Plastic Food Container Market Size, Share, Growth, and Industry Analysis by Type (PET Plastic, PE Plastic, PP Plastic), by Application (Meat Products, Dairy Products, Bakery Products, Fruits And Vegetables), Regional Insights and Forecast to 2031

Updated On: 22 April 2024

PLASTIC FOOD CONTAINER MARKET REPORT OVERVIEW

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The global plastic food container market size was USD 33770 million in 2019 and the market is projected to touch USD 46420 million by 2026, exhibiting a CAGR of 4.6% during the forecast period.

Food packaging container usually refers to the packaging container that comes into direct contact with food, namely the inner packaging container. Plastic food container is specifically designed to hold food products both solid and liquid. Plastic material by which the container is made should not react with the food products stored and the food should remain safe for consumption. The plastic used must also be of recyclable nature. Plastic food container is rigid in nature to ensure that it is crush and break resistant. Universal rise in millennial population, increase in disposable income, changing lifestyle are increasing the demand for packaged food across the world. Consumers across the globe are demanding convenient packaging that is easy to carry and store for ready-to-consume food. Therefore, it is very important for food container manufacturers to keep up with these changing consumer likings. Plastic is lighter than other materials such as glass, metal etc. and requires very little energy to produce. It is also relatively inexpensive, in comparison to other materials such as metals and glass.

Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:  Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

PLASTIC FOOD CONTAINER MARKET SEGMENTATION

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• By Type Analysis

According to type, the market can be segmented into PET plastic, PE plastic, PP plastic.

PET plastic will capture the maximum market share through forecast period.  

PET is a clear, strong, and lightweight plastic. It is commonly used for packaging foods and beverages, especially liquids.

PE is known for its strength, flexibility, and durability. HDPE has a high strength-to-density ratio, while LDPE is more flexible and transparent. HDPE is often used for containers like milk jugs, cereal box liners, and large food buckets. LDPE is used in applications like squeezable bottles, plastic bags, and cling films.

PP is a tough, heat-resistant plastic. It's known for its high melting point, making it suitable for containers that need to withstand high temperatures. Commonly used for yogurt containers, syrup bottles, prescription bottles, and microwaveable plastic meal trays.

• By Application Analysis

According to application, the market can be segmented into meat products, dairy products, bakery products, fruits and vegetables.

Plastic food container market players cover segment as dairy products will dominate the market share during forecast period.

Meat products require robust packaging to prevent contamination and to preserve freshness. Packaging for meat often needs to be airtight and capable of handling cold storage conditions.

Dairy products like milk, cheese, yogurt, and butter require packaging that can maintain freshness and prevent spoilage. The packaging often needs to be resistant to moisture and fat.

Bakery products such as bread, cakes, and pastries often require packaging that protects against physical damage, maintains freshness, and provides visibility to the product.

Packaging for fruits and vegetables needs to protect delicate produce, allow for adequate ventilation and modified atmosphere packaging to extend shelf life.

DRIVING FACTORS

"Dairy Sector Increasing The Sale Of Plastic Food Containers To Boost The Market Growth"

Increase in sale of rigid plastic food containers across the world is due to rise in demand for dairy products. Rigid plastic food containers are shatter and crush resistant, are cheap, lightweight, and have a flexible shape. These factors are driving their demand. Dairy products such as yogurt, cheese, butter, and sour cream are packaged in rigid plastic food containers.

"Technological Advancement and Innovation To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the plastic food container market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices. Innovation in packaging is being introduced as millennial prefer to consume packaged foods on the go.

RESTRAINING FACTOR 

"Changing Consumer Preferences To Hamper The Market Growth"

Some factors are restraining its extension such as changing consumer likings. Companies have to invest significantly in innovative designs that appeal to customers which makes it difficult for market players to keep up with changing preferences. As a result, changing consumer preferences is expected to hamper the global food container market growth during the forecast period. Technical difficulties will reduce the industry revenue.

PLASTIC FOOD CONTAINER MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market Due To Increasing Population And Changing Lifestyle"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

Asia Pacific is further expected to witness growth in the plastic food container market share. The region is dominating the market due to growing population and changing lifestyle. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled 

• Amcor (Australia)
• Berry Plastics (U.S.)
• Silgan Holdings (U.S.)
• Coveris  (U.K.)
• Graham Packaging (U.S.)

INDUSTRIAL DEVELOPMENT

March 2023: Graham Packaging, an industry leader in the design and manufacturing of innovative and sustainable packaging solutions, is proud to announce the release of its 2022 Environmental, Social and Governance (ESG) Report. 

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.