Plastic Tubs and Lids Market to Expand at CAGR of 5.2% during Forecast Period, Finds TMR Study

ALBANY, N.Y., Jan. 7, 2022 /PRNewswire/ -- Analysts at TMR estimate the plastic tubs and lids market to exceed the valuation of US$ 1.5 Bn by 2031. The food & beverages sector displays leading demand for plastic tubs and lids with their adoption expanding in various other end-use industries as well.

The easy customization of plastic tubs and lids that enables them to be manufactured in various shapes and sizes allows businesses to order customized products and create a brand. This is expanding the use of plastic tubs and lids in home and hygiene product segments.

Savvy manufacturers in the plastic tubs and lids market are engaging in new manufacturing and packaging technologies. For instance, a new multi-layer packaging technology developed by Milacron provides high barrier properties with the same production cycle time and high volume production efficiency as that of single layer containers without barrier properties.

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Plastic Tubs and Lids Market – Key Findings of Report

• Companies are engaging in R&D for improved plastics to address the growing concerns related to the use of thermoplastics in the manufacture of plastic containers and lids that deform when used in microwave ovens for heating or when food is stored in them. Moreover, bisphenol A used in the manufacture of plastic tubs and lids can be potentially harmful for human health.
• Increasing awareness among consumers about safe food containers is leading manufacturers to use some identification to serve the purpose. Manufacturers of plastic disposables include a small triangle with a number that ranges from 1 to 7, which is called a resin identification code and is a hallmark of safe plastic food storage containers.
• Shift in consumer preference for recycled plastic ice cream tubs is creating new sales opportunities in the plastic tubs and lids market. Product manufacturers are collaborating for the manufacture of recycled plastic tubs that are suitable for food and can stand freezing temperatures.
• Advent of hybrid products such as cardboard-plastic tubs is likely to stir growth of the plastic tubs and lids market. Cardboard-plastic tubs and lids are manufactured using 50% post-consumer recycled polypropylene for the exterior layer obtained from end-use consumer households. The interior of the tubs is composed of white virgin material.
• High volume consumption of ice cream in the U.S. with statistics of an average American consuming almost 10.43 kg of frozen desserts and ice cream each year fuels the demand for plastic tubs in North America
• 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. In addition, plastic tubs for ice creams, frozen food, and ready-to-eat foods are stable, reusable, and are manufactured using safe raw material.

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Plastic Tubs and Lids Market – Growth Drivers

• Advantages of hygiene, lightweight, and ease-of-use, along with features such as printable surface for branding and leak resistance snap-fit applications fuel the growth of plastic tubs and lids market
• Introduction of novel techniques such as co-extrusion that are now part of mainstream manufacturing assembly of plastic tubs and lids addresses concerns of increasing raw material prices and energy costs. The use of these novel techniques offers increased heat handling, improved leak proof properties, and other performance improvements in plastic tubs and lids.

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Plastic Tubs and Lids Market – Key Players

Some of the key players having presence in the plastic tubs and lids market are;

• Sonoco Products Company
• Greiner Packaging
• Pact Group Holdings Ltd.
• StanPac Inc.
• Shalam Packaging
• Double H Manufacturing
• The Container Company
• Huhtamaki Oyj
• Berry Global Company
• Amcor plc
• Parkers Packaging
• InterPak Ltd.
• Zheijiang Weishida Printing Co. Ltd
• Lykapack

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The plastic tubs and lids market is segmented as follows;

Plastic Tubs and Lids Market by Capacity

• 500 ml
• 1 L
• Other Capacities

Plastic Tubs and Lids Market by Material

• Polyethylene (PE)
• HDPE
• LDPE
• Polypropylene (PP)
• Others

Plastic Tubs and Lids Market by Application

• Food
• Ice Cream
• Ready to Eat (RTE) Product
• Frozen Food
• Home and Hygiene
• Detergent Pods
• Other Hygiene Products
• Others

Plastic Tubs and Lids Market by Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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