Plastic Container Market Analysis By Material, By End Use, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global plastic container market size was accounted for USD 85.5 billion, in 2018. The market is projected to foresee considerable growth owing to properties of plastic like lightweight and easy to use along with a wide range of other applications. Several manufacturers such as PepsiCo, L’Oréal, and Unilever are using plastic containers due to less cost and easy handling. Further, innovation in materials like LLDPE along with low cost and lightweight is anticipated to fuel the market growth.  

Packaging plays a vital role in enhancing product value and visual appeal. Growing preference for protective packaging from the pharmaceutical and food sectors to improve the shelf life of the product is projected to fuel the market growth. Manufacturers are inclined towards plastic packaging as it is convenient and gives an enhanced look to the end product. Food preferences and changing lifestyles in developing nations such as India and China are predicted to augment the demand for convenience food, thereby, encouraging the use of plastic packaging.

The increasing use of several innovative technologies such as aseptic and biodegradable packaging is projected to play a crucial role in enhancing the serviceable life of the end product. Consumers generally prefer products with innovative packaging which have a longer shelf-life.

The demand for lightweight and attractive packaging is on the rise. Manufacturers are using plastic packaging to prevent the product from many deteriorating agents such as microorganisms, heat, moisture, oxygen, and others. Plastic contains strong resistive properties and is therefore widely used as a packaging material by various manufacturers. The growing penetration of e-commerce retails fueled by an increasing number of smartphone users is projected to support the growth of the plastic containers market. Further, growing inventory requirement from OPEC countries has resulted in reducing the price of crude oil, which, in turn, is anticipated to increase the accessibility of plastic resin at a low cost for making containers.

Material Insights

The PET segment led the market with a revenue share of 55.5% in 2018. PET is extensively used by manufacturers for packaging juice, bottled water, and carbonated soft drinks. Its properties such as being easily recyclable, strong, non-toxic, and lightweight make it ideal for various applications. Around, 70% of soft drinks, juice, and mineral water bottle packaging use PET containers. Thus, the growing demand for juice and bottled water is projected to promote the use of PET material in the upcoming years.

The HDPE segment is anticipated to grow at a CAGR of 4.2% over the forecast period. HDPE is widely used for packaging detergent, milk, household cleaner, and shampoo. It’s the most preferred material used for packaging in the cosmetics industry which is predicted to grow significantly in the coming years. Further, growing urbanization and rising investment in household cleaners and cosmetics are anticipated to augment the growth of HDPE packaging.

End-Use Insights

The beverage category led the plastic container market with over 50.0% of the revenue share in 2018. Growing consumption of functional drinks, bottled water, and juices is projected to fuel the beverage packaging market in the coming years. Around 600 million households consumed bottled water globally, in 2018. Moreover, the growing demand for soft drinks in countries like Thailand and India is projected to promote the use of plastic containers during forecast years. As per Varun beverages, PepsiCo's Indian partner, per capita consumption of soft beverages is projected to touch 84 bottles by the end of 2021. This is predicted to augment the growth of the market over the forecast period.

The industrial division occupied a substantial share in 2018 and is projected to ascend with a CAGR of 3.3% over the forecast period. The market growth is predicted to be driven by the rising production of various chemicals in nations such as India, Germany, and China. Germany and China are the leading consumers of plastic containers due to the increasing manufacturing of grease, paints, and industrial lubricants.

The plastic container is widely used in the cosmetic industry with China being the biggest consumer of plastic packaging. Additionally, cosmetics products are widely produced in China. Further, several players are setting up their manufacturing plants in China due to the easy accessibility of cheap labor and raw material. This is anticipated to augment the demand for plastic containers in the upcoming years.

The growing concern for a healthy lifestyle along with rising urbanization and the per-capita income of consumers is expected to boost the demand for household cleaners. This has resulted in encouraging the use of plastic packaging in the sanitization industry. According to recent studies, an American family annually spends approx. USD 500—USD 600 on household cleaning. Increasing investment in household cleaning is predicted to bode well for the growth of the product in the sanitization industry from 2019 to 2025.

Regional Insights

In 2018, Asia Pacific led the plastic container market with over 30.0% revenue share 2018. The growth is attributed to the growing demand for juices, bottled water, and soft drink over the forecast duration. Further, the establishment of major cosmetic and pharmaceutical manufacturers in South Korea, China, and India has led to a rise in the demand for plastic containers in the upcoming years. Moreover, growing operations of automotive producers in South Korea, India, and China owing to friendly government policies are projected to supplement the sales of industrial greases and lubricants, resulting in promoting the use of plastic containers during the estimated period.

Europe is projected to register a CAGR of 4.1% in the forecast period. Factors such as increasing demand for packed food, hectic working hours, and changing lifestyle are expected to boost the demand for the product. Also, the growing preference for nutritious brews is further driving the growth of the regional market.

North America occupied a considerable share in the global market in 2018. The growing consciousness for hygiene and health is persuading the customers to increase investment in household cleaners. The U.S. dominated the regional market in North America with a share of more than 75 % in 2018. This major share is the result of the growing demand for functional brews and convenient food items.    

Plastic Container Market Share Insights

The global market is highly fragmented and the top 5 players occupy less than 10% market share in 2018. Leading players in this industry include Airlite Plastics; Berry Global Inc.; Polytainers Inc.; CCC Packaging; Silgan Holdings Inc.; Reynolds; CKS Packaging, Inc.; Amcor Limited; RPC Group Plc.; and Alpha Packaging. Key players are adopting various competitive strategies such as M&A, business expansion, using innovative technologies, and capacity building to acquire a larger market share. 

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Million Insights has segmented the global plastic container market report based on material, end-use, and region:

• Material Outlook (Revenue, USD Million, 2015 - 2025)
    • PET
    • PP
    • HDPE
    • LDPE
    • Others

• End-Use Outlook (Revenue, USD Million, 2015 - 2025)
    • Beverages
    • Food
    • Pharmaceutical
    • Cosmetic
    • Household Care
    • Industrial

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
    • the Asia Pacific
        • China
    • Central & South America
        • Brazil
    • Middle East & Africa
        • UAE