Food Storage Container Market Analysis By Size, Growth, Merger, Share, Key Players, Trends, Revenue, And Regional Forecast To 2023

16/apr/2020 11:21:27 Automotive Market Research Reports Contatta l'autore

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Food storage containers are used for storing food products and increasing their shelf lives. In this observation presented by Market Research Future (MRFR), the global food storage container market is supposed to expand at 4.19% CAGR over the review period. It is anticipated that the market is poised to benefit from the thriving food & beverage industry.

Increasing income level on the global front has led to a rise in demand for convenience food. It is also likely to increase due to the rise in working population. The demand for convenience food is poised to catalyze the expansion of the food storage container market in the foreseeable future. In addition, the dairy products are witnessing expansion of product portfolios. New products such as plant-based ones, are being added to product lines. It is projected to boost the proliferation of the food storage container market in the years to come.

Urbanization is another key factor driving market growth across the world. It has elevated hygiene levels which are also poised to boost demand for packaging. In addition, the introduction of new materials for packaging is anticipated to work in favor of the food storage and container market.

Market Segmentation:

By type, the food storage container market has been divided into rigid and flexible. Among these, the flexible segment is anticipated to exhibit a higher rate of growth over the next few years. Flexible packaging offers convenience and easy handlings which are poised to drive its demand in the upcoming years.

By material, the food storage container market has been segmented into plastic, metal, paper & paperboard, and glass. The plastic segment is projected to hold a relatively larger share of the market. Plastic can be easily shaped and molded. This, in turn, is anticipated to expand the segment in the coming years.

By product, the food storage container market has been segmented into bag, pouch, and containers. Among these, the containers segment is prognosticated to register a higher growth pace. Its expansion is driven by rising demand for dairy items, bakery products, and fruits & vegetables.

By application, the food storage container market has been segmented into meat product, fruits & vegetables, and candy & confections. The candy & confections segment is expected to generate higher revenues than other segments. It is due to the rising demand for chocolates and candies and their easy availability.

Regional Analysis:

The geographical evaluation of the global food storage container market has been covered for the following regions – Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). These segments are then studied by narrowing down to a country-level basis. Asia Pacific is expected to account for the most substantial share of the market and was valued at USD 92,084.6 Mn. It is supposed to be driven by rising demand for convenience food. Also, the rising hygiene level is poised to influence the food storage container market positively. Europe is also prognosticated to accrue considerable amount of revenue in the foreseeable future. Increasing mandates by governments regulating the packaging standards of food products are expected to catalyze the expansion of the market.  

Competitive Dashboard:

Amcor and Bemis company Inc., Newell Brands, LOCK&LOCK Co., Ltd, Tupperware Brands Corporation, Hamilton Housewares Pvt. Ltd, Constar International Constar International Inc. (Plastipak Holdings, Inc.), Ball Corporation, Anchor Glass Container Corporation, Berry Global Inc., Crown Holdings, Inc., Associated Packaging, Inc., Graphic Packaging International, Inc., Avery Dennison Corporation, Graham Packaging Company, and ACCO Brands are few of the global players of the food storage container market.

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