Growing Bottled Water Sales Spike Demand for Plastic Containers: Study
Published : 12 Jan 2021 Industry: Industrial Goods
With the growing focus on bio-degradable materials, sustainability has been key to the plastic containers manufactures in the past years. The rise in demand for the cost-effective, single-use plastic packaging from the beverages, food, and cosmetics industry has been fuelling the sales of plastic containers since the past decade. According to Fact.MR, the global plastic containers market is forecast to grow at over 4.5% CAGR through 2030.
In a report published by the Organization for Economic Cooperation and Development (OECD) in 2018, the guidelines to Incentivise Sustainable Plastic Design is elaborated. As per the report, OECD aims for optimizing sustainable packaging solutions from a chemical perspective. While the OECD workshop held on 29th, 30th, and 31st May, 2018 inspired sustainable plastic production, various other initiates have further catered to the growing demand for recyclable plastic packaging solutions.
According to the Associated General Contractors of America (AGC), construction being a major contributor to the United States economy is highly promising in terms of further expansion. As the plastic containers manufactures are fully utilizing the market potential, the tough competition is expected to change the market outlook in the coming years.
The new study by Fact.MR provides a detailed analysis of the market growth, scope, and potential along with the demand-supply trends of plastic containers across the globe.
- Germany remains the largest market for plastic containers across Europe
- Demand in US stagnant, but opportunities in bottled water category key to future outlook
- High demand expected in China, but few opportunities for global players due to domestic competition
- PET plastics are expected to fuel sales of the plastic containers manufacturers due to high demand
- Steadily growing food & beverages industry is anticipated to bolster the growth of plastic containers suppliers
- Various types of containers such as plastic cans, containers, and others are expected to experience high demand in terms of packaging type
- Application of plastic containers in bottled water remains dominant
“Rising demand from food & beverages industry tends to catalyse the plastic containers manufacturers growth, with increasing focus on sustainable plastic solutions expected to provide manufacturers with a competitive edge,” says a Fact.MR analyst.
COVID-19 Impact Analysis
COVID-19 has impacted almost all industries; the plastic containers market hasn’t been an exception. The decline in food & beverages industry is one of the major factors affecting the plastic containers manufacturers. Additionally, the manufacturing units has plunged through significant decline in its production capability owing to the financial crisis, and disruptive logistics sector. The unavailability of enough labours and raw materials has further affected the demand-supply chain of plastic containers.
However, the COVID-19 impact on plastic containers sales tend to diminish steadily as the key end-user industries such as soft drinks, beverages, and others are flourishing on the rise in demand again.
The Fact.MR study says that the plastic containers manufacturers are projected to witness impressive growth in sales through 2030.
Who is Winning?
The key players in the plastic containers market are experiencing cut-throat competition which is getting stricter with the growing potential of the market. The top companies are adopting strategic approaches of launching higher quantity of cost-effective products which target broad end-user industries.
- Bemis Company incorporated launched its new extensive range of PET plastic containers for food, medical, and agribusiness with special focus on sustainability and affordability in 2019. Their products target broad range of end-user industries such as food, cosmetics, pharmaceutical, and others.
- AMCOR Ltd. launched its new range of sustainable PET plastic containers such as 1L Billboard Round, 120ml HDPE Round Wide Mouth Packer, Multilayer PET, and others in the last year
More Valuable Insights on Plastic Containers Market
In the latest report by Fact.MR, we offer an unbiased analysis of the global plastic containers market, providing historical data for the period of 2015-2019 and forecast statistics for the period of 2020-2030. In order to understand the global market potential, its growth and scopes, the market is segmented on the basis of packaging material (High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), other resins, Polyethylene Terephthalate (PET, PETE, PETG, or polyester), Polypropylene (PP), Polystyrene (PS), Polyvinyl Chloride (PVC)), packaging type (bags & pouches, bottles & jars, boxes & cartons, containers (plastic containers, cans ), others (cups, tubs, bowls etc.)), application (alcoholic beverages, bottled water, carbonated soft drinks, energy drink, milk products, ready to drink beverages, tea/coffee), end user (cosmetics & personal care, electronics, food & beverages, pharmaceuticals, printing & stationary, other end users), across six major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, MEA).