Food Container Market will increase at 4.3% CAGR between 2023 and 2028

The Food Container Market is projected to be worth USD 191 Billion by 2028, registering a CAGR of 4.3% during the forecast period (2021 – 2028). The massive rise in international food production is propelling the worldwide market. The supply of handy containers that are convenient to store and handle and allow for instant food consumption is predicted to increase. As a result, food container producers must constantly adapt to varying customer preferences.

The increasing requirement for packaged food items all over the world is predicted to propel market growth. Furthermore, the ease of wrapping, carrying, and shipping food products provided by these containers is a significant contributor to product requirements in the worldwide industry. Ready-to-eat (RTE) meals, RTE convenience foods, frozen meals, cake mixes, snacks, and desserts are examples of packaged foods. Growing usage for these products is predicted to compel producers to increase manufacturing capacity, fueling the need for food packaging over the projected time frame.

The growth in the population of working women, the share of households that use processed products, and a substantial increase in double-income homes are enhancing the global sector’s growth prospects for food containers. A population increase in urban centers, as well as an increase in the number of single-person households, are predicted to boost demand for food containers.

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Regional Analysis

Asia Pacific held the largest market share in 2020, making up more than 36% of total revenue, and is expected to be the fastest-growing region from 2021 to 2028. This can be attributed to the area’s rapidly developing food processing sector, which has received powerful support from the government. Nations like India, China, and Japan are key contributors to the APAC regional market’s development.

North America is projected to expand at a 3.0% CAGR throughout the forecast period. This increase can be credited to the operating population’s increased consumption of packaged and convenience foods. Moreover, rising demand for canned foods such as fish and meat in the United States is speeding up the region’s market expansion.

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Market Segmentation

With a profit share of more than 46% in 2020, the plastics sector dominated the industry. The industry is segmented by material into plastic, metal, glass, and many others.

Bottles and jars are the most commonly used rigid food packaging items. Jam, honey, sauces, cheese, mayonnaise, spices, oils, spreads, syrups, processed vegetables and fruits, fish, and meat are all packaged in a variety of glass and plastic jars and bottles.

Key Players

The key players in the Food Container Market include Bemis Company Inc. (U.S.), Berry Plastics Corporation (U.S.), Crown (U.S.), Graham Packaging Company (U.S.), Ball Corporation (U.S.), Constar International, UK Ltd. (U.K.), Anchor Glass, Container Corporation, Plastipak Holdings Inc. (U.S.), PRINTPACK (U.S.)

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