"Innovative Market Solutions to Help Businesses Make Informed Decisions"
The global plastic containers market size was USD 55.80 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with the product witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline of 2.4% in 2020. The market is projected to grow from USD 58.15 billion in 2021 to USD 82.0 billion in 2028 at a CAGR of 5.0% during the 2021-2028 period. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.
Plastic containers are made of plastic resins such as polyethylene terephthalate, polypropylene, high-density polyethylene, and low-density polyethylene. These are mostly used for the purpose of packaging and available in different forms such as bottles, jars, bowls, and pails. These containers are majorly utilized in the packaging of food, beverages, pharmaceuticals, and cosmetics. Plastic-based containers are becoming increasingly favorable for packaging food products due to their durability, lightweight, non-permeability to moisture, and protection from sunlight. Rising demand for rigid packaging from food and beverage manufacturers to increase the shelf-life of products and enhance the aesthetic to attract consumers will positively influence the market. The preference for containers by food manufacturers is rising due to their visual appeal towards customers and the convenience to manufacture them.
Shutdown of Manufacturing Sector to Affect the Production of Plastic Based Containers Amid COVID-19
The pandemic has affected the markets from all sectors, and countries have declared a restriction over distribution and transportation, and factory closure affecting the value chain. The lockdown has restricted the production capabilities of the companies due to a lack of labor and disruption in the supply chain. This has resulted in low demand for such container products. Moreover, China is a dominant player in the market, with regulations on the export of plastic products to and from the country has harshly affected North America and Europe Market. In the wake of COVID-19, the consumer goods industry is facing a negative impact due to its primary focus on personal protective equipment. Consumer goods companies are facing late deliveries and out-of-stock products. The pricing has increased from 5% to 10% as brands seek to find new vendors for bottles.
Request a Free sample to learn more about this report.
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 hygienic qualities. Polypropylene is mainly used to form bottles and jars that helps in the packaging and storage of creams, powders, and other cosmetic products. Additionally, these containers provide compact and portable packaging, protecting the packed product from air, light, moisture, dust, and dirt. The rising consumer preference for skincare products has driven the growth of the cosmetics & personal care industries. This is projected to further propel the plastic containers market growth during the forecast period.
Rising Use of Rigid Plastic Containers in Food and Beverages Packaging to Fuel Demand
Rigid containers have relatively inflexible shapes and forms. Demand for rigid plastics containers is increasing in the food and beverage industries due to their durability and lightweight properties. These properties ensure the safety and longer shelf life of food and protect it from moisture, lights, and chemicals. Moreover, it is an efficient packaging material for storage and transportation of food products and beverages due to its lightweight properties. The changing lifestyle and increasing consumer spending on packaged goods will increase the rigid container demand in the food and beverage industries.
Growing Pharmaceuticals Industry to Fuel the Demand Globally
Earlier in the pharmaceutical industry, glasses were majorly utilized for packaging of drugs and medicines. But recently, the pharmaceutical industry has switched its preference towards plastic containers as they 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, plastic-based containers are also chemically inert and resistant to corrosion, due to which it protects the drugs and medicines and enables their longer self-life. Hence, the rapidly growing pharmaceutical industry will fuel the demand during the forecast period.
Stringent Environmental Regulation for Plastic to Restrict the Market Growth
The decomposition of plastic is slower than the amount produced per year. The recycling process of plastics is a lengthy procedure that includes selling, shipping, melting, and resolving & shipping again. 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 environmental 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 market growth.
To know how our report can help streamline your business, Speak to Analyst
Polyethylene Terephthalate (PET) Dominated the Plastic Containers 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 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 market is segmented into bottles & 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. Therefore, 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 their 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 paints 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 is the leading end-use segment in the market. In this segment, 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 of plastic bottles around the globe. Hence, the growth in the beverage industry will lead to the demand for the product.
The significant plastic resin used in the pharmaceuticals & cosmetics industry is polyethylene and polypropylene. These resins are used to manufacture bottles, jars, and tubes. The plastic containers are chemically inert and resistant to corrosion, due to which it helps protect skincare and medicine products from chemicals and moisture and avoid leakage. Hence, the growth in the pharmaceuticals & cosmetics industry will increase the demand for the product.
Asia Pacific Plastic Containers Market Size, 2020 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
The Asia Pacific region accounted for the highest revenue share for the plastic containers 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 bottled 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 growth of the market in this region.
In North America, the U.S. is the leading contributor due to the 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, the product is mostly used in the pharmaceutical industry due to its lightweight and durable properties.
In Europe, the market is driven due to the growing FMCG and automotive industries. Many FMCG products such as detergents, cleaners, and other products are available in liquid forms in this region, and major premium car manufacturers are present in the region. Therefore, the demand for automotive fluids in the region is significantly high. Hence, rise in demand for the product for plastic packaging of automotive lubricants, oil, coolants, and other fluids.
The growth of the market in Latin America is associated with the growth of the beverage industry. For example, the Brazilian beer market is third largest across the globe, and the acquisition of Brasil Krin by Heineken has significantly surged the demand for plastic containers in the country.
The Middle East & Africa to be the second-fastest-growing region in the market. The growth is associated with expansion of the food & beverage industry in the region. Due to scarcity of water in the region, consumers rely on packaged mineral water for their day-to-day needs. Hence, the demand for plastic containers will grow at a significant rate.
Diverse Portfolio and Core Focus of ALPLA, to Propel the Company to a Leading Position
The competitive landscape of the plastic containers market depicts a fragmented market in which ALPLA is a leading player. A diversified product portfolio, along with constant innovations by the company to produce new plastic products, are prominent factors responsible for the company's leading position.
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 ALPLA Group is investing more than 5 million euros in extrusion systems for food-grade recycled PET made of used PET bottles site in Italy. The company is installing an extrusion system for 15 KT of rPET a year at premises.
An Infographic Representation of Plastic Containers Market
To get information on various segments, share your queries with us
The market research 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.
ATTRIBUTE | DETAILS |
Study Period | 2017-2028 |
Base Year | 2020 |
Estimated Year | 2021 |
Forecast Period | 2021-2028 |
Historical Period | 2017-2019 |
Unit | Value (USD Billion) |
Segmentation | Material, Container Type, End-Use, Region |
By Material |
|
By Container Type |
|
By End-Use |
|
By Region |
|
Fortune Business Insights says that the global market size was USD 55.80 billion in 2020 and is projected to reach USD 82.00 billion by 2028.
The market size stood at USD 55.80 billion in 2020.
Growing at a CAGR of 5.0%, the market will exhibit steady growth in the forecast period (2021-2028).
PET segment is expected to be the leading segment in this market during the forecast period.
The rising use of rigid plastics containers in the 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 2020.
Increasing adoption of plastic bottles in the beverage industry.
Related Reports