by The global Food Container Market is estimated to be valued at US$ 168.83 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Food containers are used for packaging various food products across different industries including dairy, bakery, confectionery and more. Food containers provides protection from external environment and increases shelf life of packaged food products. Moreover, food containers made from eco-friendly materials are gaining popularity due to increasing consumer demand for sustainable packaging solutions.
Market key trends:
The food container market is primarily propelled by the increasing demand for environmentally friendly packaging solutions. There is a rising consumer preference for eco-friendly food packaging made from sustainable and recyclable materials such as paper, glass, and bioplastics. Environmentally conscious consumers are favoring food brands that use minimal packaging made from renewable resources. Furthermore, stringent government regulations regarding the use of single-use plastics are encouraging food brands and retailers to shift towards more sustainable packaging alternatives. Innovation in material science is also driving the development of novel biodegradable and compostable materials for food containers with properties comparable to conventional plastics. Leading food companies are actively collaborating with packaging manufacturers to develop sustainable and recyclable food packaging solutions to meet the evolving consumer demands and regulatory guidelines.
SWOT Analysis
Strength: The food container market has a large consumer base as food packaging is essential for transportation and storage of food products. It provides convenience to consumers to carry and store food items.
Weakness: Rising raw material prices increase the cost of producing food containers, squeezing profit margins for manufacturers. Stringent regulations around packaging waste management also add compliance costs.
Opportunity: Growth in demand for sustainable and eco-friendly food containers present an opportunity for companies to introduce innovative products made from renewable materials. Rising focus on ready-to-eat food expands the market scope.
Threats: Intense competition between manufacturers affects pricing. Fluctuations in foreign currency exchange rates impact the costs of importing raw materials.
Key Takeaways
Global Food Container Market Demand is expected to witness high growth over the forecast period supported by rising demand for packaged and ready-to-eat food products.
Regional analysis: Asia Pacific food container market is expected grow at the fastest pace during the forecast period. Expanding organized retail sector, rising disposable income, and western influence on dietary habits are major factors driving the demand for food containers in Asia Pacific countries. China is the largest producer and consumer of food packaging globally. Indian food processing industry is also growing rapidly facilitated by various government initiatives which will augment the need for packaging solutions.
Key players operating in the food container market are DJO Global, Inc., BSN medical (now part of Essity), Smith & Nephew plc, medi GmbH & Co. KG, SIGVARIS Group, Bio Compression Systems, Inc., Tactile Medical, RIKEN SEIKI CO., LTD., Paul Hartmann AG, 3M Company, Gottfried Medical, Inc., Mego Afek AC Ltd., Abov Semiconductor, Persys Medical, BTL Industries, Human Meditek Co., Ltd., Huntleigh Healthcare Limited (part of Arjo), KCI Licensing, Inc., Beijing Huibo Medical Device Co., Ltd., Bioinicia S.L. Major players focus on new product launches and expansion strategies to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
