Plastic Container Market Size to Reach $146.43 Bn by 2030 | The Insight Partners
Plastic Container Market Size is expected to grow at a CAGR of 4% from 2022 to 2030
Pune, India, Nov. 10, 2023 (GLOBE NEWSWIRE) — According to our latest study on “Plastic Container Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Material, Container Type, and End-Use,” the plastic container market size was valued at US$ 106.60 billion in 2022 and is expected to reach US$ 146.43 billion by 2030; it is estimated to register a CAGR of 4% from 2022 to 2030. The report highlights key factors driving the plastic container market growth and prominent players along with their developments in the market.
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A Plastic Container is a versatile and widely used storage and packaging solution. These containers are typically made from various types of plastic materials, such as polyethylene, polypropylene, or PET, which can vary in terms of strength, durability, and suitability for different applications. These containers come in a wider range of shapes, sizes, and designs, making them suitable for diverse purposes. Plastic Containers are preferred for their durability, lightweight nature, and moisture resistance, making them ideal for preserving food freshness, protecting goods during shipping, and ensuring long-lasting storage solutions. Many are designed with secure lids or seals to keep contents airtight or prevent leaks. Additionally, their transparency allows for easy identification of what’s inside, making organization and access a breeze. In the personal care & cosmetics sector, cosmetics companies often require unique and aesthetically pleasing packaging to attract consumers. Plastic Containers can be molded into various shapes, sizes, and designs, allowing brands to create visually appealing and distinctive product packaging. This flexibility is crucial in the cosmetics industry, where product presentation and branding are essential.
Plastic Containers are incredibly versatile and come in various shapes, sizes, and designs. They cater to a wide range of applications, from food storage and transportation to organizing household items and packaging industrial goods. Their adaptability makes them a practical choice for diverse needs, driving demand across multiple sectors. Plastic Containers are cost-effective in terms of production, and this cost-effectiveness extends to consumers. Their lightweight construction reduces shipping expenses, making them an economical choice for businesses. As a result, they are often preferred for packaging goods and products, which, in turn, fuels demand. In addition, the airtight and moisture-resistant properties of Plastic Containers make them ideal for preserving food freshness. This quality, combined with easy sealing mechanisms, is crucial for maintaining hygiene and preventing spoilage, increasing the demand for plastic food storage containers in households and the food industry. Furthermore, continuous innovation in Plastic Container design has resulted in specialized containers tailored to specific industries. For example, pharmaceutical companies require containers with tamper-evident features, while the cosmetic industry relies on uniquely shaped containers for product packaging. These innovations drive demand in niche markets. Further, the food industry significantly influences the Plastic Container market growth, primarily due to its packaging and distribution needs, as well as evolving consumer preferences. Ensuring the safety and preservation of food products is a top food industry priority. Plastic Containers are favored for their ability to create a secure, airtight environment that helps prevent contamination and extends the shelf life of various food items. This quality is particularly crucial in preventing spoilage and maintaining product quality during storage and transportation. With the shift towards fast-paced and on-the-go lifestyles, the demand for convenient, portable food options has surged. Plastic Containers are lightweight, durable, and easy to handle, making them the perfect choice for packaging individual servings, takeout meals, or pre-packaged foods. Their contribution to food convenience aligns with modern consumer preferences.
However, concerns about plastic pollution, marine litter, and the longevity of plastic waste in landfills have led to calls for more sustainable packaging alternatives. Government regulations and policies also play a critical role in limiting the Plastic Container market growth. Many countries have implemented bans or restrictions on single-use plastics, and there is a growing push for extended producer responsibility (EPR) laws, which could require manufacturers to manage and recycle their packaging waste. Organized retail and e-commerce platforms provide a broader reach and greater visibility for food packaging. Consumers increasingly prefer organized retail formats due to the convenience and wide range of products they offer. Organized retail, such as supermarkets, hypermarkets, and specialty stores, offers a wide range of produce, dairy products, meat, seafood, ready-to-eat (RTE) meals, and more. The convenience of having multiple products under one roof attracts consumers and encourages them to choose organized retail over traditional retail formats. The diverse product assortment requires appropriate packaging to ensure product integrity, hygiene, and presentation on store shelves. All these factors could limit the Plastic Container market growth.
Global Plastic Container Market Analysis: Competitive Landscape and Key Developments
Amcor Plc; Sonoco Products Company; Berry Global Inc.; Plastipak Holdings, Inc.; ALPLA Werke Alwin Lehner GmbH & Co KG; Graham Packaging Company; Greiner Packaging International GmbH; Silgan Plastics LLC; Huhtamäki Oyj; and Reynolds Consumer Products are among the players operating in the global Plastic Container market. The market players focus on providing high-quality products to fulfill customer demand
The report includes the segmentation of the Global Plastic Container market as follows:
The global Plastic Container market is segmented on the basis of material, container type, end-use, and geography. Based on material, it is segmented into polyethylene terephthalate, polypropylene, high-density polyethylene, low-density polyethylene, and others. In terms of container type, the market is bifurcated into bottles & jars, pails, tubs, cups & bowls, and others. On the basis of end-use, the Plastic Container market is segmented into beverages, food, pharmaceuticals, personal care & cosmetics, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America Plastic Container market is subsegmented into Brazil, Argentina, and the Rest of South & Central America.
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Impact of COVID-19 Pandemic on Plastic Container Market
In the early stages of the pandemic, there was a surge in demand for Plastic Containers due to their use in packaging and preserving essential goods, such as food, pharmaceuticals, and medical supplies. This spike in demand stemmed from the need for hygienic and safe packaging options as people stockpiled necessities and restaurants and takeout services turned to single-use containers. At the same time, the COVID-19 pandemic has adversely altered the status of the chemicals & materials sector and negatively affected the Plastic Container market growth. The implementation of measures to combat the spread of SARS-CoV-2 has aggravated the situation and declined the growth of various industries. As a result, there was a sudden disruption in operational efficiencies and affected the entire value chains; many industries faced several challenges owing to the shutdown of national and international boundaries. The COVID-19 pandemic has restrained the import and export of Plastic Containers in different countries, hampering the Plastic Container market growth. The shortage of Plastic Containers due to the COVID-19 pandemic increased its prices rapidly across the world. On the flip side, the pandemic heightened awareness of environmental concerns, as PPE (personal protection equipment) waste and single-use plastics, including containers, become a visible issue. Environmental groups and consumers expressed concerns about the plastic waste surge and its environmental impact. This led to calls for more sustainable and eco-friendly packaging solutions and, in some cases, regulatory efforts to limit single-use plastics.
Furthermore, the pandemic also accelerated e-commerce and food delivery trends, leading to a greater reliance on plastic packaging for online orders. While this provided opportunities for the market, it also increased scrutiny of the industry’s environmental impact and sustainability efforts. In addition, several companies operating in the manufacturing industries revived their businesses owing to the ease of restrictions. Hence, the demand for Plastic Containers is rising worldwide, especially among the food & beverage, pharmaceuticals, and personal care & cosmetics sectors.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
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