Food Container Market worth USD 212.47 billion by 2030, registering a CAGR of 5.16% - Report by Market Research Future (MRFR)
/EIN News/ -- New York, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Food Storage Container Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Food Storage Container Market Research Report, Information: by Type, by Material (Plastic, Paper, Metal, Glass), by Product (Bag, Pouch, Containers), by Application (Fruits & Vegetable, Meat Product, Candy & Confection) - Forecast till 2030”, the market is projected to be worth USD 212.47 billion by 2030, registering a CAGR of 5.16% during the forecast period (2022 to 2030)., the market was valued at USD 148.31 billion in 2021.
List of the companies profiled in the Food Storage Container Market Research Report are:
- Tupperware Brands Corporation
- Amcor and Bemis company Inc.
- Newell Brands
- Hamilton Housewares Pvt. Ltd
- Lock&Lock Co. Ltd
- Ball Corporation
- Constar International Inc. (Plastipak Holdings Inc.)
- Associated Packaging Inc.
- Anchor Glass Container Corporation
- Berry Global Inc.
- Graphic Packaging International Inc.
- Crown Holdings Inc.
- Graham Packaging Company
- ACCO Brands
- Avery Dennison Corporation
- Among others.
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Market Research Future’s Review on Food Storage Container Market
The global food storage container market is a continually growing space. Food storage containers play a vital role in enhancing safety and maintaining the quality of the foods by preventing the growth of microorganisms. Therefore these are extensively used to store food items to prevent wastages, maintaining them in proper condition. The development of innovative food storage containers propels the market size. Increasing usages of food storage containers drive the market growth, creating a huge demand. Besides, changing lifestyles and increasing purchasing power of consumers boost the market size.
The growing awareness towards health and food wastage concerns, alongside the time lapses in supply chains, are other factors bolstering the market value, increasing the adoption of food storage containers. Moreover, substantial investments made to develop biodegradable and eco-friendly materials with BPA-free, microwave-safe/leakproof/stain proof, and airtight properties boost the market revenues.
The development in the Commerce industry is a key factor fostering the growth of the market. Moreover, government initiatives for promoting eco-friendly materials provide additional impetus to the growth of the global food storage container market. The demand for convenient food storage solutions enhancing the shelf life of food items increases the market demand.
Report Scope:
| Report Attribute/Metric | Details |
| Market Size | 2030: USD 212.47 billion |
| CAGR | 5.16% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Material, Product and Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Amcor and Bemis company Inc., Tupperware Brands Corporation, Newell Brands, LOCK&LOCK Co., Ltd, Hamilton Housewares Pvt. Ltd, Ball Corporation, Constar International Constar International Inc. (Plastipak Holdings, Inc.), Anchor Glass Container Corporation, Associated Packaging, Inc., Berry Global Inc., Crown Holdings, Inc., Graphic Packaging International, Inc., Graham Packaging Company, Avery Dennison Corporation, and ACCO Brands. |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers | The growing demand for sustainable packaging products |
Browse In-depth Market Research Report (188 pages) on Food Storage Container
https://www.marketresearchfuture.com/reports/food-storage-container-market-7725
COVID-19 Impacts
The onset of coronavirus affected the food storage container industry severely. Supply chain bottlenecks influenced the decisions of container manufacturers. The widespread global pandemic also put plastic manufacturing sectors on the back foot, and the food storage container market had to face severe consequences. However, the good news is that the food storage container market is rapidly returning to normal, with the gradually relaxed lockdown mandates.
Segmentations
The analysis is segmented into types, materials, products, applications, and regions. The type segment is sub-segmented into rigid and flexible. The material segment is sub-segmented into plastic, paper, metal, glass, and others. The product segment is sub-segmented into bags, pouches, containers, and others.
The application segment is sub-segmented into fruits & vegetables, meat products, candy & confection, and others. By regions, the market is bifurcated into the Asia Pacific, Americas, Europe, MEA, and rest-of-the-world.
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Regional Analysis
The Asia Pacific region dominates the global food storage container market. The fast-moving consumer goods (FMCG) sector drives the market growth, consuming a vast amount of food storage containers. Besides, the food contact material regulations set by the governments in China, Australia, Malaysia, Singapore, Japan, and India, boost the market size.
Moreover, government restrictions imposed on importing recyclable plastics from other countries have opened lucrative opportunities for the local food packaging manufacturers, meeting the requirements for recycled plastics from the food industry over the forecast period.
Furthermore, rapidly spreading awareness about growing environmental concerns and the emergence of recycled material and eco-friendly techniques of manufacturing food storage containers accelerates the market shares.
Competitive Landscape
The global market of food storage containers appears highly competitive, characterized by the presence of several notable players. These players incorporate strategies, such as mergers & acquisitions, collaboration, expansion, and technology/product launch to gain a larger competitive advantage.
Recently on Oct. 29, 2021, Rubbermaid, a leading provider of excellent organizational products, launched its food storage containers on Amazon. Rubbermaid's crystal-clear BPA-free plastic box set is third on Amazon's list of best-selling food containers. The brand promises the containers with airtight seal and latch closures lids offer 100% leakproof features.
Segmentation of Market covered in the research:
Food Storage Container Market Research Report, Information: by Type, by Material (Plastic, Paper, Metal, Glass), by Product (Bag, Pouch, Containers), by Application (Fruits & Vegetable, Meat Product, Candy & Confection) - Forecast till 2030
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