Yahoo Finance United States Food Storage Container Market Forecast Report 2024, with Key Player Profiles for Amcor, Berry Global, Newell Brands, O-I Glass, Silgan Holdings and Tupperware - Forecasts to 2029
DUBLIN, March 11, 2024 /PRNewswire/ -- The "US Food Storage Container Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The U.S. food storage container market was valued at USD 36.15 billion in 2023 and is expected to grow at a CAGR of 2.67% from 2023 to 2029, reaching USD 42.36 Billion by 2029.
The plastic material segment dominated the U.S. food storage container market with a share of over 50% in 2023. The segment's growth is due to its affordability, versatility, lightweight, leakproof & airtight properties, and durability. Plastic is generally known as the most affordable material for food storage containers, making it more accessible to a wide range of consumers.
The jars, canisters, & cans product segment is growing significantly, with the fastest CAGR of 2.74% during the forecast period. The segment's growth is rising significantly due to growing demand for portion control and meal preparation, increasing focus on food safety & preservation, and rising popularity of sustainable & reusable options.
The residential sector has the highest market size in terms of revenue in the end-user segment of the U.S. food storage container market. The demand for food storage containers from the residential segment is growing significantly due to various factors, including cooking habits, income level, and regional preferences. Frequent meal preparation may require various containers. Bulk buying habits and larger families may lead to demand for sets and larger containers for storing dry goods like flour and grains.
Online stores are the fastest-growing segment, with a CAGR of 3.74% of the distribution channel segmentation in the U.S. food storage containers market. Many online platforms provide same-day delivery options, giving convenient access to containers. As consumers can see detailed product information and user reviews, it helps make informed decisions and helps drive the market.
MARKET TRENDS
Increasing Demand for Glass Containers: Demand for glass containers is growing significantly in the U.S. market due to various reasons, including health concerns, increased focus on sustainability, rising demand for transparent containers, improved functionality, and premium perception. Glass containers are durable and known for storing food for a longer period. Glass is a non-porous material which does not leach chemicals. Thus, it is one of the ideal options for food storage. Glass containers are easily available in nearby supermarkets and specialty stores in various sizes and shapes. It makes them more versatile for the storage of food. Currently, many glass containers are dishwasher-safe, microwave-safe, and oven-safe. Thus, it is more convenient for consumers. Glass containers are more upscale and stylish than plastic containers. It drives the demand for food storage containers in the U.S. market during the forecast period.
Growing Popularity of Sustainable Containers: The popularity of sustainable containers is significantly increasing in the U.S. market for various reasons, including environmental concerns, consideration of health, innovations, and marketing of products. With rising pollution and its environmental impact, consumers are looking for food storage products made of biodegradable and reusable alternatives. The potential risks of using harsh chemicals in plastic containers are a significant concern in the U.S. market. Food storage container manufacturing companies offer new innovative, sustainable products made from glass, bioplastic, stainless steel, and bamboo. 70% of the Gen Z population in the U.S. is willing to pay more for sustainable products. During the forecast period, it drives the demand for food storage containers in the U.S. market.
VENDOR LANDSCAPE
The U.S. food storage container market report contains exclusive data on 50 vendors. The U.S. food storage container market is highly fragmented due to a larger number of players ranging from regional, small manufacturers to large, international players.
The top 5 companies occupy only 30% of the market share. Amcor PLC, Berry Global Inc., Newell Brands, O-I Glass, Inc., Silgan Holdings Inc., and Tupperware Brands Corporation are the leading players with strong market penetration.
KEY QUESTIONS ANSWERED
How big is the U.S. food storage container market?
What is the growth rate of the U.S. food storage container market?
What are the growth drivers of the U.S. food storage container market?
Who are the key players in the U.S. food storage container market?
SEGMENTATION & FORECAST
Material
Plastic
Glass
Metal
Others
Product
Jars, Canister, & Cans
Boxes & Bins
Bags & Pouches
End-User
Residential
HoReCa
Others
Distribution Channel
Supermarket & Hypermarket
Specialty Stores & Retail Stores
Online Stores
VENDORS LIST
Key Vendors
Amcor PLC
Berry Global Inc.
Newell Brands
O-I Glass, Inc.
Silgan Holdings Inc.
Tupperware Brands Corporation
Other Prominent Vendors
Anchor Hocking, LLC
Corelle Brands
Crown Holdings, Inc.,
Helen of Troy Limited
Lock & Lock Co., Ltd.
Plastipak Holdings, Inc.
S.C. Johnson and Son
Sonoco
The Container Store
The Clorox Company
Better Homes & Gardens
Blue Gingko
Cambro Manufacturing Co.
Caraway
Carlisle Companies Inc.
Chef's Path
Constar International Inc.
Container Supply Co. Inc.
Dart Container Corporation
Dwellza
Genpak
GLASSLOCK USA Inc.
Komax USA
Le'raze Decor
Lifetime Brands, Inc.
Lindar Corp.
Molded Fiber Glass Company
Moss & Stone
Novolex
Pactiv Evergreen
Polytainers Inc.
Prepara
Progressive International Corporation
Ring Container Technologies
Sealed Air Corp.
The Home Depot
The Vollrath Co. LLC
Thermos LLC
U.S. Plastic Corp
Vremi
Vtopmart
Weener Plastics Group BV
Yamazaki Home
Zwilling
For more information about this report visit https://www.researchandmarkets.com/r/cjarzu
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