Food Container Market to Grow Rapidly
The global Food Container Market is anticipated to rise at a staggering CAGR in the forthcoming period. Food containers come in several size and shape. The plastic, as a raw material used for packaging of food items, differs in purpose. For instance, PET plastics used for medicine jars, beverage bottles absorb the odor and food flavors stored within them. As compared to PET, HDPE bottles finds its use especially for milk storage.
The underlying assumption role for food packaging involves protection of food products from outer influences and external damage to the food. Another major purpose in using a food container is to empower customer’s access to ingredient and nutritional information. Overall, the holistic goal of food packaging is to preserve the food in a cost-effective way without disturbing the nutrition level and fulfilling consumer desires.
The market witnessed heavy influences in the past due to rise in large supermarkets owing to increase in purchase of processed food. Rise in migration from rural to urban areas and increase in disposable income positively affected the market growth. Other factors such as maturation of market, convenience of packaging, flexible size and greater consumption of packaged food products contributed to the market growth.
Food container industry, at present, is driven by significant increase in customer base across the globe, rise in number of women workforce and increasing demand for convenient food packaging across the globe. Change in lifestyle and rising innovation to produce convenience food products in emerging economies pumps the market growth.
Rising importance of flexible packaging in the nutrition industry revealing excellent properties such as flavor retention, heat insulation and moisture resistance is anticipated to drive the market growth in the forecast period. Product segmentation for food container market includes paperboard, rigid packaging, flexible packaging, metal and glass. Flexible packaging accounts for higher growth in the forecast period due to preferred mode of packaging and consumer demand.
Application segment for food container industry includes grain mill products, bakery, fruits & vegetables and meat processed products. Meat processed products are likely to gain a significant growth in the global market due to increase in demand for meat and meat products.
Geographical segmentation for food container market includes North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. North America food container industry holds a significant market share in the forecast period due to rise in demand for convenient food owing to presence of a vast workforce.
Asia-Pacific’s market is anticipated to rise at a higher market position due to presence of a food chain and eateries engaged in food packaging. Middle East and African markets witness a positive traction owing to the rise in consumer base and increased tourism in these regions. The key players in the food container market include Ball Corporation, Silgan, Berry Plastics, Caraustar Industries, Klockner Pentaplast Group, Bemis and Graham Packaging.
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