Food Container Industry Overview
The global food container market size was valued at USD 145.6 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.2% from 2021 to 2028.
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 industry. Packaged foods primarily include Ready-To-Eat (RTE) meals, RTE convenience foods, frozen meals, cake mixes, snacks, and desserts, among others. The growing demand for these products is expected to force manufacturers to enhance production capacities, which, in turn, will fuel the demand for food containers over the forecast period. Due to the COVID-19 pandemic, the market witnessed sluggish growth in 2020.
Raw material shortage due to supply chain disruption resulted in the reduced production of food containers. Several major players witnessed a decline in their annual revenue in 2020. For instance, the annual turnover of Amcor plc reduced by approximately 6% in 2020 compared to 2019.
Gather more insights about the market drivers, restrains and growth of the Global Food Container Market
As the food items come under the essential products, the demand for the packaged food items has increased during the pandemic. Moreover, with the deep market penetration and the strong supply chain of established food brands in several economies, the demand for food containers has not witnessed a downfall. However, the turnover of various big companies, such as Amcor plc, has declined in 2020 due to supply chain disruptions and transportation restrictions.
Food containers help in increasing the shelf life of products by preserving and preventing food from deterioration. Increasing consumer awareness regarding sustainability and environmental issues is expected to influence the market. Moreover, the increasing focus of manufacturers on innovation and aesthetics of the food containers is also significantly attracting food manufacturers to offer their products in different innovative food packaging, which, in turn, is expected to fuel the market growth in the near future.
Browse through Grand View Research's Food Safety & Processing Industry Research Reports.
• Hot Food Processing Equipment Market: The global hot food processing equipment market size was valued at USD 20.82 billion in 2021 and is expected to exhibit a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030. The rising demand for fast food and packaged food is expected to prompt manufacturers to expand their production capabilities, thereby augmenting the demand for hot food processing equipment during the forecast period.
• Food Contract Manufacturing Market: The global food contract manufacturing market was valued at USD 120.96 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.5% during the forecast period. Increasing demand for outsourcing food manufacturing is expected to have a positive impact on the industry growth.
Food Container Market Segmentation
Grand View Research has segmented the global food container market on the basis of material, product, and region:
Food Container Material Outlook (Revenue, USD Million, 2017 - 2028)
• Plastic
• Metal
• Glass
• Others
Food Container Product Outlook (Revenue, USD Million, 2017 - 2028)
• Bottles & Jars
• Cans
• Cups & Tubs
• Boxes
• Others
Food Container Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa
Key Companies profiled:
Some prominent players in the Global Food Container Market include
• 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
Order a free sample PDF of the Food Container Market Intelligence Study, published by Grand View Research.
