Maintaining food quality through innovative methods to support market expansion is to cater to the Food Container Market growth
HYDERABAD, TELANGANA, INDIA, September 28, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that The Food Container Market size is estimated to reach $190 billion by 2027. Furthermore, it is poised to grow at a CAGR of 4.3% over the forecast period of 2022-2027. Food storage containers, especially in the refrigerator and freezer, are used to keep food at normal temperatures. Some food products must be kept for longer periods of time, necessitating the use of containers that are exceptionally durable, efficient, and protective. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways :
This IndustryARC report on the Food Container Market highlights the following areas –
1. Geographically, North America accounted for the greatest market share of more than 35.5%, owing to Urbanization, as well as ascending interest in packaged food. The market for U.S. is driven by the increasing sophisticated consumer demand for convenient, easy-to-carry, storable and ready-to-eat food packaging. Furthermore, North America is expected to offer lucrative growth opportunities to the marketers in the projected period of 2022-2027 owing to a rapid increase in consumption of various food and beverages items along with other spirits.
2. In recent years, the growth of packaged food as one of the most profitable divisions of the global food and beverage business has fuelled large-scale advancements across the food container market. However, challenges forging in terms of container’s recyclability and cost implications has hampered the overall market growth.
3. A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Food Container Market Report.
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Segmental Analysis :
1. The Food Container market based on material can be further segmented into Paperboard, Metal, Glass, Plastic, and Others. Plastic have a large part of the global market share in 2021 Owing to its demand, reusability features, and cost efficiency, plastic accounts for the majority of consumption in the production of food containers. Plastic is also lighter than other materials and requires very little energy to manufacture. Furthermore, when compared to other materials such as metals and glass, it is quite affordable.
2. The Food Container market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. In 2021, North America dominated the Food Container Market, accounting for 35.5% of the total market.
3. The Food Container market based on packaging type can be further segmented into rigid packaging, Semi-rigid Packaging and Flexible packaging. In 2021, the rigid packaging segment had the biggest market share. Its strong stiffness, impact strength, and barrier qualities contribute to this. The rigid food containers have a longer lifespan, which is driving the segment’s growth over the projection period (2022-2027).
Competitive Landscape :
The top 5 players in the Food Container Industry are –
1. Amcor plc
2. Sonoco Products Company
3. Graham Packaging Company, Inc.
4. Silgan Holdings, Inc.
5. Ardagh Group
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