Food containers are usually utilized in the form of sacks, flexible bags, rigid plastic containers, paperboard, metal containers, and others. Rising significance of ready to eat food has strengthened the demand for food containers in all over the world. The substantial increase in food output as well as convenience of carrying, packaging and consumption has gained popularity among customers in today’s time. It has been notified that the number of women in service sector and other job related field has intensified over the past few years and this has ultimately increased the consumption of packed foods among urban people and has strengthened the demand for food containers all over the world. Rising awareness related to environmental concerns, development of new packaging material as well as escalating health consciousness among people is likely to fuel the growth of food containers market from 2021-2029. Besides this, escalating consumption of packaged eatables and processed food is anticipated to bolster the growth of food containers market in the next few years from 2021 to 2029.
Change in lifestyle along with increased consumption of packaged food products is expected to drive the growth of global food containers market over the forecast period. The convenience provided by the type of containers in carrying and packaging has obtained significance among consumers. The increasing production of food as well as change in lifestyle is expected to intensify the growth of food containers market over the forecast period. The advantages being offered by plastic containers as compared to glass and metal is anticipated to favorably impact the growth of food containers market between 2021 and 2029.
Food containers market has been estimated to be valued at US$ 306.5 Bn by the end of 2021 and is expected to attain revenue of US$ 457.5 Mn by 2029, expanding at a CAGR of 4.8% during the forecast period 2021-2029.
Purpose of the Report
The purpose of this strategic research study titled “Global Food Containers Market - Growth, Future Prospects, and Competitive Analysis 2021 – 2029” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global food containers market.
Target Audience
USP and Key Offerings
The report titled “Global Food Containers Market - Growth, Future Prospects, and Competitive Analysis 2021 – 2029” offers strategic insights into the global food containers market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on product type and application and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading food containers vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global food containers market, of growth, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
On the basis of product type, the food containers market is categorized into following types:
The food containers market has been observing significant amount of innovation in development of containers. By product type, the food containers market growth is segmented by flexible packaging, rigid packaging, paperboard, and others. In 2020, flexible packaging segment contributed highest share in the total revenue of global food containers market. Rising significance of thin film packaging in nutritional supplement industry as a medium for shelf life for finished goods is anticipated to intensify the growth of global food containers market over the forecast period. Rigid packaging is expected to gain traction in future due to technological up gradation and adoption of biodegradable plastics by companies.
On the basis of application, the food containers market is categorized into following types:
The significant demand for convenience food products all over the world has intensified the demand for food containers. A substantial inclination in output of food all over the world is expected to bolster the demand for food containers market during the forecast period. Processed meat products marked the highest share in the total global food containers market in 2020. The innovation and development of new products by key food container vendors is anticipated to foster the global food containers market over the forecast period.
Inclination towards naturally manufactured products and changing mindset of consumer towards sustainable and packed goods is anticipated to bolster the growth of food containers market over the period 2021-2029. The global food containers market is segment on the basis of geography. Asia Pacific contributed the highest revenue share in total food containers market with a contribution of more than 30% in 2020. Followed by it, North America stood at second position in the same year. Rising urbanization, higher health awareness and consciousness along with high population spending in these developed regions is anticipated to contribute for double digit growth rate of these regions during the projected period. The booming food and beverage sector in Middle East and Africa as well as Latin American countries is anticipated to spur the growth of food containers market in these regions over the period 2021-2029.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Food Containers market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Application
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Product
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
