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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 its report titled, "Plastic Containers Market Size, Share & COVID-19 Impact Analysis, By Material (PET, PP, HDPE, LDPE, and Others), By Container Type (Bottles & Jars, Pails, Tubs, Cups & Bowls, and Others), By End-use (Beverages, Food, Pharmaceuticals & Cosmetics, FMCG, and Others), and Regional Forecast, 2022-2029."
Halted Manufacturing Hampered Market Growth During Pandemic
The COVID-19 pandemic severely affected various industries amid the closure of the manufacturing and production units. The closure of national borders disrupted the supply chain systems and caused lack of raw materials. Further, governments imposed strict restrictions on trading policies, which hindered the organizational performance of the leading players. Also, lack of labor is a major reason to restrict the plastic containers market growth.
ALPLA Group Plans Investment to Bolster Business Growth
The ALPLA Group is planning to invest funds in extrusion systems. These systems are more likely to be used for food-grade recycled PET. This investment will allow the company to expand its business in Italy.
Increasing Demand for Sturdy Packaging Products to Propel Growth
The market is expected to witness prominent growth during the projected period. Also, the rising use of rigid plastic containers in the food and beverage packaging is estimated to drive the market and propel growth. The increasing demand for plastic containers for packaging personal care products and cosmetics is projected to bolster the market growth in the coming years. The rapidly growing pharmaceutical sector is projected to boost the market growth.
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Business Acquisitions Allow Companies to Augment Growth
The leading 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.
Notable Industry Development:
List of Key Players Covered in the Report:
Further Report Findings:
Asia Pacific holds a dominant plastic containers market share due to increasing demand for packaging services from the medical and cosmetic industries. The regional market stood at USD 26.95 billion in 2021. Also, the rising use of plastic bottles in the beverage sector is anticipated to fuel the regional market growth.
Based on 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 proliferate during the forecast period. The rising demand for transparent packaging material is projected to bolster segmental growth.
Table of Segmentation:
Value (USD Billion)
By Material, Container Type, End-use, and Region
By Container Type