DUBLIN--(BUSINESS WIRE )--The "Household Food Storage Containers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Valued to be $31.1 Billion by 2026, Household Food Storage Containers Slated for Robust Growth Worldwide
Amid the COVID-19 crisis, the global market for Household Food Storage Containers estimated at US$24.8 Billion in the year 2022, is projected to reach a revised size of US$31.1 Billion by 2026, growing at a CAGR of 4.2% over the analysis period.
The global market is growing at a brisk pace due to interplay of favorable factors like robust household demand, rapid urbanization, rising consumption of packaged foods and increasing disposable income. The market growth is augmented by rising share of women in working population, changing lifestyles and increasing number of double-income families.
Factors such as busy lifestyles, particularly in developed countries, are prompting customers to opt for quality containers to maintain food quality and reduce wastage. Consumers are increasingly opting for high-quality, micro able, airtight, leak-proof, and aesthetically appealing household food storage containers, driving manufacturers to focus on evolving consumer preferences.
Growing demand for food containers to store ready-to-eat meals, convenience foods, cake mixes, frozen dinners, desserts and snacks is prompting manufacturers to push up production capacities. In addition, availability of a broad range of product options coupled with continuous expansion of the application scope is slated to open new growth avenues for household food storage containers.
The food container market is led by the rigid packaging segment that claims the major share and is likely to maintain its strong position over the coming years. High uptake of rigid packaging is attributed to superior barrier qualities, impact strength and stiffness of the packaging option. Rigid food storage containers boast an extended lifespan and are gaining from strong demand for packaged food items owing to rapid urbanization and changing lifestyles.
Rigid packaging is set to benefit from continuous expansion of the beverage industry that is dominated by energy drinks and alcoholic beverages. On the other side, the flexible packaging segment is estimated to post the fastest growth due to increasing demand for thin-film packaging that presents an effective protective medium to extend shelf life of various processed foods in the nutritional domain.
The food container market is witnessing high demand for bags and pouches. These container options are gaining from their compelling merits like convenience, portability, visual appeal and effective freshness protection. Bags and pouches are anticipated to witness new growth avenues owing to their benefits like impressive branding opportunities and product differentiation.
By function, the household food storage container market is dominated by the storage segment due to increasing need to preserve food items to allow their use for extended periods.
In terms of purpose, the market is led by the airtight container category. The segment is gaining from rising demand for leakage-proof food storage containers intended to protect food from spoilage.
By shape, the square format remains the primary option and is highly popular in Asia-Pacific due to more convenient manufacturing process in comparison to other container shapes.
By appearance, the household food storage container market is led by the transparent format as it is free-from chemicals and holds a strong visual appeal.
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900