Plastic Containers Market
The plastic containers market size was valued at USD 207.35 billion in 2023 and is expected to be worth USD 218.04 billion in 2024. The market is projected to reach USD 344.79 billion by 2032, recording a CAGR of 5.9% during the forecast period.
Plastic containers are produced using plastic resins, such as polypropylene, polyethylene terephthalate, and high-density & low-density polyethylene. These containers come in several forms, such as jars, pails, bowls, and bottles and are widely used in packing drinks, food products, cosmetics, and pharmaceutical products. The various favorable properties of these containers, such as lightweight nature, durability, and high chemical resistance are expected to make them a popular product in several industries.
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LIST OF KEY COMPANIES PROFILED IN THE REPORT:
- ALPLA (Austria)
- Pretium Packaging (U.S.)
- Amcor (Switzerland)
- Plastipak Holdings, Inc. (U.S.)
- Graham Packaging Company (U.S.)
- Berry Global Inc. (U.S.)
- Greiner Packaging (Austria)
- Shanghai Zijiang Enterprise Group Co., Ltd (China)
- Visy Industries (Australia)
- Zhuhai Zhongfu Industrial Co., Ltd (China)
- Polycon Industries, Inc. (U.S.)
- KW Plastics (U.S.)
- Silgan Holdings, Inc. (U.S.)
- CKS Packaging, Inc. (U.S.)
Segmentation:
Demand for PET to Rise Due to Its Lucrative Properties
Based on material, the market is segmented into Polyethylene Terephthalate (PET), polypropylene (PP), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), and others. The PET segment is expected to dominate the global market owing to the major benefits offered by this type of plastic, such as durability and lightweight nature, making them ideal for use in several industries.
Widespread Use in Several Industries Boosts Demand for Bottles & Jars
In terms of container type, the market is segmented into bottles & jars, pails, tubs, cups & bowls, and others. The bottles & jars segment is dominating the global plastic containers market share as these containers are being extensively used in various industries, such as pharmaceuticals, food & beverage, personal care, and cosmetics.
Increasing Need to Ensure Safety and Shelf-Life of Drinks Boosts Product Use in Beverage Industry
Based on end-user, the market is classified into beverages, food, pharmaceuticals & cosmetics, FMCG, and others. The beverages segment is dominating the market as there is a growing demand for containers that can ensure the safety of the drinks packed and protect their shelf-life.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading end-users, materials, container types, and key market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Rising Adoption of Rigid Plastic Containers in Food & Beverage Sector to Bolster Market Growth
The food & beverage industry is increasing its reliance on rigid plastic containers as they come with a wide range of benefits, such as lightweight nature and high durability. These features make sure that the foods and drinks packed are protected from external elements, such as sunlight, moisture, and contamination. They also play a key role in safeguarding the shelf-life of foods and beverages and ensuring their safety during transportation. These features offered by rigid plastic containers will ultimately accelerate the market’s growth.
However, strict environmental regulations on the use of plastics can hinder the plastic containers market growth.
Regional Insights:
Asia Pacific Dominated Market Due to Robust Expansion of Beverage Sector
Asia Pacific dominated the global market in 2023 as India and China are witnessing a rapid expansion of their beverage industry. This factor is increasing the use of plastic containers to safely store all types of drinks, from mineral water to carbonated drinks.
North America is also showcasing notable growth in the global market owing to the strong growth of the region’s pharmaceutical and food industries.
Competitive Landscape:
ALPLA Dominates Market Due to Its Vast Product Portfolio and Increased Focus on Innovation
The market’s competitive landscape is highly fragmented, with ALPLA dominating the market. The reason behind the company’s dominance is its vast product portfolio and its commitment to constantly innovate its existing product range. Such innovations have helped ALPLA introduce new plastic products in the market, further solidifying its dominance.
Information Source: https://www.fortunebusinessinsights.com/plastic-containers-market-102372
Notable Industry Development:
June 2024 - Berry Global Group, Inc. introduced a customizable 250ml Domino bottle, which is manufactured from up to 100% Post-Consumer Recycled (PCR) plastic for the home, beauty, and personal care industries. The newly launched bottle has a 75mm-wide front face and side panels which can be customized. This enables brands to develop unique packaging solutions, thereby enhancing its shelf presence.
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