The Food Containers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Food Containers Global Market Report 2024, The food containers market size has grown strongly in recent years. It will grow from $275.51 billion in 2023 to $300.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to food preservation and shelf life, convenience and on-the-go lifestyles, urbanization and population growth, food safety regulations, sustainability concerns.
The food containers market size is expected to see strong growth in the next few years. It will grow to $435.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to customization and branding, health and safety concerns, online food delivery and meal kits, regulatory changes and packaging standards. Major trends in the forecast period include innovation in material science, meal prep and portion control, single-use plastics alternatives, smart packaging, eco-friendly packaging.
The increase in consumption of processed and packaged frozen food is anticipated to propel the growth of the food container market. Processed foods include various ingredients like artificial colors, flavors, or other chemical additives, which affect the health of individuals that cause obesity and other chronic diseases like diabetes and heart disease. Nowadays, because of the fast-moving lifestyle of individuals, there has been increasing in the consumption of processed and frozen packaged foods. This high consumption creates demand for processed and frozen packaged food, which again allows food processing and packaging industries to develop more products with more nutrient value and ensure minimum side effects. For instance, in 2022, according to the report by American Frozen Food Institute, frozen food sales in the US reached more than $72 billion. Moreover, virtually all US households almost 98.6% purchase frozen food at least once a year. Therefore, the demand for processed and packaged food is driving the demand for food-containing containers.
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The food containers market covered in this report is segmented –
1) By Product: Bottles and Jars, Cans, Cups and Tubs, Boxes
2) By Material: Plastic, Metal, Glass
3) By Application: Meat Products, Dairy Products, Bakery Products, Fruits and Vegetables
Technological advancements are a key trend gaining popularity in the food container market. The advanced technology transformed the food manufacturing industry and associated businesses, technology such as the use of recyclable packaging, smart packaging, and micro packaging that increase the life span of food material and avoid direct contamination. Recyclable materials are mostly used in the incaging industry that help bushelpsses implement circular packaging practices. Furthermore, recyclable packaging technologies also cater to mono-material packaging, which avoids the use of a multilayer packaging system. Technological advancement including recyclable packaging solutions is a discovery of knowledge that advances technology. For instance, in October 2022, HuhtamäkiOyj, a Finland-based consumer packaging company, launched an innovative, recyclable ice cream packaging solution based on paper-based technology.This is an innovative food container that can be recyclable and environmentally friendly in nature.
The food containers market report table of contents includes:
- Executive Summary
- Food Containers Market Characteristics
- Food Containers Market Trends And Strategies
- Food Containers Market – Macro Economic Scenario
- Global Food Containers Market Size and Growth
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- Global Food Containers Market Competitive Benchmarking
- Global Food Containers Market Competitive Dashboard
- Key Mergers And Acquisitions In The Food Containers Market
- Food Containers Market Future Outlook and Potential Analysis
- Appendix
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