The global rigid food containers market is likely to grow at a steady CAGR of 4% during the forecast period 2017-2022, and reach nearly US$ 80 Bn in revenues. The growth of the market will be largely fuelled by the broader macroeconomic trends as well as specific factors in the food sector. These insights are according to a new research report added to the repository of Market Research Reports Search Engine (MRRSE). The report titled “Rigid Food Containers Market: APEJ to Remain Dominant in Global Rigid Food Containers Market: Global Industry Analysis (2012 – 2016) & Opportunity Assessment (2017 – 2022)” offers in-depth analysis and insights on the key factors shaping the global rigid food containers market during the assessment period.
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According to the report, rising disposable income, changing lifestyles, and urbanization are fuelling the demand for packaged and convenience foods. Owing to the rising demand for these food products, manufacturers are focusing on using high-quality packaging materials. Rigid food containers present an excellent option to the food and beverage industry in terms of durability and longer shelf lives. These factors are influencing manufacturers to use rigid food containers in their offerings.
Steady growth in the global food trade is another key factor that has led to sustained demand for rigid food containers globally. Rigid food containers are widely used in transporting food materials over long distances. They offer added advantages as the materials used in manufacturing rigid food containers can be reused and recycled. Also, some of the limitations associated with flexible packaging can be mitigated by the use of rigid food containers.
According to the report, paper and paperboard are among the sought-after materials used for the manufacture of rigid food containers. Collectively, these product types account for nearly 80% revenue share of the global market. Owing to the cost-effectiveness and advantages over other materials, paper and paperboard will continue to find favor among manufacturers during the forecast period.
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Globally, the food industry demand more trays and bottles & jars in terms of packaging material. Owing to these, demand for rigid food containers in manufacturing trays, bottles, and jars will continue to account for significant revenue share of the market. Demand for trays, bottles, and jars from the ready-to-eat segment will remain prominent during the assessment period.
The leading companies profiled in the report include Packaging Corp. of America, Sealed Air Corp., Amcor Ltd., Berry Global Group, Inc., Crown Holdings, Inc., Smurfit Kappa Group PLC, Bemis Co., Inc., Ball Corporation, DS Smith PLC, Printpack Inc., Sonoco Products Co., and Huhtamaki Oyj.
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