The global food container market is estimated to arrive at USD 201.9 billion by 2028. It is projected to develop by 4.2% CAGR from 2021 to 2028.
Mainly, the global market for food container is propelled by the fast enlargement in the food processing business, particularly in budding market places.
Besides, the growing necessity to decrease the carbon track and increase implementation of bioplastics, within the packaging industry is the factor, pushing the food container market. Likewise, development of the new product and modernization are fascinating food manufacturing companies. This is likely to increase the expansion of the market.
Such as, Dabur and Tetra Pak created a company to start on low-calorie juice products in an innovative packaging set-up, in 2020. It was exposed paperboard in addition to wood fiber packing, designed for a natural appearance.
A number of important policies have implemented by the majority of the companies, to make stronger their place in the market and increase their share. These policies include mergers & acquisitions, enlargement of the delivery network, presentation of new products, joint ventures, modernization and geographical growth.
For example, Berry Plastics Corp. had done the acquisition of RPC Group plc, a top company busy in designing of plastic as well as engineering products in the market for packaging, in July 2019. This acquisition assisted the company to expand its range of product and make use of the RPC Group’s extensive delivery system, to augment its customer base in untouched market places.
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Further key findings from the report suggest:
• In 2020, the bottles & jars product section held the highest revenue share and is expected to enlarge by a stable CAGR, during the forecast period
• Due to the possessions of metal, like durability and reusability, the metal division is likely to develop by a major CAGR, during the forecast period. But, as contrast to plastic the excessive weight and prices of the metal, possibly will limit the expansion of the division
• As a result of the rising global demand for the canned foods for example, canned fruits, vegetables, and tuna, the cans product section is anticipated to observe the highest CAGR, during the forecast period
• The plastic material sector held the major, more than 46.0% revenue share in 2020, due to elevated demand for plastic, since it is available in diverse sizes as well as shapes, it is strong and as contrast to other materials it is reasonably priced
Million Insights segmented the global food container market based on Product, Material, and Region.
Food Container Material Outlook (Revenue, USD Million, 2017 - 2028)
Food Container Product Outlook (Revenue, USD Million, 2017 - 2028)
• Bottles & Jars
• Cups & Tubs
Food Container Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• Saudi Arabia
• South Africa
Various companies for food container market are:
• Ball Corp.
• Graham Packaging Company, Inc.
• Plastipak Holdings, Inc.
• Ardagh Group
• Amcor plc
• Tetra Pak
• Weener Plastics
• Sonoco Products Company
• Berry Plastics Corp.
• Silgan Holdings, Inc.