5 Key Future Prospects of Plastic Containers Market for Forecast Period 2017-2026
Published : 09 Feb 2018 Industry: Industrial Goods
Fact.MR, in its recently composed research report, slates that the global plastic containers market will exhibit a modest 4.7% CAGR in the duration between 2017 and 2026. Revenues from sales of plastic containers across the globe are forecast to close in approximately US$ 544,000 Mn by 2026-end.
Plastic containers seek huge application in household chemicals, food, personal care products, beverages, and pharmaceutical products. Adoption of plastic containers for use in meat products is witnessing acceleration, with the introduction of non-deformable and strong plastic containers that come in in a wide range of sizes and shapes. Adoption of plastic containers is increasing, as they facilitate transportation, disposition, and storage of delicate food products including cold cuts, sausages, and meats. Robust growth in the medical and pharmaceutical industries has led towards a considerable surge in demand for plastic containers. High barrier properties coupled with superior aesthetic value delivered by plastic against air and moisture is a primary factor fuelling its adoption in the medical and pharmaceutical sector. Reutilization of plastic containers is becoming one of the most inexpensive and effective methods in reducing environmental impact of plastic. Several manufacturers in the market are concentrating on enhancing durability of plastic containers so that they can be reutilized & refilled numerous times prior to damage caused by prolonged use.
5 Key Projections on Future of Plastic Containers Market for Forecast Period 2017-2026 (In Terms of Volume)
- Number of plastic container sold is expected to remain the largest in North America, accounting for nearly 30% share of the market by 2026-end. Asia-Pacific excluding Japan (APEJ) will also prevail as a profitable region for plastic container sales, accounting for over 25% share of the market by 2026-end. In addition, sales of plastic containers in North America and APEJ are projected to reflect an equal and highest CAGR through 2026.
- Polyethylene terephthalate (PET, PETE, PETG, or polyester) will endure as the more remunerative packaging material in the global plastic containers market, with sales pegged to exceed 50,000 MT by 2026-end. However sales of high density polyethylene (HDPE) will exhibit the fastest expansion in the market through 2026. Number of plastic containers produced by using polyvinyl chloride (PVC) will remain higher than those produced by using HDPE, although reflect a comparatively slower growth in sales through 2026.
- On the basis of packaging type, containers (plastic containers, metal cans) and boxes and cartons will remain sought-after in the market, with sales collectively projected to hold roughly two-third share of the market by 2026-end. However, sales of bags & pouches are poised to exhibit a relatively faster growth in the market through 2026.
- Bottled water will continue to be the dominant application of plastic containers, trailed by alcoholic beverages and carbonated soft drinks. Alcoholic beverages and carbonated soft drinks will account for roughly similar share of the market by 2026-end.
- Based on end-user, sales of plastic containers in food & beverages will remain significantly higher than that in all the other end-users combined. Food & beverages will also prevail as the fast-growing end-user in the global plastic containers market.
The global plastic containers market is diverse and competitive in nature, which can be attributed to the occupancy of numerous international and regional players worldwide. It has been noted that small and local players in the plastic containers market compete against international vendors based on prices, as competing on the basis of product offerings, features and quality is difficult for small-sized players. Active players underpinning growth of the market include Plastipak Holdings Incorporated, Sonoco Products Company, Linpac Group Ltd, Letica Corporation, Huhtamaki Oyj, Constar International LLC, CKS Packaging Incorporated, Bemis Company incorporated, AMCOR Ltd, and Alpha Packaging Holdings Incorporated.