The PCR bottles market is anticipated to expand from US$ 23.3 billion to US$ 42.2 billion by 2032, with annual sales increasing at a 6.1% CAGR from 2022 to 2032.
The market for PCR bottles is being primarily driven by the growing demand for environmentally friendly packaging options across several sectors, including food and beverage, cosmetics and personal care, chemical, and pharmaceutical.
One of the food and beverage packaging industry’s fastest-growing markets is PCR bottles. The need to avoid utilising single-use plastic packaging across end-use sectors in order to fulfil sustainability goals is the main driver of the demand for polymerase chain reaction bottles.
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Using PCR bottles made of recycled materials makes it simpler to accomplish the goals of the circular economy. Because they generate less waste than traditional plastic bottles, PCR bottles have mostly replaced them.
The PCR bottles are produced in capacities of less than 30 ml, 30 to 100 ml, 101 to 250 ml, and more than 250 ml, depending on the requirement. Most end-use businesses make use of 101-250 ml PCR bottles. Because using PCR bottles produces less trash than using regular plastic bottles, they have taken the place of such bottles.
Due to the rising need for recycled rigid packaging, the market for PCR bottles is also growing. Sales of PCR bottles are increasing as a result of customers’ and manufacturers’ increased focus on recyclable packaging due to environmental concerns. Overall, it is projected that the increased need for rigid containers and growing consumer awareness would result in higher global sales of PCR bottles.
Who is Winning?
The key players operating in the global PCR bottles market Amcor Plc, Berry Global Group, O.Berk Company, Silgan Plastics, and Ecopack Co. Ltd. are the key players operating in the global PCR bottles market. Also, some of the other noticeable players in the market include Pretium Packaging, Wolf Plastics (Alpla Group), Henkel AG & Co. KGaA, Poly-Tainer, Inc., West Coast Container Inc., The Procter & Gamble Company, and others.
These players are committed towards developing eco-friendlier packaging solutions to meet end user demands as well as to comply with stringent environmental regulations. Besides this, they are adopting strategies such as mergers, acquisitions, collaborations, partnerships, and facility expansion to expand their global footprint.
Key Takeaways from PCR Bottles Market
- Based on material, the rPET segment is expected to hold around 54% share of the global PCR bottles market by 2032.
- In terms of capacity, the 101 to 250 ml capacity type segment is expected to grow 1.6 times the current market value during 2022-2032.
- The food & beverage segment followed by the cosmetics & personal care segment by end use is projected to hold around 58% of the market value share by the end of 2022 due to the increasing adoption of sustainable packaging by the brands.
- The U.S. PCR bottles market is anticipated to grow 1.5 times the current market value during the forecast period
- Germany is estimated to hold nearly 23% of the Europe PCR bottles market by the end of 2032.
- Demand for PCR bottles in India is projected to rise at a CAGR of 7.3% during the forecast period.
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“Demand for recyclable packaging has grown as a result of consumer environmental awareness. PCR bottles are becoming more popular since they can keep the product’s quality just like conventional bottles. The target market is expected to see growth opportunities due to the 100% recyclable nature of PCR bottles, which address the sustainability issue” – says an FMI analyst
The Inclining Minds of Global Consumers Towards Sustainability to Augment the Sales of PCR Bottles
While pollution is more of a concern in Asian countries and America, marine litter is top of mind in Europe and Japan. Across the globe, the majority of consumers are willing to pay more for sustainable packaging solutions such as PCR bottles.
Coming out of the pandemic, people seem to have started to behave more responsibly towards the environment, starting with preferring sustainable packaging solutions over polluting ones despite their better overall performance and cost effectiveness. For instance, as per the CEO of Unilever, Alan Jope, 2/3 of consumers around the world choose brands because of their stand on social issues. Similarly, over 90% of millennials have said they are ready to switch brands for one which supports a cause. Thus, the inclining minds of global consumers towards sustainability will augment the sales of PCR bottles.
Global Regulatory Development to Bolster the Demand for PCR Bottles
In light of the growing climate emergency, policymakers are establishing targets for waste and emissions. The governments have outlawed single-use plastic in nations with dense populations, encouraging people to switch to sustainable packaging products.
Economic expansion and rising consumption levels are anticipated to generate considerable growth prospects for PCR bottles. The large number of plastics-related rules in Asia and the EU, with France and India at the forefront in this regard, presents a tremendous potential for local manufacturers.
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PCR Bottles Industry by Category
By Material:
- rPET
- rPP
- rPE
By Capacity:
- Below 30 ml
- 30 – 100 ml
- 101 – 250 ml
- Above 250 ml
By End Use:
- Food & Beverage
- Pharmaceuticals
- Cosmetics & Personal Care
- Chemicals
- Homecare & Toiletries
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
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