The Asia Pacific Food Container Market would witness market growth of 7.4% CAGR during the forecast period (2021-2027).
A food container is a container that is primarily used for food storage, transportation, and preservation in order to extend the shelf life of food and provide convenience in handling. The market is being driven by a rise in awareness of sustainability issues and environmental challenges associated with food packaging. This will also ensure that consumers receive high-quality food. Another reason driving up demand for pre-packaged, ready-to-eat food is changing lifestyles. This is very frequent in urban areas to keep food quality high. Also, when food is left out too long, it might attract germs and fungi, but this issue can be addressed with the help of food container.
The availability of food containers in the form of the plastic bag makes them highly popular among the consumers residing in this region. Additionally, the growing significance of flexible packaging material in the nutrition sector as it showcases excellent characteristics such as better heat insulation, aroma retention, and moisture barrier resistance would boost the growth of the regional food container market over the forthcoming years.
Some of the major drivers for the regional food containers market are the recyclable and reusable properties of the cans, nutritional property, and accessibility of different kinds of convenient food alternatives like ready-to-eat, ready-to-serve, and ready-to-heat. Moreover, many manufacturers understand the fact that packaging is the first thing that grabs the consumers’ attention. Therefore, they are constantly evolving the design and features of the food containers in order to suit to the changing preferences of the consumers. These are some of the factors that are boosting the demand for the regional market.
The Plastic market dominated the India Food Container Market by Material in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $10747.2 Million by 2027. The Metal market is expected to witness a CAGR of 8.1% during (2021 - 2027).
Based on Product, the market is segmented into Cans, Boxes, Bottles & Jars, Cups & Tubs, and Other Product. Based on Material, the market is segmented into Plastic, Metal, Glass and Other Materials. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Food Container Market is Projected to reach USD 223.2 Billion by 2027, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amcor PLC, Berry Global Group, Inc., Silgan Holdings, Inc., Plastipak Holdings, Inc., Ball Corporation, Novolex Holdings, Inc., Ardagh Group S.A., Sonoco Products Company, Weener Plastics Group BV, and Tetra Laval International S.A.
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