Witnessing passive expansion at an average 3% yearly rate, the global market revenues for plastic jar packaging are projected to surpass the US$ 25 billion mark by 2020 end. Future Market Insights (FMI) delivers vital insights on the plastic jar packaging market in its published report, titled “Plastic Jar Packaging Market: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2029.”
Among a wide range of market segments based on the capacity of plastic jars, those with less than 10 oz. will remain dominant in terms of market share, according to the report. Increasing consumer inclination toward controlled portion intake, as concluded in the report, will account for sustained popularity of smaller sized plastic jars, i.e. of capacity – less than 10 oz. in the forthcoming years.
End-use Manufacturers Still Prefer Plastic Jar Packaging Solutions
In the report, FMI suggests that the emergence of plastic jar packaging as lightweight, secure, impact-resistant, durable, and cost-effective solution will create significant demand from various end-use industries during the forecast period. Moreover, food and beverages industry currently is the most lucrative end user, registering maximum consumption of plastic jars for packaging.
Plastic jars are simple to stack during transportation and their light weight helps manufacturers slash down the transportation and shipping costs. In addition, notably high resistance provided by plastics, against chemical solvents and other contaminants, continues to sustain demand for plastic jars as a preferred solution for safe and hygienic packaging of products.
As indicated by FMI’s analysis of the plastic jar packaging industry on the basis of material types used in manufacturing of plastic jars, polyethylene terephthalate (PET), particularly more preferred in the F&B industry, will continue to represent the prominent revenue share over coming years. Manufacturers of food products generally opt for PET jars, as they have been a popular option when it comes to superior water vapour barrier properties.
Developed Regions Spearhead Global Market, High Processed Food Consumption to Drive Emerging Markets
While North America represents just-under 1/4th of the global market value at present, the ever-growing demand for effective and efficient packaging formats is likely to drive innovation in the plastic jar packaging industry in the region. Europe’s market for plastic jar packaging will however receive strong support from the thriving end-use industries, particularly F&B, pharmaceuticals, and cosmetics & personal care. Effective regulatory framework of European authorities will also remain an important factor shaping the plastic jar packaging market across Europe, as suggested by the report.
South Asia’s market for plastic jar packaging holds a substantial revenue share in the global market, and is projected to outpace other regions in terms of growth rate, in years to come. Strong presence of F&B industry operators will prominently sustain the demand for plastic jar packaging solutions, according to FMI’s study. On the other side, mounting consumption of processed and packaged foods and beverages has been pushing the prospects of plastic jar packaging technologies within the South Asian market.
The FMI study has profiled some of the most prominent, active competitors in the global plastic jar packaging landscape, including 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., and Rayuen Packaging Co., Limited among others.
Press-release Source : https://www.globenewswire.com/news-release/2019/04/25/1809772/0/en/Plastic-Jar-Packaging-Market-to-Surge-at-a-Robust-Pace-in-Terms-of-Revenue-at-2-7-CAGR-Over-2029-Future-Market-Insights.html
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