The Global Plastic Containers market is expected to grow at a CAGR of 5.60 % during the forecast period 2022-2028.
The market is divided into product type, material type, application type, plastic type, and by region
Plastic container means any formed or molded and hermetically sealed, or made airtight with a metal or plastic cap, rigid container, other than a plastic bottle, intended for single-use and having a capacity of at least eight ounces, but less than five United States gallons, with a minimum wall thickness of not less than 0.010 inches, and composed primarily of thermoplastic synthetic polymeric material.
The container can be an individual, separate, rigid plastic bottle, can, jar, or carton, except for a blister pack, which is originally used to contain a product that is the subject of a retail sale.
The use of engineered plastic can survive in extreme environments and does not degrade in extreme temperatures, thus preserving the integrity of products such as food and beverages, and cosmetics. Moreover, the low cost and excellent printability associated with plastic make it a lucrative packaging material. Extrusion-based plastic packaging products such as wraps & films, pouches, and bags are widely employed in most consumer as well as industrial applications in the country owing to their performance benefits and sustainability.
The high penetration of organized retail has also significantly contributed to the large share of plastic packaging in the country. Globally, the packaged food & beverage sector has been experiencing robust growth for the past several years.
The recent outbreak of coronavirus had a negative impact on the plastic container market. The main cause for this is the shutting down of production units brought in by the government's imposition of lockdowns in various countries. Because of the fear of a lockdown, individuals are restoring objects and, as a result, are panic-buying and stockpiling vital goods and deliverables in large quantities. Online portals are used to place bulk orders for everything from staple foods to fresh foods. The distribution of the same is handled by a variety of sources and is packaged in plastic containers. Governments are taking large-scale initiatives to ensure a smooth flow of products between various locations within and outside of their countries.
By product type, cups & bowls sales are expected to dominate the global market.
By material type, the PET segment will dominate the market with more than 29% of the market share.
By application type, the food & beverages segment will lead the Plastic Container Market and is anticipated to show a similar trend during the analysis period.
In terms of region, Asia-Pacific is predicted to lead the market.
“The introduction of innovative solutions, such as active packaging, modified atmosphere, edible, and bioplastic packaging extends profitable opportunities to the market players in the forecast period of 2022 to 2028. Additionally, the awareness regarding waterborne diseases will further expand the future growth of the plastic container market,” as per Eternity Insights Analysis
Among the industry's key players are Graham Packaging, Amcor Limited, International Packaging, Anchor Packaging Incorporated, Werke Alwin Lehner GmbH & Company KG, Plastipak Packaging, Airlite Plastics, and others
Manufacturers are strategically collaborating with technology partners for long supply relations and to intricate a central control unit for different applications.
The research report analyses the market demand trend for Plastic containers. The global market is based on COVID-19 impact, macroeconomic factors, market trends & market background. As per Eternity Insights’ research scope, the Plastic Container market report is studied and analyzed in the following segments such as by technology type, sales channel, vehicle type & regions. The Plastic Container market report gives us qualitative and quantitative information about the companies.
Bottles & Jars
Cups & Bowls
Bags & Pouches
Food & Beverages
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