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Plastics Are Fastest Growing Segment Fueling The Growth Of Food Container Market

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Leena Shedmake
Plastics Are Fastest Growing Segment Fueling The Growth Of Food Container Market

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 Overview:


The food container market consists of packaging materials such as plastic, paper, aluminum and glass that are used for packaging of various food products. Plastic containers are widely used due to their lightweight and low cost along with ability to retain food freshness.



Market Key Trends:


One of the key trends in the food container market is growing demand for sustainable and eco-friendly packaging solutions. With increasing concerns of plastic waste, manufacturers are focusing on developing bio-based and biodegradable plastic food containers. For instance, companies are utilizing polylactic acid (PLA) made from renewable resources like corn for production of plastic food containers. This reduces dependency on fossil fuels for plastic production and offers a sustainable packaging solution.


Segment Analysis


The global food container market is segmented by material type, product type, application, and geography. Based on material type, the market is divided into plastic, metal, glass, and paperboard. Plastic accounts for the largest market share in the material type segment due to its low cost and lightweight properties. Plastic food containers are widely used for packaging frozen food, dairy products, snacks, and beverages.



Key Takeaways


The Global Food Container Market Demand is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing demand for convenient and sustainable packaging solutions.


Regional analysis

North America dominates the global food container market and is expected to continue its dominance over the forecast period. Asia Pacific exhibits the fastest growth rate due to rising incomes and growing middle class in emerging countries such as China and India.


Market size

The global food container market size was valued at US$ 168.83 Bn in 2023 and is expected to reach US$ 239.12 Bn by 2030.


Key players

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 holds the leading position in the market owing to its diverse product portfolio and global presence.

 

Read More - https://www.pressreleasebulletin.com/food-container-market-share-size-analysis-growth-and-forecast/ 

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