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The food storage container market size is forecast to increase by USD 10 billion, at a CAGR of 2.58% between 2023 and 2028. The market's expansion is contingent upon several key factors, including the escalating preference for containers that blend durability with lightweight characteristics, the imperative need to extend the shelf-life of products to mitigate cross-contamination risks, and the surging demand for storage cans engineered to resist odors and stains. As consumers prioritize convenience and sustainability, there's a growing inclination towards containers that offer robustness without compromising on portability. Moreover, the drive to enhance food safety standards underscores the importance of cans capable of preserving product freshness and integrity over extended periods. Additionally, the rising demand for odor- and stain-resistant containers reflects a broader trend towards hygiene and cleanliness in various applications, further propelling market growth and fostering innovation in container design and manufacturing.
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In today's fast-paced world, changing lifestyles and busy schedules have led to a growing demand for convenience food. This trend has fueled the consumption of processed and packaged foods, necessitating efficient food storage containers. These containers come in various forms such as plastic containers, glass containers, and metal containers, offering versatility to consumers. With an emphasis on sustainability, lightweight and eco-friendly options like paperboard and twin pouches are gaining traction. Whether it's storing grain mill products, dairy goods, or bakery products, consumers seek containers like jar, bag, tub, and semi-rigid options to maintain freshness and convenience.
The plastic segment is estimated to witness significant growth during the forecast period. There is increasing adoption of plastic containers due to their several benefits such as versatility, affordability, and convenience. The lightweight nature of plastic is also fuelling the demand for plastic storage containers across several industries as they are easy to carry, stack, and store, making them suitable for daily use. Another main advantage of this segment over glass containers is that they are shatterproof which minimizes the risk of breakage and resulting wastage.
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The plastic segment was the largest segment and was valued at USD 30.70 billion in 2018. Plastic containers are available in a wide variety of formats, shapes, sizes, and styles and thereby offering consumers different options as per their specific requirements. Different formats of plastic segments range from reusable meals storage containers with locking mechanisms for preserving leftovers to disposable plastic containers for delivery or takeout. One of the main kinds of materials that are used for manufacturing plastic meals storage containers is polypropylene (PP) and PE. The main advantages of these materials are that they offer better durability, resistance to chemicals, and water resistance, ensuring the safe storage and transportation of food. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main factors which are significantly contributing to the growth of the food storage containers market in APAC are changing consumer preferences, rising demand for convenience, and an increasing focus on sustainable packaging solutions. Some of the main revenue-generating regions in the market in APAC are India and China. The main reasons for the growth of the market in these regions are hectic lifestyles and increasing consumption of processed and packaged foods. Furthermore, there is an increasing preference to eat on the go or order takeout which has fuelled the demand for convenient and practical packaging solutions. Hence, such factors are expected to drive market growth in the region during the forecast period.
The market is witnessing a surge in demand due to changing lifestyles and busy schedules, driving the need for convenience food options. Various materials like metal containers, paperboard, bottles, jars, bags, and cups cater to diverse storage needs, from grain mill products to dairy goods and bakery products. Addressing sustainability issues, manufacturers are innovating with twin pouches, gussets, corner spouts, stand-up pouches, and flat pouches, meeting the preferences of Generation Z for environmentally friendly packaging. Ensuring food safety remains paramount, prompting the development of sustainable packaging products to mitigate food contamination risks. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving market growth is the growing preference for durable and lightweight containers. There has been a significant change in food habits due to rapid urbanization across the world. As per World Bank, the urban population has grown from 82.5% to 83% in 2020. Due to increasing urbanization, the majority of the population is spending more on food at various food service establishments.
Additionally, the rapid increase in supermarkets and hypermarkets offering fresh foods across urban areas will positively impact the market. There is an increasing shift in the purchasing patterns of consumers due to the emergence of organized retail segments. As a result, several prominent companies are developing food storage receptacles in different formats, sizes, and shapes so that they can cater to the needs of end-users. Furthermore, there is increasing investment in developing lightweight and durable products without compromising the quality and safety of the receptacles. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping market growth is the growing importance of sustainable containers. There is a growing preference among consumers for eco-friendly and sustainable products. As a result, there is an increasing investment by several market players in R&D that are recyclable and resistant to friction, moisture, and heat.
Additionally, there is an increasing focus by manufacturers on innovative technologies so that they can use versatile materials that are durable, eco-friendly, and temperature-resistant. Furthermore, there is increasing use of polycarbonate food storage cans to store cold foods among end-user. The main advantage of these food storage containers is they offer resistance to stains and are highly durable. Hence, such developments are positively impacting the market which in turn will drive the market growth during the forecast period.
Issues regarding health and environmental safety are one of the key challenges hindering market growth. In the manufacturing process of food storage cans, additives are added in order to provide plastic products durability, color, and other additional properties. As these additives are highly mobile in nature, they can easily get transmitted into the packaged food substance resulting in the contamination of the product.
Hence, the increasing risk of toxic release in food can significantly impact the health of consumers. Thus, such factors can negatively affect market growth. According to the Federal Food, Drug, and Cosmetic Act (FDCA) manufacturers must gain permission or approval from the FDA or the US Department of Agriculture in the form of the threshold of regulation exemption letter from the Food Contact Notification (FCN). Such stringent regulations and guidelines, coupled with health hazards, may hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
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.
Accent-Fairchild Group: The company offers food storage containers under its division Accent Home Products.
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, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market offers a plethora of options ranging from bags and pouches to rigid containers and flexible containers, meeting diverse needs in the food service industry and consumer households. These cans not only provide portability but also contribute to freshness preservation and product differentiation, aligning with evolving consumer tastes and preferences for quick meals and convenience. From clamshells and cans, various packaging solutions cater to different types of food items including fruits and vegetables, meat products, and candy and confection.
Further, amidst environmental challenges, the market also emphasizes sustainability, offering options like plastic bags, wraps, and tubs made from eco-friendly materials. The market landscape depends on the Kitchen, Fast food containers, Boxes, Freshness and nutrition, E-commerce, Online food sales, and Food packaging. With a focus on visual appeal and aesthetics, manufacturers strive to provide high-grade quality food storage cans that ensure both food quality and aesthetic satisfaction for consumers. Further, in today's fast-paced world, changing lifestyles and busy schedules have led to a growing demand for convenience food. This trend has fueled the consumption of processed and packaged foods, necessitating efficient food storage containers. These containers come in various forms such as plastic containers, glass containers, and metal containers, offering versatility to consumers. With an emphasis on sustainability, lightweight and eco-friendly options like paperboard and twin pouches are gaining traction. Whether it's storing grain mill products, dairy goods, or bakery products, consumers seek containers like jars, bags, tubs, and semi-rigid options to maintain freshness and convenience.
Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.58% |
Market growth 2024-2028 |
USD 10 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.44 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key countries |
US, China, India, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accent-Fairchild Group, Amcor Plc, Anchor Glass Container Corp., Berry Global Inc., Crown Holdings Inc., Graham Packaging Co. LP, Graphic Packaging Holding Co., Hamilton Housewares Pvt. Ltd., Newell Brands Inc., Nilkamal Ltd., O I Glass Inc., Pactiv Evergreen Inc., Plastipak Holdings Inc., Printpack Inc., RING Container Technologies, S.C. Johnson and Son Inc., Shantou Mandun Plastic Co. Ltd., Sonoco Products Co., Sterilite Corp., and Tupperware Brands Corp. |
Market dynamics |
Parent market analysis, Market forecasting, market report, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for 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 Material
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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