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The US food storage container market size is estimated to grow at a CAGR of 3.21% between 2022 and 2027. The market size is forecast to increase by USD 2.17 billion. The market expansion hinges on various factors, including the increasing favorability towards robust and lightweight containers, the extension of food product shelf life to prevent cross-contamination, and the rising need for storage containers that are resistant to odor and stains.
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The ongoing Russia Ukraine war has affected the supply chain of diversified metals and mining. With the high fluctuation in prices and limited supply of products, the demand for diversified metals and mining is expected to decline moderately in 2022. In addition, Europe is highly dependent on Russian energy sources, such as metals, coal, and crude oil. The ongoing sanctions on Russia have destabilized the demand supply curve for diversified metals and mining that are used in the abovementioned industries.
Growing preference for durable and lightweight containers is the key factor driving the growth of the market. An increase in the number of supermarkets and hypermarkets offering fresh produce will have a positive impact on market growth. Therefore, the top market players strive to maintain the brand image and value of their products. In addition, the growth of organized retail is changing consumer shopping behavior. As a result, market players are developing new formats, sizes, and shapes to meet enduser needs.
Furthermore, some players also offer polycarbonate containers that are colored to allow users to see what's inside. Manufacturers seek to provide the hospitality industry with innovative, durable, and quality products. Hence, a growing preference for durable and lightweight products will drive the growth of the market during the forecast period.
An increase in demand for glass containers is the primary trend in the market. Glass products are more durable and can store food longer than other food items. Glass items are also used to store food at room temperature, keeping food fresh longer. Many end users prefer specially designed glass vessels for freezing and reheating.
Moreover, glass products are resistant to stains and peeling, and the food stored inside does not retain the taste or smell. Improved shape glass items are manufactured to be shatterresistant, but endusers should be careful when handling such containers. Therefore, increasing demand for glass products will drive the growth of the market during the forecast period.
Environmental issues and regulatory requirements is a challenge that affects the growth of the market. Most endusers prefer plastic food items mainly due to their low cost and high durability. However, given the current US food storage products market scenario, many food service operators face significant costs in addressing environmental concerns related to harmful chemicals found in plastics.
Besides, the polymer molecules present in these plastic items migrate into the food. Polymer molecules affect the quality of food, so eating food causes serious damage. In some cases, plastics can decompose, releasing monomers and other chemicals that can be a health hazard. Therefore, environmental issues and regulatory requirements will impede the growth of the market during the forecast period.
The round segment is estimated to witness significant growth during the forecast period. Round containers are believed to take up more space than rectangular or square containers. Depending on the food, customers choose different sizes of the containers. Some commercial food service endusers choose storage containers that can hold more than 20 gallons of food. Choosing the right products is important for foodservice operators.
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The round segment was the largest segment and was valued at USD 4,830.99 million in 2017. Many of the major market players offer items designed for the hospitality industry. Companies try to use the highest quality materials. These are made from FDAapproved plastic resin. Some companies also offer curved handles molded products. Round products are also used to store sauces and other items that need to be stirred before eating. The round shape makes it easy to stir and mix food. Thus, such factors will drive the growth of the market segment during the forecast period.
Based on enduser, the segment is classified into restaurants, catering, hotels, and bars. Restaurants will account for the largest share of this segment. Restaurants are the major endusers of the market. To preserve leftover food, semiprepared food, gravies, and certain perishable raw materials, restaurants use these items which help restaurant owners lower food wastage and make easy provisions while preparing the food. Due to the rising number of dualincome families and busy lifestyles, people have less time to do their conventional household activities, including preparing food. So people prefer more convenient options rather than traditional household activities. Also, Most millennials prefer onthego food due to a rise in consumer purchasing power. Apart from food takeaways and delivery options, restaurants deliver a variety of food options, such as pizzas, burgers, and Mexican cuisine. Such factors have increased the demand for food services from restaurants in the US, which, in turn, will fuel the market to focus during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, categoryfocused, industryfocused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective growth strategies.
Market Customer Landscape
The Market is experiencing significant growth fueled by sustainability issues and environmental challenges. With a substantial market value and a promising growth rate, market segments such as plastic, CombiLight packaging pot, and Berry Superfos are notable. Expert analysis emphasizes the importance of addressing food contamination and ensuring food quality, especially with Generation Z consumers driving demand.
Import/export, pricing, and production consumption analyses are crucial, alongside innovations in environmentally packaging products. The e-commerce sector production consumption plays a vital role in distribution, while recycling investment is increasingly essential. Aesthetics and innovation, particularly in the plastic segment, are key factors shaping the market landscape, as observed by the United Nations Conference on Trade and Development.
The market in the US encompasses a wide array of products, including plastic food containers, aluminum containers, and metal pots. This market is a vital segment of the global food container market, which caters to the needs of the food and beverage business worldwide. As consumer demands evolve, there's a notable shift towards biodegradable and smart food packaging materials, prompting innovation among food packaging companies. This trend is particularly prominent in urban areas, where families consuming packaged goods, especially those with working women and double-income families, are driving growth in the packaging industry.
The market report forecasts market growth and trends by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
MarketScope |
|
Report Coverage |
Details |
Page number |
137 |
Base year |
2022 |
Historic period |
20172021 |
Forecast period |
20232027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.21% |
Market growth 20232027 |
USD 2,166.85 million |
Market structure |
Fragmented |
YoY growth 20222023(%) |
3.01 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ARD Finance S.A., Berry Global Inc., Cambro Manufacturing Co., Carlisle Companies Inc., Container Supply Co. Inc., Coveris Management GmbH, LocknLock Co., Newell Brands Inc., Novolex, Plastipak Holdings Inc., Polytainers Inc., Quality Carriers, Sealed Air Corp., Silgan Holdings Inc., Sonoco Products Co., The Vollrath Co. LLC, Tupperware Brands Corp., United States Plastic Corp., Weener Plastics Group BV, and Amcor Plc |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fastgrowing and slowgrowing segment analysis, COVID19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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