Pune, India, Oct. 10, 2022 (GLOBE NEWSWIRE) — The global plastic containers market size was USD 58.15 billion in 2021. The market is projected to grow from USD 60.59 billion in 2022 to USD 86.27 billion by 2029 at a CAGR of 5.2% during the 2022-2029 period. Fortune Business Insights™ publishes this information in a report titled, “Plastic Containers Market, 2022-2029”. As per the report, the market is projected to grow during the forecast period due to increasing product demand in personal care.
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List of Key Players Profiled in the Plastic Containers Market Report:
- ALPLA (Austria)
- Alpha 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.)
- Altium Packaging (U.S.)
- Polytainers, Inc. (Canada)
- Airlite Plastics Co. (U.S.)
- Reynolds Consumer Products (U.S.)
- Consolidated Container Company (U.S.)
Report Scope & Segmentation:
|2029 Value Projection||USD 86.27Million|
|Plastic Containers Market Size in 2021||USD 58.15 Million|
|No. of Pages||188|
|Segments Covered||By Category, By Type and Regional|
|Plastic Containers Market Growth Drivers||Surging Demand for Plastic Containers in the Cosmetics & Personal Care Industry to be a Key Market|
|Growing Pharmaceuticals Industry to Drive Demand from Drugs and Medicines Packaging|
Halted Manufacturing Plants Amid Pandemic Hindered Market Growth
The outbreak of COVID-19 pandemic created a huge impact on various industries amid the closure of the manufacturing and production units. Also, governments imposed strict restrictions on trading policies, which hindered the organizational performance of the leading players. The closure of national borders disrupted the supply chain systems and caused lack of raw material. Furthermore, lack of labor is a major reason to restrict the plastic containers market growth.
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Rising Application of Polyethylene Terephthalate to Ensure Segmental Growth
By material, the market is categorized into Polyethylene Terephthalate (PET), polypropylene (PP), High-density Polyethylene (HDPE), Low-density Polyethylene (LDPE), and others. The Polyethylene Terephthalate (PET) segment is anticipated to grow rapidly during the forecast period. The increasing demand for transparent packaging material is projected to bolster segmental growth.
Bottles & Jars Segment to Grow Rapidly Due to Rising Adoption from End-use Industries
Based on container type, the market is segregated into bottles & jars, pails, tubs, cups & bowls, and others. The bottles & jars segment is estimated to dominate the global market share due to the increasing use of plastic bottles in the pharmaceutical and consumer goods sector.
High Feasibility Property to Bolster Beverage Segmental Growth
On the basis of end-use, the market is classified into beverages, food, pharmaceuticals & cosmetics, FMCG, and others. The beverages segment is anticipated to lead the global market position due to increasing demand for efficient containers.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The report shares complete information and insights on recent developments and trends in the market. Also, the drivers and restraints affecting the market growth during the projected period are mentioned further in the report. Further, the impact of the COVID-19 pandemic on global market development is highlighted in this report. Regional market insights on segmented market areas are provided further along with a list of key market players in the industry.
Drivers & Restraints:
Rising Demand for Efficient Packaging in the Medical Sector to Augment Growth
The market is expected to grow significantly during the forecast period. The increasing demand for plastic containers for packaging personal care products and cosmetics is projected to bolster the market growth in the coming years. Also, the rising use of rigid plastic containers in the food and beverage packaging is estimated to drive the market and propel growth. The rapidly growing pharmaceutical sector is projected to boost the market growth.
However, strict environmental regulation on plastic utilization may hamper market growth.
Asia Pacific Holds Highest Market Share Due to Rising Packaging Demand
Asia Pacific dominates the global plastic containers market share due to increasing demand for packaging services from the medical and cosmetic industries. Also, the rising use of plastic bottles in the beverage sector is anticipated to fuel the regional market growth. Asia Pacific stood at USD 26.95 billion in 2021.
Browse Detailed Summary of Research Report with TOC:
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights on Impact of COVID-19 on Global Plastic Containers Market
- Supply Chain Analysis & Challenges
- Steps taken by Government / Companies to Overcome this Impact
- Potential Challenges and Opportunities due to COVID-19 Outbreak
Strategic Acquisition Allows Companies to Propel Growth
The key market players focus on different strategies to improve their business performance. The companies form strategic alliances and partnerships to globalize their brand and propel growth.
Key Industry Development:
- March 2021: Greiner Packaging has now expanded its range of bottles to meet the increased demand. The new range will include 16 bottles that can be used for sanitizers made from up to 100% r-PET.
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Frequently Asked Questions (FAQs):
1. Is the Impact of COVID-19 on the Plastic Containers industry growing?
Answer: Plastic Containers Market size was USD 58.15 billion in 2021. The market is projected to grow from USD 60.59 billion in 2022 to USD 86.27 billion by 2029
2. Who are the key players in the Impact of COVID-19 on the Plastic Containers Market?
Answer: ALPLA (Austria), Alpha Packaging (U.S.), Amcor (Switzerland), Plastipak Holdings, Inc. (U.S.), Graham Packaging Company (U.S.)
Read Related Insights:
Plastic Market Size, Share & COVID-19 Impact Analysis, By Type (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene, and Others), By End-use Industry (Packaging, Automotive & Transportation, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Textile, and Others), and Regional Forecast, 2022-2029
Plastic Pails Market Size, Share & Industry Analysis, By Type (Open Top Plastic Pails, Closed Top Plastic Pails), By Capacity (Upto 3 Litres, 3 Litres to 10 Litres, 10 Litres to 20 Litres, 20 Litres to 50 Litres, above 50 litres), By Application (Food & Beverages, Paints & Coatings, Inks,Dyes & Pigments, Industrial Chemicals, Petroleum, Cleaning Solvents, Others) and Regional Forecast, 2022-2029
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