According to Future Market Insights (FMI), the plastic bottles market is set to grow from US$ 60.2 billion in 2021 to US$ 97 billion by 2032, at a compound annual growth rate (CAGR) of 5.5%.
Plastic bottles are increasingly becoming the preferred choice for packaging beverages, medicines, cosmetics, and homecare goods due to their low cost, high strength, and impact resistance properties. This ongoing trend is expected to continue driving the expansion of the plastic bottles market over the forecast period.
In response to market demand, the industry is witnessing the emergence of innovative, cost-effective, and eco-friendly packaging solutions for plastic, a widely used material globally. Leading companies, such as Amcor, are introducing creative bottle shapes to cater to diverse consumer needs.
Among various materials, PET (polyethylene terephthalate) is projected to grow at a faster rate compared to others, with a compound annual growth rate of 3.9% during the forecast period. PET is favored by manufacturers as it requires less raw material during production and is highly recyclable. Its ability to be customized with various colors and styles adds to its popularity. Additionally, the demand for refillable products is increasing, driven by growing consumer awareness of environmental concerns.
Plastic packaging is gaining popularity among consumers due to its lightweight and easy handling compared to other packaging materials. Moreover, large manufacturers find plastic packaging solutions cost-effective in production, further contributing to their preference for plastic bottles in various industries.
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Polyethylene terephthalate (PET) and high-density polyethylene (HDPE) are increasingly being used in plastic bottles. PET bottles, in particular, are becoming more common in the bottled water and soft drink industries.
Furthermore, the increasing utilization levels, the development of new bottle designs, and the emergence of small brands in the market indicate the expansion of the global plastic bottles market.
Key Takeaways from Bottle Carrier Market
- By material type, PET segment is expected to grow at 3.9% CAGR between 2022 and 2032, creating an incremental opportunity of US$ 16 Bn by 2032.
- Based on end use, demand for plastic bottles in beverage segment is projected to increase at 3.9% CAGR during the assessment.
- East Asia and North America are expected to remain the most dominant market for plastic bottles.
- The plastic bottles market in China is likely to grow at a CAGR of 5% between 2022 and 2032, totalling a valuation of US$ 14.5 Bn by 2032.
- Sales of plastic bottles in India are slated to rise at 5.6% CAGR during the forecast period, creating an incremental opportunity of US$ 4.0 Bn by 2032.
“Innovation in plastic bottle materials and designs, low cost of plastic bottles, and widening application of plastic bottles for storing and packaging various items are expected to boost market growth during the next ten years,”– says FMI analyst
Increase in Demand for Rigid Plastic Bottle Packaging is Fuelling the Market Growth
One of the major advantages of rigid packaging is the protection it provides to the products. Rigid plastic bottles make sure the beverage or any other product is delivered as it was intact in the first place. It helps in preventing any breakage or damage to the bottles.
In addition, plastic has various varieties of materials right from being lightweight and durable to low density and high-density plastics. So manufacturers can customize the bottles according to the requirements of the consumers in their specified budget.
Rigid plastics also have recycling options and thus, increase in demand for rigid plastics will continue to fuel market growth during the next ten years.
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Development of New Drugs in Plastic Bottles Augments the Sales of the Market
Pharmaceutical manufacturers are developing new drugs in the medical segment. Usually, small glass bottles are used for storage of drugs but there is always a risk of breakage of the glass bottles. This is when high quality plastic bottles are more feasible in this situation. Pharmaceutical manufacturers have started using high quality plastic bottles for storing the drugs safely. The high quality of the plastic will not give any reactions to the products as well.
In coming years, plastic bottles will be widely used in the pharmaceutical segment for the storage of the drugs and hence, this will boost the sales of plastic bottles in the market.
Who is Winning?
Some of the leading players operating in the plastic bottles market include Berry Global, Alpha Packaging, Amcor, Comar LLC, Graham Packaging, Cospack America Corporation, Bericap Gmbh & Co. KG, Alpha Packaging, Plastic Holdings Inc, CKS Packaging Inc, Weener Plastics Group BV, Container Corporation of Canada, Ontario Plastic Container Producers Ltd., Constar Internationals, Inc, Alpack Plastics, Plastipak Holdings, Inc, Resilux NV, Greiner Packaging, Silgan Holdings, Altium Packaging and others.
The market is expected to observe a strong competition due to increasing number of market participants across various nations. In order to capitalize, manufacturers are adopting strategies like new product launches, mergers, acquisitions, collaborations, and partnerships.
The Plastic Bottles Market Report offers several key benefits:
- Porter’s Five Forces Analysis: The report includes a comprehensive Porter’s Five Forces analysis, which helps to assess the potential power of buyers and suppliers, as well as the competitive scenario within the industry. This analysis aids in building effective strategies to navigate the market dynamics and competitive landscape.
- Regional Revenue Mapping: The major countries in each region are mapped based on their individual revenue contributions to the global/regional market. This mapping provides a clear understanding of the market’s performance across different geographical regions, helping businesses identify potential growth opportunities in specific markets.
- Current Trends and Future Scenario: The report outlines the current trends prevailing in the Plastic Bottles market and offers insights into the future scenario from 2022 to 2032. By understanding the prevailing opportunities and potential investment pockets, businesses can make informed decisions and plan for the future market landscape.
- Key Player Profiles and Strategic Developments: The report enlists the profiles of key players in the Plastic Bottles market, along with their key strategic developments. This information helps stakeholders gauge the competitive environment and the strategies employed by major players, aiding in formulating competitive business approaches.
- Impact Analysis of Drivers, Restraints, and Opportunities: The report provides a detailed impact analysis of the key drivers, restraints, and opportunities in the Plastic Bottles market. This analysis helps businesses comprehend the factors influencing market growth and adapt their strategies accordingly to leverage the opportunities and mitigate potential challenges
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Global Plastic Bottles Market by Category
By Material Type:
- PET
- PP
- PE
- PVC
- Others (PS, etc.)
By Capacity:
- Less than 250 ml
- 250 ml to 500 ml
- More than 500 ml
By End Use:
- Food
- Beverage
- Pharmaceuticals
- Personal Care & Cosmetics
- Homecare
- Others (Industrial)
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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