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The food storage container market size is estimated to grow at a CAGR of 3.36% between 2022 and 2027. The market size is forecast to increase by USD 12.93 billion. The growth of the market depends on several factors, such as a growing preference for durable and lightweight containers, shelf-life extension of food products to avert cross-contamination, and increasing demand for odor- and stain-resistant storage containers.
This food storage container market report extensively covers market segmentation by material (plastic, metal, glass, and paper), type (rigid packaging and flexible packaging), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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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 the food storage container 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 purchasing patterns of consumers due to the emergence of organized retail segments. As a result, several prominent companies are developing food storage containers 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 containers. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the food storage container 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 the R&D of food containers 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 containers to store cold foods among end-user. The main advantage of these food storage containers is it offers 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 the food storage container market growth. In the manufacturing process of food storage containers, 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) that 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 associated with plastic food storage containers can 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.
Global Food Storage Container 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 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 food 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 food wastage.
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The plastic segment was the largest segment and was valued at USD 30.45 billion million in 2017. 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 food storage containers with locking mechanisms for preserving leftovers to disposable plastic containers for food delivery or takeout. One of the main kinds of materials that are used for manufacturing plastic food storage containers is polypropylene (PP) and PE. The main advantages of these materials are that it offers 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 36% 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 food storage container 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 the food storage container market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global food storage container market witnessed a significant slowdown due to the temporary closure of restaurants, schools, and other food service establishments, resulting in a decline in demand for food storage containers used in commercial settings. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the reopening of end-user industries such as restaurants and catering services. Such factors are expected to drive the market during the forecast period.
The food storage container market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Food Storage Container Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.36% |
Market growth 2023-2027 |
USD 12.93 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.4 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, India, Japan, and Germany |
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 growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, 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 Material
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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