Global Plastic Tubs and Lids Market Expected to Grow At a CAGR of 7.2% between 2021-2028
2021 - 2028 Global Plastic Tubs and Lids Market
The Global Plastic Tubs and Lids Market is accounted for $946.90 million in 2021 and is expected to reach $1,540.52 million by 2028 growing at a CAGR of 7.2% during the forecast period. Plastic tubs and lids are seamless for maintaining optimum quality of ready-to-eat products such as ice cream, salsa, yogurt, dip, cheese, etc. Due to easy customization, plastic tubs and lids are available in various shapes and sizes. Unlike cardboard boxes, plastic canisters don't get damaged with water or heat. In addition, plastic canisters are also air tight, so long as the lid is kept closed. The polypropylene (PP) segment is expected to have the highest CAGR during the forecast period, as polypropylene is an ideal food-safe plastic for production processes that require high heat. It can be found in products ranging from prescription bottles to garden tools and automotive products. North America is projected to hold the largest market share owing to consumers shift towards less harmful plastic. Asia Pacific is projected to have the highest CAGR due to the shift in consumer preference for tubs due to cost-saving, value pack, and availability in family pack sizes is leading manufacturers to manufacture plastic tubs in various shapes and sizes.
Some of the key players profiled in the Plastic Tubs and Lids Market include Sonoco Products Company, Huhtamäki Oyj, Greiner Packaging, Berry Global Company, Pact Group Holdings Ltd., Amcor plc., StanPac Inc., Parkers Packaging, Shalam packaging, and InterPak Ltd.
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