USD 106.09 billion
Report ID:
SQMIG25I2015 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
96 |
Figures:
76
Plastic Containers Market size was valued at USD 106.09 billion in 2019 and is poised to grow from USD 109.8 billion in 2023 to USD 144.5 billion by 2031, growing at a CAGR of 3.5% in the forecast period (2024-2031).
Plastic resins such as polypropylene, polyethylene terephthalate, high-density polyethylene, and low-density polyethylene are widely used to make plastic containers. These can be found in a variety of shapes, including bottles, bottle jars, bowls, and pails, and are primarily used for packaging. These bottles are frequently used to package food, beverages, medicines, and cosmetics. Due to their strength, light weight, impermeability to moisture, and protection from sunlight, plastic-based containers are becoming more and more popular for packaging food goods. The market will be positively impacted by the rising demand for rigid packaging from food and beverage producers who want to extend the shelf life of their products and improve their aesthetic appeal to customers. Due to their consumer appeal and ease of manufacture, containers are becoming more and more used by food producers.
Due to its portability and light weight, plastic containers are predicted to experience significant expansion. Plastic packaging is becoming more and more popular among firms, including L'Oréal, Unilever, and PepsiCo, because it has a cheaper production cost. Additionally, it is anticipated that advancements in sophisticated materials, including LLDPE, combined with the growing significance of cost-effectiveness, would broaden the market's reach.
US Plastic Containers Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 106.09 billion
Largest Segment
Polyethylene Terephthalate (PET)
Fastest Growth
Polyethylene Terephthalate (PET)
Growth Rate
3.5% CAGR
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Global Plastic Containers market is segmented based on material, container type, end-use and region. Based on the material type, the market is segmented into Polyethylene Terephthalate (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), and others. Based on the container type, the market is segmented into bottles & jars, pails, tubs, cups & bowls, and others. Based on the end-use, the market is segmented into beverages, food, pharmaceuticals & cosmetics, FMCG, and others. Based on the region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Plastic Containers Market Analysis by Material Type
Based on the material type, the market is segmented into Polyethylene Terephthalate (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), and others. Among these, the PET segment is projected to hold the most substantial share in the market. This is attributed to the multiple properties possessed by PET. PET is a strong, lightweight plastic material. In terms of transparency, this type of polyester is very similar to glass. Due to its barrier qualities against water vapor, gases, oils, alcohols, and diluted acids, it is recommended for packaging food products and beverages.
Further, the HDPE is also preferred material for the manufacturing of containers. HDPE is a strong, rigid, and long-lasting material. This substance has good melt strength and stress or crack resistance. An effective moisture barrier is provided by using this resin in a moderately stiff impact-resistant bottle. The personal care, beverage, food, and chemical sectors all employ containers manufactured of this material heavily. Hence, this drives the growth of the HDPE segment in the market.
Plastic Containers Market Analysis by Container Type
Based on the container type, the market is segmented into bottles & jars, pails, tubs, cups & bowls, and others. Among these, the bottles & jars segment of the market is projected to hold the most substantial share in the market. Due to their use as packaging in the food, beverage, and pharmaceutical industries, bottles and jars are becoming more and more in demand. Plastic bottles and jars are inexpensive, leak-proof, and portable. As a result, they are regarded as the greatest alternatives to metal and glass bottles and jars. As a result, the market will develop as a result of the rising demand for bottles and jars from various industries.
Further, pails segment is also projected to hold a significant market share. High-density polyethylene and polypropylene are the main ingredients in pails. Plastic pails are increasingly in demand because of their exceptional qualities, including their light weight, chemical resistance, water resistance, and leak-free construction. The demand for plastic pails in the paint and chemical industries is anticipated to increase as a result of these characteristics. The segment's growth will be driven by the use of tubs, cups, and bowls for the packaging of food items like cheese, butter, yoghurt, and other single-use goods.
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In 2021, Asia-Pacific region is expected to have the biggest share of the market. With more than 30.0% of worldwide revenue, Asia Pacific dominated the plastic container market. Over the next few years, the regional market will mostly be driven by rising consumption of bottled water, soft drinks, and juice. Furthermore, over the course of the projection period, demand for plastic containers increased as a result of the existence of several producers of pharmaceutical and cosmetic products in China, India, and South Korea. Additionally, the expansion of the use of plastic containers is anticipated to occur over the projection period as a consequence of rising automobile manufacturing penetration in South Korea, China, and India as a result of favorable government efforts.
Further, North American region also had a substantial portion of the market. Spending on household cleaners is rising in the area as a result of increased awareness of health and hygiene. In turn, over the course of the projection period, this is anticipated to increase demand for plastic containers. The largest market in North America, the United States, held more than 75.0% of the market there in 2021. The largest portion is linked to expanding food convenience demand as well as rising functional beverage usage. Thus, these abovementioned factors are likely to drive the growth of the market in the forecast period.
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Plastic Containers Market Driver
Due to their strength and low weight, rigid plastic containers are becoming more and more popular in the food and beverage industries. These characteristics make food safe, extend its shelf life, and shield it from chemicals, light, and moisture. Additionally, because to its lightweight qualities, it is a useful packaging material for storing and transporting food items and beverages. The need for rigid containers in the food and beverage industries will rise as a result of shifting consumer purchasing patterns and changing lifestyles.
Glass containers were frequently used in the past in the pharmaceutical sector to package prescriptions and medications. But recently, this business has shifted its preference away from glass items and towards plastic containers since they are more affordable, simple to use, leak-resistant, and lightweight. Polyethylene, polypropylene, polyvinyl chloride, and polystyrene are the materials used for containers that are most frequently preferred in the industry. Additionally, plastic-based containers are corrosion-resistant and chemically inert, protecting the pharmaceuticals and extending their shelf life. As a result, the demand will be stimulated during the projection period by the pharmaceutical industry's quick expansion.
Plastic Containers Market Restraint
Plastic breaks down very slowly than it is manufactured each year. Plastic recycling is a time-consuming process that involves selling, shipping, melting, and finally resolving & shipping. In addition, dangerous compounds like bisphenol-A, phthalates, and polystyrene that are included in traditional plastics can produce harmful industrial waste. Due to the influence these variables have on the environment, tight rules are being imposed by various governments and regulatory agencies to reduce the use of plastics, which is expected to limit market growth.
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The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Plastic Containers Market Top Player’s Company Profiles
Amcor Limited
RPC Group PLC
Silgan Holdings Inc.
Graham Packaging Company LP
Alpha Packaging Inc.
Consolidated Container Company LLC
Gerresheimer AG
CKS Packaging Inc.
Huhtamaki Oyj
Reynolds Group Holdings Limited
Sonoco Products Company
Anchor Packaging Inc.
Comar LLC
Nampak Ltd.
Pactiv LLC
Sealed Air Corporation
Tetra Pak International S.A.
Plastic Containers Market Recent Developments
Plastic is used for cosmetic and personal care product packaging because of its practicality and hygienic attributes. Creams, powders, and other cosmetic goods are commonly packaged and stored in bottles and jars made of polypropylene. Furthermore, the portable and small packaging that these containers offer shields the product from air, light, moisture, dust, and filth. The cosmetics and personal care sector has expanded as a result of rising consumer demand for skin care products. This is anticipated to drive the market share for plastic containers during the anticipated timeframe.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Global Plastic Containers market is segmented based on material, container type, end-use and region. Based on the material type, the Polyethylene Terephthalate (PET) segment is projected to hold the most substantial share in the market. Based on the container type, the bottles & jars segment is projected to hold the most substantial market share. Based on the end-use, the food segment is projected to hold the most substantial market share. Based on the region, the Asia-Pacific region is projected to hold the market share.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 106.09 billion |
Market size value in 2031 | USD 144.5 billion |
Growth Rate | 3.5% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Plastic Containers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Plastic Containers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Plastic Containers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Plastic Containers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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REQUEST FREE CUSTOMIZATIONPlastic Containers Market size was valued at USD 106.09 billion in 2019 and is poised to grow from USD 109.8 billion in 2023 to USD 144.5 billion by 2031, growing at a CAGR of 3.5% in the forecast period (2024-2031).
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Product ID: SQMIG25I2015