German research company Ceresana has released a study saying that it expects the global market for plastic containers to rise to 46.2 million metric tons in 2021.
Ceresana says that the market for plastic containers is very complex and is therefore subject to varying influences. The research company offers examples of factors to take into account which include, among others, low per capita consumption on some beverage markets in parts of Asia-Pacific, and the income development in the region, both of which result in a change in consumption.
The company highlights that things like unemployment due to the economic crisis play their part, along with government regulations which may affect the consumption of certain beverages.
Ceresana highlights that some segments within packaging containers report a shift from traditional materials towards plastics. However, plastic containers face increasing competition from flexible packaging solutions.
The company states that the demand for plastic containers differs widely from region to region. One example of this is plastic bottled water: many countries have organizations lobbying for a reduction of bottled water for environmental reasons, while in others consumers are turning to bottled water and other bottled drinks due to unsanitary tap water.
Ceresana's report states that there are also changes that occur within the market of rigid plastic containers. PET containers have been gaining in popularity, the company reports, especially in the business segments of carbonated soft drinks and bottled water. PET containers don't weigh very much, can be recycled, don't break and have good clarity.
Apart from PET, Ceresana also highlights that containers made from PP are on the rise particularly in the food market.