by Food containers help preserve food freshness and keep food safe from external contamination. Food containers come in a variety of materials like paperboard, plastic, and glass. Various food products like snacks, beverages, dairy products are packed in different types of food containers to extend the shelf life.
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:
Ready-to-eat food and beverages in packaged containers save preparation time for consumers. The on-the-go consumption trend has increased the demand for small and portable food packaging like snack packs, small beverage bottles and cans. Food and packaging companies are innovating packaging designs and materials to make food containers more portable and suitable for busy lifestyles. The demand from food delivery and takeaway service has also contributed to the growth of small and portable food packaging.
Segment Analysis
The global food container market is primarily segmented into rigid containers and flexible containers. Rigid containers dominates the market and accounts for nearly three-fourth of the overall market share. The dominance of rigid containers can be attributed to their ability to retain freshness and prevent spoilage over longer durations. The rigid containers segment is further sub-segmented into bottles & jars, cans, boxes, trays, and tanks & drum. Bottles & jars represent the largest sub-segment owing to their widespread application in packaging of beverages, sauces, oils, and other food items.
Key Takeaways
The Global Food Container Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to surpass a valuation of US$ 291.98 Bn by 2030, expanding at a CAGR of 6.3% during the forecast period.
Regional analysis
North America holds the leading share in the global market and is expected to retain its dominance over the forecast period. The growth in the regional market can be attributed to increasing demand for convenient and ready-to-eat food items among consumers. Asia Pacific is envisioned to emerge as the fastest growing market for food containers, owing to rapid industrialization and changing lifestyle and eating patterns of the expanding middle-class population in emerging economies like China and India.
Key players related content
Key players operating in the food container market are DJO Global, Inc., BSN medical, Red Wing Shoe Co., Drew Shoe Co., and New Balance Athletics. DJO Global, Inc. is one of the foremost manufacturers of rigid food containers such as bottles, jars, cans, boxes and trays. The company offers an extensive range of food containers catering to various applications in the beverage, dairy, sauces, and condiments segments.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
