Global – The global food container market size is expected to reach US$ 346.99 billion by 2025, according to a new report by Grand View Research, based in California.
Flexible packaging is expected to witness growth at a compound annual growth rate of 4.6% from 2016 to 2025. It is added that flexible packaging was the largest product segment in 2015, accounting for almost 42% of market share.
Meanwhile, rigid plastics is projected to foresee growth at a compound annual growth rate of 4.4% from 2016 to 2025. The global food container market size was valued at US$ 231.91 billion in 2015. Besides, paperboard products accounted for some 20% of global revenue share that year.
‘The excellent recycling ability of paperboard as compared to its plastics and glass counterparts is expected to remain a key influencing factor for industry in the near future,’ the researchers write.
‘The rising importance of bio-plastics packaging in the food & beverage industry as a result of stringent regulations aimed at recycling in the manufacturing sector is projected to expand industry size over the next nine years,’ they add.