Dive Summary:
- In a new report by The Freedonia Group, Inc., U.S. demand for plastic packaging is expected to grow 4.9% annually to $32.4 billion in 2016.
- This strong growth will be propelled by the performance advantages that plastic packages offer, as well as the predicted economic resurgence after the recession.
- Volume, however, continues to fall, as consumers are more drawn to smaller, single-serve packages and the sustainability of increasingly thinner and lighter plastics.
From the article:
Bottles and jars, which represented 77% of plastic container poundage in 2011, are by far the leading plastic container type. Through 2016, plastic bottle and jar demand is expected to rise 2.8% per year to 165 billion units, moderated by the already-dominant position of plastic in many applications, with few new areas existing for large-scale conversions. Additionally, bottle unit growth in the 2001-2006 period benefited significantly from skyrocketing sales of bottled water. Going forward, a substantial deceleration in bottled water growth is expected based on environmental considerations. Still, advances will be aided by healthy prospects for smaller single-serving beverage bottles. Among major bottle and jar markets, the fastest gains are anticipated for pharmaceutical and food applications.