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The Food Containers Market Is Set To Reach $318 Billion By 2026 With The Rise Of Processed Food And Packaged Food As Per The Business Research Company’s Food Containers Global Market Report 2022
LONDON, March 15, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the food containers market, the increasing consumption of processed and packaged food is anticipated to propel the growth of the food containers market. Processed foods include various ingredients like artificial colors, flavors, or other chemical additives, which affect the health of individuals and cause obesity and other chronic diseases like diabetes and heart disease. Nowadays, because of the fast-moving lifestyle of individuals, there has been an increase in the consumption of processed and packaged foods. This high consumption creates demand for processed and packaged foods, which again allows the food processing and packaging industries to develop more products with more nutrient value and ensure minimum side effects. According to Renolon, an online publisher, In America, between June 2019 and June 2020, digital fast-food orders increased by 23%, and it’s anticipated that this could triple in 2021. Therefore, the demand for processed and packaged food is driving the demand for the food containers market.
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The global food container market size is expected to grow from $222.37 billion in 2021 to $238.36 billion in 2022 at a compound annual growth rate (CAGR) of 7.19%. The growth in the market is mainly due to the companies’ rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The food storage containers market size is expected to reach $318.96 billion in 2026 at a CAGR of 7.55%.
Technological advancements are a key trend gaining popularity in the food container market. Advanced technology has transformed the food manufacturing industry and associated businesses. Technology such as the use of recyclable packaging, smart packaging, and micro packaging increases the life span of food materials and avoids direct contamination. Recyclable materials are mostly used in the packaging industry, which helps businesses implement circular packaging practices. Furthermore, recyclable packaging technologies also cater to mono-material packaging, which avoids the use of multilayer packaging systems. Technological advancement, including recyclable packaging solutions, is a discovery of knowledge that advances technology. For instance, in 2019, Amcor, a UK-based packaging company, has launched a new AmLite Ultra Recyclable high-barrier laminate solution, which is made from the firm’s high-barrier polyolefin film. The product is eco-friendly as it can be recycled and can reduce a pack’s carbon footprint by up to 64%. It is a recyclable packaging solution with an attractive package design that keeps the food fresh.
Major players in the food container global market are Amcor plc, Plastipak Holdings, Inc., Constar International UK Ltd., Sonoco Products Company, Graham Packaging Company, Inc., Ball Corporation, Printpack Incorporated, Ardagh Group, Tetra Laval International S.A., Bemis Company, Inc., Graphic Packaging International, LLC, Anchor Glass Container Corporation, Alcan Packaging Food Americas, Caraustar Industries Incorporated, Evergreen Packaging, and PWP Industries, Inc.
The global food containers market segmentation is categorized by product into bottles and jars, cans, cups and tubs, boxes; by material into plastic, metal, glass; by application into meat products, dairy products, bakery products, fruits and vegetables.
As per TBRC’s food container market report, Asia-Pacific was the largest region in the market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food containers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Food Containers Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide food container market overviews, food container market analyze and forecast market size and growth for the whole market, food container market segments and geographies, food container market trends, food container market drivers, food container market restraints, food container market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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