Plastic Containers Market

Plastic Containers Market Analysis by Material (Polypropylene, Polystyrene, Polyethylene, High-Density Polyethylene, Low-Density Polyethylene, Polyethylene Terephthalate, and Others); by Product (Bottles, Boxes & Bins, Trays, Cups, Lids, Thin Wall Pails, Bowls, and Others); by Manufacturing (Thermoformed, Vacuum Technology, Injection Molded Technology, and Others); by End-Use (Beverages, Cosmetic, Household Care, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 3313 | Published On: Jan 20, 2023

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • Amcor Group GmbH has launched its latest OmniPack PET bottles to meet the requirements for eCommerce-ready packaging.
  • ALPLA Group along with Vöslauer has entered into a partnership to develop a new PET bottle for the Austrian market that will reduce the carbon footprint by 30%.


Global Plastic Containers Market Definition

Plastic containers are food storage units that can store both solid and liquid foods. These containers are composed of various polymers, that are derived from natural gas or crude oil. These containers are generally made from various polymers, such as polyethylene terephthalate, high-density polyethylene, Polyethylene, and so on. Plastic containers are made through a scientifically engineered process. During the manufacturing process, they use less energy than metal and glass containers. Various chemical methods are implemented to convert crude petroleum substances into thermoplastics that are molded, structured, and formed into highly robust, long-lasting, and sturdy shipping and storage containers.

Plastic containers come in a variety of shapes and sizes. Large bulk containers, thin and transparent packs, and impact-resistant plastic cases were all made possible by advancements in manufacturing technology. Plastics have been considered "wonder materials" throughout the decades. It is an inexpensive, light, durable, and sturdy material, and it does not corrode. As a result, plastic is well adapted to the manufacturing of plastic containers and other useful products.

There are numerous advantages associated with plastic containers. These containers are lightweight with thinner walls that reduce their mass. Plastic containers do not deteriorate easily under typical conditions as of their chemical and abrasion resistance. Therefore, they have a longer service life. In addition, there are some plastic compounds that improve durability even further by providing resistance to oxidation and exposure to ultraviolet rays. Plastic trays and containers are an important part of the modern economy. Their widespread application in modern retail and food service scenarios, as well as in modern manufacturing and retail settings, makes them irreplaceable.


Global Plastic Containers Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~4%

Base Year Market Size (2022)

~ USD 40 Billion

Forecast Year Market Size (2033)

~ USD 80 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Plastic Containers Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global plastic containers market is estimated to garner a revenue of ~USD 80 billion by the end of 2033 by growing at a CAGR of ~4% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 40 billion in the year 2022. The growth of the market can be attributed to the rapid growth in the plastic industry. For instance, a recent report suggests that the total value of the United States plastic shipments was around USD 400 billion in 2020. Further, the increasing need for single-use packaging, coupled with a worldwide surge in the use of rigid plastic containers for packaging, is also expected to add to the market growth.

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In addition to these, factors that are believed to fuel the market growth of plastic containers include their being lightweight and easy to handle. Additionally, the usability of plastic containers comes in a variety of applications, such as the storage of chemicals, personal care products, food and beverages, and pharmaceutical products for transport and storage. Further, plastic containers are as strong as steel and have very good durability. As a result, the plastic product has grown considerably in the past few years, which in turn, is expected to bring lucrative opportunities in the global plastic containers market. For instance, as of 2019, it was estimated that in the United States, almost 40 million tons of plastic were used every year.


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Global Plastic Containers Market: Growth Drivers and Challenges

Growth Drivers

  • Faster Plastic Production Rate – Being light-weight, affordable, and non-reactant, containers made of plastic are finding applications across the spectrum. The versatility of plastic has propelled the population to produce more plastic containers, which are further projected to fuel the market growth. According to the Organization for Economic Cooperation and Development's most recent reports, the worldwide manufacturing of plastic increased from 2000 to 2019 and surpassed an estimated 460 million tons.

  • Increased Need for Plastic Products – We use numerous plastic products on an everyday basis such as storage boxes, toothbrushes, bins, and so on. Even several manufacturing organizations are also employing plastic in the form of packaging bottles and bags for the packaging of their products. Such an upsurge in the need for plastic products is estimated to bolster the demand for plastic containers over the forecast period. The recent data disclosed in 2022, around one million plastic bottles are purchased every minute, and around five trillion plastic bags are used every year across the world.

  • Recent Boom in Automotive Industry - As per recent statistics, the revenue generation by the global automotive industry by 2030 is projected to reach around USD 9 trillion.

  • Expansion of Packaging Sector - The latest reports revealed that the packaging industry in the United States was valued at USD 190 Billion in 2021 and is forecasted to reach USD 220 Billion by 2027.

  • Spike in Chemical Industry – Latest reports stated that the revenue garnered by the global chemical industry in the year 2021 was approximately 4 trillion dollars, a considerable increment from the previous year with 3 trillion dollars. 

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 into our bodies through the skin, dissipate into the atmosphere, or be ingested through food or beverages. The toxicity of plastic can cause several health issues, such as liver dysfunction, cancers, eye vision problems, genotoxic, lung disorders, and so on. Whereas, this toxicity of plastic can affect the environment by releasing hazardous chemicals into soil and water that highly affect the creatures on land and sea. For instance, every year, marine plastic pollution kills almost 150,000 marine mammals and turtles, as well as 2 million sea birds. Hence, this factor is anticipated to dampen the market’s growth during the projected time frame.
  • Rising Awareness About Plastic Waste
  • Stringent Governmental Rules Regarding Environmental Protection


Market Segmentation

The global plastic containers market is segmented and analyzed for demand and supply by products into bottles, boxes & bins, trays, cups, lids, thin wall pails, bowls, and others. Out of these eight types of product segments, the bottles segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the high utilization of plastic bottles by the population. For instance, a report published in 2022 stated that about 1 million plastics are used by humans per minute in total across the globe. Along with this, there is an increase in the use of plastic bottles in a variety of industries, such as food and beverage, pharmaceuticals, and so on, for the packaging of various types of beverages and liquid medicines. Further, the high production rate of bottles for everyday use is anticipated to be another growth factor for the growth of the segment in the coming years. For instance, in 2021, around 500 billion PET bottles were produced across the globe.

The global plastic container market is also segmented and analyzed for demand and supply by material into polypropylene, polystyrene, polyethylene, high-density polyethylene, low-density polyethylene, polyethylene terephthalate, and others. Amongst these seven segments, the polyethylene terephthalate segment is expected to garner a significant share, backed by several associated advantages with it such as lightweight, durability, and recyclability. Moreover, polyethylene terephthalate (PET) has exponential barrier properties against vapor, oils, and so on that make it a most suitable plastic for food, and beverage packaging. For instance, PET bottles are used to pack around 75% of mineral water, soft drinks, and juice throughout the world. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.

Our in-depth analysis of the global plastic containers market includes the following segments:

            By Material

  • Polypropylene
  • Polystyrene
  • Polyethylene
  • High-density Polyethylene
  • Low-density Polyethylene
  • Polyethylene Terephthalate
  • Others

            By Product

  • Bottles
  • Boxes & Bins
  • Trays
  • Cups
  • Lids
  • Thin Wall Pails
  • Bowls
  • Others

           By Manufacturing

  • Thermoformed
  • Vacuum Technology
  • Injection Molded Technology
  • Others

            By End-Use

  • Beverages
  • Cosmetics
  • Household Care
  • Others


Global Plastic Containers Market Regional Synopsis

The Asia Pacific plastic containers market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the staggering growth in the higher production rate of plastic in the region. As consumption of soft drinks, packaged juice, and bottled water has been surging in the region, which is further fueling the demand for plastic containers to fulfill the purpose of packaging. For instance, in 2019, Asia accounted for approximately 50% of the total global production of plastic materials. Further, the presence of a strong network of pharmaceutical and cosmetic manufacturers is also anticipated to contribute to the market growth in the region over the forecast period.

Furthermore, the Europe plastic containers market is projected to exhibit notable market growth by the end of 2033. The growth of the market can be attributed to the high surge in the intake of packaged and processed food, followed by the increased proportion of working people as their hectic work schedule has expanded the higher demand for convenient food products in the region. For instance, the EU employment ratio (for people aged between 20-64) expanded by around 1.5 percentage points from around 72% in 2020 to 74% in 2021. In addition to this, the presence of numerous premium car manufacturers in the region is fueling the demand for automotive coolants, oils, and lubricants in this region. This factor is also anticipated to drive market growth further throughout the forecast period in the region.

global-plastic-container-market-share

global-plastic-container-market-share
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Top Featured Companies Dominating the Global Plastic Containers Market

    • Amcor Group GmbH

      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Plastipak Holdings, Inc.
    • ALPLA Group
    • Graham Packaging Company, L.P.
    • Berry Global Inc.
    • Greiner AG
    • Visy Industries Australia Pty Ltd
    • Shanghai Zijiang Enterprise Group Co., Ltd
    • Crown Holdings, Inc.
    • Silgan Holdings Inc.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the plastic containers market?

Ans: Faster plastic production rate, increased need for plastic products, and recent boom in automotive industry are the major factors driving the market growth.

2) What would be the CAGR of plastic containers market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the plastic containers market growth?

Ans: Adverse effect of plastic on humans and environment, rising awareness about plastic waste, stringent governmental rules regarding environmental protection are estimated to be the growth hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of plastic containers market in future?

Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the plastic containers market?

Ans: The major players in the market are Amcor Group GmbH, Plastipak Holdings, Inc., ALPLA Group, Graham Packaging Company, L.P., Berry Global Inc., Greiner AG, Visy Industries Australia Pty Ltd, Crown Holdings, Inc., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the plastic compounding market?

Ans: The market is segmented by material, product, manufacturing, end-use, and by region.

8) Which segment captures the largest market size in the end user segment in the plastic compounding market?

Ans: The bottles segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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