Global Food Storage Container Market- By Material (Metal, Paper & Paperboard, Glass, Plastics and Others);By Type (Rigid Packaging and Flexible Packaging);By Product (Bags, Pouches and Containers); By Application (Fruits & Vegetables, Dairy Products, Meat Products, Candy and Confections, Grain Mill Productions, Bakery Products);By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa); Trend Analysis, Competitive Market Share & Forecast, 2018-2026

Published:
April 2021
Report Code:
BWC20312
Available Format:
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Pages:
178

global food storage container market

Global Food Storage Container Market- Industry Trends & Forecast Report 2026

A study, recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, the global food storage container market reached USD 156.1 billion, with a compound annual growth rate (CAGR) of 4.1% of the market during the forecast period to reach a valuation of USD 196.6 billion by 2027The demand for food storage containers is rising due to the growth of the e-commerce sector. With the advent of the internet, the e-commerce market has grown significantly over the years. China has grown to be one of the world's largest e-commerce markets. Additionally, the e-commerce sector in the U.S. registered an enormous jump of 44%, almost tripling the 15% increase registered in 2019. 

The e-Commerce market of the Asia-Pacific accounts for more than 70% of the global e-commerce market. With COVID-19 and lockdown restrictions, e-commerce sales have gone through the roof with e-commerce companies reporting sales worth USD 4.1 Million across platforms during the festive week of October 2020 in India. Such wide and rapidly growing e-commerce sales have led to the growth of the food storage container industry as the sales of products using food storage containers have also increased. According to the National Confectioners Association, overall sales of candy and chocolate have increased 3.8%. Between March 15 and August 9, 2020, chocolate sales increased by 5.5% and luxury chocolate sales increased by 12.5%. This rise in the sales of products using food storage containers is also fueling the growth of the global food storage container market.

Source: BlueWeave Consulting

 

Global Food Storage ContainerMarket Overview

Based on material type, the food storage market is segmented into metal, paper &paperboard, plastic, glass, and others. Plastic packaging, such as containers, jugs, and plastic film, is mostly used in the food industry because it can be easily shaped and molded to fit the end applications.Due to its high demand, reusability properties, and cost efficiency, plastic accounts for the majority of consumption in the production of food containers. Over the forecast period, the glass segment is also expected to rise in market share. A plastic lid is normally attached to glass storage containers to keep them airtight. Glass jars are in high demand due to their ability to hold food fresh for longer than other types of containers.

Global Food Storage ContainerMarket Forecast and Trends

Driver: Growth of theE-Commerce Sector

The term e-commerce refers to the activity of buying and selling goods online. The internet has provided people with a platform to legally buy and sell anything via e-commerce platforms. e-Commerce is used for selling and purchasing a range of items such as books, electronics, clothing, applications, and furniture. It has helped several businesses and markets grow over the years.

With the rise of the internet, the e-commerce market has grown significantly over the years. According to the United Nations Conferenceon Trade and Development (UNCATD), global e-commerce sales were worth a massive USD 25.6 trillion in 2018 with the US, Japan, and China accounting for the three biggest e-commerce markets worldwide. The e-commerce sector in the U.S. registered an enormous jump of 44%, almost tripling the 15% increase registered in 2019. With such a large global market and rapid growth in sales, the e-Commerce market offers the ideal platform for the growth of the food storage container market. Companies can easily market their products on e-commerce platforms and grow their business. For instance, in 2018, e-commerce giant, Amazon held a 49% market share in entire e-commerce sales in the U.S. That is more than the combined market share of Amazon's top three competitors, eBay, Apple, and Walmart, with each having 6.6%, 3.9%, and 3.7% share respectively.

Restraint: Energy-Intensive Processes and Carbon Emission

Energy consumption is one of the most pressing issues in today's world. With the constant demand for controlled use of existing energy resources and the need for new sustainable energy resources, companies are keen to move away from energy-intensive processes. Various processes, such as Aluminum smelting, and the production of iron and steel materials, are some of the most energy-intensive processes in the industry. The carbon footprint of a one-way glass bottle has been estimated to be 0.94 kg CO2 per kg. For an aluminum can, considering the 50% recycling rate, the carbon footprint has been calculated as 8.96 kg CO2 per kg. Furthermore, plastics such as LDPE or PET, polyethene have a carbon footprint of around 6 kg CO2 per kg of plastic.

These energy-intensive processes pose a huge challenge for the companies as governments and other regulatory bodies are pushing businesses to reduce their carbon footprint, and energy consumption by implementing strict regulations over carbon emission. Some companies are working towards reducing the carbon footprint by moving away from conventional energy sources to renewable energy sources such as hydroelectricity, solar energy, wind energy, and others. On the other hand, several businesses are switching to more energy-efficient systems. With carbon emission and energy consumption regulations becoming strict with every passing day, factors such as energy-intensive processes and the need to minimize carbon footprints are likely to limit the global food storage container market's growth during the forecast period.

Impact of COVID-19 on the Global Food Storage ContainerMarket

The food storage container market has been witnessing an increase in demand owing to the exponential growth in the demand for food products. The worldwide lockdowns and travel bans imposed by the governments of different countries to tackle the raging pandemic hampered the supply of fresh produce, leading people to stockpile processed food items, along with frozen food. This directly contributed to the increased demand for food storage containers. Flexible food storage containers, along with plastic and paper & paperboard food storage containers registered exponential growth while rigid food storage containers, along with steel and aluminum food storage containers registered a decrease in demand. Plastic food storage containers were slowly being phased out of the industry, but the pandemic has acted as a revitalizing medicine for plastic food storage containers. During the pandemic, demand for flexible food storage containers skyrocketed, resulting in a surge in demand for plastic food storage containers.

Global Food Storage ContainerMarket- By Material

Based on material type, the food storage container market is segmented into metal, paper &paperboard, plastic, glass and others.The plastic segment accounted for the largest market value of over USD 54 billion in 2020. This growth can be attributed to the characteristics of plastic packaging, which is easily formed and molded to suit the end applications. Furthermore, due to its demand, reusability properties, and cost efficiency, plastic accounts for the majority of consumption in the production of food containers.

Source: BlueWeave Consulting

 

 

 

 

Global Food Storage Container Market- By Product

Based on product, the market is segmented into bags, pouches and containers.Bags segment accounted for the larger market share in 2020, while pouches is anticipated to hold the second largest market share.Bags and pouches are light weight, portable, and convenient. Their use is bolstered by a continued global rise in the popularity of chilled and processed food, ready-to-eat meals, snack foods, grain mill and bakery items, and other products. The continued emergence of quick-prepared meals and packaged cooking ingredients (e.g., cooking fats and oils, packaged spices, seeds and nuts, and single-serve noodles and rice) favors plastic over less portable types.

Global Food Storage Container Market- By Application

Based on application, the food storage container market is segmented into fruits &vegetable, dairy products, meat products, candy &confections, grain mills, and bakery products. The meat segment is accounted for largest market share in 2020. This growth is attributed to the increased production of meat globally. Furthermore, the increasing sales volume of frozen beef product forms in the developed countries including the U.S. and Germany is also propelling the growth of food storage container market.

Global Food Storage ContainerMarket- By Region

Geographically, the food storage container market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region accounted for the largest market share of over 36% in 2020, wherein China accounted for the majority of the demand, owing to the regulations directed by the government for reducing food packaging waste. Besides this, the government of China banned the import of recyclable plastics from other countries, which is anticipated to open lucrative opportunities for the local food packaging manufacturers to meet the requirements for the recycled plastics from food industry over the forecast period.

Source: BlueWeave Consulting

Competitive Landscape

The global food storage container market is characterized by the presence of many regional and local vendors in the market. The global food storage container market is fragmented due to the presence of a large number of manufactures. The key players in the global food storage container market are Newell Brands, Tupperware Brand Corporation, Amcor, Lock & Lock Ltd, Hamilton Housewares Pvt. Ltd, Ball Corporation, Constar Corporation, Anchor Glass Container Corporation, Avery Dennison Corporation, Crown Holdings Inc, and other prominent players.To gain a larger market share, the key market players are forming strategic alliances. Furthermore, market participants are concentrating their efforts on enhancing their offerings in order to gain a competitive advantage over other major players.

Recent Developments

·         In November 2020, Rubbermaid Incorporated, a manufacturer of advanced, solution-based food storage and organisation products, introduced Rubbermaid® BrillianceTM Glass, the newest addition to its iconic line of BrillianceTM plastic food storage containers.Rubbermaid Brilliance Glass containers, designed for optimum storage and display, are now offered with new glass bases that can withstand oven temperatures of up to 450°F, making them the ideal choice for oven reheating or refrigerator storage.

·         In November 2020,Crown Cork & Seal Company, Inc. announced the completion of the sale of 10.5 million shares of Constar International Inc. common stock, representing approximately 88% of Constar's outstanding common stock.

 

 

 

 

Scope of Report

Attribute

                              Details

Years considered

Historical data- 2018-2020

Base Year- 2021

Forecast- 2021-2026

Facts covered

Revenue in USD Million and USD Billion

Market coverage

United States, Canada, Germany, France, U.K., Italy, Spain, Poland, Russia, Japan, China, India, New Zealand, Australia,Brazil, Argentina, Columbia, Mexico, UAE, Saudi Arabia, Oman, Kuwait, and Qatar

Product/ Service segmentation

By Material, By Type, By Product, By Application,  By Region

Key Players

Amcor, Tupperware Brands Corporation, Newell Brands, Lock & Lock Co., Ltd., Hamilton Housewares Pvt. Ltd., Ball Corporation, Anchor Glass Container Corporation, Associated Packaging Incorporation, Berry Global Inc., Crown Holdings Incorporated, Graphic Packaging International Inc., Avery Dennison Corporation and Other Prominent Players.

 

By Material

Ø  Metal

Ø  Paper & Paperboard

Ø  Glass

Ø  Plastics

Ø  Others

By Type

Ø  Rigid Packaging

Ø  Flexible Packaging

By Product

Ø  Bags

Ø  Pouches

Ø  Containers

 

By Application

Ø  Fruits & Vegetables

Ø  Dairy Products

Ø  Meat Products

Ø  Candy and Confections

Ø  Grain Mill Productions

Ø  Bakery Products

By Region

Ø  North America

Ø  Europe

Ø  Asia Pacific

Ø  Latin America

Ø  The Middle East and Africa

FAQs:

1.    What is the current size of the global food storage container market?

Answer: The global Food Storage Container market has reached USD 156.1billion in 2020.

2.     What are the major factors driving the growth of the global food storage container market?

Answer:  The growth in the e-commerce market is propelling the growth of the global food storage container market.

3.     Who are the key players in the global food storage container market?

Answer: The key players in the global Food Storage Container market includes: Amcor, Tupperware Brands Corporation, Newell Brands, Lock & Lock Co., Ltd., Hamilton Housewares Pvt. Ltd., Ball Corporation, Anchor Glass Container Corporation, Associated Packaging Incorporation, Berry Global Inc., Crown Holdings Incorporated, Graphic Packaging International Inc., Avery Dennison Corporation and other prominent players.

4.     Which application accounted for the largest share in the global food storage container market?

Answer:Meat products accounted for the largest share in the global food storage container market.

5.    Which product is dominating the global food storage container market?

Answer: Bags and pouches are dominating the global food storage container market.

 



 

 





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