Food storage containers are used to store food items so as to prevent wastages, maintaining them in proper condition. These containers play a vital role in enhancing safety and maintaining the quality of the foods by preventing the growth of microorganisms.
Recognizing the kind of traction, this market is witnessing currently, Market Research Future (MRFR) in its recently published study analysis asserts that the global food storage container market will witness significant growth by 2023, registering a CAGR over 4.19% during the forecast period (2016-2023).
They are handy when preparing for emergencies have proven to be far more useful for protecting foods & fresh produce for a while. Resultantly, these containers are increasingly used for packing lunch or snacks to school, work or picnics as well as to store grains.
Increasing usages are driving the food storage containers market, creating a huge demand. Moreover, the substantial investment made in the development of biodegradable and eco-friendly materials having properties such as BPA-free, microwave-safe/leakproof/stainproof, and airtight quality escalates the market on the global platform.
Versatile, economical, and lightweight, food storage container materials are evaluated for their quality to withstand for an extended period. The demand for convenient food storage with longer shelf life has increased the demand for this type of packaging. Resultantly, the Food Storage Container market enjoys great traction worldwide.
Additional factors that are substantiating the growth of the market include rising population and improving economic conditions that increase consumer’s purchasing power. The development in the Commerce industry is a key factor fostering the growth of the market. Moreover, government initiatives for promoting eco-friendly materials are providing additional impetus to the growth of global food storage container market.
Global Food Storage Container Market – Geographical Analysis
The Asia Pacific, heading with the fast moving consumer goods (FMCG) sector accounts for the leading region in the global food storage container market. In 2017, the market had valued at USD 92,084.6 MN. Factors such as the high demand in the FMCG sector alongside the food contact material regulations set by the governments in various countries, such as Australia, China, Japan, India, Malaysia, and Singapore, are fostering the regional market.
China holds the largest share in the regional food storage container market, owing to the regulations directed by the government. Moreover, government restrictions imposed on the import of recyclable plastics from other countries, in 2017, have opened lucrative opportunities for the local food packaging manufacturers, meeting the requirements for the recycled plastics from food industry over the forecast period.
Factors such as rapidly spreading awareness about global warming and growing environmental concerns along with the emergence of recycled material and eco-friendly techniques of manufacturing food storage container are substantiating the growth in the regional market. Furthermore, the growing e-commerce industry in the region, APAC is expected to register a fabulous CAGR during the forecast period.
The global food storage container market in the European region stands second in terms of market size, holding a substantial share, globally. Higher disposable income is fostering the market growth in the region, driving significant demand for efficient packaging solutions. Furthermore, the burgeoning e-commerce industry and huge demand for online shopping is fueling the market growth. The region is further estimated to grow at a significant CAGR during the review period.
The increasing usages of bioplastic materials alongside the growing demand for sustainable packaging products among consumers are acting as tailwinds pushing up the growth of the regional market, witnessing the demand for eco-friendly storing and packaging solutions in Europe.
North America is another promising region for the market for the food storage container. Changing lifestyles and increasing trend of nuclear families alongside the convenience of storing drives the growth of the food storage container market in the region. Resultantly, the food storage container market in the region is growing rapidly.
Global Food Storage Container Market – Competitive Analysis
Highly competitive, the food storage container market appears to be fragmented due to the presence of several big & small market players. These players form a competitive landscape by adopting strategic trends of business expansion in the emerging markets.
Manufacturers rely on innovation in order to survive and create new markets. Therefore, they keep themselves abreast of the new technological developments and latest consumer trends by developing human capital. They continually invest in the new age developers for the latest technologies which can increase productivity and add value.
Major Players:
The key players leading the food storage container market include Tupperware Brands Corporation, Amcor and Bemis company Inc., Newell Brands, Hamilton Housewares Pvt. Ltd, Lock&Lock Co., Ltd, Ball Corporation, Constar International Inc. (Plastipak Holdings, Inc.), Associated Packaging, Inc., Anchor Glass Container Corporation, Berry Global Inc., Graphic Packaging International, Inc., Crown Holdings, Inc., Graham Packaging Company, ACCO Brands, and Avery Dennison Corporation among others.
Industry/ Innovation /Related News:
March 13, 2018 – Petmate (the US), one of the leading players in pet’s products announced the acquisition of GAMMA2 (the US, the leading manufacturer of airtight containers primarily used to store dry pet foods.
GAMMA2 is best known for the ground-breaking Vittles Vault®. The acquisition of the industry-leading storage containers can allow Petmate to deliver an ever more impactful range of innovative products, adding to their goal to provide a one-stop shop for all pet product needs.
Global Food Storage Container Market Research Report, Information: by Type, by Material (Plastic, Paper, Metal, Glass), by Product (Bag, Pouch, Containers), by Application (Fruits & Vegetable, Meat Product, Candy & Confection), Region - Forecast till 2023Food storage containers are used to store food items so as to prevent wastages, maintaining them in proper condition.
These containers play a vital role in enhancing safety and maintaining the quality of the foods by preventing the growth of microorganisms.They are handy when preparing for emergencies have proven to be far more useful for protecting foods & fresh produce for a while.
Moreover, the substantial investment made in the development of biodegradable and eco-friendly materials having properties such as BPA-free, microwave-safe/leakproof/stainproof, and airtight quality escalates the market on the global platform.Recognizing the kind of traction, this market is witnessing currently, Market Research Future (MRFR) in its recently published study analysis asserts that the global food storage container market will witness significant growth by 2023, registering a CAGR over 4.19% during the forecast period (2016-2023).Versatile, economical, and lightweight, food storage container materials are evaluated for their quality to withstand for an extended period.
Resultantly, the Food Storage Container market enjoys great traction worldwide.Additional factors that are substantiating the growth of the market include rising population and improving economic conditions that increase consumer’s purchasing power.
Moreover, government initiatives for promoting eco-friendly materials are providing additional impetus to the growth of global food storage container market.Global Food Storage Container Market – Geographical AnalysisThe Asia Pacific, heading with the fast moving consumer goods (FMCG) sector accounts for the leading region in the global food storage container market.
Factors such as the high demand in the FMCG sector alongside the food contact material regulations set by the governments in various countries, such as Australia, China, Japan, India, Malaysia, and Singapore, are fostering the regional market.China holds the largest share in the regional food storage container market, owing to the regulations directed by the government.
Market Synopsis The data experts at Market Research Future Reports (MRFR), the Global Food Storage Container Market are projected to thrive at a CAGR of 4.19% during the assessment period.
Besides, the surging urbanization and the population has resulted in an upgraded standard of living, resulting in changed food habits of the consumer, which has actuated the global storage container market size.
Furthermore, the work constraints have resulted in increased usage and demand for stored food.
In addition, the increased demand for perishable products such as dairy products and meat has posed several opportunities for expansion.Moreover, the stern rules executed by the government towards protecting the environment and monitoring greenhouse emissions are projected to be another factor leading to market expansion.
Besides, due to the pandemic, various companies in the market have temporarily shut their daily operations.
The halt caused in business operations is estimated to bring a considerable impact on market revenue.
