plastic container market Market Trends

Global Plastic Container Market Overview

Plastic Container Market Size was valued at USD 41.3 Billion in 2023. The Plastic Container industry is projected to grow from USD 43.37 Billion in 2024 to USD 61.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.38% during the forecast period (2024 - 2032). Changing lifestyles, as well as cost-effective and environmentally friendly packaging options are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Plastic Container Market Trends

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  Rise in Rigid Plastic Container Use for Food and Beverage Packaging to Drive Market Growth

  
  

Market CAGR for plastic container is being driven by the increase in rigid plastic container. Containers that are rigid have generally rigid shapes and forms. Due to their strength and low weight, rigid plastic containers are becoming more and more popular in the food and beverage industries. These characteristics make food safe, extend its shelf life, and shield it from chemicals, light, and moisture. Additionally, because to its lightweight qualities, it is a useful packaging material for storing and transporting food items and beverages. The need for rigid containers in the food and beverage industries will rise as a result of shifting consumer purchasing patterns and changing lifestyles.

Moreover, glass containers were frequently used in the past in the pharmaceutical sector to package prescriptions and medications. But recently, this business has shifted its preference away from glass items and towards plastic containers because they are more affordable, simple to use, leak-resistant, and lightweight. Polythene, polypropylene, polyvinyl chloride, and polystyrene are the materials used for containers that are most frequently prefered in the industry. Additionally, plastic-based containers are corrosion-resistant and chemically inert, protecting the pharmaceuticals and extending their shelf life. As a result, the demand will be stimulated during the projection period by the pharmaceutical industry's quick expansion.

According to the International Bottled Water Association, bottled water is the most consumed beverage product in the United States (by volume). According to the International Bottled Water Association (IBWA), bottled water sales in the United States average USD 18.5 billion, representing an 8.8% growth. With a 6.2% increase, per capita consumption tops 42 litres of bottled water. With this rising tendency expected to continue, the need for PET in bottled water packaging is expected to rise.

VPET USA LLC, based in Fontana, California and a portfolio firm of Graham Partners, announced that it bought Canyon Plastics Inc., a California-based packaging molder, in February 2022. On top of vitamins and supplements as consumer-packaged goods, including protein powders and nutraceuticals, among others, Canyon also creates dedicated engineered products for medical and aerospace & defense markets.

Plastic Container Market Segment Insights

Plastic Container Material Insights

The  Plastic Container Market segmentation, based on material includes PET, OP, HDPE, PVC, and LDPE. In 2022, the PET segment dominated the market, accounting for 55.5% of worldwide sales. Because of its multiple advantages for manufacturers and customers, PET is the most prefered alternative for carbonated soft drinks, packaging bottled water, and juice. PET is non-toxic, lightweight, and sturdy, as well as recyclable. PET containers are used to carry around 70% of mineral water, soft drinks, and juice. Over the forecast period, increased consumption of bottled water and juice is expected to broaden the scope of PET packaging.

Plastic Container Product Insights

The  Plastic Container Market segmentation, based on product, includes Bottles & Jars, Cups & bowls, Bags & Pouches. The bottles & jars segment is the market's largest contributor and the fastest-growing container type. Bottles and jars are in high demand due to their use as packaging in the pharmaceutical, food, and beverage sectors. Plastic bottles and jars are inexpensive, leak-proof, and lightweight. As a result, they are regarded as the greatest alternatives for metal and glass bottles and jars. As a result, the increasing demand for bottles and jars from various industries will drive market expansion.

Figure1:  Plastic Container Market, by Product, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Plastic Container Application Insights

The  Plastic Container Market segmentation, based on application, includes Food & Beverages, Personal Care, Pharmaceutical, Consumer goods. In 2022, the food & beverage segment will account for more than 50.0% of worldwide revenue. Over the projected period, the market for beverage packaging is expected to be driven by rising use of bottled water, juice, and functional drinks. The  bottled water market is quickly expanding, with around 600 million households consuming bottled water in 2018. Furthermore, rising soft drink consumption in India and Thailand is predicted to expand the scope of the plastic container over the projection period. According to PepsiCo Indian's bottling partner Varun beverages, India's per capita soft drink consumption is predicted to reach 84 bottles by 2021, which will have a favourable impact on market growth.

Plastic Container Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Plastic Container Market area will dominate this market, Because of the expanding food and pharmaceutical industries. To keep food and beverages from leaking, stiff plastic bottles and jars are commonly employed in the food sector. Because of its lightweight and durable qualities, the product is largely employed in the pharmaceutical business.

Further, the major countries studiedin the market reportare The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2:  PLASTIC CONTAINER MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s Plastic Container Market accounts for the second-largest market share due to increased demand for the substance used in the plastic packaging of automotive lubricants, oils, coolants, and other fluids. Further, the German Plastic Container Market held the largest market share, and the UK Plastic Container Market was the fastest growing market in the European region

The Asia-Pacific Plastic Container Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of the increase in disposable income and rapidly growing pharmaceutical industries in the region. Moreover, China’s Plastic Container Market held the largest market share, and the Indian Plastic Container Market was the fastest growing market in the Asia-Pacific region.

Plastic ContainerKey Market Players & Competitive Insights

Leading market players are investing heavily in R&D to expand their product lines, which will help the Plastic Container Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Plastic Container industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  Plastic Container industry to benefit clients and increase the market sector. In recent years, the Plastic Container industry has offered some of the most significant advantages to medicine. Major players in the Plastic Container Market, including Alpha Packaging Holdings Incorporated (UK), Plastipak Packaging(U S), Rahway Steel Drum Company(U.S.) and The Plastic Bottles Company(UK.) and others, are attempting to increase market demand by investing in R&D operations.

Berry , Inc. is a Fortune 500  manufacturer and marketer of plastic packaging goods. It was formerly known as Berry Plastics Group, Inc. It is headquartered in Evansville, Indiana, and has over 265 facilities around the world, as well as over 46,000 employees. In Fortune Magazine's rating, the corporation is one of the largest Indiana-based companies, with revenues of $14 billion or more in fiscal year 2022. In 2017, the company's name was changed from Berry Plastics to Berry . The business is divided into three segments: (1) Health, Hygiene, and Specialities; (2) Consumer Packaging; and (3) Engineered Materials. Berry claims to be the world's leading manufacturer of aerosol caps, as well as having one of the most comprehensive ranges of container products. March 2022, Berry  Inc. collaborated with Koa to create body cleanser and body moisturiser bottles made entirely of recycled plastic. Berry, as an industry leader in sustainability, is committed to making a positive environmental effect through streamlined processes, continuously engaged partners, and optimised goods, a vision that Koa shares. Because of their shared objective for sustainability in packaging, Koa chose Berry as their supplier for this project.

ALPLA, often known as the ALPLA Group, is an Austrian international acting plastics producer and recycler based in Hard, specialising in blow-moulded bottles and caps, injection-moulded parts, preforms, and tubes. It is one of the world's major makers of rigid plastic packaging solutions, with 190 production sites in 46 countries, around 23,300 people, and annual sales of € 5.10 billion. April 2022, Alpha Packaging, a renowned manufacturer and decorator of high-quality plastic bottles and jars, has purchased Boxmore Plastics Limited. The acquisition of Boxmore complements Alpha's worldwide expansion strategy and increases the company's footprint in the European market.

Key Companies in the Plastic Container market include

• Graham Packaging (U.S.)


• Constar International (U.S.)


• Arcor Limited(Australia)


• International Packaging (U.S.)


• Anchor Packaging Incorporated(U.S)


• Werke Alwin Lehner GmbH & Company KG (Austria)


• Plastipak Packaging (U.S)


• Alpha Packaging Holdings Incorporated (U.K)


• Plastipak Packaging(U.S)

Plastic Container Industry Developments

In January 2022, Novolex produced an innovative recyclable tray for meat, fish, and poultry items. Piranh is the container's name. Instead of adding a layer of polythene or glue to secure the lid of modified atmospheric packaging (MAP), it is sealed with a set of raised teeth that run around the sealing flange.

In March 2020,  ALPLA collaborated with KHS, a bottling and packaging system specialist, to create a 1-liter reusable PET bottle. The refilling bottle weighs up to ten grammes less than ordinary bottles and can contain recyclable materials.

Plastic Container Market Segmentation

Plastic Container Market By Material Outlook

• PET


• OP


• HDPE


• PVC


• LDPE

Plastic Container Market By Product Outlook

• Bottles & Jars


• Cups & bowls


• Bags & Pouches

Plastic Container Market By Application Outlook

• Food & Beverages


• Personal Care


• Pharmaceutical


• Consumer goods

Plastic Container Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America