The global food container market enables improved food packaging and distribution through the use of various containment materials and designs. Food containers provide protection from external elements like moisture, oxygen, and microbiological contaminants while extending shelf life. They come in a variety of shapes and sizes suited for various food types ranging from dry and wet ingredients to ready-to-eat meals. Popular container materials include plastic, glass, metal, and paperboard owing to properties like durability, barrier effectiveness, and microwave & freezer compatibility. The sealing and tamper-evident closure options further ensure product safety and quality retention during storage and transport.
The global Food Container Market is estimated to be valued at US$ 194.5 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the food container market growth is the growing demand for microwavable food packaging. Microwavable containers allow for quick and convenient meal preparation. Materials such as plastic, certain types of paperboard, and coated paper provide the durability and barrier protection required for microwave heating. Leading players are focusing on product development and innovation to cater to increasing requirements of microwave-safe and ready-to-heat meal solutions. Another prominent trend is the use of sustainable and eco-friendly food packaging materials. Rising environmental awareness has necessitated the switch to greener options like bio-based plastics, biodegradable materials, and recycled resins in container manufacturing.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the food container market is a competitive market with presence of major established players. However, new entrants need significant capital investment for production facilities and global distribution network.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of various product options from different manufacturers. Buyers can negotiate on pricing and customizations.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Major raw materials are plastic and metals where suppliers have a moderate level of control over pricing.
Threat of new substitutes: Threat from substitutes is moderate as other forms of food packaging like cans and pouches provide substitutes. However, containers are most feasible form of food packaging.
Competitive rivalry: The competitive rivalry is high among existing players to gain higher market share through product launches, acquisitions and expansions.
Key Takeaways
The global Food Container market is expected to witness high growth over the forecast period driven by increasing packaged food consumption. Global Food Container Market Demand is estimated to be valued at US$ 194.5 Mn in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period 2024 to 2031.
Regional analysis: Asia Pacific region dominates the global food container market and is expected to witness fastest growth during the forecast years. China and India are the key markets in the region driving demand.
Key players: 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 are focusing on new product launches and geographic expansions to gain competitive advantage.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it