Global Food Storage Container Market - 2021-2028
発行: DataM Intelligence
ページ情報: 英文 180 Pages
The global food storage container size was worth US$ XX million in 2020 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
Food storage containers find application in the storage of consumables such as bread, dairy, confectionery products, among others, at various temperatures. Food storage containers offer to aid in protecting food from harmful germs, thereby preserving the respective food from major safety risks while maintaining a certain quality during the storage.
Depending on the type of food to be stored, numerous food storage containers are available, such as dry, refrigerated and frozen containers. Food storage containers are widely used by end-user industries such as households, restaurants, hotels, among others. Efficiency, flexibility and security are the three major parameters that determine the quality of a food storage container.
The global food storage container is driven by advancements witnessed in storage containers and the growing number of commuters across the globe.
The technological advancements in storage container technologies and rising rates of transit among people
The impact of technology is supportive of the development of the respective sectors. Similarly, in the case of the storage container market, the advancement in technology is proactive and enhances the market prospects of the global storage container market. For instance, the leading players' launch of advanced compostable bio-based food storage containers is creating a huge opportunity for the global food storage container market as the awareness regarding climate change and similar environmental issues are growing rapidly among consumers. An example of such an instance is Footprint's launch of a plant-based clam-shell sustainable takeaway food container. The new biodegradable food containers allow customers to store their food products without sacrificing quality and convenience.
Further, the surge experienced in the food storage container market is also driven by the growing number of tourists who require containers for food storage while in transit. As per the World Tourism Organization, the number of global tourist arrivals worldwide reached 1.4 million people and is projected to increase by 1.8 million. The growing tourist population is expected to create massive demand and sales for the global food storage container market, driving the market. As a result, the advancements in storage container technologies and rising transit rates could be considered a major market driver.
Ban on the use of single-use plastics
Plastic was once a popular choice for manufacturing food storage containers due to its ability to protect the consumables from moisture and germs that can spoil them. However, due to the impact of certain variations of plastic on human health and nature, world governments and regulatory authorities across the globe have banned the usage of single-use plastic and food containers based on single-use plastics.
Nonetheless, though the impact of this ban is positive on the environment, the same was disastrous for the global food storage container market due to the easy availability and comparatively cheaper price ranges of plastic. Additionally, the already manufactured food storage containers had to be discontinued from sales due to the sudden ban on single-use plastics, resulting in a severe loss for the manufacturers. Many small-scale market players also were kicked to the curb by the loss caused by the sudden ban on single-use plastics. As the sudden banning of single-use plastics reduced the overall production, efficiency and demand in the global food storage container market, the respective actor is considered a major market restraint.
The global food storage container market has witnessed a slight decline in demand during the initial phases of the COVID-19 pandemic. Several countries were in the lockdown state and manufacturing industries were closed during the period. Further, production activities of food storage containers were restricted in several countries during the COVID-19 pandemic due to lockdowns.
However, the food storage container demand slightly increased post the second pandemic wave as several leading manufacturers resumed production. Furthermore, additional investment by market players to enhance production due to cash the growing need for food containers in takeaway home food service by hotels, restaurants and households. Additionally, the launch of new products with new state-of-art technology is further expected to create opportunities for the growth of this market post-COVID-19 pandemic.
For instance, on March 18, 2020, Kitchen Essentials launched kitchen tools, cookware and snapware food storage container sets made of pyrex glass due to the growing demand for takeaway food during the COVID-19 pandemic.
The global food storage container is segmented based on type, material, capacity, function, end-user and region.
An increase in global food consumption and a boom in urbanization globally have spurred bakery and confectionery sector expansion globally.
Based on the end-user, the global food storage container market is segmented into bakery & confectionery, household, condiments & spices, fish & poultry, chocolates, fruits & vegetables, meat and others. The bakery & confectionery segment currently dominates the market due to the rising number of manufacturing facilities that produce confectionery food products. Further, a surge in demand and consumption of bakery and confectionery food among the urban population is also a major factor that propels the food storage container market growth. Thus, the respective reason should be recognized as the major market booster responsible for dominating the bakery & confectionaries segment in the global food storage container market, motivating market players to produce and provide innovative products.
For instance, on June 3, 2020, AGI glaspac, a leading global manufacturer of integrated food storage containers, has launched an innovative antibacterial product range of food storage glass jars and bottles through its retail segment Greendrop Glassware. The new products are made with 'Germ Guard Technology, which protects food products and enhances their shelf life.
Asia-Pacific holds the largest market share in the global food storage container market due to the presence of heavy population, market players and investments
The Asia-Pacific dominates the global food storage market primarily due to the presence of a large population. Since Asia-Pacific is the most populated area globally with millions, many major food manufacturing companies consider the region one market hotspot. Such heavy food manufacturing companies would eventually trigger the demand for specific, sustainable and effective containers to store individual products. Since the above two reasons help the food storage container market experience a market boom in the region and attract a multitude of investments from various leading players of the region.
For instance, India's cattle population is over 7.7 million tonnes, making it the world's largest. The country generates approximately 95.2 million eggs per year, which is one instance to explain the huge demand for food storage containers in this region. Further, heavy government and private sector investment in the Asia-Pacific area for various food-related activities has raised the demand for this region's food storage container market.
The growth of the food storage container market in North America and Europe is growing swiftly and is propelled by the rising consumption of dairy products, bakery, confectionery, along with growing meat consumption in the region.
The food storage container market is a significantly competitive market that contains several local and global companies. Some of the key players in the respective market include NuWave, Amcor plc, LIDAR Corporation, Tupperware, The Clorox Company, Newell Brands, LocknLock, OXO, Molded Fiber Glass Tray Company, Prepara, among others.
The major players are adopting several growth strategies such as product launches, acquisitions, collaborations, among others, to gain a competitive edge in the global food storage container market. For instance, on November 22, 2019, Danimer Scientific and Genpak announced a collaboration to produce a new line of biodegradable food packaging. Danimer Scientific, a prominent manufacturer of biodegradable resin, introduced specific biodegradable resin specifically for the development of Genpcak's GenZerof line of takeaway food storage containers.
Overview: Amcor Plc is a packaging and container manufacturer that offers a comprehensive range of flexible and rigid packaging, food storage containers, specialty cartons and closures. The company provides services and products to various industries, such as healthcare, food & beverage, pharmaceutical, etc. Amcor Plc employed around 46,000 people and had a turnover of US$ 12.9 million in sales for the year 2020. The company has approximately 230 sites across over 40 countries the world over.
Container Systems: The product offers outstanding seal properties, full package tightness through excellent seal adaptability, integrity, lightweight and formability. The product is used to preserve dry beverages such as tea, powdered drinks, and coffee and find application in end-user segments such as pharmaceutical retail of topical, ophthalmic, and dermal products.
Key Development: On April 24, 2020, Amcor released AmLite Ultra recyclable high-barrier polyolefin film, which is highly innovative, recyclable and flexible. The product helps to minimize a pack's carbon footprint by up to 64%. Furthermore, Amcor also announced the release of recyclable retort pouches for consumer items like food storage containers, ready-meals, pre-cooked soups, infant foods and wet pet food on September 29, 2020.
Visualize the composition of the food storage container market segmentation by type, material, capacity, function and end-user, highlighting the key commercial assets and players.
Identify commercial opportunities in the food storage container market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of food storage container market-level 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players
The global food storage container market report would provide access to an approx. 67 market data table, 86 figures and 180 pages.
Target Audience 2022
Food Storage Container Manufacturers/ Buyers
Industry Investors/Investment Bankers
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