The North America plastic bottles and containers market size is expected to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to rising stringent regulations against plastic recyclability, increasing number of container & plastic bottle manufactures, and rising demand for convenient packaging solutions.
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Plastic bottles and containers are having continued reuse capabilities. Plastic containers and bottles are used for package the food, medicines, and others. For the storage of liquids, packaging system is used majorly. It is also used for beverages. According to the need and demand the plastic containers and bottles vary in lucidity and size.
The Covid-19 pandemic affected the demand and supply of North America plastic bottles and containers market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for plastic bottles from packaging industry is projected to boost the market during the forecast period.
- Increasing consumption of pain relivers is major factor fueling the market.
- High cost of plastic bottles and containers is anticipated to hamper market growth.
- Lack of awareness about plastic bottles and containers is projected to hamper the market growth in the coming years.
- R&D investment and technological advancement in plastic bottles and containers is projected to create lucrative opportunities for the market players.
Market Segment Insights
The polyethylene terephthalate segment accounts for key share of the market
Based on material types, the North America plastic bottles and containers market is divided into high-density polyethylene (HDPE), polypropylene (PP), polyethylene terephthalate (PET), low-density polyethylene (LDPE), and others. The polyethylene terephthalate segment accounts for a key share of the market. Growth of the market is attributed to rising usages of sustainable packaging solutions and reduced manufacturing cost.
The cosmetics segment is anticipated to hold major market share during the forecast period
Based on end-users, the North America plastic bottles and containers market is fragmented into pharmaceuticals, food, cosmetics, household care, industrial, beverages, and others. the pharmaceuticals segment is sub-segmented into oral care, nasal spray, dropper bottles, liquid bottles, and others. The cosmetics segment is anticipated to hold a major market share during the forecast period. Growth of the market is attributed to easy molding of plastic bottles and presence of major players in the region.
The United States is estimated to hold major market share
On the basis of region, the North America plastic bottles and containers market is categorized as The United States, Canada, Mexico, and Rest of North America. The market of Canada is anticipated to expand at a high CAGR during the forecast period due to rapid growth in cosmetic sector and increasing population. The market of United States is expected to hold a major market share due to increasing purchasing power of individuals and rapidly growing economy.
Competitive Landscape
Key players competing in the North America plastic bottles and containers market include Comar LLC; Plastipak Holdings Inc.; Graham Packaging Company LP; Altium Packaging (Loews Corp.); Gerresheimer AS; Alpha Packaging Inc.; Berry Global Group Inc.; Amcor Ltd.; Cospack America Corp.; Sonoco Products Company; Sealed Air; Container Corp. Of Canada; and Indorma Ventures Public Company Ltd.
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The major players in the plastic medicine bottles market include RAEPAK™ Ltd, Gerresheimer AG, RAEP Röchling SE & Co. KG, Drug Plastics Group, Drug Plastics Group, Berry Global Inc. C.L.
Smith, O.BERK®, Alpack, Inc., ALPHA PACKAGING Pro-Pac Packaging Limited, Drug Plastics Group, Weener Plastics Group BV and other..
The Increasing growth of retail products and their penetration leads to high market demand in recent years.
The growth in the number of product launches in the fashion and cosmetic sector is positively impacting the Plastic medicine bottles market's growth.
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