Global Plastic Containers Market Proposals & Trends Leading to 5.40% CAGR Growth during 2017-2026

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.

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1) Key Projections on Plastic Containers Market for Forecast Period 2017-2026 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.

2) 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.

3) 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.

4) 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.

5) 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.

North America to Endure as Fast-Expanding Market for Plastic Containers

In terms of value, North America is expected to endure as the fast-expanding market for plastic containers, trailed by Asia-Pacific excluding Japan (APEJ). Majority of the market growth in North America can be attributed to improving food & beverage industry in the U.S., and rising utility expenditure along with stricter regulations directed toward improvement of packaged material recycling procedures. In APEJ, the food & beverage sector is witnessing robust growth on the back of growing purchasing power of people and rapid urbanization that entails hectic lifestyle and demand for packaged food.

With increasing concerns regarding contaminants in drinking water, consumers in the developed and developing regions are increasingly preferring bottled water. Demand for bottled water has therefore surged exponentially over the past couple of years, which in turn creates significant demand for plastic containers, such as various sizes of plastic bottles. Bottled water is expected to remain the largest application of plastic containers, succeeded by alcoholic beverages, in terms of value.

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Competition Tracking

The global market for plastic containers is diversified and highly competitive in nature, owing to the occupancy of myriad international and regional vendors worldwide. It has been witnessed that small-sized and local vendors of plastic containers compete against international vendors on the basis of prices, as competing in terms of product offerings, quality and features becomes difficult for small enterprises. Key players actively underpinning the market growth include Alpha Packaging Holdings Incorporated, AMCOR Ltd, Bemis Company incorporated, CKS Packaging Incorporated, Constar International LLC, Huhtamaki Oyj, Letica Corporation, Linpac Group Ltd, Sonoco Products Company, and Plastipak Holdings Incorporated.

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This release was published on openPR.