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Plastic Punnets Market, By Capacity, By Material, By Products, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
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REPORT HIGHLIGHT

Plastic Punnets Market size was valued at USD 815.5 Million in 2023, expanding at a CAGR of 4.90% from 2024 to 2032.

Plastic punnets are tiny plastic containers with the capacity to both absorb and exhale ambient moisture. Fruits, vegetables, meat, seafood, and other items are packaged in plastic punnets. Because of the convenience of online shopping, quick delivery, straightforward shipping procedures, and return policies, consumers have shifted from traditional to e-commerce shopping, which has led to an increase in the use of plastic packaging. When a customer buys a product, the packaging serves as the primary means of communicating the brand and message, so it is crucial that the packaging is done correctly. Additionally, the need for plastic punnet packaging has grown as a result of both developed and developing economies' increased need for packaged consumer goods.

Plastic Punnets Market- Market Dynamics

Growth in the Online Food Ordering Trend

The ease of having groceries delivered right to your door is a big reason why people buy groceries online because of their hectic schedules. The need for plastic punnets is increased by the growing desire for online grocery shopping, which calls for strong and secure packing for delivering perishable goods. E-grocery and food ordering were seen to increase in popularity following the COVID-19 pandemic. The ability to compare products and make well-informed purchasing selections is the other primary reason why people shop for groceries and food items online. Customers are drawn to online platforms by the numerous deals and discounts offered by meal delivery applications. The market for plastic punnets is expected to develop during the projected period due to the increased demand for these punnets for food packaging caused by the growing trend of online grocery and meal ordering. For instance, Zepto's market share for 10-minute grocery delivery increased from 15% in March 2022 to almost 29% in March 2024, according to data from the eCommerce Association of India (ECAI). Over $1 billion has been raised by Zepto in 2024, including $665 million in June and $340 million in August.

Plastic Punnets Market- Key Insights

As per the analysis shared by our research analyst, the global Plastic Punnets Market is estimated to grow annually at a CAGR of around 4.90% over the forecast period (2024-2032)

Based on material segmentation, the polystyrene (PS) category was predicted to show maximum market share in the year 2023

Based on products segmentation, the without lid was the leading segment in 2023

On the basis of region, Asia Pacific was the leading revenue generator in 2023

Plastic Punnets Market- Segmentation Analysis:

The Global Plastic Punnets Market is segmented on the basis of Capacity, Material, Products, and Region.

Based on material, the market is segmented into Polypropylene (PP), Polystyrene (PS), Polylactic Acid (PLA), Polyethylene Terephthalate (PET), and Others. The polystyrene (PS) category led the market in 2023. Fruits, vegetables, and other food items are packaged in polystyrene (PS) plastic punnets, which are containers that are usually composed of PS plastic. They are made to protect the contents during display and transit because they are strong and lightweight. Despite growing criticism due to environmental issues, polystyrene is still often used due to its affordability and durability. The monomer styrene is converted into the synthetic polymer polystyrene. Polystyrene is a strong option for preserving food products since it is impervious to moisture and shock.

On the basis of products, the market is divided into With Lid and Without Lid. The market for plastic punnets without lids is expanding significantly, mostly due to its extensive use in the bakery and fresh produce industries. Because of their accessibility, these open-top punnets are ideal for goods like berries, grapes, and other fresh fruits that need to be easily handled and ventilated. Retailers prefer the Without Lid punnets because they are affordable and frequently use less plastic, which satisfies consumer desire for environmentally friendly packaging options.

Plastic Punnets Market- Geographical Insights

Geographically, the Plastic Punnets Market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.

The Asia Pacific region is expected to have the greatest plastic punnet market share during the projected period due to the region's growing population, urbanization, and rising demand for fresh fruits and vegetables. The demand for efficient packing solutions is being driven further by the growth of e-commerce and contemporary retail models in nations like China and India. Additionally, the sustainability and quality of plastic punnets are being improved by developments in packaging technology. The region's focus on food safety and cleanliness also helps explain why plastic punnets are becoming popular in a variety of industries, such as food, cosmetics, and pharmaceuticals.

However, due to the growing demand for simple packaging options and fresh products, the North American area is expected to experience the greatest CAGR during the projection period. The region's thriving agriculture industry and the increase in food shopping done online increase the demand for effective and safe packaging. Plastic punnets are preferred because they are lightweight, strong, and recyclable, which makes them perfect for fruits, vegetables, and prepared foods. In addition, stricter food safety laws and an increased emphasis on sustainability are promoting eco-friendly plastic punnet inventions and establishing North America as a major player in the worldwide industry.

Plastic Punnets Market- Competitive Landscape:

The market for plastic punnets is competitive, with both new and established companies such as Smurfit Kappa Group plc, INFIA Srl, Pactiv Evergreen Inc., Westpak Group Ltd, MARINUCCI, and YV Packaging, among others, concentrating on sustainable materials, creative product options, and effective supply chains. Large companies are making investments in cutting-edge production processes to create robust and lightweight punnets in order to meet the expanding needs of the food and agricultural sectors. Businesses are also focusing on creating environmentally friendly punnets with recyclable and biodegradable plastics in response to growing regulatory demands and environmental concerns. For instance, in November 2023, by agreeing to buy Seisa Medical, TekniPlex Healthcare has increased its capacity to provide medical technology solutions, especially for minimally invasive devices. The goal of this acquisition is to strengthen TekniPlex's product development and materials science capabilities.

Recent Developments:

July 2024: WestRock and Smurfit Kappa successfully merged to establish Smurfit WestRock, a significant force in the global packaging market. This new company offers sustainable packaging solutions and operates in 40 countries.

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

GLOBAL PLASTIC PUNNETS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS

GLOBAL PLASTIC PUNNETS MARKET, BY CAPACITY- MARKET ANALYSIS, 2019 - 2032

GLOBAL PLASTIC PUNNETS MARKET, BY MATERIAL- MARKET ANALYSIS, 2019 - 2032

GLOBAL PLASTIC PUNNETS MARKET, BY PRODUCTS- MARKET ANALYSIS, 2019 - 2032

GLOBAL PLASTIC PUNNETS MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032

Table of Contents

1. Plastic Punnets Market Overview

2. Executive Summary

3. Plastic Punnets Key Market Trends

4. Plastic Punnets Industry Study

5. Plastic Punnets Market: COVID-19 Impact Analysis

6. Plastic Punnets Market Landscape

7. Plastic Punnets Market - By Capacity

8. Plastic Punnets Market - By Material

9. Plastic Punnets Market - By Products

10. Plastic Punnets Market- By Geography

11. Key Vendor Analysis- Plastic Punnets Industry

12. 360 Degree Analyst View

13. Appendix

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