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Food Container Market Growth Accelerated by Sustainable Packaging Materials

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Lucy Kart
Food Container Market Growth Accelerated by Sustainable Packaging Materials

Food containers play a vital role in maintaining the quality and freshness of packaged food products during transportation and storage. Increasing demand for packaged food from the working population, launch of eco-friendly food containers made from sustainable packaging materials such as paperboard, bioplastics, and aluminum have accelerated the growth of this market in recent years. 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 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Sustainable packaging materials are one of the major trends being observed in the food container market. Various food container manufacturers are focusing on developing innovative and eco-friendly packaging solutions made from renewable and biodegradable materials like paperboard, bioplastics, etc. to cater to the rising demand for sustainable packaging from environmentally conscious consumers and regulatory pressures on single-use plastics. For example, Tetra Pak is providing paper-based packaging solutions for food and beverage products. Emergence of bio-based and biodegradable materials as a substitute for conventional plastics is expected to drive the demand for sustainable food containers over the forecast period.

Segment Analysis

The global food container market is dominated by the rigid plastic containers segment which is expected to account for over 40% of the market share in 2024. Rigid plastic containers are versatile, durable, lightweight and cost-effective packaging solution for food items. They can withstand varied temperatures, shocks and impacts during transit and storage which makes them suitable for packaging of frozen food, dairy products and ready-to-eat meals.

Key Takeaways

Global Food Container Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising on-the-go consumption and demand for convenient packaging solutions.

Regional analysis: North America currently dominates the global food container market accounting for over 30% share in 2024. The high usage of packaged and convenience food in countries like U.S. and Canada along with stringent food safety standards drives high adoption of various food containers in the region. Asia Pacific is expected to be the fastest growing regional market projected to expand at over 7% CAGR during the forecast period. Rising disposable income, growing middle class population and easy availability of packaged food products are some of the key factors fueling the market growth in Asia Pacific.

Key players operating in the food container market are DJO Global, Inc., BSN medical (now part of Essity), Smith & Nephew plc, medi GmbH & Co. KG, SIGVARIS Group. These players are focusing on new product launches and expansion in emerging markets to increase their market share.


Get More Insights on this Topic- https://www.marketwebjournal.com/food-container-market-demand-size-share-analysis/ 

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