The global Hinged Food Containers Market is anticipated to accumulate a market value of USD 87.4 billion in 2023 and is expected to garner a valuation of USD 145 billion by exhibiting a CAGR of 5.1 % in the forecast period 2023 to 2033. The hinged food containers market reflected a growth of 3.9% CAGR in the historical period 2018 to 2022.
Increasing urbanization, growing population, and changing lifestyles are increasing the demand for meat and fish in markets, which is propelling the demand for hinged food containers. Meat and fish require more preservation which is why the demand for innovative food storage containers increases.
The convenience that these containers offer in terms of packaging, carrying and consumption has become quite important to many consumers. As a result, manufacturers are keeping up with the changing lifestyles of their customers which is positively benefiting the market growth.
Over the projection period, changing lifestyles and busy schedules among the working population are expected to positively impact market growth. Moreover, increasing consumption of processed and packaged foods is also anticipated to drive the hinged food container market demand in the coming years.
Hinged lid food containers keep the food products fresh which enables the food for secure transportation. The need for food containers has been burgeoning owing to the growing population, rising take-out services, and changing eating habits of people.
On the other hand, the government manages greenhouse gas emissions in the food and beverage industry and is anticipated to fuel the demand for recyclable packaging solutions such as PET-hinged food containers. This factor is expected to create lucrative prospects for the expansion of the hinged food container market during the forecast period.
The market is also been aided by the huge increase in global food output. The demand for convenient packaging that is easy to carry, and store and allows instant consumption of food is likely to rise. Therefore, hinged-lid container manufacturers must keep up with the changing consumer tastes.
Apart from this, the increasing number of employed women, the proportion of households consuming packed foods, and substantial growth in double-income households are boosting the industry for hinged-lid food containers. The population growth in metropolitan areas and the rising number of single-person households are anticipated to increase product sales during the forthcoming period.
The rigid format hinged lid containers known as PET-hinged containers are generally used to package food products. These packaging options give the product a more aesthetic appearance and feel, allowing manufacturers to increase the product’s maximum selling price and boost revenues.
Due to their advantageous qualities, like lightweight, aesthetic appearance, transparency, resistance to environmental elements like rain, dust, and sunlight, high load-bearing capacity, and durability, among others, PET-hinged containers are gaining popularity throughout the packaging industry.
Because of these reasons, food packaging services are employing these hinged containers for packaging fresh produce fruits & vegetables, meat, snacks, bakery products, and others. This is fuelling product sales even more. Region-wise, North America is expected to dominate the market by accounting for over 40% share by end of the forecast period.
The growth is attributed to surging packaged product consumption, rising acceptance of small-sized food containers in the home, and rising demand for fresh food.
The region is one of the biggest producers and exporters of fruits & vegetables across the globe. The meat and poultry sector also accounts for a significant share of the North American market, which is anticipated to directly benefit the growth of hinged containers used in the packaging of meat products.
The Asia Pacific market is expected to grow with a CAGR of 5% during the projection period. Factors such as rising household income, growing middle-class population, rapid urbanization, and changing lifestyles of the populace are expected to drive market growth in the region. Furthermore, the strong presence of the food processing sector is also supporting the region’s growth.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | USD 87.4 billion |
| Projected Market Value in 2033 | USD 145 billion |
| Growth Rate (2023 to 2033) | 5.1 % CAGR |
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Recent developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing hinged food containers are expected to create lucrative opportunities for market growth during the forecast period.
Demand for hinged food containers will witness a steady recovery in the short term, with an optimistic growth outlook in the long run. Shifting consumer preference towards packaging materials with lightweight features is expected to drive the market.
In addition, the Growing popularity of packaging for fresh and chilled food as per the convenience of the consumers is expected to drive the need for hinged food containers.
The transforming customer lifestyle where the consumer desires the foodstuff to continue to be fresh for a longer period is likely to generate demand for hinged food containers.
Increasing long work duration by the middle-class population is expected to promote the scope of packaged mediums for keeping food warm and fresh. The growing number of online deliveries is generating demand for the same.
Besides, another contributing factor to the growth of this segment is cost-effectiveness. It has been observed that the average cost of plastic containers is one-third of the stainless steel-based product type.
Furthermore, technological advancements in terms of the development of lightweight plastics as rust-free alternatives to metals are projected to expand the customer base shortly.
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The hinged food containers market is primarily driven by the accelerated growth of the global retail sector as these containers are being extensively preferred for various tertiary packaging solutions. Moreover, these containers are used tremendously for ready-to-go packaged products to protect them during shipping and transportation.
The global insulated food containers market size was valued at USD 1.8 billion in 2020. The growing popularity of insulated packaging for providing fresh and chilled food as the convenience of consumers is expected to remain a favourable factor for market growth in the forecast period.
Moreover, growing social media influence among consumers is driving people to spend more on food and personal hygiene products. A large population in the corporate sector, schools, and colleges is creating significant demand in this region.
The United States and Canada have a considerable need for compostable items. Hence, pivoted cover compostable container market has a high share market in northern as well as Latin American nations.
Also, awareness concerning the use of bio-degradable over plastic has been enhanced throughout the world, and the growth of the hinged compostable container market is forecasted to grow fast.
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Europe's government have strict guidelines on the usage of plastic. Climbing consumer awareness towards the usage of naturally degradable items is expected to boost the pivoted hinged food container market in the region. Pivoted cover compostable container market has far better chances to expand.
In addition, the rapid growth of the e-commerce industry in the region creates lucrative market opportunities for producers to enter the market to gain a competitive market share, thus leading to product demand.
Some of the leading manufacturers and suppliers of sneaker deodorant market include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Product Type 6.2. Type 6.3. End-Use 6.4. Price 6.5. Sales Channel 7. Global Market Analysis and Forecast, By Product Type 7.1. Food Grade Plastic 7.2. Microwave Safe 7.3. Freezer Safe 7.4. Easily Stackable 7.5. Others 8. Global Market Analysis and Forecast, By Type 8.1. Size & Volume 8.2. Material 8.3. Shape 9. Global Market Analysis and Forecast, By End-Use 9.1. Ice cream & Dairy Products 9.2. Fast Food & Ready Meals 9.3. Meat, seafood & poultry items 9.4. Fruits & Vegetables 9.5. Bakery & confectionery food items 9.6. Frozen food 10. Global Market Analysis and Forecast, By Price 10.1. Below USD 0.25 10.2. USD 0.25 - USD 0.50 10.3. USD 0.50 - USD 0.75 10.4. USD 0.75 - USD 1 11. Global Market Analysis and Forecast, By Sales Channel 11.1. Hypermarkets/Supermarkets 11.2. Convenience Stores 11.3. Online Retailers 11.4. Other Sales Channel 12. Global Market Analysis and Forecast, By Region 12.1. North America 12.2. Latin America 12.3. Western Europe 12.4. Eastern Europe 12.5. Asia Pacific 12.6. Japan 12.7. Middle East and Africa 13. North America Sales Analysis and Forecast, by Key Segments and Countries 14. Latin America Sales Analysis and Forecast, by Key Segments and Countries 15. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 16. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 17. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 18. Japan Sales Analysis and Forecast, by Key Segments and Countries 19. Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries 20. Sales Forecast by Product Type, Type, End-Use, Price, and Sales Channel for 30 Countries 21. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 22. Company Profile 22.1. Cambro, Zojirushi America Corporation 22.2. Carlisle Food Service Products 22.3. Thermos L.L.C. 22.4. Dart Container Corporation 22.5. Stanley Black & Decker, Inc. 22.6. Hamilton Housewares Pvt. Ltd. 22.7. Genpak LLC. 22.8. Great Northern Corporation 22.9. Reach Plastic Industrial 22.10. lhzt Co., Ltd. 22.11. Infocom Network Limited 22.12. Styrotech, Inc. among others
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Hinged Food Containers Market
