In 2018, the global plastic container market was worth USD 85.5 billion. Because plastic containers are lightweight and easy to use, they will see significant growth. Plastic packaging is being used by many manufacturers, including Unilever and L'Oreal. The market will expand due to innovation in advanced materials like LLDPE and the importance of cost-effectiveness.
Packaging is an important part of adding value to products. The market is likely to grow with an increasing demand for packaging from the pharmaceutical and food sectors to increase shelf life. Because of its unique visual appeal and ease-of-use, plastic packaging is becoming more popular. The convenience of packaged foods will increase as a result of changing lifestyles and preferences in emerging countries like China and India.
The increasing use of innovative technologies like biodegradable packaging, aseptic packing will play an important role in increasing shelf life. The shelf life of a product is a key aspect. This is why consumers are seeking innovative packaging products that can extend the shelf life of their product.
Companies are looking for lighter packaging solutions due to increasing demand. Protecting the product from moisture and oxygen can extend the shelf life. Plastic containers have superior barrier properties that can protect the product against various deteriorating agents.
E-commerce is expected to be a major player in expanding packaging's reach due to its increasing importance as a shopping platform at a global scale. A fall in crude oil prices and the increasing stock levels in OPEC nations is expected to increase plastic resin availability at low prices for container manufacturers.
In 2018, 55.5% of global revenue went to PET, which accounted for the dominant market segment. PET is the most preferred choice for packaging bottled water, carbonated soft drink, juice, and other beverages, due to its many benefits for both manufacturers and consumers. PET is non-toxic, light, strong and recyclable. PET containers are used to pack around 70% of soft drinks, mineral water, and juice. Over the forecast period, PET packaging will expand in scope due to rising consumption of bottled water.
From 2019 to 2025, HDPE will grow at a 4.2% CAGR. HDPE is the preferred material to package shampoo, detergent, household cleaners and milk. In the near future, the global cosmetic market will experience significant growth. This will lead to an increase in demand for HDPE containers during the forecast period. The scope of HDPE packaging will be increased by rising urbanization, household cleaner spending, and growing cosmetics and household cleaner consumption.
In 2018, the beverages segment accounted for more than 50% of global revenue. The market for beverage packaging will be driven by increasing consumption of bottled water, juice and other functional drinks over the forecast period. Global bottled water consumption is increasing rapidly. In 2018, around 600 million households consumed about 600 million liters of bottled water. The plastic container market is likely to expand due to increased consumption of soft drinks from India and Thailand over the forecast period. According to Varun beverages, PepsiCo Indian's bottling company, India's per-capita consumption of soft drinks will reach 84 bottles by 2021. This is expected to have an impact on the market's growth.
In 2018, the industrial segment held a large market share and is expected grow at 3.3% CAGR from 2019 to 2025. The global market will be driven by the increasing production of chemicals in China and India over the forecast period. Due to their increasing use of industrial greases, lubricants and paints, China and Germany are the biggest consumers of plastic containers around the globe.
Plastic containers are becoming more popular in the cosmetics industry. China's cosmetic industry is the world's largest consumer of plastic containers. The country's growing cosmetic product consumption and production is responsible for an increase in demand. Many cosmetic manufacturers have moved their manufacturing facilities to China due to cheap labor and the availability of raw materials. This will increase plastic packaging demand over the forecast period.
There is a growing awareness about hygiene and health, which has resulted in a rise in household cleaner demand. Additionally, rising urbanization and increasing disposable income will increase household cleaner demand, which will expand the market for plastic containers in the sanitization sector. Studies show that the average American household spends between USD 500 and USD 600 annually on household cleaning supplies. Over the forecast period, increasing spending will lead to an increase in demand for plastic packaging within the sanitization sector.
Asia Pacific was the dominant region in global plastic container markets with more than 30% of global revenue in 2018. The main driver of the region's market in the coming years is the rising consumption of soft drinks and bottled water. The presence of large numbers of cosmetic and pharmaceutical product manufacturers in India, China, and South Korea has resulted in an increase in plastic container demand over the forecast period. The increase in automotive manufacturers in India and South Korea, as well as favorable government initiatives, is expected to drive demand for automotive greases and lubricants, which will lead to an expansion in the range of plastic containers.
Europe is projected to grow at 4.1% between 2019 and 2025. This market is driven by the increasing use of packaged food. The demand for convenient food products has grown due to the hectic work schedule. The changing lifestyles and eating habits have led to an increase in demand for healthy beverages. This will fuel the demand for plastic packaging during the forecast period.
In 2018, North America dominated the market. In 2018, North America held a significant market share. This will fuel the demand for plastic containers in the future. The U.S. market is North America's largest and accounted for over 75.0% of the North America market in 2018. This is due to rising demand for convenience food products and increasing consumption of functional drinks.
Global market is extremely competitive. In 2018, the top five market players held less than 10% of the global market. Amcor Limited, Berry Global Inc., Silgan Holdings Inc., Alpha Packaging, Silgan Holdings Inc., CKS Packaging, Inc., CCC Packaging, Polytainers Inc., Airlite Plastics, and RPC Group Plc are some of the other market players. ; and Reynolds. To increase their product offering, market players adopt strategies like mergers and acquisitions. Companies are also focusing on increasing their production capabilities and adopting new technologies to satisfy consumer demand for easy packaging.
This report predicts revenue growth at all levels, including regional and national, and analyzes the most recent industry trends for each sub-segment between 2015 and 2025. Grand View Research segmented the plastic container market by material, region, and end-use for this study.
Material Outlook (Revenue USD Million, 2015-2025)
PET
PP
HDPE
LDPE
Other
End-Use Outlook, Revenue, USD Million, 2015-2025
Beverages
Food
Pharmaceutical
Cosmetic
Take care of your home
Industrial
Regional Outlook (Revenue USD Million, 2015-2025)
North America
The U.S.
Europe
Germany
Asia Pacific
China
Central & South America
Brazil
Middle East & Africa
UAE
b. The market for plastic containers worldwide was valued at USD 88.7 million in 2019, and is projected to grow to USD 92.0 billion by 2020.
How is the market for plastic containers growing?b. Global plastic container market will grow at a compound annual rate of 4% between 2019 and 2025, reaching USD 112.5 billion in 2025.
Which market segment had the largest share of plastic containers?b. With a 31.6% share in 2019, Asia Pacific was the dominant market for plastic containers. This can be attributed to the rising consumption of soft drinks and juice due to the changing consumer lifestyle.
What are the major players in the plastic container market?b. Amcor Limited, Berry Global Inc., Alpha Packaging, Silgan Holdings Inc., CKS Packaging, Inc., CCC Packaging, Polytainers Inc., Airlite Plastics, and RPC Group Plc are some of the key players in the plastic container market. ; and Reynolds.
What are the main factors that drive the plastic container marketb. b.
Up Market Research published a new report titled “Plastic Container Market research report which is segmented by End Use (Industrial, Cosmetic, Beverages), by Material (HDPE, PET), By Players/Companies Inc; CCC Packaging; Polytainers Inc; Airlite Plastics; RPC Group Plc; and Reynolds, Amcor Limited; Berry Global Inc; Alpha Packaging; Silgan Holdings Inc; CKS Packaging”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Plastic Container Market Research Report |
By End Use | Industrial, Cosmetic, Beverages |
By Material | HDPE, PET |
By Companies | Inc; CCC Packaging; Polytainers Inc; Airlite Plastics; RPC Group Plc; and Reynolds, Amcor Limited; Berry Global Inc; Alpha Packaging; Silgan Holdings Inc; CKS Packaging |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 203 |
Number of Tables & Figures | 143 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by End Use (Industrial, Cosmetic, Beverages), by Material (HDPE, PET).
Plastic Container Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Plastic Container Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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