Plastic Containers Market

Preliminary research of Fairfield Market Research indicates a promising growth outlook for global plastic containers market during the course of next few years.

Convenience, Light Weight, and Competitive Costs Uphold Performance of Plastic Containers Market

With their portability and lightweight, plastic containers are predicted to experience significant demand growth in the long run. Plastic packaging is becoming increasingly popular among firms, including L'Oréal, Unilever, and PepsiCo. On account of the competitive production costs. Additionally, it is anticipated that advancements in sophisticated materials, including linear low density polyethylene (LLDPE), combined with the growing significance of cost-effectiveness, would broaden the reach of plastic containers market further. The market is anticipated to increase favorably due to the rising demand for protective packaging from the food and pharmaceutical industries to extend the shelf-life of the finished goods. In addition, since the world population is projected to rise from 7.3 billion in 2015 to 9.7 billion in 2050, there will be a rise in the demand for food, which is also likely to increase the demand for plastic packaging materials. Plastic packaging is becoming increasingly popular with its convenient, and inventive visual appeal for consumer attention. This will remain among the key factors elevating the growth prospects of plastic containers market.

Rampant E-commerce Expansion, and Frequent Debute of Innovative Packaging Solutions Facilitate Plastic Containers Market Growth

Unprecedented expansion of e-commerce industry has been unlocking multiple exciting prospects for the participants in plastic containers market. E-commerce companies prefer lightweight and flexible packaging choices to reduce delivery costs. The need for lightweight packaging is growing, which has prompted businesses to create substitutes. The product's shelf-life can be increased by shielding the product from oxygen, moisture, and other possible agents like bacteria. As more individuals purchase online for everyday fresh foods, FMCG items, electronic equipment, and clothes, the industry is expected to grow. Plastic containers are those protective mediums with exceptional barrier qualities and the ability to shield products from various disintegrating agents.

The expanding introduction of cutting-edge packaging solutions, such as active packaging, modified environment packaging, edible packaging, and bioplastic packaging, is also expected to lead to more prospects for plastic packaging in the next few years. Increased R&D efforts to improve product features and design will boost market expansion throughout the forecast period. Most businesses favor plastic packaging options and lower production costs, which is anticipated to boost the plastic containers market over the anticipated timeframe. In April 2021, Boxmore Plastics Limited was purchased by Alpha Packaging, a top producer and decorator of premium plastic bottles, and jars. The purchase of Boxmore helps Alpha's plan for worldwide expansion and improves the positioning of the business in the European plastic containers market.

Plastic Containers Market: COVID-19 Impact

The pandemic had an impact on markets across all industries, and nations had announced restrictions on distribution and transportation as well as factory closures that would have an impact on the value chain. With the manpower shortage and disruptions in the supply chains, the lockout reduced the enterprises' ability to produce goods. This means that some container-related products have a small market. The consumer products industry suffered due to COVID-19's focus on personal protective equipment. Products were out of stock, and deliveries were delayed for consumer goods companies. As brands search for new bottle vendors, the price has increased from 5-10%. However, because of the growth of the e-commerce sector, the epidemic turned into an opportunity. The online distribution of food, drink, cosmetic products, home care goods, and cleaning and disinfection products helped container producers expand.

Rocketing Sales Recorded by Packaged F&B Sector that Demands Rigid Packaging Bodes Well for Plastic Containers Market

Rigid containers generally have rigid shapes, and forms. With their strength and low weight, rigid packaging solutions are becoming increasingly popular in the food and beverages industry. These characteristics make food safer, extend its shelf-life, and shield it from chemicals, light, and moisture. Additionally, because of 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 beverages industry will rise due to shifting consumer purchasing patterns, and changing lifestyles, in turn driving the growth of plastic containers market.

Unprecedented Growth of Pharmaceutical Industry Boosts Expansion of Plastic Containers Market

Glass containers were frequently used in the pharmaceutical sector to package prescriptions, and medications. However, recently, this business has shifted its preference away from glass items to 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 across 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 brisk expansion.

Rigorous Environmental Regulations Limit Adoption Rate in Plastic Containers Market

Plastic breaks down more 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. With the influence these variables have on the environment, various governments and regulatory agencies are imposing tight rules to reduce the use of plastics, which is expected to limit the growth of plastic containers market to a large extent.

PET Remains a Dominant Choise in Plastic Containers Market

Polyethylene terephthalate (PET) leads the global plastic containers market in the forecast period, accounting for a major global revenue share. With its many advantages for both makers and consumers, PET is the most widely used material for bottled water, carbonated soft drinks, and juice packaging. Its barrier qualities against water vapor, gases, oils, alcohols, and diluted acids are recommended for packaging food products and beverages. PET is regarded as non-toxic, robust, lightweight, and recyclable. Mineral water, soft drinks, and juice are all packed in PET containers to a degree of about 70%. Over the projection period, rising bottled water and juice consumption is anticipated to broaden the use of PET packaging. In terms of transparency, this polyester type is very similar to glass. The sector is anticipated to grow due to rising technological developments and advances in packaging applications, particularly through weight reduction. The demand for polyethylene terephthalate is expanding due to rising demand for sustainable and recyclable goods, increased use of textiles and fabrics, and higher PET recycling and collecting rates globally (PET).

With Growing Demand for Bottled Water and Soft Drinks, Beverages Continue to Dominate Plastic Containers Market

The beverage sector contributed the largest global revenue share in the forecast period. Throughout the forecast period, rising demand for bottled water, juice, and functional drinks is anticipated to fuel the market for beverage packaging. In 2021, Americans consumed 15.7 billion gallons of bottled water, a 4.7 percent increase over the previous year. Throughout the projected period, it is also anticipated that rising soft drink consumption in Thailand and India will broaden the use of plastic containers. India's per capita consumption of soft drinks is anticipated to reach 84 bottles by 2021, which is anticipated to positively affect the market's expansion, according to PepsiCo India's bottling partner Varun beverages. The alcoholic beverage industry is also projected to help the plastic containers market. Recently, the wine industry has been gradually moving into plastic bottles.

Sustained Popularity of Plastic Packaging Solutions Upholds Asia Pacific’s Key Position in Plastic Containers Market

The Asia Pacific currently holds a major share of the global plastic containers market owing to rising demand for packaging services from the medical and cosmetic industries. One of the main objectives in many Asia Pacific countries has traditionally been to reduce the usage of single-use plastic bottles and packaging. However, businesses may use plastic packaging to stop the epidemic from spreading, putting the sustainability issue on hold for the time being. China is one of the greatest markets in the world for pharmaceuticals and healthcare products, partly due to its aging population. Pharmaceutical Technology predicted that by 2022, the size of the Chinese pharmaceutical market would increase to about US$574 Bn. Thus, there is a chance for domestic players to expand as there may be a rise in the demand for plastic bottles from these businesses. With the rising consumption and industrial use of plastic-made bottles, the plastic bottle market in India is predicted to expand gradually. The India Brand Equity Foundation (IBEF) reports that the plastic containers market here demand for plastic bottles continues to grow, with plastic exports totaling US$7.045 Bn from April 2019 to January 2020. Numerous products and industries, including food and beverages, pharmaceuticals, and domestic sectors are expected to increase plastic initiatives.

North America will continue to capture a sizeable share of the plastic containers market pie throughout the forecast period. Spending on household cleaners is rising due to increased health and hygiene awareness. Throughout the projection period, this is anticipated to increase demand for plastic containers. The largest market in North America, the US, held the largest share of the market there in the forecast period. The largest portion is linked to expanding food convenience demand and rising functional beverage usage. To prevent food and liquids from leaking, stiff plastic bottles and jars are commonly used in the food business. In contrast, the product's primary use in the pharmaceutical sector is a result of its strength and portability.

Global Plastic Containers Market: Competitive Landscape

In May 2022, the ALPLA Group, a leading packaging solutions and recycling company collaborated with Austria's largest mineral water brand, Vöslauer, to produce an innovative returnable PET bottle. The sustainable bottle is claimed to lower carbon emissions by around 30% and bottle weight by nearly 90% compared to its reusable glass substitute. In January 2022, Canyon Plastics Inc., a California-based package molder, was acquired by VPET USA LLC of Fontana, Calif., a Graham Partners portfolio business. Canyon is a manufacturer of consumer-packaged goods such as vitamins, nutraceuticals, protein powders, and supplements, as well as an expanding line of specialty-designed goods for the medical, aerospace, and defense industries.

A few of the players in the plastic containers market include Alpha Packaging Holdings Incorporated, AMCOR Ltd, Bemis Company Incorporated, CKS Packaging Incorporated, Constar International LLC, Huhtamaki Oyj, Letica Corporation, Linpac Group Ltd, Sonoco Products Company, and Plastipak Holdings Incorporated.

Regional Classification of Global Plastic Containers Market is Listed Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

 Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East and Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Plastic Containers Market

• Plastic Containers Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value and Volume, 2018 - 2022
• Volume Consumption at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Production Output Analysis (Major Producing Regions)
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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