Plastic Punnets Market Size by Capacity, Material, End Use, Region, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2030
Overview
Plastic Punnets Market is expected to reach USD 23.43 Bn by 2030 from USD 16.65 Bn in 2023 at a CAGR of 5% during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
Plastic Punnets Market Definition:
Plastic Punnets are plastic containers small in size having the capability to absorb and breathe natural moisture. Plastic punnets are used for the packaging of fruits, vegetables, meat, seafood, etc.
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Plastic Punnets Market Dynamics:
Customers have changed their preference from conventional shopping to e-commerce shopping because of the ease of online shopping, fast delivery, simple shipping process, and returnable policies, which have contributed to the growth of the usage of plastic punnets, and whenever the user purchases any product, the packaging is the main attraction to convey the brand and message for, which proper packaging is very important.
Increasing demand for packaged consumer goods from developed and developing economies has increased the need for Plastic Punnet Packaging. Food and beverages and packaged food also have a huge demand as they are the necessary products, which are being ordered frequently by the consumers. Packaging plays an important role in the proper delivery of the product in good condition till it reaches the end-user.
The increasing demand by consumers for meat and meat products perceived as nutritious, healthy, and safe food has also driven the growth of the Global Plastic Punnets Market. Meat quality and safety properties are dependent on the used packaging materials. The main reason for packaging fresh and processed meat products is to prevent contamination, slow the process of spoilage, permit some enzymatic activity to improve tenderness, reduce weight loss, and retain colour and aroma.
Food processors are challenged with the growing need to reduce plastic and produce packs that are strong enough to protect food in various food channels and long distribution chains. Also, a rise in the prices of meat products can reduce the consumption of meat by people, which acts as a challenge to the Global Chub Packaging Market.
Plastic Punnets Market Segment Analysis:
Based on material type, the Global Plastic Punnets Market is segmented into Polypropylene, Polyethylene (PE), Multilayer nylon, Polyvinylidene chloride, Polyethylene terephthalate (PET) and Other. The Polypropylene segment was dominant in 2019 and is expected to command a market share of xx% by 2030. The major raw materials used in the manufacturing of plastic punnets are HDPE or PP granules.
All polythene material punnets are fully recyclable and of food-grade quality, which means they are completely safe to use with consumable products. Polythene packing solutions offer a comprehensive choice of punnets designed for light, medium, and heavy-duty use, in a wide variety of sizes.
Based on end use, the Global Plastic Punnets Market is segmented into Fresh Meat, Fish and Sea Food, Non-gassing Cheese, Non-ripening cheese, Packaged food and Others. The Fresh Meat segment was dominant in 2023 and is expected to command a market share of xx% by 2030. The packaged food segment is also expected to drive the growth of the Global Plastic Punnets Market because of the high consumer preference turning towards the packaged food, which can be used anytime and anywhere giving usage flexibility to the consumer.
Plastic Punnets Market Regional Insights:
The Asia Pacific is expected to command the largest market share of xx% by 2030
With the growth of the need for consumer goods, the e-commerce industry, and industrialization, the demand for Plastic Punnets has increased in the region. A huge consumer base in developing economies of APAC, like India and China is expected to boost the growth of the Global Plastic Punnets Market. Australia's red meat industry is considered the world’s largest meat exporter with beef 20% of export and 35% of sheep meat. The packaging of meat has increased the demand for plastic punnets in the region.
In North America, US e-commerce damage is expected to be 5.5 billion per year, which is a very big amount requiring a proper solution. Proper packaging is required to ensure sufficient protection to the product delivered. The Association for Packaging and Processing Technologies (PMMI) have stated that the amount cost to a vendor for the damaged product is seventeen times more than the original cost calculated, which have thereby contributed to high demand for proper packaging need.
The objective of the report is to present a comprehensive analysis of the Global Plastic Punnets Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Plastic Punnets Market dynamics, structure by analyzing the market segments and projects the Global Plastic Punnets Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Plastic Punnets Market make the report investor’s guide.
Plastic Punnets Market Scope : Inquire before buying
| Plastic Punnets Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 16.65 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 5% | Market Size in 2030: | USD 23.43 Bn. |
| Segments Covered: | by Capacity | Less than 250 grams 250 – 500 grams 500 – 1000 grams More than 1000 grams |
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| by Material | Polypropylene PET Polystyrene Polyethylene PLA PVC Others |
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| by End Use | Packaged Food Vegetables Seafood Fruits Others |
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Plastic Punnets Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Plastic Punnets Market, Key Players are:
1. LC Packaging International B.V.
2. Carters Packaging Limited
3. T&B Containers Limited
4. Nicholas Packaging
5. YV Packaging, Sullivan Packaging
6. Velkan Engineering Pvt, Ltd.
7. Raptis Pax Pty Ltd
8. Evesham Specialist Packaging Ltd.
9. Holfeld Plastics Ltd.
10.Tacca Industries
11.INFIA Srl
12.Peter Grice Packaging Ltd
13.Marinucci Australia Pty Ltd.
14.Ampulla Ltd.
15.GROUPE GUILLIN
16.NGP Plastic SA
17.Pactiv LLC
18.Element Pack Pty Ltd.
Frequently Asked questions
1. What is the market size of the Global Plastic Punnets Market in 2023?
Ans. The market size Global Plastic Punnets Market in 2023 was USD 16.65 Billion.
2. What are the different segments of the Global Plastic Punnets Market ?
Ans. The Global Plastic Punnets Market is divided into Capacity, Material and End-use.
3. What is the study period of this market?
Ans. The Global Plastic Punnets Market will be studied from 2023 to 2030.
4. Which region is expected to hold the highest Global Plastic Punnets Market share?
Ans. The Asia Pacific dominates the market share in the market.
5. What is the Forecast Period of Global Plastic Punnets Market ?
Ans. The Forecast Period of the market is 2024-2030 in the market.