The global Plastic Container Market size is predicted to reach USD 77.45 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period. The growing adoption of plastic containers in the cosmetics industry to have a positive impact on the plastic containers market revenue during the forecast period. Polypropylene is extensively used for the production of bottles, and jars in the packaging and storage of creams, powders, and other cosmetics products. Additionally, the growing inclination of consumers towards skincare products will bolster the healthy growth of the market in the foreseeable future.
According to the published report by Fortune Business Insights, titled “Plastic Container Market Size, Share & Industry Analysis, By Material (PET, PP, HDPE, LDPE, and Others), By Container Type (Bottle & Jars, Pails, Tubs, Cups & Bowls, and Others), By End-Use (Beverages, Food, Pharmaceuticals & Cosmetics, FMCG, and Others), and Regional Forecast, 2019-2026” the global market size stood at USD 51.89 billion in 2018.
Worldwide COVID-19 Impact Analysis:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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From raw materials to downstream buyers of this industry has been analyzed scientifically, the feature of product circulation and sales channel is presented as well. This report is aimed at helping companies, investors, and potential shareholders along with venture capitalists establish a bird’s eye view prospect of industrial development and characteristics of the market. The report also benefits its readers by providing the unrivaled data in a well-organized manner.
The plastic container market report focuses and elaborates on the definition, types, applications, and major players in detail. Deep analysis of plastic container market status, competition pattern, enterprise, advantages and disadvantages of enterprise Products, industry development trends, regional industrial layout characteristics, and macroeconomic policies, industrial policy has also been studied and provided within the synopsis.
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Acquisition of Polybottle by Reid Canada to Spur Business Opportunities
Reid Canada Inc. announced that it has acquired Polybottle Group Limited and Humberline Packaging Inc., a class producer of plastic bottles for the food, beverage, automotive, and industrial and specialty chemical industries from ABC Group, one of the leading component manufacturers. The deal between the companies is likely to boost the plastics containers market trends owing to the future launch of innovative products such as Dura-Lite® with the combination expansion prospects.
Furthermore, President and Chief Executive Officer of CCC, Sean R. Fallmann, said in a statement, “we welcome the employees of Polybottle and Humberline into the CCC family. These companies have great leadership teams and a strong reputation of consistently providing quality products and excellent customer service. This acquisition is another step in CCC’s North American growth strategy, in which we combine strategic asset acquisitions with new innovative products to better meet our customers’ needs.” He also added, “Dura-Lite®is designed to use 10 percent to 25 percent less plastic than comparable traditional designs while meeting or exceeding the key performance attributes of those traditional designs. With the addition of EcoPrime®, a recycled resin safe for food contact, customers will further strengthen their brand’s sustainability story.”
List of the Prominent Companies Profiled in the Plastic Containers Market Research Reprot are;
- Alpha Packaging
- Plastipak Packaging
- Graham Packaging
- Berry Plastics
- Greiner Packaging
- Alpha Packaging
- Polycon Industries
- KW Plastics
- Boxmore Packaging
- Silgan Holdings Incorporated
- CKS Packaging Incorporated
- Altium Packaging
- Airlite Plastics
- Reynolds Consumer Products
- Consolidated Container Company
- Other Key Players
Surge in Beverage Industry to Promote Expansion in Asia Pacific
Asia Pacific generated a revenue of USD 23.61 billion and is likely to remain dominant during the forecast period owing to the rising demand for plastic bottles to preserve water and carbonated drinks. The bottles used for beverages are primarily made up of polyethylene terephthalate material. The growing investment in the beverage industry will augment growth in the region.
Furthermore, the growing consumer spending on carbonated drinks and beverages will propel plastic container market share in Asia Pacific. North America is predicted to witness significant growth owing to the increasing food and pharmaceutical industry in the region. Nonetheless, Europe is predicted to grow steadily in the forthcoming years due to the rising demand for FMCG products such as detergents, cleaner, and other products
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