Food Container Market Overview
Market Research Future (MRFR) states that the rising demand for perishable products like meat and dairy products could help the global food containers market achieve a robust CAGR during the forecast period (2019-2023).
Growth Boosters and Key Barriers
Packaged food has emerged as one of the most profitable segments in the global food and beverage industry in recent years. This has triggered large-scale developments in the food container market. The constantly widening array of product varieties available in the market and their expanding scope of applications present a host of growth opportunities to companies that operate in the food packaging industry.
The food container market will be largely benefited from the significant surge in food output across the globe. The highly sophisticated consumer today demands convenient packaging, which is easy to store, carry and can be readily consumed. Therefore, manufacturers are sensing the opportunities and striving to keep pace with the continuously evolving consumer preferences.
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Accelerated number of women in workforces, rising number of families opting for packaged foods, and a considerable surge in double-income families has done wonders for the food containers market. Some additional crucial factors that promote market growth include the expanding urban population combined with the hike in the number of single-person households.
Leading Vendors
The players leading the worldwide food container market are
- Anchor Glass Container Corporation (US)
- Crown (US)
- Plastipak Holdings Inc. (US)
- Graham Packaging Company (US)
- Ball Corporation (US)
- Bemis Company, Inc. (US)
- Berry Plastics Corporation (US)
- Constar International UK Ltd. (UK)
- PRINTPACK (US)
- Graphic Packaging International, LLC (US), to name a few.
Market Segmentation
The worldwide food container market has been segmented with respect to type, material, application and product.
Type-wise, the market is considered for rigid and flexible packaging. Rigid containers find extensive use in the food & beverage (F&B) industry as they facilitate convenience in handling food products and reduce risk of damage. Rigid packaging products boast of high impact strength, high barrier properties as well as high stiffness, which augments their demand in the F&B sector.
Depending on material, the market can be broken down to paper & paper boards, plastic, glass, metal, and others. Plastic covers the highest portion of the market, followed by paper & paper boards. Glass storage containers are generally available in frosted, clear and colored varieties. These enjoy immense demand owing to their ability to keep the food fresh for a longer time compared to other types of food containers.
In terms of application, the market caters to dairy products, fruits & vegetables, meat products, frozen foods, and baked and confectionary. In 2017, the dairy and frozen meat segment was leading the market with the highest share and could continue dominating during the review period. Frozen food segment could come give tough competition to the dairy and frozen meat segment in the coming years.
Product-based segments are pouches, bags, containers, and others. Bags and pouches will remain the most significant segment owing to their benefits that include portability, convenience, and lightweight. Pouches could make inroads into rigid packaging applications on account of performance and cost advantages.
Regional Insight
The primary markets for food container across the globe are Asia Pacific (APAC), North America, Europe, and the rest of the world (RoW).
Food container market in North America is greatly influenced by the expanding customer base and the high number of women workforces. Soaring demand for convenient food packaging across the region also benefits the market to a great extent. Evolving lifestyle along with rising innovation in production of convenience food products, adds to the market strength.
Technological innovation combined with higher-end formats could stimulate growth of the food container market in Europe. The region is expected to be the second-leading market. The market position in the region is projected to elevate in the upcoming years on account of presence of several food chains as well as eateries that engage in food packaging.
APAC is expected to gain the fastest in the worldwide good container market. The product demand in the region will be supported by the consistently growing middle-class population coupled with the surge in two-income working households. Higher sophistication owing to rising interest in Western-style packaged food in India and China will be backed by the overarching population shift to urban areas. These urban areas consist of mainly large supermarkets that sell packaged food items, slowly replacing traditional rural vendors that offer raw and minimally packaged items.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain Of Global Food Container Market
Continues….
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