U.S. Food Container Market Analysis By Product (Flexible Packaging, Paperboard, Rigid Packaging, Metal, Glass), By Application (Grain Mill Products, Dairy, Fruits & Vegetables, Bakery), And Segment Forecasts, 2014 - 2025
The U.S. food container market is projected to reach USD 51.92 billion by 2025, according to a new report conducted by Grand View Research, Inc. Rising expenditure towards improving nutritional supplementation by gym professionals and athlete is expected to promote the usage of milk and whey ingredients in the formulation sports nutrition goods. In addition, product innovation in baby care products including infant milk formula by Unilever and Nestle in the U.S. is expected to upscale the requirements of containers as packaging medium for milk powder and whey ingredients over the forecast period.
Meat processed goods are projected to grow at a CAGR of 4.7% from 2016 to 2025. High prevalence of production sites of meat processing companies including Tyson Foods, JBF, Cargill and National Beef is projected to keep extensive market reach for packaging products over the next nine years.
Further key findings from the report suggest:
U.S. food container industry is expected to reach USD 51.92 billion by the end of 2025, expanding at a CAGR of 3.4% from 2016 to 2025. Product innovation by convenience food manufacturers is expected to remain a key driving force in the near future.
Flexible packaging is expected to foresee revenue growth at a CAGR of 4.0% from 2016 to 2025. Shifting inclination from conventional glass and metal to lightweight polymers including polyethylene (PE) and polyvinyl diene chloride (PVC) as a raw material for packaging of food items is expected to be a favorable factor.
Paperboard market was valued at USD 7.69 billion in 2015. The product is expected to foresee significant gains in packaging dry goods including chips, sausages, burgers and sandwiches.
Bakery products are projected to account for 17.8% of global market share by the end of 2025. Increment in sales of Pizza Crusts, Cakes & Pastries as a result of product innovation by bakery processing companies including Group Bimbo is expected to expand the scope of packaging.
Key vendors include Berry Plastics, Bemis, Silgan Holdings, Amcor, Ball Corporation, Ardagh Group, Sealed Air Corporation, and Graham Packaging. In October 2013, Silgan Holdings Inc. completed the acquisition of leading plastic closure manufacturer, Portola Packaging, Inc., for approximately USD 265 million. This acquisition is expected to result in increasing the availability of plastic closures for the captive production of containers used in the food & beverage industry.
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