Overview of the glass or ceramic food canisters market
The overall food storage containers (including canisters) generated a total revenue of $x.x billion globally and expected to grow annually by 4%. By type of material, the glass segment (which will include ceramics) is estimated to have generated a total amount of $xxx million in a global scale and about $xx million in the United States.
We have determined that for a company who would enter the United States’ glass or ceramics food canister market, the total defined target audience could reach up to xxx million consumers. Assuming that a company will fully penetrate these demographics, the possible total revenue could reach up to $x.xx billion. We’ve presented different assumptions at a specified market share, together with the expected value in the findings below.
Some notable competitors that offer similar products and price points that have entered the United States market are Anchor Hocking, Gracie Oaks, Fleur De Lis Living, Rae Dunn, Hearth and Hand With Magnolia, and Honey-can-do.
Defining Your Target Audience
For a company that is launching or introducing a glass or ceramic food canisters products in the United States, the target market would be the total household population that favor the use of glass or ceramics for food storage in the US and/or Americans who likely are ready to adopt glass and ceramics for food storage. Most likely, they do not use or purchase disposable or plastics containers cause they are favoring sustainability.
Before we deep dive into the total addressable market analysis for glass or ceramic food canisters products in the United States, we will first look at the current market trends and the actual market size of this industry.
Glass or ceramic food canisters market size
According to the latest market study, the global food canisters or food storage containers market is expected to reach $xxxx million by 2021, growing at a CAGR of close to 4%. We will first breakdown the figures based on annual market size.
[Global food canisters or food container storage annual market size]
2019: $xxxx million
2020: $xxxx million
2021: $xxxx million
2022: $xxxx million
2023: $xxxx million
In terms of shape, the study revealed that the round shape is preferred by consumers accounting for 41.57% of the overall market, followed by square shape at 32.12% and rectangle at 26.31%. The end-users opt for round containers to store dry ingredients as it does not leave any space for the food to get stuck. The dry foods include flour, sugar and salt, dried beans and peas, ready-prepared cereals, canned and bottled foods (unopened), cereals, rice and other grains, and bread. The round containers are considered to take more space as compared to the rectangular and square containers as the curves of the round containers does not allow them to sit flush next to each other.
In the overall food container industry, glass containers accounts for approximately xx% market share of the total while reports revealed that plastic containers are still by end-users. Assuming that the glass market share similarly resembles the food storage or canisters markets, then the estimated value globally would be as per below.
[Global glass food canisters or food container storage annual market size]
The United States accounts for xx% of the total market.
[United States glass food canisters or food container storage annual market size]
Accordingly, one major trend to expect in the future is the rise in demand for glass containers. Glass storage containers generally have a plastic lid that helps in keeping the food airtight. These containers are available in clear, frosted, and colored glasses.
There are several advantages of glass containers such as longevity and they keep the food fresh for longer periods as compared with other food storage containers. Many end-users prefer glass containers, which are specifically designed for use in freezing and preheating purposes.
Total Addressable Market (TAM) of the glass or ceramic food canisters
We will define the TAM as the following. TAM or Total Addressable Market is the total market demand for a product or service. In this research, the target audience for the TAM are households that favor the use of glass or ceramics for food storage. SAM or Serviceable Available Market is the segment of the TAM targeted by your products and services which is within your geographical reach or a market that is readily attainable. SOM or Serviceable Obtainable Market is the portion of SAM that you can capture.
TAM values calculation
To calculate the TAM value, or the possible revenue figure assuming a 100% penetration of the target audience, we used the average pricing. We will use this value to determine possible TAM value.
TAM value assuming a 100% penetration of the target audience
= $x.xx billion
In the above TAM value, we assumed that one consumer would purchase just 1 item. Which means that if by average one adult person in the United States purchases 10 glass food container storage, then the possible TAM value can even reach up to $xx billion. In this research, we will just assume one person would purchase one food glass or ceramics canister.
Serviceable Available Market (SAM) of the glass or ceramic food canisters
While we have determined the total addressable market value, we also narrowed down the figures by analyzing the number of Americans who likely are ready or who currently use storage containers that are not disposable or plastics. These demographics surely are those that would likely purchase glass or ceramics for food storage.
Serviceable Obtainable Market (SOM) of the glass or ceramic food canisters
To determine the size of your obtainable market, we analyzed the possible competitors and their captured market. In the United States, there are about 1,922 companies that are manufacturing ceramic products including kitchen wares. Assuming that each company has equal market shares, then the total possible revenues for each would be as per below.
|Target Audience||Possible revenues|
|TAM (Based on the number of household population that favor |
the use of glass or ceramics for food storage.in the US)
|SAM (Based on the number of Americans who likely are ready or who currently use storage containers that are not disposable or plastics)||$ billion|
Based on the number of Americans who likely purchase food canisters per company assuming equal shares)
Based on the number of Americans who likely purchase food canisters assuming a 1% market share
Based on the number of Americans who likely purchase food canisters assuming a 2% market share
Based on the number of Americans who likely purchase food canisters assuming a 5% market share
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Glass or ceramic food canisters market analysis in the United States
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