DUBLIN--(BUSINESS WIRE)--The "Plastic Bottles and Containers Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The plastic bottles and containers market was estimated at USD 39.03 billion in 2019, and it is expected to reach a value of USD 50.19 billion by 2025 while registering a CAGR of 4.2% during the forecast period of 2020 to 2025. Plastic packaging is becoming popular among consumers, and the market has been seeing trends toward developing and utilizing plastic that can be recycled and reuse to manufacture of packaging products. For instance, in October 2019, Procter & Gamble Company (P&G) announced that its cleaning brands Fairy, Flash, and Viakal might replace virgin plastic in the supply chain by increasing the use of recycled plastic to 9,000t of post-consumer and post-industrial resin. This equates to the amount of waste produced by 6.5 million people in Europe every day. The company's plan is expected to result in a total of 300 million bottles to be converted to either 100% recycled or partially recycled plastic across the European household cleaning brands annually.
Increasing the adoption of lightweight packaging methods is driving the market. Plastics are prized for being lightweight. According to Custom-Pak, though over 50% of all European goods are packaged in plastics, these plastics only account for 17% of all packaging weight. Further, a plastic two fl. oz bottle weighs only 0.023 lbs, while its glass counterpart weighs 0.177 lbs. Though this is a small difference when analyzing a single bottle, when ordering pallets in bulk, it can add up to significant figures that impact a company's profit margin.
With the COVID-19 outbreak affecting the market, countries, globally, seem to be shifting toward single-use plastics. Supply chains, additionally, are being strained to meet a surge in demand for single-use plastic packaging and medical supplies. Multiple governments, such as in India, the Tamil Nadu government suspended the ban on single-use plastic bottles and bags in retail trade in the wake of the COVID-19 disruption.
Some fast food and retail chains, such as Starbucks, banned the use of reusable cups and food containers to curb the spread of the virus. Whereas, in the United States, Maine postponed a plastic bag ban, while New Hampshire and the city of Cambridge, Massachusetts, banned reusable bags during the outbreak while ordering the retail stores to use single-use paper or plastic bags. New York State's ban on single-use plastic bags, which went into effect on March 1, 2020, the enforcement was postponed to May 15, 2020. Such a spike in plastic demand would likely lead to a temporary change in the short-term initiatives and goals of transitioning to a circular economy. Apart from this, it is likely to put pressure on the plastic manufacturing chain.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.4 Market Drivers
4.4.1 Increasing Adoption of Lightweight Packaging Methods
4.5 Market Restraints
4.5.1 Environmental Concerns Regarding Use of Plastics
4.6 Assessment of Impact of Covid-19 on the Industry
5 MARKET SEGMENTATION
5.1 Raw Material
5.1.5 Other Raw Materials
5.2 End-user Vertical
5.2.5 Household Care
5.2.6 Other End-user Verticals
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ALPLA Group
6.1.2 Amcor PLC
6.1.3 Gerresheimer AG
6.1.4 Graham Packaging Company
6.1.5 Container Corporation of Canada Ltd
6.1.6 Altium Packaging LLC
6.1.7 Alpha Packaging
6.1.8 Plastipak Holdings Inc.
6.1.9 RESILUX NV
6.1.10 Greiner Packaging GmbH
6.1.11 Comar LLC
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/w8dgkt
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