Food Storage Container Market to Witness Huge Growth By , Size, Share
The global food storage container market is projected to thrive at a CAGR of 4.19% during the assessment period. The global food storage container market is likely to hold substantial value. The increasing concern regarding the environment is anticipated to be an important factor driving the global food storage container market 2020. Besides, the surging urbanization and the population has resulted in an upgraded standard of living, resulting in changed food habits of the consumer, which has actuated the global storage container market size.
Furthermore, the work constraints have resulted in increased usage and demand for stored food. In addition, the increased demand for perishable products such as dairy products and meat has posed several opportunities for expansion. Moreover, the stern rules executed by the government towards protecting the environment and monitoring greenhouse emissions is projected to be another factor leading to market expansion.
However, factors such as changing customer preference are likely to impede the market growth. Besides, due to the pandemic, various companies in the market have temporarily shut their daily operations. The halt caused in business operations is estimated to bring a considerable impact on market revenue. It is estimated that it will take some time to recover from the losses incurred during the observation of lockdown. We will provide an impact analysis report on COVID-19.
Key Players
The distinguished organization of the global food container market are Berry Plastics Corporation (US), Bemis Company, Inc. (US), Crown (US), Graphic Packaging International, LLC (US), Graham Packaging Company (US), Ball Corporation (US), Anchor Glass Container Corporation (US), Constar International UK Ltd. (UK), Plastipak Holdings, Inc. (the US), PRINTPACK (US), and a few others.
Market Segmentation
The global food storage container market can be distinguished on the basis of material, product, application, type, and geography.
On the basis of material, the global food storage container market can be distinguished into glass, paper & paper boards, plastic, metal, and others
On the basis of product, the global food storage container market can be distinguished into pouches, bags, containers, and others
On the basis of application, the global food storage container market can be distinguished into dairy products, fruits & vegetables, meat products, baked and confectionery, and frozen foods.
On the basis of type, the distinguished food storage container market can be segmented into rigid and flexible packaging.
On the basis of geography, the distinguished food storage container market can be segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Regional Analysis
The geographical evaluation of North America, Europe, Asia-Pacific, and the Rest of the World (RoW) has been performed. The market is likely to expand significantly during the review period. The APAC region is likely to reign the worldwide market during the assessment period. The most significant reason for regional expansion is the increasing demand for FMCGs.
Moreover, the region is prospering due to the increased disposable income, growing popularity of packaged food, and the changed lifestyle. Europe has attained the second position. The stored food is gaining popularity due to the rising amount of food packaging constructed of bioplastics.
Also, the rising demand for sustainable packaging products among consumers is another pivotal factor leading to market growth.
On the other side, North America is likely to acquire the largest share of the market. The most significant factor leading to regional growth is the reduced waste, growing usage of packaged food, and the growing adoption of small-sized food containers.
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