Global Molded Plastic Packaging Market Overview
The Molded Plastic Packaging Market Size was estimated at 239.6 (USD Billion) in 2022.The Molded Plastic Packaging Industry is expected to grow from 251.12(USD Billion) in 2023 to 383.5 (USD Billion) by 2032. The Molded Plastic Packaging Market CAGR (growth rate) is expected to be around 4.81% during the forecast period (2024 - 2032).
Key Molded Plastic Packaging Market Trends Highlighted
Molded Plastic Packaging absorbing developments and innovations from every end use industry will help the market grow. The convenience packaging trend, along with the increasing demand for lightweight and protective packaging, is contributing to the increase in the market. The increased use of molded plastic packaging in areas including food and beverages, pharmaceuticals, and personal care is one of the drivers. Sustainable Packaging trends also bring a path forward for the use of sustainable molded plastic packaging. The latest trends involve the use of advanced manufacturing methods to enhance the quality and efficiency of molded plastics, for example, blow molding and injection molding. Also, the usage of smart packaging elements includes RFID and NFC which increases the functionalities and convenience levels of molded plastics packing.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Molded Plastic Packaging Market Drivers
Growing Demand for Convenience Packaging
One of the reasons the Molded Plastic Packaging Market Industry is growing is the increasing demand for convenience packaging. Consumers prefer a selection of products that are easy to open, reseal and carry around. For manufacturers, molded plastic packaging offers an easy and economical way of packaging to fulfill this requirement. The development in the e-commerce industry has also been adding more demand for convenience packaging due to the consumers’ expectations of undamaged goods upon delivery over the internet.Molded plastic packaging can provide the necessary protection during shipping and handling when needed without adding too much weight to the packaging or the cost of disposal.
Rising Environmental Concerns
Growing environmental concerns are another key driver of the Molded Plastic Packaging Market Industry. Consumers are becoming increasingly aware of the environmental impact of plastic packaging and are demanding more sustainable options. Molded plastic packaging can be made from recycled materials and can be recycled itself, which helps to reduce plastic waste and pollution. Additionally, molded plastic packaging can be designed to be lightweight and space-efficient, which reduces transportation emissions.
Advancements in Technology
Advancements in technology are also driving the growth of the Molded Plastic Packaging Market Industry. New technologies are enabling the development of more innovative and efficient molded plastic packaging solutions. For example, 3D printing is being used to create custom-molded plastic packaging that is tailored to specific product requirements. Additionally, new materials are being developed that are stronger, lighter, and more durable than traditional plastics, which is opening up new possibilities for molded plastic packaging.
Molded Plastic Packaging Market Segment Insights
Molded Plastic Packaging Market Material Type Insights
The Material Type segment of the Molded Plastic Packaging Market is comprehensively segmented into Polyethylene Terephthalate (PET), High-Density Polyethylene (HDPE), Polypropylene (PP), Polyvinyl Chloride (PVC), and Polyethylene (PE). Polyethylene Terephthalate (PET) held the largest market share in 2023, accounting for approximately 42.1% of the Molded Plastic Packaging Market revenue. PET is a lightweight, shatter-resistant, and recyclable material, making it a preferred choice for packaging food and beverages. Its transparency and ability to be molded into various shapes contribute to its widespread adoption.High-density polyethylene (HDPE) is another significant material type, projected to witness steady market growth during the forecast period. HDPE is known for its high strength, durability, and resistance to chemicals. It is commonly used in the production of bottles, containers, and drums for packaging a range of products, including detergents, chemicals, and personal care items. Polypropylene (PP) is a versatile material that offers good clarity, flexibility, and resistance to heat and chemicals. Its unique properties make it suitable for packaging food, medical supplies, and automotive parts.The market for molded plastic packaging made from PP is anticipated to expand at a moderate pace in the coming years. Polyvinyl Chloride (PVC) is commonly used in the production of pipes, fittings, and window frames. In the molded plastic packaging segment, PVC is employed in the manufacturing of bottles, films, and sheets. It offers good barrier properties and is resistant to moisture and chemicals. However, concerns regarding the environmental impact of PVC may hinder its market growth to some extent. Polyethylene (PE) is a flexible and lightweight material, making it suitable for packaging a variety of products, including food, beverages, and consumer goods.It is also commonly used in the production of films, bags, and sheets. The market for molded plastic packaging made from PE is expected to grow steadily in the coming years, driven by its versatility and cost-effectiveness. Overall, the Material Type segment of the Molded Plastic Packaging Market is highly competitive, with each material type offering unique advantages and target applications. The choice of material depends on factors such as product compatibility, packaging requirements, and sustainability concerns. As manufacturers continue to innovate and develop new materials, the market dynamics are likely to evolve in the future.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Molded Plastic Packaging Market End-Use Industry Insights
The End-Use Industry segment plays a crucial role in driving the Molded Plastic Packaging Market's growth. Among the key end-use industries, Food and Beverages held the dominant market share of around 35% in 2023, due to rising demand for packaged food and beverages. The Pharmaceuticals segment is projected to exhibit a steady growth rate, reaching a valuation of approximately USD 60 billion by 2032, driven by increasing demand for innovative and safe packaging solutions for pharmaceutical products. Personal Care and Cosmetics, Consumer Electronics, and Automotive are other notable end-use industries that contribute significantly to the market growth.The increasing demand for lightweight, durable, and cost-effective packaging solutions in these industries is expected to fuel the segment's growth in the coming years.
Molded Plastic Packaging Market Molding Process Insights
Injection molding, blow molding, thermoforming, rotational molding, and extrusion blow molding are the key molding processes used in the molded plastic packaging market. Injection molding held the largest market share in 2023, accounting for over 45% of the revenue. This process involves injecting molten plastic into a mold cavity to form the desired shape. Blow molding is another widely used process, with an estimated market share of around 20% in 2023. It involves inflating a molten plastic parison inside a mold to create hollow containers.Thermoforming, rotational molding, and extrusion blow molding collectively accounted for the remaining market share in 2023. Thermoforming involves heating a plastic sheet and then forming it into a mold using pressure or vacuum. Rotational molding involves rotating a heated mold filled with plastic powder, which then coats the mold surface to form the desired shape. Extrusion blow molding is similar to blow molding, but it uses an extruder to continuously produce a plastic parison, which is then inflated inside a mold. The growth of the molded plastic packaging market is driven by factors such as the increasing demand for lightweight and durable packaging solutions, the rising adoption of plastic packaging in various industries, and the growing emphasis on sustainability and recyclability.
Molded Plastic Packaging Market Closure Type Insights
The Closure Type segment of the Molded Plastic Packaging Market is expected to grow significantly in the coming years, driven by increasing demand for convenient and sustainable packaging solutions. Caps and lids are projected to account for the largest share of the market, owing to their widespread use in the beverage, food, and pharmaceutical industries. Bottles and jars are also expected to witness steady growth, particularly in the food and beverage sector. Trays and tubs are gaining popularity in the packaging of fresh produce and ready-to-eat meals.Films and wraps are expected to show promising growth, driven by their versatility and ability to extend product shelf life. Flexible packaging is also anticipated to gain traction owing to its lightweight and space-saving properties. The Molded Plastic Packaging Market segmentation provides valuable data and insights for industry participants, enabling them to make informed decisions and capitalize on growth opportunities.
Molded Plastic Packaging Market Application Insights
The Molded Plastic Packaging Market is segmented into Primary Packaging, Secondary Packaging, Tertiary Packaging, Transportation and Logistics, and Retail Display and Merchandising based on Application. The Primary Packaging segment accounted for the largest revenue share in 2023 due to its extensive use in safeguarding products from contamination and damage during storage and transportation. The Secondary Packaging segment is expected to witness significant growth over the forecast period, driven by the rising demand for protective packaging solutions for e-commerce and online retail.The Tertiary Packaging segment is projected to grow at a steady pace due to increased demand for bulk packaging and transportation of goods. The Transportation and Logistics segment is poised for growth due to the increasing need for efficient and cost-effective packaging solutions for long-distance transportation. The Retail Display and Merchandising segment is anticipated to grow steadily, fueled by the growing popularity of point-of-sale displays and in-store marketing initiatives.
Molded Plastic Packaging Market Regional Insights
The regional segmentation of the Molded Plastic Packaging Market offers valuable insights into the geographical distribution of market revenue, market share, and industry growth trends. Among the key regions analyzed in this report are North America, Europe, APAC, South America, and MEA. North America holds a significant share of the Molded Plastic Packaging Market due to factors such as the presence of major players, technological advancements, and growing demand from various end-use industries. The region is expected to maintain its dominance over the forecast period, with a projected market revenue of approximately USD 115 billion by 2024.Europe is another prominent region in the Molded Plastic Packaging Market, driven by high disposable incomes, consumer awareness, and stringent regulations regarding packaging. The region is home to several leading manufacturers and is expected to witness steady growth in the coming years. APAC is anticipated to be the fastest-growing region in the Molded Plastic Packaging Market, with a projected market revenue of USD 102 billion by 2024. This growth is attributed to the increasing demand for packaged food and beverages, rising consumer spending, and expanding manufacturing industries in countries such as China and India.South America and MEA are emerging markets in the Molded Plastic Packaging Market, with significant growth potential. These regions are expected to benefit from rising urbanization, improving standards of living, and increasing investments in infrastructure. 
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Molded Plastic Packaging Market Key Players And Competitive Insights
Major players in the Molded Plastic Packaging Market are engaged in various strategies like launching new products and services to strengthen their market presence. These companies are also entering into partnerships and collaborations to expand their geographical presence. For instance, in 2022, Amcor and Bemis Company Inc. signed an agreement for an equity investment by Amcor in Bemis in return for a 25 percent stake in Bemis, a leading provider of flexible packaging solutions in the Americas. Companies are also focusing on introducing sustainable and innovative packaging solutions to reduce environmental impact. Leading Molded Plastic Packaging Market players are continuously investing in research and development to bring about innovative products that meet the changing consumer demands. The Molded Plastic Packaging Market industry is fragmented, with many regional and players. Key players are focusing on strategic initiatives, such as acquisitions, mergers, and partnerships, to strengthen their position in the market.Amcor is a leading supplier of responsible packaging solutions. The company offers a broad portfolio of flexible and rigid packaging products, including molded plastic packaging. Amcor has a presence, with operations in over 40 countries. The company's molded plastic packaging products are used in a variety of industries, including food, beverage, personal care, and healthcare. Amcor is committed to sustainability and innovation, and the company has developed a number of environmentally friendly packaging solutions. For instance, Amcor has developed a range of lightweight, recyclable plastic containers that reduce the use of materials and energy.Berry is another leading player in the Molded Plastic Packaging Market industry. The company offers a wide range of molded plastic packaging products, including containers, closures, and dispensing systems. Berry has a presence, with operations in over 20 countries. The company's molded plastic packaging products are used in a variety of industries, including food, beverage, personal care, and healthcare. Berry is focused on innovation, and the company has developed a number of patented packaging technologies. For instance, Berry has developed a tamper-evident closure that helps to protect products from counterfeiting and contamination.
Key Companies in the Molded Plastic Packaging Market Include
Molded Plastic Packaging Market Industry Developments
The molded plastic packaging market is projected to reach USD 383.5 billion by 2032, exhibiting a CAGR of 4.81% during the forecast period (2024-2032). Rising demand for packaged food and beverages, coupled with the growing adoption of sustainable packaging solutions, is expected to drive market growth. Furthermore, advancements in molding technologies and the increasing use of recycled plastics are contributing to the market's expansion. Key industry participants are focusing on mergers and acquisitions to strengthen their market position and expand their product offerings. Recent developments include Amcor's acquisition of Bemis Company in 2019 and Berry Global's acquisition of RPC Group in 2021. These strategic moves indicate the ongoing consolidation trend in the molded plastic packaging industry.
Molded Plastic Packaging Market Segmentation Insights
Molded Plastic Packaging Market Material Type Outlook
Molded Plastic Packaging Market End-Use Industry Outlook
Molded Plastic Packaging Market Molding Process Outlook
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Injection Molding
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Blow Molding
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Thermoforming
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Rotational Molding
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Extrusion Blow Molding
Molded Plastic Packaging Market Closure Type Outlook
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Caps and Lids
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Bottles and Jars
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Trays and Tubs
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Films and Wraps
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Flexible Packaging
Molded Plastic Packaging Market Application Outlook
Molded Plastic Packaging Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
239.6(USD Billion) |
| Market Size 2023 |
251.12(USD Billion) |
| Market Size 2032 |
383.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.81% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Amcor plc, OwensIllinois, Inc., Uflex Limited, Berry Group, Inc., Crown Holdings, Inc., Mondi plc, Sonoco Products Company, Graham Packaging Company, LP, Teijin Limited, DS Smith plc, Plastipak Holdings, Inc., WestRock Company, Reynolds Group Holdings Limited, Huhtamaki Oyj |
| Segments Covered |
Material Type, End-Use Industry, Molding Process, Closure Type, Application, Regional |
| Key Market Opportunities |
E-commerce growth Rising demand for convenience packaging Increasing adoption in healthcare Sustainable and eco-friendly packaging Advances in molding technologies |
| Key Market Dynamics |
Growing demand for sustainability Technological advancements Rising e-commerce industry Increasing adoption in the healthcare sector Innovations in packaging design |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Molded Plastic Packaging Market is expected to reach USD 251.12 billion in 2023 and is projected to grow at a CAGR of 4.81% to reach USD 383.5 billion by 2032.
North America is expected to hold the largest market share, accounting for over 40% of the market in 2023.
Rising demand for packaged food and beverages, increasing use of plastics in healthcare and automotive industries, and growing e-commerce sector are the key growth drivers of the market.
Major applications include food and beverage packaging, healthcare packaging, automotive packaging, and industrial packaging.
Key competitors include Amcor, Berry Global, Sealed Air, Sonoco Products Company, and Plastipak Holdings.
The Molded Plastic Packaging Market is projected to grow at a CAGR of 4.81% from 2024 to 2032.
Challenges include environmental concerns related to plastic waste, rising raw material costs, and competition from alternative packaging materials.
Sustainability concerns are driving the adoption of eco-friendly packaging solutions, such as bioplastics and recyclable materials.
Advancements in automation and digital printing are enhancing production efficiency and enabling customization.
Emerging trends include the use of lightweight packaging, smart packaging, and personalized packaging.
