According to a new report, published by KBV research, 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).
The Bottles & Jars segment is experiencing a CAGR of 5% during the forecast period. This dominance underscores the widespread use and preference for bottles and jars across various industries, such as beverages, food, personal care, and pharmaceuticals. Their versatility, ease of handling, and convenience in packaging liquids and other products contribute significantly to their leading position in the market. The wide adoption of bottles and jars reflects their essential role in consumer and industrial applications, driving their high revenue share in the plastic container market.
The Beverages segment is leading the Global Plastic Container Market by End-use in 2023; thereby, achieving a market value of $49.04 billion by 2031. This significant share underscores the extensive use of plastic containers, particularly bottles and jars, in the beverage industry. Plastic containers are highly favored for packaging water, soft drinks, juices, and other beverages due to their lightweight, durability, and cost-effectiveness. Their ability to preserve the freshness and quality of beverages while being convenient for transportation and storage makes them indispensable in this sector.
The Polypropylene (PP) segment registers a CAGR of 6.8% during (2024 - 2031). PP is valued for its excellent chemical resistance, low cost, and flexibility, which make it suitable for packaging food products, consumer goods, and medical supplies. Due to its specific applications and benefits, PP remains vital in the plastic container industry. The steady demand for PP containers signifies its ongoing relevance and contribution to the market.
Full Report: https://www.kbvresearch.com/plastic-container-market/
The Asia Pacific region dominated the Global Plastic Container Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $12.4 billion by 2031. The Europe region is experiencing a CAGR of 7.7% during (2024 - 2031). Additionally, The North America region is expected to witness a CAGR of 7.9% during (2024 - 2031).
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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