Food Container Market, by Product (Bottles & Jars, Cans, Cups & Tubs, Boxes, and Others), by Material (Plastic, Glass, Metal, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
A food container is a container that is used to store, preserve, and transport food in order to extend food’s shelf life and make food easier to handle. Increased awareness of sustainability issues and environmental challenges such as pollution, related to food packaging is driving the growth of food container market. This will also ensure that consumers receive high-quality food. Changing lifestyles of consumer is another factor driving the demand for ready-to-eat packaged goods which eventually increased demand for food container globally.
Market Dynamics
As the world continues to fight the effects of climate change, consumers are changing their values to encourage more sustainable and environmentally friendly consumption habits. As a result, major businesses across the globe aim to shift their packaging materials to meet the needs of the customers. Furthermore, Generation Z is willing to pay more for environmentally sustainable products which is another factor that is expected to boost the growth of the global food container market over the forecast period.
Key market players are focusing on product launches, product expansions, mergers, acquisitions, and partnerships in order to expand their business in the market. For instance, in August 2021, Amcor plc (a company engaged in the production of packaging solutions) announced its plans to build two new state-of-the-art innovation centers. The new centers expand the global reach of Amcor’s innovation network, which currently includes flagship sites such as Neenah, Wisconsin and Manchester, Michigan, in the U.S., as well as smaller sites around the world.
Food contamination due to the use of cheaper quality materials and environmental impact of the disposal of food storage containers are some of the factor expected to hamper the growth of the target market during the forecast period. For instance, according to United Nations Environment Programme, around 40% of the demand for plastic is generated by single-use plastic products such as cup, lid, straws, water bottle, or the plastic container. The reports by the UN Environment Programme revealed that globally around 1,000 rivers are accountable for nearly 80% of global annual riverine plastic emissions into the ocean, which range between 0.8 and 2.7 million tons per year.
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