The global food container market size is expected to be worth around US$ 210.9 billion by 2030, according to a new report by Vision Research Reports.
The global food container market size was valued at US$ 150.6 billion in 2020 and is anticipated to grow at a CAGR of 6.2% during forecast period 2021 to 2030.
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Food Container Market (By Material: Plastic, Metal, Glass, Others; By Product: Bottles & Jars, Cans, Cups & Tubs, Boxes, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||USD 210.9 billion by 2030|
|Growth Rate||CAGR of 6.2% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Material, Product|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Amcor plc; Silgan Holdings, Inc.; Ardagh Group; Berry Plastics Corp.; Plastipak Holdings, Inc.; Sonoco Products Company; Graham Packaging Company, Inc.; Weener Plastics; Ball Corp.; Tetra Pak|
The global market is predominantly driven by the rapid growth in the food processing industry mainly in the emerging markets. In addition, the rising need to reduce carbon footprints and increasing adoption of bioplastics in the packaging industry are driving the market. Moreover, innovation and new product developments are attracting food manufacturers, which is expected to augment the market growth.
The market growth is expected to be driven by the growing demand for packaged food products across the globe. Moreover, the convenience offered by these containers in packaging, carrying, and transporting food products is another major factor driving the product demand in the global market. Packaged foods primarily include Ready-To-Eat (RTE) meals, RTE convenience foods, frozen meals, cake mixes, snacks, desserts, among others.
By Material Analysis
The plastic segment held the market in 2020 with a revenue share of over 45%. On the basis of material, the market has been divided into plastic, metal, glass, and others. Plastic is the most extensively used material in the packaging market owing to its several advantages over other alternatives. Plastic is lighter than other materials and is incredibly energy efficient to manufacture. Moreover, it is quite inexpensive compared to other materials, such as metals and glass.
According to the American Chemistry Council, just two pounds of plastic resins are required to package 10 gallons of drinks. Whereas, eight pounds of steel, three pounds of aluminum, and approximately forty pounds of glass are required to deliver the same quantity of drink. Various types of plastic resins, such as HDPE, LDPE, PET, PP, and polystyrene, are used to make plastic containers.
By Product Analysis
The bottles & jars product segment held the market in 2020 with a revenue share of over 29%. Bottles and jars are the most widely used products in the rigid food packaging segment. Various types of foods, such as jam, honey, sauces, cheese, mayonnaise, spices, oil, spreads, syrups, processed vegetables/fruits, fish, and meat, are packed in various types of jars and bottles made of glass and plastics.
The cans product segment is estimated to register the highest CAGR of more than 4.5% from 2021 to 2030 due to the rising demand for various canned foods and beverages. The cups and tubs segment is also expected to register a significant CAGR over the forecast period.
By Regional Analysis
Asia Pacific held the global market in 2020 accounting for a revenue share of over 37% and is estimated to be the fastest-growing regional marker from 2021 to 2030. This can be credited to the rapidly growing food processing industry in the region due to strong government support. The countries, such as India, China, and Japan, are the major contributors to the growth of the APAC regional market.
North America is projected to grow at a steady CAGR of 3.05% over the forecast period. This growth can be attributed to the increasing demand for packaged and convenience foods among the working population. Moreover, increasing demand for canned foods, such as canned fish and meat, in the U.S. is accelerating the market growth in the region.
- Amcor plc
- Silgan Holdings, Inc.
- Ardagh Group
- Berry Plastics Corp.
- Plastipak Holdings, Inc.
- Sonoco Products Company
- Graham Packaging Company, Inc.
- Weener Plastics
- Ball Corp.
- Tetra Pak
- Bottles & Jars
- Cups & Tubs
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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