The global Plastic Container Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global plastic container market size is projected to touch USD 112.5 billion by the end of 2025, as per the report released by Million Insights. It is estimated to grow with a CAGR of 4.0% from 2019 to 2025. Factors such as the growing preference for convenient food items including nutritional and functional drinks are projected to fuel the market growth in the forecast duration.
Key Players:
- Amcor Limited
- Berry Global Inc.
- Alpha Packaging
- Silgan Holdings Inc.
- CKS Packaging Inc.
- CCC Packaging
- Polytainers, Inc.
- RPC Group Plc.
- Airlite Plastics
- Reynolds
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Growth Drivers:
Packaging plays a vital role in enhancing product value and visual appeal. Growing preference for protective packaging from the pharmaceutical and food sectors to improve the shelf life of the product is projected to fuel the market growth. Manufacturers are inclined towards plastic packaging as it is convenient and gives an enhanced look to the end product. Food preferences and changing lifestyles in developing nations such as India and China are predicted to augment the demand for convenience food, thereby, encouraging the use of plastic packaging.
Increasing use of several innovative technologies such as aseptic and biodegradable packaging is projected to play a crucial role in enhancing the serviceable life of the end product. Consumers generally prefer products with innovating packaging which have longer shelf-life.
The demand for lightweight and attractive packaging is on the rise. Manufacturers are using plastic packaging to prevent the product from many deteriorating agents such as microorganisms, heat, moisture, oxygen and others. Plastic contains strong resistive properties and therefore widely used as a packaging material by various manufacturers. Growing penetration of e-commerce retails fueled by an increasing number of smart-phone users is projected to support the growth of the plastic containers market. Further, growing inventory requirement from OPEC countries has resulted in reducing the price of crude oil, which, in turn, is anticipated to increase the accessibility of plastic resin at low cost for making containers.
End Use Outlook:
- Beverages
- Food
- Pharmaceutical
- Cosmetic
- Household Care
- Industrial
Regional Outlook:
In 2018, Asia Pacific led the plastic container market with over 30.0% revenue share in 2018. The growth is attributed to the growing demand for juices, bottled water and soft drink over the forecast duration. Further, the establishment of major cosmetic and pharmaceutical manufacturers in South Korea, China and India has led to a rise in the demand for the plastic container in the upcoming years. Moreover, growing operations of automotive producers in South Korea, India and China owing to friendly government policies are projected to supplement the sales of industrial greases and lubricants, resulting in promoting the use of plastic containers during the estimated period.
Europe is projected to register a CAGR of 4.1% in the forecast period. Factors such as increasing demand for packed food, hectic working hours and changing lifestyle are expected to boost the demand for the product. Also, the growing preference for nutritious brews is further driving the growth of the regional market.
North America occupied a considerable share in the global market in 2018. The growing consciousness for hygiene and health is persuading the customers to increase investment in household cleaners. The U.S. dominated the regional market in North America with a share of more than 75 % in 2018. This major share is the result of the growing demand for functional brews and convenient food items.
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