Plastic Containers Market size is poised to surpass USD 240 billion in the year 2035, witnessing around 6% CAGR during the forecast period i.e., 2023 – 2035. In the year 2022, the industry size of plastic containers was USD 67 billion. The growth of the market can be attributed to the rapid growth of the plastics industry. Such as a recent report shows that the total value of plastic shipments in the United States is about USD 400 billion by 2020. Additionally, there is a growing demand for single-use packaging, along with the global increase in the use of rigid plastic containers for packaging is also expected to contribute to the market growth.
In addition, the factors that are believed to drive the growth of the plastic containers market include ease of handling. Additionally, the ease of use of plastic containers comes used in numerous applications, such as chemical storage, personal care products, food and beverage, and pharmaceuticals for transport and storage. In addition, the plastic barrel is as hard as steel and has very good durability. As a result, plastic products have grown tremendously in the past few years and are therefore expected to present a profitable opportunity in the global market.
Growth Drivers
Challenges
Adverse Effect of Plastic on Humans and Environment - The increasing use of plastic has proved to be harmful. Many plastic compounds are thought to be extremely hazardous for humans and the environment. The majority of these additives can be emitted into the atmosphere when exposed to diverse atmospheric conditions since they do not bind to the chemical structure of the plastic. These chemicals can be penetrated our bodies through the skin, dissipate into the atmosphere, or be ingested through food or beverages. Hence, this factor is anticipated to dampen the market's growth during the projected time frame.
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Base Year |
2022 |
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Forecast Year |
2023 – 2035 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~USD 67 billion |
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Forecast Year Market Size (2035) |
~USD 240 billion |
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Regional Scope |
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Product (Bottles, Boxes & Bins, Trays, Cups, Lids, Thin Wall Pails, Bowls)
The bottles segment in the plastic containers market is estimated to hold the largest revenue share during the projected period. The growth of this segment can be attributed to people using more plastic bottles. Such as a report published in 2022 states that a total of about 1 million types of plastic are used by humans every minute worldwide. Along with that, the use of plastic bottles is increasing in many industries such as food and beverage, pharmaceutical, and others, for the packaging of liquid beverages and medicines.
Material (Polypropylene, Polystyrene, Polyethylene, High-Density Polyethylene, Low-Density Polyethylene, Polyethylene Terephthalate)
The polyethylene terephthalate segment is expected to hold 29% share of the global plastic containers market in the assessment period, supported by several advantages associated with it such as light weight, durability, and recyclability. In addition, polyethylene terephthalate (PET) has exponential barrier properties against vapors, oils, and many more that make it a very suitable plastic for food and beverage packaging. For instance, PET bottles are used to package about 75% of mineral water, soft drinks, and juices worldwide.
Our in-depth analysis of the global market includes the following segments:
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Material |
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Product |
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Manufacturing |
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End Use |
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Asia Pacific Market Forecast
The Asia-Pacific plastic containers market, is poised to account for the largest share of 35% between the time period 2023 - 2035. The growth of the market can be mainly attributed to the rising consumption of soft drinks, packaged juices, and bottled water increases in the region. Furthermore, the presence of a strong network of pharmaceutical and cosmetic manufacturers is also expected to contribute to the market growth in the region during the forecast period.
Europe Market Statistics
In addition, the European plastic containers market is expected to experience notable growth towards the end of 2035. The growth of the market can be attributed to the strong increase in consumption of packaged and processed foods, pulling followed by an increase in the employment rate. as their busy work schedules have increased the growing demand for convenience food items in the area. In addition, the presence of many high-end car manufacturers in the region is driving the demand for automotive coolants, oils, and lubricants in this region.
Author Credits: Smruti Ranjan, Rajrani Baghel
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