Global Food Container Market 2015-2019
About Food Containers
The food industry is the largest of all industries in the world and plays an important role in the economy of any country. The global food and beverages market is expected to reach $5.77 trillion by 2017, growing at a CAGR of 5.02%. As food products need to be preserved for a long period, they are packaged in extremely protective and durable containers. An increased demand for ready-to-eat food has brought about a transformation in the packaging industry. The food packaging market is witnessing the emergence of many new and innovative packaging containers and techniques that can increase the shelf life of a product.
Technavio's analysts forecast the global food container market to grow at a CAGR of 4.08% over the period 2014-2019.
Covered in this Report
The global food container market can be categorized into three segments: rigid plastic, metal, and glass containers.
Technavio's report, Global Food Container Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.Key Regions
Technavio Announces the Publication of its Research Report – Global Food Container Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Food Container Market: Amcor, Ball, Crown Holdings and Silgan Holdings
Other Prominent Vendors in the market are: Bemis, DS Smith, Graham Packaging, Linpac Packaging, MeadWestVaco, Mondi Group, Reynolds Group Holding, RockTenn, Saint Gobain, Sealed Air and Stora Enso
Commenting on the report, an analyst from Technavio’s team said: “Increased demand for plastic-based packaging among consumers and industrial buyers is propelling market growth. Both rigid plastic and flexible plastic packaging products are gaining market share over other packaging materials because of the durability and versatility offered by plastic packaging. In addition, plastic containers are lightweight, which in turn helps in reducing shipping and handling costs for vendors. The demand for PET bottles, containers, and stand-up pouches is replacing the demand for cans, jars, and cartons.”
According to the report, urbanization, rising middle class population, and increased disposable incomes in South America, Eastern Europe, Middle East, and APAC have resulted in an increased demand for packaged food. Quality is the consumer's prime concern when making purchases and is inclusive of parameters such as convenience, aesthetic appeal, taste, and nutrient content. Brand image is built on consumer evaluation of these parameters. To cater to the growing demand, vendors are developing intelligent packaging solutions that monitor freshness, improve safety and convenience, and extend product shelf life. Also, increased demand for single size containers drive the market growth.Further, the report states that vendors in the market have to increasingly spend on R&D to develop packaging products that do not react with the contents inside.
Amcor, Ball, Crown Holdings, Silgan Holdings, Bemis, DS Smith, Graham Packaging, Linpac Packaging, MeadWestVaco, Mondi Group, Reynolds Group Holding, RockTenn, Saint Gobain, Sealed Air, Stora Enso
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