Food Storage Container Market High Growth Opportunities | Emerging Trends | Industry Review | Global Forecast
Posted by Devanand on September 19th, 2022
Food storage container solutions are used by hospitality and travel & tourism sector to serve hunger needs of customers. Inclination towards processed foods as well as lack of time in cities can drive its demand significantly. MRFR’s report on the food storage container marketoutlines drivers and opportunities for the forecast period (2020-2027). The sudden outbreak of the COVID-19 pandemic and its cascading effects on the industry are explored below.
The global food storage container market size balloon at 4.19% CAGR over the forecast period.
Packaged Foods to Drive Market Demand
The convenience offered by food storage containers in transportation of processed and ready-to-eat foods and food mixes can drive the market demand significantly. Huge demand for them can induce demand for suitable packaging solutions. The demand for packaged foods owing to its categorization in essential foods has led to a flood of requests on online channels. Strong supply chains of food brands and sustained demand for food containers can bode well for the market. Long shelf life of containers and prevention of spoilage of foods can lead to innovation of products among manufacturers.
Request Free Sample of Report @ https://www.marketresearchfuture.com/sample_request/7725
Raw Material Shortage to Hamper Market Growth
The huge costs of raw materials as well as fluctuations in prices of crude oil can hamper market growth significantly. Awareness of sustainability and environmental issues as well as low consumption of packaged and processed foods can affect market growth.
The COVID-19 outbreak had weakened the market owing to hurdles in supply chains and production of lights. Dependence on Chinese suppliers for components and lockdown restrictions can wear down manufacturers. The halt on new construction projects and lack of tax benefits on installation of LED lights can prove detrimental to the market. This will cause a dip in adoption rate in highways, roadways, and public places.
Flexible Packaging to Gain Market Demand
By type, the market is divided into flexible and rigid. Flexible packaging is expected to command a huge demand share over the forecast period owing to replacement of rigid packaging solutions.
Plastic Material to Dominate Market Share
By material, it is segmented into plastic, glass, metal, and paper & paperboard. The plastic material segment is expected to be leading over the forecast period owing to being easily molded into containers, jugs, and films. Its inexpensive and lightweight nature compared to glass and metal can drive segment growth.
Containers to Lead in Global Market
Containers can capture a large market share owing to its use in storage of fruits and vegetables, frozen foods, dairy items, and other processed foods.
Speak to Analyst @ https://www.marketresearchfuture.com/ask_for_schedule_call/7725
Candy and Confections to Biggest Market Application
Candy and confections are likely to be the biggest market application of the food storage container industry due to growing demand for chocolate and availability of confectionery in various sizes.
APAC to Display Highest CAGR
Asia-Pacific (APAC) accounted for the largest market share in 2017 and was valued at USD 92,084.6 million. It is expected to witness steady growth owing to the high demand for fast moving consumer goods (FMCG) and food contact material regulations set by governments in various countries of China, Japan, India, Australia, Malaysia, and Singapore, are anticipated to increase the demand for food storage containers during the forecast period.
In 2017, China held the largest share in the global food storage containers market, owing to regulations mandated by the government for reducing food packaging waste. Moreover, in 2017, the ban on imports of recyclable plastics from other countries, which is anticipated to open lucrative opportunities for local food packaging manufacturers to meet the requirements for recycled plastics.
Amcor and Bemis Company Inc., Ball Corporation, Tupperware Brands Corporation, Crown Holdings, Inc., ACCO Brands, Graphic Packaging International, Inc., Graham Packaging Company, Associated Packaging, Inc., Avery Dennison Corporation, Hamilton Housewares Pvt. Ltd, Anchor Glass Container Corporation, Berry Global Inc., LOCK&LOCK Co., Ltd, Newell Brands, and Constar International (Plastipak Holdings, Inc.) are prominent players of the global food storage container market. Launch of new products and development of biodegradable products are on the agenda of players.
The VS2100 Vacuum Sealer by FoodSaver for storing foods in 8- and 11-inch bags has been designed to keep food fresh.
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Market Research Future
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Like it? Share it!
About the AuthorDevanand
Joined: July 26th, 2022
Articles Posted: 877
More by this author