Operators in the global food and beverage industry are giving increased importance to maintaining food hygiene practices. This can be largely attributed to the higher levels of health awareness among consumers and increased initiatives by government bodies with the aim of minimizing contamination of food, during transportation processes. These factors have a key role to play in the developments of the sanitary food and beverage packaging market.
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The sanitary food and beverage packaging market has witnessed a strong growth rate with the substantial increase in demand for packaged food and beverages in recent years. The high consumer demand for ready to eat variants of food products is one of the key factors that is pushing the sanitary food and beverage packaging market forwards. The developments in the market can also be potentially influenced by factors such as:
- The Asia Pacific excluding Japan region is projected to provide highly lucrative opportunities of growth owing to high levels of demand for these packaging materials from emerging economies such as India and China. This can be further attributed to the rapidly moving trend of urbanization, rising awareness, and disposable income among consumers in these countries, which has pushed food and beverage manufacturers into making use of such food safety measures.
- The sanitary food and beverage packaging products can be broadly classified into rigid plastic, metal, paperboard, and flexible plastic among others. Of these, the sanitary food and beverage packaging market is witnessing a relatively stronger growth rate to paperboard packaging. This can be attributed to easy availability and low costs of this material.
- The United States is displaying a strong rate of growth in the regional sanitary food and beverage packaging market owing to the recent introduction of the Food Safety Modernization Act by the Food and Drug Administration of the country. Such combinations of government regulations and changing consumer demand will assist in the growth of the overall sanitary food and beverage packaging market for the foreseeable future.
The global is likely to grow at a CAGR of nearly 6% during the forecast period 2017-2021. These insights are according to a new market research report from market intelligence and consulting firm Future Market Insights (FMI). According to the report, increasing emphasis on maintaining food safety during the supply chain is promoting investments by manufacturers.
Globally, emphasis on maintaining hygiene is on an increase. Regulatory bodies from around the globe are making revisions to food safety guidelines, with an aim to ensure safety of the product. The U.S. FDA in 2016 published a new set of guidelines under the FSMA rule. These guidelines focus on safety of food products during transportation. As compliance rate increases, demand for sanitary food and beverage materials and products is also likely to witness an increase.
In a bid to give readers detailed analysis on the sanitary food and beverage packaging market, the report offers segmentation on the basis of packaging type and product type.
Paperboard Segment Accounts for Significant Market Share by Packaging Type
By packaging type, the key segments include paperboard, metal, rigid plastic, flexible plastic, glass, and ‘others’. Among these, demand for paperboard is currently the highest among end-users. According to the report, paperboard accounts for nearly 34% revenue share on the basis of packaging type. Demand for paperboard in end-use industries is augmented by its low price and easy availability.
On the basis of product type, the key segments include milk & other beverage cartons, cups & liquid tight containers, folding food containers, boards & trays, and other product types. Among these, milk & other beverage cartons segment accounts for nearly one-fourth revenue share of the global market. Future Market Insights projects this segment to grow at a CAGR of 7% throughout the forecast period. The cups & liquid tight containers segment is also likely to grow at a stable CAGR during the forecast period.
North America and APEJ Remain Lucrative Markets Globally
North America and APEJ represent two of the most lucrative regions in the global sanitary food and beverage packaging market. Demand for sanitary food and beverage packaging in APEJ is on the basis of high volume, whereas, the North American market is characterised by emphasis on innovative technology. Rising disposable income and urbanization are the key macroeconomic factors boosting the demand for sanitary food and packaging globally.
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Vendor Analysis
A key highlight of Future Market Insights’ analysis on the global sanitary food and packaging market is a detailed analysis on the key players in this market. The report has profiled the key players in the global sanitary food and beverage packaging market. The key players profiled in the report include Chuo Kagaku Co., Karatzis S.A., Ball Corporation, Silgan Containers, LLC, FP Corporation, Ltd., Kaira Can Company Limited, Crown Holdings, Inc., and Canfab Packaging Inc.