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The global plastic container market Size was valued at USD 51.89 billion in 2018 and is projected to reach USD 77.45 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period.
Plastic containers are made of plastic resins such as polyethylene terephthalate, polypropylene, high-density polyethylene, and low-density polyethylene. These are mostly used for packaging and available in different forms such as bottles, jars, bowls, and pails. These containers are preferred over other substitute products such as metal containers and glass containers as these containers are available at a lower cost and have lighter weight than substitute products. These containers are majorly utilized in the packaging of food, beverages, pharmaceuticals, and cosmetics.
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Increasing Demand for Plastic Containers in the Cosmetics & Personal Care Industry to be a Key Market Trend
The packaging of a wide range of cosmetics & personal care products is done using plastic material, due to its convenience and protection qualities. Polypropylene is mainly used to form bottles, and jars that help in packaging and storage of creams, powders, and other cosmetics products. Additionally, the plastic containers provide compact and portable packaging, which protects the packed product from air, light, moisture, dust, and dirt. The rising consumer preference for skin care products has driven the growth of cosmetics & personal care industries. This is projected to further propel the plastic container market growth during the forecast period.
Rising Use of Rigid Plastic Container in Food and Beverages Packaging to Fuel Demand
The rigid plastic container has relatively inflexible shapes and forms. In the food and beverage industries, demand for rigid plastics containers is increasing due to its durability and lightweight properties. These properties ensure the safety and longer shelf life of food and protect it from moisture, direct sunlight, and chemicals. Moreover, due to its lightweight properties, it becomes efficient packaging material for the storage and transportation of food products and beverages. The changing lifestyle and increasing consumer spending on packaged goods will increase the rigid containers demand in the food and beverage industries.
Growing Pharmaceuticals Industry to Fuel the Demand for Plastic Container Globally
Earlier in the pharmaceutical industry, glasses were majorly utilized for the packaging of drugs and medicines, but recently the pharmaceutical industry has switched their preference towards plastics containers. These containers are more cost-effective, easy to use, resistant to leakage, and lightweight in comparison to glasses. The majorly used containers in the pharmaceutical industry are made up of polyethylene, polypropylene, polyvinyl chloride, and polystyrene. Further, these containers are also chemically inert and resistant to corrosion, due to which it protects the drugs and medicines and enable their longer self-life. Hence, the rapidly growing pharmaceutical industry will fuel demand during the forecast period.
Stringent Environmental Regulation for Plastic to Restrict the Market Growth
The decomposition of plastic is slower than the number of new plastics produced per year. The recycling process of plastics includes selling, shipping, melting, and resolving & shipping again. It takes a lengthy procedure to manufacture recycled plastics. Further, chemicals found in conventional plastics such as bisphenol-A, phthalates, and polystyrene are hazardous and can create toxic industrial waste. These factors impact the environment conditions, due to which stringent regulations are placed by various governments and regulatory bodies to minimize the use of plastics, which is anticipated to restrict the reusable plastic container market growth.
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Polyethylene Terephthalate (PET) Dominated the Plastic Container Market
Based on material, the market is segmented into polyethylene terephthalate (PET), polypropylene (PP), high-density polyethylene (HDPE), low-density polyethylene (LDPE), and others. The PET segment is anticipated to hold a dominant share during the forecast period. PET is a lightweight and durable plastic resin. This form of polyester is closely similar to glass in transparency. It is mainly used for packaging in the food products and beverages owing to its barrier properties against water vapor, gases, oils, alcohols, and dilute acids.
High-Density Polyethylene (HDPE) is a sturdy, rigid, and durable resin. This material offers good stress or crack resistance, and melt strength. The use of this resin in a mildly stiff impact-resistant bottle offers an excellent moisture barrier. The containers made from this material are mainly used in personal care, beverages, food, and chemical industries.
Bottle & Jar Segment to be the Fastest-growing Container Type During the Forecast Period
In terms of container type, the plastic container market is segmented into bottle & jars, pails, tubs, cups & bowls, and others. The bottles & jars segment is the leading contributor to the market and is the fastest-growing container type. The demand for bottles & jars is increasing due to its use for packaging in pharmaceuticals, food, and beverage industries. The plastic bottles & jars are cost-effective, leakage-free, and lightweight, hence, they are considered as the best substitute for metal and glass bottles & jars. The increasing demand for bottles & jars from various industries will surge the growth of the market.
The pails are made up of high-density polyethylene and polypropylene. The demand for plastic pails is rising due to its excellent properties such as lightweight, chemical resistance, water resistance, and leakage-free. These properties are expected to drive the demand for plastic pails in the chemicals and paint industries.
Higher Adoption of Plastic Container by Food & Beverage to Enable Dominance of the Segment
Based on end-user, the market is classified into beverages, food, pharmaceuticals & cosmetics, FMCG, and others. Beverages are the leading end-use segment in the market. In this segment, plastic containers are used in the form of bottles & jars. These containers ensure safety and longer shelf-life along with protection from leakage, moisture, and chemicals. The increasing demand for ready to drink beverages including carbonated soft drinks, juices, and milk & dairy drinks has fueled the growth, around the globe. Hence, the growth in the beverage industry will lead to demand.
The significant plastic resin used in the pharmaceuticals & cosmetics industry is polyethylene and polypropylene. These resins are used to manufacture plastic bottles, jars, and tubes. These containers are chemically inert and resistant to corrosion, due to which it helps to protect skin care and medicine products from chemicals, moisture, and also avoid leakage. Hence, the growth in the pharmaceuticals & cosmetics industry will increase demand.
Asia Pacific Plastic Container Market Size, 2018 (USD Billion)
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The Asia Pacific region accounted for the highest revenue share for the market, in which China and India are the leading contributors. The growth in this region is attributed to the growing beverage industry, which further increases the demand for plastic bottles to preserve water and carbonated drinks. The bottles used for beverages are primarily made up of polyethylene terephthalate material. Hence, rising consumer spending on carbonated beverages will surge the plastic container industry growth in this region.
In North America, the plastic container market US is the leading contributor, due to growing food and pharmaceuticals industry. In the food industry, majorly rigid plastics bottles & jars are used to protect the food and beverages from leakage. Whereas, in the pharmaceutical industry, plastic containers are mostly used, owing to its lightweight and durable properties. In Europe, the market is driven due to growing FMCG industries. In this region, many FMCG products such as detergents, cleaner, raw materials, and other products are available in liquid forms, which propel the demand for plastics bottles in this region.
Diverse Portfolio and Core Focus of ALPLA, to Propel the Company to a Leading Position
The competitive landscape of the plastic container market depicts a fragmented market in which ALPLA is a leading player. A diversified product portfolio of a plastic container, along with constant innovations by the company to produce new plastic products, are prominent factors responsible for the leading position of the company.
However, Alpha Packaging, Amcor, Plastipak Packaging, and Consolidated Container Company, are other key players in the market. This is projected to positively impact the global market as these companies are anticipated to gain market share during the forecast period.
The plastic container market forecast report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.
An Infographic Representation of Plastic Containers Market
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Value (USD Billion)
By Container Type
Fortune Business Insights says that the global market of plastic container size was USD 51.89 billion in 2018 and is projected to reach USD 77.45 billion by 2026.
In 2018, the market of plastic container value stood at USD 51.89 billion.
Growing at a CAGR of 5.2%, the market will exhibit steady growth in the forecast period (2019-2026).
PET segment is expected to be the leading segment in this market during the forecast period.
Rising use of rigid plastics containers in food and beverage industries is the critical factor driving the market.
ALPLA is the leading player in the global market.
Asia-Pacific dominated the market share in 2018.
Increasing adoption of plastic bottles in the beverage industry.
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