Food Storage Container Market Size 2022 Global Industry Revenue, Business Growth, Demand and Applications Market Research Report to 2030

Market Synopsis   

The data experts at Market Research Future Reports (MRFR), the Global Food Storage Container Market is projected to thrive at a CAGR of 4.19% during the assessment period. The global food storage container market is likely to hold substantial value. The increasing concern regarding the environment is anticipated to be an important factor driving the global food storage container market 2022.

Besides, the surging urbanization and the population have resulted in an upgraded standard of living, resulting in changed food habits of the consumer, which has actuated the global storage container market size. Furthermore, the work constraints have resulted in increased usage and demand for stored food. In addition, the increased demand for perishable products such as dairy products and meat has posed several opportunities for expansion. Moreover, the stern rules executed by the government towards protecting the environment and monitoring greenhouse emissions is projected to be another factor leading to market expansion.

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However, factors such as changing customer preferences are likely to impede market growth. Besides, due to the pandemic, various companies in the market have temporarily shut their daily operations. The halt caused in business operations is estimated to bring a considerable impact on market revenue. It is estimated that it will take some time to recover from the losses incurred during the observation of lockdown. We will provide an impact analysis report on COVID-19. 

Packaged Foods to Drive Market Demand

The convenience offered by food storage containers in the transportation of processed and ready-to-eat foods and food mixes can drive the market demand significantly. Huge demand for them can induce demand for suitable packaging solutions. The demand for packaged foods owing to their categorization as essential foods has led to a flood of requests on online channels. Strong supply chains of food brands and sustained demand for food containers can bode well for the market. Long shelf life of containers and prevention of spoilage of foods can lead to innovation of products among manufacturers.

Raw Material Shortage to Hamper Market Growth

The huge costs of raw materials as well as fluctuations in prices of crude oil can hamper market growth significantly. Awareness of sustainability and environmental issues as well as low consumption of packaged and processed foods can affect market growth.

Competitive Analysis

Amcor and Bemis Company Inc., Ball Corporation, Tupperware Brands Corporation, Crown Holdings, Inc., ACCO Brands, Graphic Packaging International, Inc., Graham Packaging Company, Associated Packaging, Inc., Avery Dennison Corporation, Hamilton Housewares Pvt. Ltd, Anchor Glass Container Corporation, Berry Global Inc., LOCK&LOCK Co., Ltd, Newell Brands, and Constar International (Plastipak Holdings, Inc.) are prominent players of the global food storage container market. Launch of new products and development of biodegradable products are on the agenda of players.

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Segmentation Analysis

Flexible Packaging to Gain Market Demand

By type, the market is divided into flexible and rigid. Flexible packaging is expected to command a huge demand share over the forecast period owing to replacement of rigid packaging solutions.

Plastic Material to Dominate Market Share

By material, it is segmented into plastic, glass, metal, and paper & paperboard. The plastic material segment is expected to be leading over the forecast period owing to being easily molded into containers, jugs, and films. Its inexpensive and lightweight nature compared to glass and metal can drive segment growth.

Containers to Lead in Global Market

Containers can capture a large market share owing to its use in storage of fruits and vegetables, frozen foods, dairy items, and other processed foods.

Candy and Confections to Biggest Market Application 

Candy and confections are likely to be the biggest market application of the food storage container industry due to growing demand for chocolate and availability of confectionery in various sizes.

Regional Analysis

APAC to Display Highest CAGR

Asia-Pacific (APAC) accounted for the largest market share in 2017 and was valued at USD 92,084.6 million. It is expected to witness steady growth owing to the high demand for fast-moving consumer goods (FMCG) and food contact material regulations set by governments in various countries of China, Japan, India, Australia, Malaysia, and Singapore, are anticipated to increase the demand for food storage containers during the forecast period.

In 2017, China held the largest share in the global food storage containers market, owing to regulations mandated by the government for reducing food packaging waste. Moreover, in 2017, the ban on imports of recyclable plastics from other countries, which is anticipated to open lucrative opportunities for local food packaging manufacturers to meet the requirements for recycled plastics.

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Industry Update

The VS2100 Vacuum Sealer by FoodSaver for storing foods in 8- and 11-inch bags has been designed to keep food fresh.

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