NEW YORK, Jan. 28, 2022 /PRNewswire/ -- The Plastic Container market is segmented into two categories based on the type (rigid plastic container and flexible plastic container) and geography (APAC, Europe, North America, MEA, and South America). The market share is expected to increase by USD 76.65 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.95%.
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Parent Market Analysis
Technavio categorizes the global plastic container market as a part of the global metal and glass containers market within the global materials market.
Technavio uses the total revenue generated by manufacturers to estimate the global plastic container market size. External factors influencing the parent market's growth potential in the coming years have been thoroughly investigated in our research analysis, to know more about the levels of growth of the plastic container market throughout the forecast period, Download a free sample.
Plastic Container Market Value Chain Analysis
To maximize profit margins and evaluate business plans, an end-to-end understanding of plastic containers is required. The report will help vendors drive costs and enhance customer services during the forecast period.
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The plastic container market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. To make the best of the opportunity, the market vendors should focus more on the fast-growing segment's growth prospect while maintaining their positions in the slow-growing segments.
We provide a detailed analysis of vendors operating in the plastic container market, including some of the vendors such as Alpha Plastics Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, Altium Packaging LLC, Amcor Plc, Berry Global Inc., CKS Packaging Inc., Graham Packaging Co., Greiner Packaging International GmbH, Plastipak Holdings Inc., Silgan Holdings Inc.
Backed with competitive intelligence and benchmarking, our research reports on the plastic container market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Product Insights and News
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The plastic container market share growth in APAC will be significant during the forecast period. China and India are the key markets for plastic containers in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, MEA, and South America.
APAC accounted for more than 40% share of the global demand for plastic containers in 2021, owing to the strong demand from economies such as China and India, which has been increasing above the world's average. Major APAC countries such as Japan and South Korea have a steady demand for plastic containers. Because of low-cost labor and strong backing from the Chinese government, China has emerged as the world's hub for the manufacture of low-value mass-produced items. China is also a popular location for the production and export of low-grade, low-value plastics. China's growth rate is still higher than the global average, and it will be the main demand generator in APA C.
Moreover, countries like the US, China, Germany, India, and France are the key market for the plastic container market in APAC, owing to the availability of low-cost containers market in this region.
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Key Market Dynamics-
During storage, elements such as severe temperature and moisture contaminate the food and cause it to lose nutrients. Food deterioration at the retail level costs the food business more than USD 14 billion per year. This has prompted several vendors to offer stiff plastic packaging to food and beverage companies. For example, the Sonoco products company provides hinged and lidded containers for food products, such as salad containers, to keep them fresh, natural, and healthy for a long time. Furthermore, these containers include an integrated film lidding option, making it simple for customers to open and reseal them. Such factors will increase the demand for these containers, which will support the growth of the global plastic container market during the forecast period.
Food contamination during storage is a big concern for the food industry because it is a perishable commodity. Temperature and moisture have an impact on the nutrients in food. Food deterioration at the retail level costs the food sector more than $14 billion per year. This can be minimized to some extent by utilizing appropriate packaging materials, which will also increase the product's shelf life. It encourages a variety of vendors to offer rigid plastic packaging to food and beverage companies. These containers include an integrated film lidding option, making it simple for customers to open and reseal them. Additionally, they offer side vents for cooling and moisture management. These factors will aid in the growth of the global plastic container market during the forecast period.
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Plastic Container Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 4.95%
Market growth 2022-2026
$ 76.65 billion
YoY growth (%)
APAC, Europe, North America, MEA, and South America
Performing market contribution
APAC at 49%
Key consumer countries
US, China, Germany, India, and France
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
Alpha Plastics Inc., ALPLA Werke Alwin Lehner GmbH & Co KG, Altium Packaging LLC, Amcor Plc, Berry Global Inc., CKS Packaging Inc., Graham Packaging Co., Greiner Packaging International GmbH, Plastipak Holdings Inc., and Silgan Holdings Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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