What is the global market size of Plastic Containers Market?

Global Plastic Containers Market size was valued at USD 106.09 billion in 2021 and is poised to grow from USD 109.8 billion in 2022 to USD 144.5 billion by 2030, growing at a CAGR of 3.5% in the forecast period (2023-2030).

What is the key driver of Global Plastic Containers Market?

Increased Use of Rigid Plastic Containers in the F&B Sector

Plastic Containers Market Size, Share, Growth Analysis, By Material(Polyethylene Terephthalate (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE)), By Container Type(Bottles & Jars, Pails, Tubs, Cups & Bowls), By End-Use(Beverages, Food, Pharmaceuticals & Cosmetics, FMCG), By Region - Industry Forecast 2024-2031

Report ID: SQMIG25I2015 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 96 | Figures: 76

Plastic Containers Market News

In May 2022, in alliance with Vöslauer, Austria's top mineral water company, ALPLA Group, a renowned provider of packaging solutions and recycling, has created an innovative returnable PET bottle. In comparison to its reusable glass substitute, the sustainable bottle is said to lower carbon emissions by roughly 30% and bottle weight by about 90%.

In February 2022, the purchase of Canyon Plastics Inc., a California-based package moulder, was announced by VPET USA LLC of Fontana, California, a Graham Partners portfolio business. In addition to providing consumer packaged goods including vitamins, nutraceuticals, protein powders, and supplements, Canyon is also a rising producer of specifically tailored products for the aerospace and defence and medical industries.

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Plastic Containers Market size was valued at USD 106.09 billion in 2022 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).

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. 'Plastipak Holdings, Inc.', 'Amcor Limited', 'Berry Global Inc.', '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', 'Printpack Inc.', 'Sealed Air Corporation', 'Tetra Pak International S.A.'

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.

Increased Demand from Cosmetics & Personal Care Industry: 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.

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.

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