As per Future Market Insights research, the global food tub packaging market is poised to reach a valuation of US$ 570.2 Million in 2022, with a projected expansion at a CAGR of 5.1%, ultimately reaching US$ 937.7 Million by 2032. The growth of the food tub packaging segment is expected to be reinforced, with the top 5 providers capturing a market share of 15 to 20% in the global food tub packaging market as of 2021.
The USA’s robust dairy product exports, valued at around US$6.5 Billion annually to over 133 countries, contribute significantly to the North American food tub packaging market, constituting approximately 80% by the end of 2022. This surge in demand is driven by the increasing popularity of dairy products, favored for their nutritional benefits and convenience, aligning with a growing health-conscious consumer base. The substantial export volume amplifies the need for food tub packaging, accentuated by the rising consumer preference for packaged food products.
In India, the food tub packaging market is poised for significant growth, projected to reach 1.6 times its current value by 2032. The burgeoning demand for ice cream, driven by a youthful population, a growing middle class with increased disposable income, and the warm climate, propels the need for food tub packaging. This trend underscores the pivotal role of food tub packaging in accommodating the rising consumption of ice cream in India.
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The Key Players Are:
- Amcor plc
- Sonoco Products Company
- Huhtamaki OYJ
- Berry Global Company
- Magnum UK
- Polyoak Packaging
- Argento Plastic Manufacturers
- Innovations
- Bergen Plastics AS
- Pact Group Holdings Ltd
- Shalam Packaging
- Greiner Packaging
- Parkers Packaging
- Interpack Ltd.
- INSTA POLYPACK
Competitive Landscape
- In November 2022, Berry Global developed a new non-carbon black version to replace the previous carbon black color containers for Diplom-Is’s Royal brand.
- In October 2022, Huhtamaki OYJ launched an innovative, recyclable ice cream packaging solution in the USA, made with 95% renewable biobased material.
- In June 2022, Pact Group Holdings Ltd acquired Synergy Packaging Pty Ltd. to deliver innovative solutions which can reduce waste and enhance sustainability.
Customization Trend Bolster the Demand for Food Tub Packaging
The burgeoning trend of customization is playing a pivotal role in driving the demand for food tub packaging in the market. Consumers today, more than ever, seek personalized and tailor-made food products that cater to their unique preferences and lifestyle choices. Food tub packaging offers an ideal solution for brands and manufacturers to meet this demand for customization.
Customization in food tub packaging extends beyond just aesthetic appeal; it also involves accommodating various portion sizes, dietary requirements, and convenience features. Whether it’s personalized labels, innovative shapes, or packaging that facilitates easy handling, customization adds value to the consumer experience.
Furthermore, the rise of niche and specialty food products has contributed to the customization trend, with brands seeking distinctive packaging solutions to stand out on the shelves. This growing emphasis on tailored packaging not only enhances brand visibility but also aligns with the evolving preferences of modern consumers who value uniqueness and individuality in their food choices.
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Food Tub Packaging Market by Category
By Material
- Polyethylene (PE)
- High-Density Polyethylene (HDPE)
- Low-Density Polyethylene (LDPE)
- Polypropylene (PP)
By Capacity
- Up to 250 ml
- 251 – 500 ml
- Above 500 ml
By Application
- Ice Cream & Dairy Products
- Ready-to-Eat (RTE) Products
- Frozen Food
By Region
- North America
- Latin America
- Europe
- Middle East & Africa
- South Asia
- East Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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