Food Container Plastic Market Growth Rate, Future scope, Analysis, Business Development and CAGR to 2023
Summary
Global Food Container Plastic Market Size, Share, Trends, Analysis, Growth —Type (Rigid, Flexible), Material (Plastic, Paper & Paperboard, Metal, Glass), Application (Fruits & Vegetables, Dairy, Meat Products, Frozen Food, Baked and Confectionary Products), Region — Forecast till 2023
Market Scenario
The popularity of quality, leakage proof, airtight, and aesthetically appealing products is leading to the demand for a variety of Food Container Plastics. Additionally, government regulations towards greenhouse emissions in the food and beverage industry are expected to drive the demand for sustainable packaging which can contribute to the growth of the market.
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Key Players
The key players of global Food Container Plastic Market include Bemis Company, Inc. (US), Berry Plastics Corporation (US), Crown (US), Graham Packaging Company (US), Graphic Packaging International, LLC (US), Ball Corporation (US), Constar International UK Ltd. (UK), Anchor Glass Container Corporation (US), Plastipak Holdings, Inc. (US), PRINTPACK (US).
Segmentation
The global Food Container Plastic market has been segmented based on type, material, application, product, and region.
On the basis of type, the market has been segmented into rigid and flexible packaging. Rigid containers are utilized extensively in the food & beverage industry for facilitating convenience in handling food products and preventing damages. Rigid packaging products have high stiffness, high impact strength, and high barrier properties. On the basis of material, the market has been segmented into plastic, paper & paper boards, metal, glass, and others. Plastic accounts for the highest share with respect to consumption in the manufacturing of Food Container Plastics followed by paper & paper boards. Glass storage containers generally have a plastic lid that helps in keeping the container airtight. These containers are available in clear, frosted, and colored varieties. The demand for glass containers is more because of its ability to keep the food fresh for a longer period as compared to other container types. On the basis of the product, the market has been segmented into bags, pouches, containers, and others. Bags and pouches will remain the largest category due to benefits of lightweight, portability, and convenience. Pouches are expected to make further inroads into rigid packaging applications due to cost and performance advantages.
Moreover, by application, the market has been segmented into fruits & vegetables, dairy products, meat products, frozen foods, and baked and confectionary. The dairy and frozen meat segment accounted for the highest market share in 2017 and is expected to continue to dominate the market. Frozen food was the leading segment and is expected to show strong growth.
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