Global Food Container Market to Reach $5.77 Trillion by 2015-2019

 

Research and Markets, Dublin, Ireland, has added the Global Food Container Market 2015-2019 report to its offering. The report has been prepared based on an in-depth market analysis with inputs from industry experts. It covers market landscape and growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market. 

The food industry is the largest of all industries in the world and plays an important role in the economy of any country, the report notes, pointing out that 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. 

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.