The global market revenue for plastic container packaging is projected to exceed US$26.14 billion by the end of 2031, witnessing a passive expansion at a CAGR of 2.9%.
Future Market Insights (FMI) provides important insights on the Plastic Jar Packaging Market in its published report titled “Plastic Jar Packaging Market: Global Industry Analysis 2019-2029 and Opportunity Assessment 2021-2031” .
Less than 10 ounces among a wide range of market segments based on the capacity of plastic containers. According to the report, it will remain dominant in terms of market share.
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As the report concludes, the growing consumer propensity for controlled portion consumption will explain the continued popularity of smaller sized plastic bottles with capacities less than 10 ounces. for the next few years.
End-use manufacturers still prefer plastic container packaging solutions.
In this report, FMI proposes that plastic container packaging will create significant demand in various end-use industries over the forecast period as plastic container packaging emerges as a lightweight, safe, impact-resistant, durable and cost-effective solution.
In addition, the food and beverage industry is currently the most profitable end user and is registering the highest consumption of plastic containers for packaging.
Plastic bottles are easy to stack during transportation and their light weight allows manufacturers to reduce shipping and shipping costs.
Additionally, the remarkably high resistance offered by plastics to chemical solvents and other contaminants continues to drive demand for plastic containers as the preferred solution for the safe and hygienic packaging of products.
Polyethylene terephthalate (PET), which is particularly favored by the F&B industry, will continue to have a prominent share of revenues in the coming years, as indicated by FMI’s analysis of the plastic container packaging industry based on the type of material used to manufacture the plastic container . no see.
Food manufacturers usually choose PET bottles . PET bottles have been a popular option for their excellent vapor barrier properties.
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Developed countries lead the global market and high consumption of processed foods driving emerging markets
While North America currently accounts for just under a quarter of the global market value, growing demand for effective and efficient packaging formats will drive innovation in the plastic container packaging industry in the region.
However, the European market for plastic container packaging will receive strong support from thriving end-use industries, particularly F&B, pharmaceuticals, cosmetics and personal care. An effective regulatory framework from European authorities will remain an important factor shaping the plastic container packaging market across Europe, as suggested in the report.
The plastic container packaging market in South Asia holds a significant revenue share in the global market and is expected to surpass other regions in terms of growth rate in the coming years.
FMI’s research shows that the strong presence of F&B industry operators will keep the demand for plastic container packaging solutions prominent. On the other hand, the growing consumption of processed and packaged food and beverages is pushing the prospects of plastic container packaging technology within the South Asian market.
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The FMI study was conducted by Alpha Packaging Inc. , Ontario Plastic Container producers Ltd., Cospak Pty Ltd. , Gepack Srl, Amcor Limited, Berry Global Inc., Gerresheimer AG, Olcott Plastics, Inc., RPC M&H Plastics Ltd., All American Containers, Inc., Tim Plastics, Inc., Pretium Packaging, LLC, Integrity Cosmetic Container Industrial Co. ., Ltd., Silgan Holdings Inc., Taral Plastics , Inc., SKS Bottle & Packaging, Inc., Neville and More Ltd., Ltd. Plasmo Pty Ltd, Zenith Global Ltd, Thornton Plastics Co., Ltd. and Rayuen Packaging Co., Limited.
About Future Market Insights Packaging
FMI’s Packaging Division provides in-depth historical analysis and detailed forecasts of the global packaging market. From packaging materials to designs and formats, FMI has an exhaustive market research database, providing unique offers and strategic recommendations to its clients. With a repository of more than 750 reports, the team comprehensively analyzed the packaging industry in more than 70 countries. The team evaluates every node in the value chain and provides end-to-end research and consulting services. Contact us to find out how we can help