Food Containers Market

Food Containers Market Size, Share, Growth (2023-2028)

Food Containers Market size was valued at USD 164.89 billion in 2023 to reach USD 212.08 Billion by 2028, with growth at a CAGR of 5.16% during the forecast period 2023-2028.

Food Containers Market Overview:

The rise of packaged food as one of the world's most profitable food and beverage markets has fueled large-scale industry changes for food containers over the past couple of years. The ever-expanding variety of products on the market and the growing spectrum of applications offer companies in the food packaging industry significant growth opportunities. As a result of consumer developments from manufacturers, an increasing demand is expected to remain a major driving force for convenience goods in emerging economies, including China and India.Available as elastic bags, boxes, packages, rigid plastic containers, metal containers and glass bottles, food containers. Due to their excellent properties like good heat insulation, fragrance retention, and humidity barrier resistance, flexible material in the food industry are expected to increase their importance over the projected timeframe.

Food Containers Market Report Statistics:

Food Containers Market Drivers And Restraints:

Drivers:

Food manufacturers are increasingly focusing on food container innovation and aesthetics, driving them to offer their products in a variety of creative food packaging, which is expected to fuel Food Containers Market share in the forecast period. The rising environmental concerns are driving the market into expanding its product portfolio by using eco-friendly products. For example, to reduce plastic waste, Nissin is removing lid-closing stickers from its cup noodle packaging and replacing them with a new design. The plastic sticker was used to keep the lid in place after pouring hot water into the cup noodle container. The new double flap lid will function similarly, with a W-shaped flap to hold the lid closed. The lid's substance, which is made of paper does not alter. These factors further propel the Food Containers Market growth.

The increased desire for novel solutions to maintain food quality is one of the fundamental reasons driving the global food container market. Food containers keep foods fresh and allow them to be transported safely long distances from their point of origin. Because of expanding populations, changing lifestyles, and urbanization, the need for food containers has increased. Businesses, on the other hand, are developing inventive solutions to the associated environmental challenges. Furthermore, government laws limiting greenhouse gas emissions in the food and beverage industry are expected to drive Food Containers Market size by increasing demand for sustainable packaging. Advanced Food Products, for example, has implemented sustainability measures aimed at lowering fuel and energy usage, reducing waste through zero-landfill regulations, and reaching 100% recyclable practices.

Restraints:

Some of the reasons hampering the Food Containers Market growth of food containers are food contamination and poor cleanliness. When food is stored in containers for an extended period, it is known to become contaminated. The biggest challenge for food container manufacturers is keeping up with changing consumer tastes and preferences.  As a result, food container manufacturers must produce high-quality, fresh, leak-proof, airtight, and visually appealing goods. Furthermore, according to a study by Friends of the Earth, the manufacturing of plastic produces and contributes to about 5% of greenhouse gas emissions. This is supposed to hinder the Food Containers Market growth.

Opportunities:

As people have become more aware of environmental issues, the market for environmentally friendly food containers is growing. Furthermore, rising health awareness creates the potential for growth in this global Food Containers Market. Furthermore, during the anticipated period, the increased demand for perishable products such as dairy and meat would create significant potential for this industry. Demand for bioplastic packaging is being driven by regulations demanding recycling and material sustainability to maintain environmental balance. These factors provide a huge opportunity for the food container market to grow and prosper.

Challenges:

The global Food Containers Market is growing at an alarming rate, 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 must spend a lot of money on innovative designs that are pleasing to customers. Furthermore, the most essential raw material utilized in the manufacturing of food containers is plastic, whose price is constantly fluctuating. Food becomes tainted when it is stored in low-quality containers. When food is stored in containers for an extended period, it is known to deteriorate. The biggest challenge that food container manufacturers face is keeping up with changing consumer tastes. As a result, food container manufacturers must offer high-quality, airtight, leak-proof, and visually appealing goods. Low material quality will provide a significant impediment to the market's growth throughout the projection period.

Recent developments in the Food Container Market Industry:

1. Ardagh Group started operations with an investment of US$ 21.6 million in glass bottles in November 2015 at the Ayrshire site in Scotland. In the following nine years, the expansion of capability and product development are expected to be the main success factors for market participants.

2. Berry Plastics Group, Inc and Klöckner Pentaplast Group announced in March 2015 the establishment of a strategic alliance to provide F&P, automotive, and healthcare industries with creative packaging solutions to shape filling screens worldwide.

Food Container Market is segmentation:

By Product:

• Sweet

• Bitter

The largest consumer segment in 2018 was flexible packaging which represented 41.4% of market share. During the next nine years, there is expected to be a growing value of thin-film packaging in the nutritional industry as a protective medium in order to increase the shelf-life of finished products.

The growth of Rigid plastics at the CAGR of 4.4% is expected for 2019-2024. Technological innovation in terms of biodegradable plastics production by companies like Cargill Foods will offer new market opportunities over the forecast year for rigid material types.

By Application:

• Personal Care & Cosmetics

• Pharmaceuticals

• Food

Meat processing products reported revenue of USD 62.16 billion in 2018 and is expected to witness significant growth owing to the increasing sales volumes of frozen beef product forms in the developed countries, including the U.S. and Germany.

Dairy goods are projected to foresee growth at a CAGR of 4.0% from 2019 to 2024. Product innovation by Kerry Foods, Fonterra, and Dairy Foods America Inc. coupled with the development of new products including cheese and chilled desserts are expected to play a significant role in increasing the demand for containers over the next nine years.

Food Container Market Regional  Analysis:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

The Asia Pacific was the largest region in 2018, representing 33.5% of the global share. Growth in demographics, rapid urbanization and increased disposable income is expected to play a significant role in increasing the size of the food and drink sector in the next nine years, including in China, India, Bangladesh and Thailand.

With a CAGR of 4.6%, from 2016 to 2025, the Middle East & Africa is anticipated. Industrial changes from the upstream oil and gas industry to the domestic food and drink market in countries such as Saudi Arabia and the UAE in the Middle East are expected to pave the way for a rise in utility expenses in the years ahead, along with stringent regulations aiming at increasing the reuse of packaged materials in developed countries including the United States, UK and Germany.

Food Container Market Key players:

1. Thermos l.c

2. Stanley

3. Hamilton Housewars Pvt ltd.

4. Valor industries

5. Tokyo Plast