Food Container Market Is Predominantly Driven by The Rapid Growth in The Food Processing Industry

Food Container Industry Overview

The global food container market size is anticipated to reach USD 201.9 billion by 2028, registering a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. The global market is predominantly driven by the rapid growth in the food processing industry mainly in the emerging markets. In addition, the rising need to reduce carbon footprints and increasing adoption of bioplastics in the packaging industry are driving the market. Moreover, innovation and new product developments are attracting food manufacturers, which is expected to augment the market growth.

For instance, in 2020, Tetra Pak and Dabur formed a partnership to launch low-calorie juice products in a new packaging format i.e., bare paperboard with wood fiber packaging for a natural look. Due to the COVID-19 pandemic, the market witnessed a decline in demand in 2020. Raw material shortage due to supply chain disruption resulted in the reduced production of food containers. Various 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.

Food Container Market Segmentation

Grand View Research has segmented the global food container market on the basis of material, product, and region:

Based on the Material Insights, the market is segmented into Plastic, Metal, Glass, and Others

• The plastic segment led the market in 2020 with a revenue share of over 46%. On the basis of material, the market has been divided into plastic, metal, glass, and others.
• Plastic is lighter than other materials and is incredibly energy efficient to manufacture. Moreover, it is quite inexpensive compared to other materials, such as metals and glass.

Based on the Product Insights, the market is segmented into Bottles & Jars, Cans, Cups & Tubs, Boxes, and Others

• The bottles & jars product segment led the market in 2020 with a revenue share of over 28%. Bottles and jars are the most widely used products in the rigid food packaging
• The cans product segment is estimated to register the fastest CAGR of more than 4.5% from 2021 to 2028 due to the rising demand for various canned foods and beverages.
• The cups and tubs segment is also expected to register a significant CAGR over the forecast period.

Food Container Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

Key Companies Profile & Market Share Insights

The global industry is highly competitive due to the presence of global, regional, and local manufacturers. Manufacturers in the market offer a wide range of products in different sizes, shapes, and formats. The competition among players is based on numerous parameters including corporate reputation and product offerings, price, quality, recyclability, & sustainability. New product launches, innovations, distribution network expansions, joint ventures, and mergers & acquisitions are some of the key strategies adopted by most of the players to strengthen their position in the market and gain a higher share.

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.