Food Container Market
The global food container market size was valued at USD 222.00 billion in 2023. The market is projected to be worth USD 233.13 billion in 2024 and reach USD 361.64 billion by 2032, exhibiting a CAGR of 5.64% during the forecast period.
A food container refers to a packaging solution developed for transporting, storing, and handling. With mounting demand for perishable packaged food products, the market is anticipated to project substantial growth over the assessment period.
Fortune Business Insights™ mentions this in a report titled, “Food Container Market, 2024-2032”.
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List of Key Players Present in the Report:
- Amcor (Switzerland)
- Berry Global Inc. (U.S.)
- Ardagh Group (Luxembourg)
- Graphic Packaging International, LLC (U.S.)
- Tetra Pak (Switzerland)
- International Paper (U.S.)
- Silgan Holdings Inc. (U.S.)
- WestRock (U.S.)
- Crown Holdings Inc. (U.S.)
- Sonoco Products Company (U.S.)
- Stölzle Glass Group (Austria)
- Gerresheimer AG (Germany)
- Huhtamaki (Finland)
- Genpak LLC (U.S.)
- PRINTPACK (U.S.)
Segments
Plastic Segment Dominates the Segment as it Offers Product Visibility
Based on material, the market is classified into plastic, paper & paperboard, glass, metal, and others. The plastic segment dominates the market and is expected to witness rapid growth during the projected period. Plastic offers optimum product visibility and protection from spills and dirt, boosting segment growth.
Various Properties of Cups & Tubs to Augment Segment Growth
By product type, the market is categorized into bottles & jars, cups & tubs, boxes & cartons, trays, and others. The cups & tubs is the dominating segment and its high demand is credited to its lightweight, durability, and leakage-proof advantages.
Surging Food Consumption and Production to Fuel Fruits & Vegetables Segment Growth
On the basis of application, the market is divided into fruits & vegetables, dairy products, spices & condiments, frozen food, bakery, snacks & confectionery, ready-to-eat meals, and others. The fruit & vegetables segment is leading the market due to the increasing production and consumption of fruits & vegetables due to their health benefits.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Reusability and Durability of Food Containers Boost Market Expansion
The durability, versatility, and reusability provided by food containers are augmenting their demand in many food packaging applications. The ability of these containers to withstand many temperature ranges, along with maintaining the freshness of both cold and hot foodstuffs, drives the food container market growth.
However, the volatility of raw materials required for the production of food containers is restraining the market expansion.
Information Source: https://www.fortunebusinessinsights.com/food-container-market-109583
Regional Insights
Well-established Food Manufacturing Industry to Drive Market Growth in North America
North America holds the dominant food container market share owing to the region's well-established food production industry and developed packaging sector.
Asia Pacific is the second-leading region in the market due to the rapid online food delivery sector growth in different countries.
Competitive Landscape
Key Players are Expanding Their Customer Base to Lead the Market
The food container market is consolidated with key players, such as Amcor, Ardagh Group, and others. These players are integrating innovation into their existing product range to expand their customer base, further fueling market growth.
Key Industry Development
November 2023 – Sonoco, a leading packaging company, signed an agreement to acquire Clear Pack Company, an integrated producer of thermoformed & extruded plastic materials and containers. The acquisition will help Sonoco expand its rigid plastic capabilities as Clear Pack Company produces plastic containers for different consumer products and food service companies.
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