rise in e-commerce and online shopping is driving the Plastic Container Market
Technavio analyzes that the Plastic Container Market is expected to grow at a CAGR of 4.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 70.9 billion.There are various factors that contribute to the growth of the market. The surge in e-commerce and online shopping trends has significantly boosted the demand for plastic containers in various industries. These containers offer numerous advantages such as lightweight, durable, and cost-effective solutions for storing and transporting goods. As more consumers opt for convenient and contactless delivery options, the plastic container market is poised for substantial growth in the coming years.
The rigid plastic container market is poised for significant growth, driven by the surging demand from the food and beverage industry. Enterprises in this sector opt for rigid plastic containers due to their lightweight and cost-effective nature, compatibility with various product requirements, and ability to ensure product preservation for extended periods. Moreover, the increasing production and consumption of food, beverages, and consumer goods, including pharmaceuticals and cosmetics, further fuel the demand for these containers. Additionally, the growing preference for non-toxic and eco-friendly packaging solutions, particularly in the bottled water segment, adds to the market expansion.
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Plastic Container Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The plastic container market encompasses various applications in the food, cosmetics, pharmaceutical, and consumer goods industries. Key plastic resins include Polyethylene Terephthalate (PET), Polypropylene (PP), High-density Polyethylene (HDPE), and Low-density Polyethylene (LDPE). These containers are used for packaged food products, beverages like bottled water, convenience meals, and protective packaging for e-commerce. They are non-toxic, recyclable, and offer convenience. Injection molding technology and robotics/automation streamline production. Sustainable materials, such as biodegradable plastics and thin-walled containers, address regulatory concerns. Applications include on-the-go food, cosmetics, pharmaceuticals, and e-commerce packaging.
In the competitive landscape of the container market, plastic containers hold a significant market share due to their lightweight, durable, and cost-effective nature. The production of plastic containers involves various stages, beginning with the procurement of raw materials such as high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and other plastic resins. Manufacturers engage in the research and development of desired product specifications, followed by large-scale production to meet market demands. Post-production, distribution channels play a crucial role in delivering these containers to end-users, ensuring efficient and timely delivery.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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