Plastic Container Market Is Slated To Witness Tremendous Growth In Future

Plastic Container Industry

The global plastic container market size is expected to reach USD 149.9 billion by 2030, registering a CAGR of 5.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing demand for convenient food products such as functional and nutritional drinks is expected to expand the scope for packaging container over the forecast period.

Packaging plays a crucial role in adding value to the product. Plastic packaging in the food and beverages industry is increasingly preferred owing to its aesthetic appeal and convenience, which attracts both manufacturer and consumer. This, in turn, is expected to fuel product demand over the forecast period.

PET is prominent material used for manufacturing plastic container. Attributes such as non-toxic, safe, and lightweight make it a preferred material for soft drinks, juice, and bottle water. Growing consumption of juice, functional drinks, and bottle water is expected to increase use of PET bottle and container in the food and beverages industry. Use of HDPE in plastic container is expected to witness significant growth over the forecast period.

HDPE is a preferred material for cosmetics, milk bottle, and jars. HDPE have superior barrier protection properties that protect the product from harmful radiation, moisture, and microbes, thereby extending the shelf life of product. Moreover, this material has superior strength and can be recycled, thereby making it a preferred material for shampoo, industrial lubricants, and paints.

Beverages accounted for more than 50.0% share of the global revenue in 2018. Increasing consumption of soft drinks in emerging countries such as India is expected to increase product demand over the forecast period. The cosmetic segment is expected to expand at the highest CAGR of 4.7% over the forecast period owing increasing demand for cosmetic products in China, South Korea, and India. This, in turn, is expected to expand the scope of plastic container over the next few years.

Asia Pacific dominated the global plastic containermarket and is expected to maintain its lead throughout the forecast period. Hectic working schedule has increased the demand for convenient food and beverages. This trend has resulted in increased demand for nutritional food and beverages, which, in turn, necessitated product launches in the region. Such factors are expected to expand the scope of plastic packaging, as this packaging type helps in extending product’s shelf life.

Curious about the Plastic Container Market, Download your FREE sample copy now and get a sneak peek into the latest insights and trends.

Plastic Container Market Segments Highlights:

• Polyethylene Terephthalate (PET) dominated the market and accounted for a share of 55.6% in 2023. PET is the preferred packaging material for carbonated drinks, bottled water, and juice due to its light weight, durability, and recyclability.
• Beverages accounted for the largest market revenue share of 52.7% in 2023. Beverage containers, primarily bottles and jars, play a critical role in the supply chain, ensuring product safety and extended shelf life while protecting against leakage, moisture, and chemical exposure.
• Asia Pacific plastic container market led the global plastic container market with a revenue share of 32.0% in 2023. The region is poised for significant growth in the plastic container industry, driven by the rising demand for plastic bottles for bottled water and carbonated beverages.

Plastic Container Market Report Segmentation

Grand View Research has segmented the plastic container market on the basis of on material, application, and region:

Plastic Container Material Outlook (Revenue, USD Million, 2018 - 2030)

• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• Low-density Polyethylene (HDPE)
• High-density Polyethylene (HDPE)
• Others

Plastic Container Application Outlook (Revenue, USD Million, 2018 - 2030)

• Beverages
• Food
• Pharmaceutical
• Cosmetic
• Household Care
• Industrial

Plastic Container Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Thailand
  • Indonesia
  • Malaysia
  • Australia
• Latin America
  • Brazil
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE

Key Plastic Container Company Insights

• Alpha Packaging, Inc.
• Amcor plc
• Bemis Manufacturing Company
• CKS Packaging
• Constar Inernational Inc.
• Huhtamaki
• Klöckner Pentaplast
• Sonoco Products Company
• Plastipak Holdings, Inc.

Order a free sample PDF of the Plastic Container Market Intelligence Study, published by Grand View Research.