According to research conducted by Future Market Insights, the global sugarcane bottle market is positioned for growth. The market is projected to attain a valuation of US$ 52.8 million in 2022 and is poised to expand further with a Compound Annual Growth Rate (CAGR) of 5.9%, reaching US$ 61.2 million by 2032. The sales of sugarcane bottles are expected to receive a boost, with the top three countries accounting for approximately 35 to 40% of the market by the close of 2022.
Among various capacity segments, the 251 ml to 500 ml category is forecasted to maintain its dominance in the sugarcane bottles market. This segment’s prevalence is attributed to its widespread applicability across diverse end-use industries. The 251 ml to 500 ml capacity range is anticipated to create an incremental opportunity of US$ 3.8 million between 2022 and 2032. This trend underscores the promising growth prospects of sugarcane bottles, driven by their sustainable nature and versatility across industries.
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The sugarcane bottles market is one of the fastest-growing markets in the global food and beverage packaging industry. Sugarcane bottles are used to store and pack different types of beverages. The urge of avoiding the use of plastic packaging in the end-use industry to gain sustainability goals is the major factor driving the demand for sugarcane bottles. The sugarcane bottles help in maintaining the properties of the stored goods. The sugarcane bottles are made available in different capacities based on the requirement such as less than 100 ml, 101 ml to 250 ml, 251 ml to 500 ml, and more than 500 ml. Majorly, 251 ml to 500 ml sugarcane bottles are used by various end-user industries.
The sugarcane bottle market is growing owing to the increase in the usage of biodegradable packaging solutions. Consumers and manufacturers are focusing more on recyclable packaging due to environmental concerns which bolsters the sales of sugarcane bottles. Overall, the rising demand for packed items and increasing consumer awareness are projected to boost the sales of sugarcane bottles across the globe.
Key Takeaways from Sugarcane Bottles Market
- The food & beverage and cosmetics & personal care segments collectively are projected to hold around 62% of the market value share by the end of 2022. Various food & beverage brand and cosmetic brand are adopting chemical-free packaging and biodegradable packaging to gain the attention of eco-friendly consumers which drives the demand for sugarcane bottles
- Capacity wise less than 100 ml bottles are anticipated to perform well in the pharmaceutical industry as they are perfect alternatives for packaging medicines like drops, syrups, medicinal powders, etc.
- South Asia is projected to create a growth opportunity for the sugarcane bottle market due to the increasing production of sugarcane in the region. The South Asia sugarcane bottles market is anticipated to grow 1.6 times the current market value during 2022-2032.
“The environmental awareness among consumers has increased the demand for recyclable and biodegradable packaging. Sugarcane bottles are gaining traction owing to their ability to preserve the quality of the product as traditional bottles. The printability feature on sugarcane bottles is projected to create growth opportunity for the target market addressing the look and feel of the product” – says an FMI analyst
High Tolerance of Sugarcane Bottles towards Chemicals is Impacting the Growth of the Sugarcane Bottles Market
Chemical resistance to the packaging of products in the industries like cosmetics and personal care and pharmaceuticals plays a critical role. Sugarcane bottles offer a very high resilience against such products and do not react with them under normal conditions making them an excellent alternative to glass or plastics.
Materials such as glass and plastics are manufactured using non-renewable raw materials and are majorly found lying in open land fields creating land pollution. Sugarcane bottles along with comparable properties are bio-based and get decomposed easily. Big pharma and cosmetic brands are constantly at war with authorities trying to tackle pollution problems. Despite being a little costly, sugarcane bottles are slowly trying to replace polluting materials while offering customizable containers of different shapes, and sizes and excellent chemical tolerance for the different end use industries.
Impact of Covid-19 on the Sugarcane Bottles Market
During the Covid-19 pandemic, supply of the sugarcane which is used as raw material for the production of sugarcane bottles became irregular, impacting the production of sugarcane bottles. The Covid-19 pandemic resulted in a lockdown situation that impacted various segments of the packaging industry. The rapid spread of the virus posed several challenges to the end use industry.
On the other hand, there was some upside in food & beverage and pharmaceutical products which had a slightly positive impact on the sugarcane bottles to a certain extent. Later, the situation began to normalize and the various end use industries started to operate with full efficiencies to cater to the demand and cover the financial damages. This created a growth opportunity for the sugarcane bottles market.
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Sugarcane Bottles Market Landscape
Bottle Up, Worthy, BE O Lifestyle, LYSPACKAGING, Berry Global Inc., Reyoung Corp., Bottle Promotions, and The Natural Bottle are the key players operating in the global sugarcane bottles market. Also, some of the noticeable players operating in the sugarcane bottles are Suzhou Fomalhaut Eco-Pack Material Tech Co., Ltd., Fortis X, Retulp, Velong Enterprises, Hangzhou Tianye Packaging Technology Co., Ltd., and others.
Sugarcane Bottles Market Report
Future market insights, in its new report, offers an unbiased analysis of the global sugarcane bottles market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on the sugarcane bottles based on the capacity (less than 100 ml, 101 ml to 250 ml, 251 ml to 500 ml, more than 500 ml), end use (food & beverage, cosmetics & personal care, pharmaceutical, consumer durables), and distribution channel (online, offline) across seven regions.
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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