The Food Container Market consists of containers used for packaging food products to increase their shelf life. Food containers help preserve the taste, freshness and nutritional value of products. They come in different materials like plastic, glass, metal etc. and vary in shape and size as per product requirements.
The global Food Container Market is estimated to be valued at US$ 168.83 billion in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing concerns about environmental pollution have led many packaging companies to focus on eco-friendly and sustainable packaging solutions. One of the key trends gaining traction in the food container market is the use of bioplastics for packaging. Bioplastics are plastics derived from renewable biomass sources like vegetable fats and oils, corn starch, biogas etc. instead of petroleum. They are compostable and biodegradable, reducing long-term impact on the environment. Besides bioplastics, recycled plastics are also increasingly being used by leading food brands for packaging to lower carbon footprint. Many quick service restaurants have also introduced recyclable and refillable packaging options driven by rising eco-awareness among consumers. This emphasis on green packaging is expected to propel growth of the food container market during the forecast period.
SWOT Analysis
Strength: The food container market has strong growth potential as packaging ensures food safety and increases shelf life of products. Food containers help prevent contamination and damage during transportation.
Weakness: Raw material prices volatility can increase production costs for food container manufacturers. Growing consumer preference for sustainable packaging options is a challenge.
Opportunity: Rising global population and income levels drive the demand for food and beverages, fueling opportunities for innovative food containers. Growing organized retail and online grocery shopping boost market growth.
Threats: stringent government regulations regarding usage of plastics and adoption of eco-friendly options act as a restraint. Substitute packaging materials also pose competition.
Key Takeaways
The Global Food Container Market Size is expected to witness high growth. The market size for 2024 is projected to reach US$ 168.83 Bn registering a CAGR of 6.3% during the forecast period of 2023 to 2030.
Regional analysis comprises: North America dominates the global food container market currently due to rise in consumption of packaged and ready-to-eat food items. Asia Pacific is expected to experience the fastest growth due to growing middle class population, rapid urbanization, and rising disposable incomes in countries such as China and India.
Key players analysis comprises: Key players operating in the food container market are DJO Global, Inc. and BSN medical. Food container manufacturers are expanding their capacity and product offerings to cater to the rising demand. They are focusing on developing sustainable packaging solutions using recycled materials.
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