The global food container market was valued at US$ 154.9 billion in 2021, according to the Global Food Container Market report, by Product (Bottles & Jars, Cans, Cups & Tubs, Boxes, and Others), by Material (Plastic, Glass, Metal, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global food container market is expected to surpass US$ 228.8 Billion by 2030 and exhibit a CAGR of 4.4% during the forecast period (2022-2030). Food containers help extend product shelf life by preserving food and preventing food deterioration. The market growth is expected to be influenced by the rising consumer awareness of sustainability and environmental issues.
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https://www.coherentmarketinsights.com/market-insight/food-container-market-5108
Browse 22 market data tables* and 18 figures* on "Global Food Container Market” - Forecast to 2030.
Key Trends and Analysis of the Global Food Container Market:
- Asia Pacific food container market was valued at US$ 59.1 billion in 2021 and is expected to grow at a significant rate of 4.9% during the forecast period, owing to the increasing population in Asia Pacific countries such as in India and china
- Among product, the bottles & jars segment is expected to hold a dominant position in the global food container market over the forecast period. Liquids and fluids are stored in big quantities in bottles and jars. Perishable items are also kept in bottles and jars for long periods of time.
Key Takeaways of the Market:
- According to European Commission, About 100 million tons of food is wasted annually in the Europe which accounts for almost 30% of the agricultural supply and has a significant impact on the environment. For instance, according to FAO's (The Food and Agriculture Organization) report is the first study to focus on the environmental impacts of food wastage. The global volume of food wastage is estimated at 1.6 billion tons of "primary product equivalents." Total food wastage for the edible part of this amounts to 1.3 billion tone.
- Owing to the rising demand for environmental food containers, major food packaging companies are launching new and improved food packaging in the market. For instance, in December 2021, Syntegon (a Germany-based packaging company) launched paper-based food packaging as part of EIT Food (European Institute of Innovation and Technology) project, ‘PACK4SENSE’. With the help of this project, the company aims to pack sensitive products with high barrier properties into more sustainable materials. Syntegon uses special paper that is especially stretchable and tear-resistant owing to its long cellulose fibers, allowing the production of sealed bowls and cups up to 30 mm deep.
- Major players operating in the global food container market include Amcor plc, Anchor Glass Container Corporation, Ball Corporation, Berry Global Inc., Crown Holdings, Inc., Graham Packaging Company, Graphic Packaging International LLC, Graphic Packaging International LLC, Plastipak Holdings, Inc,. and Printpack
Global Food Container Market - Impact of Coronavirus (Covid-19) Pandemic
The global economy has been affected by the coronavirus pandemic, as governments across the globe imposed lockdown measures to curb the movement of people. Due to these lockdowns, industrial activities halted and international travel was ceased. These measures took a significant toll on almost all industrial sectors such packaging and beverages industry etc. Factories and manufacturing facilities also faced supply chain breakdowns and labor shortages.
The COVID-19 pandemic has created disruptions in the supply chain of food & beverages. Many countries such as china, U.S etc. are imposed lockdowns, which affected the overall food & beverages industry. With the food & beverages industry affected, demand scenarios for food containers in various countries were halted during the lockdown. Many food processing plants reported higher rates of labor absence. For instance, according to OECD’s (Organization for Economic Co-operation and Development) report “Food Supply Chains and COVID-19: Impacts and Policy Lessons” published in June 2020, staff availability was reduced by up to 30% during the pandemic in French meat processing facilities in the regions of the country worst hit by the COVID-19.