Plastic Box Market

The global plastic box market is projected to see growth in both volume and value terms from 2022 to 2030, with consumption expected to reach 25M tons and market value to hit $114.5B by the end of 2030. China leads in both production and imports, while Mexico is a major player in exports. Overall, the market is expected to maintain an upward trend over the next eight years, driven by increasing demand for plastic boxes, cases, crates, and similar packing articles worldwide.

Market Forecast

Driven by increasing demand for plastic boxes, cases, crates and similar packing articles worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.7% for the period from 2022 to 2030, which is projected to bring the market volume to 25M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.1% for the period from 2022 to 2030, which is projected to bring the market value to $114.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Plastic Boxes, Cases, Crates And Similar Packing Articles

Global plastic box consumption reached 20M tons in 2022, flattening at 2021 figures. The total consumption volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 8.1% against the previous year. Over the period under review, global consumption hit record highs in 2022 and is expected to retain growth in the immediate term.

The global plastic box market size declined to $76.7B in 2022, dropping by -7.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked at $84B in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (3.5M tons), the United States (1.8M tons) and Pakistan (967K tons), together accounting for 31% of global consumption. Nigeria, Spain, Bangladesh, Japan, Germany, Mexico, Indonesia, India, Turkey and Ireland lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Ireland (with a CAGR of +24.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($15.4B) led the market, alone. The second position in the ranking was taken by Japan ($7.5B). It was followed by the United States.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +2.1%. In the other countries, the average annual rates were as follows: Japan (-1.2% per year) and the United States (+0.5% per year).

In 2022, the highest levels of plastic box per capita consumption was registered in Ireland (78 kg per person), followed by Spain (17 kg per person), Germany (7.9 kg per person) and Japan (5.4 kg per person), while the world average per capita consumption of plastic box was estimated at less than 0.1 kg per person.

In Ireland, plastic box per capita consumption increased at an average annual rate of +23.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Spain (+11.7% per year) and Germany (+3.4% per year).

Production

World Production of Plastic Boxes, Cases, Crates And Similar Packing Articles

In 2022, global production of plastic boxes, cases, crates and similar packing articles contracted modestly to 20M tons, falling by -3.1% on 2021 figures. The total output volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 7.9% against the previous year. Over the period under review, global production hit record highs at 20M tons in 2021, and then fell in the following year.

In value terms, plastic box production amounted to $87.7B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 20%. As a result, production reached the peak level of $96.2B. From 2020 to 2022, global production growth failed to regain momentum.

Production By Country

China (3.8M tons) constituted the country with the largest volume of plastic box production, comprising approx. 19% of total volume. Moreover, plastic box production in China exceeded the figures recorded by the second-largest producer, the United States (1.8M tons), twofold. The third position in this ranking was held by Pakistan (968K tons), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: the United States (+0.7% per year) and Pakistan (+4.3% per year).

Imports

World Imports of Plastic Boxes, Cases, Crates And Similar Packing Articles

Global plastic box imports soared to 5M tons in 2022, surging by 28% against the previous year's figure. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.7% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic box imports expanded sharply to $14.2B in 2022. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 22%. Global imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports By Country

Mexico was the major importer of plastic boxes, cases, crates and similar packing articles in the world, with the volume of imports amounting to 1.4M tons, which was near 28% of total imports in 2022. The United States (354K tons) took a 7% share (based on physical terms) of total imports, which put it in second place, followed by Spain (6.6%) and Germany (5%). France (216K tons), the Netherlands (190K tons), South Korea (139K tons), Canada (135K tons), Italy (134K tons), Belgium (132K tons), the UK (113K tons), Poland (113K tons) and China (81K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic box imports into Mexico stood at +3.8%. At the same time, Italy (+15.6%), Spain (+15.1%), Poland (+6.0%), Canada (+5.8%), the United States (+4.7%), South Korea (+4.3%), France (+4.2%), Belgium (+3.4%), the Netherlands (+3.0%) and the UK (+2.7%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing importer imported in the world, with a CAGR of +15.6% from 2012-2022. Germany and China experienced a relatively flat trend pattern. While the share of Spain (+4.2 p.p.) and Italy (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Germany (-1.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($1.4B), Mexico ($1.3B) and Germany ($836M) were the countries with the highest levels of imports in 2022, with a combined 25% share of global imports. Spain, the Netherlands, Canada, France, South Korea, the UK, Italy, China, Belgium and Poland lagged somewhat behind, together comprising a further 38%.

Among the main importing countries, Spain, with a CAGR of +16.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average plastic box import price stood at $2,817 per ton in 2022, falling by -15.1% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 11% against the previous year. Over the period under review, average import prices hit record highs at $3,708 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($5,613 per ton), while Mexico ($928 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+1.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Plastic Boxes, Cases, Crates And Similar Packing Articles

In 2022, global plastic box exports rose markedly to 4.5M tons, growing by 6.2% compared with the previous year. The total export volume increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 20% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, plastic box exports expanded modestly to $15.5B in 2022. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Mexico (893K tons), distantly followed by China (384K tons), the United States (367K tons), Germany (291K tons), France (248K tons), the Netherlands (239K tons) and Poland (214K tons) represented the key exporters of plastic boxes, cases, crates and similar packing articles, together comprising 58% of total exports. Spain (150K tons), South Korea (132K tons), the UK (130K tons), Belgium (114K tons), Taiwan (Chinese) (98K tons) and Canada (89K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plastic box exports from Mexico stood at +3.9%. At the same time, Spain (+9.4%), the Netherlands (+8.1%), Poland (+6.9%), the UK (+6.5%), South Korea (+4.8%), Germany (+4.1%), Taiwan (Chinese) (+4.0%), France (+3.7%) and Belgium (+3.4%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +9.4% from 2012-2022. Canada, the United States and China experienced a relatively flat trend pattern. From 2012 to 2022, the share of the Netherlands increased by +1.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.3B), the United States ($1.8B) and Germany ($1.4B) were the countries with the highest levels of exports in 2022, together comprising 36% of global exports. Mexico, France, the Netherlands, Poland, South Korea, the UK, Spain, Belgium, Taiwan (Chinese) and Canada lagged somewhat behind, together accounting for a further 38%.

Among the main exporting countries, Spain, with a CAGR of +9.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average plastic box export price amounted to $3,412 per ton, with a decrease of -3.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 2.4%. Over the period under review, the average export prices reached the maximum at $3,585 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($6,066 per ton), while Mexico ($1,130 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform