February 22, 2024

Food Container Market Poised for Growth Accelerated by Increasing On-the-Go Consumption

Food containers are used to store prepared food items and meals with quality and freshness. Containers made from materials like glass, plastic, aluminum and paper provide durability, reliability and heat resistance keeping food safe from contamination. With changing lifestyle and rising disposable income, consumption of ready-to-eat food and beverages on-the-go has grown significantly. This has propelled the demand for innovative and portable food containers.

The global Food Container Market is estimated to be valued at US$ 168.83 Bn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

 Foodservice packaging producers are developing lightweight, portable and microwavable containers catering to consumer needs. Materials like paperboard are being used to manufacture eco-friendly food containers reducing plastic waste. Manufacturers focus on creating containers with printing technology allowing interactive communication with customers. Development of tamper-proof and leak-proof containers ensuring food safety has also picked up as a key trend in the market.

Segment Analysis
The food container market can be segmented into plastic containers, metal containers, and glass containers. The plastic containers segment dominated the market in 2023 and is expected to continue its dominance during the forecast period. This is because plastic containers are lightweight, shatterproof, durable and provide an effective barrier against moisture, gas, and UV light. They help preserve food quality and freshness for an extended period. Plastic food containers are preferred for packaging various ready-to-eat meals and snacks.

Key Takeaways

The Food Container Market Size is expected to witness high growth during 2023-2030. North America dominated the food container market in 2023 driven by high consumption of packaged and processed food. Growth in the region is anticipated to be led by increasing demand for convenient food packaging solutions supporting busy lifestyles.

Regional analysis – North America held the largest share of the global food container market in 2023 and is expected to grow at a CAGR of 4.2% during the forecast period. Factors such as changing consumer preferences, more emphasis on convenience, and rising disposable income have resulted in increased demand for packaged food in the region. The U.S. contributes significantly to the North America food container market attributed to growing instances of nuclear families, dual-income households, and on-the-go consumption trends.

Key players analysis – Key players operating in the food container market are Amcor plc, Anchor Glass Container Corporation, Ball Corporation, Berry Global Inc., Crown Holdings, Inc., Graham Packaging Company, Graphic Packaging International LLC, Plastipak Holdings, Inc., and Printpack. Amcor plc is one of the leading players in the market and offers a wide range of rigid plastic and glass food packaging containers for dairy, deli, home meal replacements and fresh cut produce applications.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it