3% over the forecast period. This growth can be attributed to the adding demand for packaged and convenience foods among the working population. Also, adding demand for canned foods, similar to canned fish and meat, in the U.S. is accelerating the market growth in the region. According to the data published by Delaware Sea Grant, about 55% of all seafood consumed in the U.S. in 2017 was limited to canned tuna, salmon, and shrimp.
Market Segmentation
Global food container market is segmented based on the material, product, and region. based on the material, the global food container market is segmented as paperboard, essence, glass, plastic and others. Based on product, the global food container market is segmented as bottles and jars, cans, cups and tubs, boxes and others. Based on region, it’s categorized into North America, Europe, Asia- Pacific, Latin America, and MEA.
Analysis by Material
Plastic is both lighter and further energy-efficient to manufacture than other accoutrements. Plastic food containers are constantly seen and vended in retail establishments. Depending on its consistency, food containers can be of poor to high grade. With a deal share of further than 46 in 2020, the plastic member was the market leader. The market has been segmented into plastic, metal, glass, and other materials.
Due to its numerous benefits over contending accoutrements, plastic is the material most constantly used in packaging. Compared to other accoutrements, plastic is lighter and produces with a lot lower energy. In addition, it’s relatively cheap when compared to other accoutrements like glass and essence.
Analysis by Product
Global food container market has been segmented on the basis of product as bottles and jars, cans, cups and tubs, boxes, and others. Additionally, it lengthens the food product shelf lives
Key Players
Amcor and Bemis company Inc., Tupperware Brands Corporation, Newell Brands, LOCK&LOCK Co. Ltd, Hamilton Housewares Pvt. Ltd, Ball Corporation, Constar International Inc., Plastipak Holdings Inc., Anchor Glass Container Corporation, Associated Packaging Inc., Berry Global Inc., Crown Holdings Inc., Graphic Packaging International Inc., Graham Packaging Company, Avery Dennison Corporation, ACCO Brands
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