“Global Plastic Container Market to reach a market value of USD 105 Billion by 2031 growing at a CAGR of 5.4%”
The Global Plastic Container Market size is expected to reach $105 billion by 2031, rising at a market growth of 5.4% CAGR during the forecast period. In the year 2023, the market attained a volume of 53,030.5 kilo tonnes, experiencing a growth of 22.7% (2020-2023).
PET is widely favored due to its strength, lightweight nature, and clarity, which makes it ideal for packaging beverages, food products, and personal care items. Its recyclability and cost-effectiveness further enhance its appeal, driving its substantial market share. Consequently, the polyethylene terephthalate (PET) segment recorded 62% revenue share in the market in 2023. In terms of volume, 47,135.5 kilo tonnes of Plastic Container made of polyethylene terephthalate (PET) is expected to be utilized by the year 2031. The extensive use of PET in various industries underscores its critical role in the plastic container market, reflecting its significant contribution to the sector’s overall revenue.
Innovations in plastic container designs also contribute to their popularity. Features like ergonomic shapes, easy-grip surfaces, and user-friendly closures enhance the convenience and portability of plastic containers. As manufacturers continue to develop packaging solutions that align with consumer preferences, the demand for plastic containers is set to rise, driven by the intrinsic need for convenience in everyday life. Additionally, the trend toward sustainable packaging solutions within the food and beverage sector aligns well with innovations in plastic container manufacturing. Developing biodegradable and recyclable plastic materials addresses environmental concerns while maintaining the functionality and appeal of traditional plastic packaging. This convergence of industry growth and sustainable practices propels the demand for plastic containers, reinforcing their market dominance. Hence, the increased consumer preference for convenience and portability and expansion of the food and beverage industry worldwide is propelling the market's growth.
However, the industry’s reliance on petrochemical-based raw materials also raises sustainability concerns. As environmental awareness grows, there is increasing scrutiny of the ecological impact of plastic production and disposal. This pressure to adopt more sustainable practices can lead to additional costs related to the research and development of alternative materials or the implementation of recycling programs, adding to the financial challenges manufacturers face. Therefore, rising raw material costs impacting profit margins impede the market's growth.
Based on container type, the market is divided into bottles & jars, pails, tubs, cups & bowls, and others. The tubs, cups & bowls segment attained 22% revenue share in the market in 2023. In terms of volume, 18,150.5 kilo tonnes of plastic containers are expected to be utilized in pharmaceuticals & cosmetics by the year 2031. This segment’s notable share highlights its importance, especially in the food and beverage industry, where such containers are commonly used for packaging dairy products, ready-to-eat meals, and snacks. The convenience, portability, and single-serving options offered by tubs, cups, and bowls make them popular among consumers.
On the basis of material, the market is segmented into polyethylene terephthalate (PET), polypropylene (PP), high-density polyethylene (HDPE), low-density polyethylene (LDPE), and others. In 2023, the high-density polyethylene (HDPE) segment attained 21% revenue share in the market. In terms of volume, 18,455.4 kilo tonnes of plastic containers made of high-density polyethylene are expected to be utilized by the year 2031. HDPE is known for its robustness and resistance to impact, making it a preferred choice for packaging a wide range of products, including household chemicals, detergents, and pharmaceuticals. Its versatility and durability ensure that HDPE containers are widely adopted across different industries.
By end-use, the market is divided into beverages, food, pharmaceuticals & cosmetics, and others. The pharmaceuticals & cosmetics segment procured 14% revenue share in the market in 2023. In terms of volume, 12,103.3 kilo tonnes of plastic containers are expected to be utilized in pharmaceuticals & cosmetics by the year 2031. This segment’s notable share reflects the importance of plastic containers in packaging a wide range of pharmaceutical products and cosmetic items. Plastic containers offer excellent protection, hygiene, and convenience, making them ideal for storing medications, supplements, creams, lotions, and other personal care products.
Free Valuable Insights: Global Plastic Container Market size to reach USD 105 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 42% revenue share in the market. In terms of volume, 36,703.6 kilo tonnes of plastic container is expected to be utilized by this region by the year 2031. This dominant share is driven by the region’s rapid industrialization, urbanization, and increasing consumer demand for packaged goods. Countries such as China, India, and Japan contribute significantly to this market with their booming food and beverage, pharmaceuticals, and cosmetics industries. The growing population, rising disposable incomes, and expanding retail sector further boost the demand for plastic containers.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 69.7 Billion |
| Market size forecast in 2031 | USD 105 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.4% from 2024 to 2031 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 390 |
| Number of Tables | 770 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Material, Container Type, End-use, Region |
| Country scope |
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| Companies Included | Placon Corporation, Tekni-Plex Inc., Berry Global Group, Sonoco Products Company, Amcor Plc, DS Smith Plc, Genpak, LLC (Great Pacific Enterprises, Inc.), Dart Container Corporation, Anchor Packaging LLC, Winpak Ltd. (Wihuri International Oy) |
By Container Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By End-use (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Material (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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