Plastic Containers Market Trends

Growth Drivers

• Faster Plastic Production Rates - Affordable, and non-reactive plastic containers find applications across the spectrum. The versatility of plastic has driven people to produce more plastic containers, which is expected to further drive the growth of the market. According to the latest report by the Organization for Economic Cooperation and Development, global plastic production increased from 2000 to 2019 and exceeded about 460 million tons.
• Increasing Demand for Plastic Products - Many plastic products are used every day such as storage boxes, toothbrushes, lanyards, etc. Some manufacturing organizations even use plastic in the form of bottles and packaging bags to pack their products. Around five trillion plastic bags are used globally each year. 
• Expansion of Packaging Sector –As a result of their adaptability, affordability, and capacity to satisfy a range of packaging demands, plastic containers are in high demand as the packaging industry as a whole expands across several industries.

Challenges

• Adverse Effect of Plastic on Humans and Environment - The increasing use of plastic has proved to be harmful. Many plastic compounds are thought to be extremely hazardous for humans and the environment. The majority of these additives can be emitted into the atmosphere when exposed to diverse atmospheric conditions since they do not bind to the chemical structure of the plastic. These chemicals can be penetrated our bodies through the skin, dissipate into the atmosphere, or be ingested through food or beverages. Hence, this factor is anticipated to dampen the market's growth during the projected time frame.

• Rising Awareness About Plastic Waste
• Stringent Governmental Rules Regarding Environmental Protection