As per FMI, the global plastic bottles market is anticipated to grow from US$ 60.2 Bn in 2021 to US$ 97 Bn by 2032, with overall plastic bottle sales rising at 5.5% CAGR throughout the forecast period.
Rising usage of plastic bottles for packaging beverages, drugs, cosmetics, and homecare products due to their low cost, high strength, and impact resistant features will continue to provide impetus to the growth of plastic bottles market during the forecast period.
Over the years, demand for plastic bottles has risen at a significant pace and the trend is likely to continue during the forecast period, with the top 3 countries estimated to hold 30-35% of the overall plastic bottles market in 2022.
Plastic is a product that is used all around the world, and the market is exploding with creative, cost-effective, and environmentally friendly packaging choices. In order to address the demand for bottles, leading businesses like Amcor have produced innovative plastic product shapes. PET is predicted to increase faster than other material types during the projected period, with a compound annual growth rate of 3.9%, according to FMI study.
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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.
Key Factors Impacting the Plastic Bottles Market:
- Packaging Demand: The plastic bottles market is closely tied to the demand for packaging across multiple industries, including food and beverage, pharmaceuticals, cosmetics, and household products.
- Material Innovation: Advances in plastic manufacturing technology have led to the development of lightweight and sustainable plastic bottles, aligning with environmental concerns and regulations.
- Recycling Initiatives: Growing awareness of plastic pollution and sustainability has driven the adoption of recyclable and eco-friendly plastic bottles, as well as recycling programs.
- Health and Hygiene: The COVID-19 pandemic emphasized the importance of safe and hygienic packaging, boosting demand for plastic bottles in the healthcare and sanitization sectors.
- Beverage Industry: The beverage industry is a significant consumer of plastic bottles, with trends such as increased consumption of bottled water and the demand for convenience contributing to market growth.
Market Trends and Future Outlook:
- Sustainable Packaging: Brands are increasingly focusing on sustainable packaging solutions, leading to innovations in recyclable and biodegradable plastic bottles.
- Single-Use Plastic Bans: Some regions and countries have introduced or proposed bans on single-use plastics, which have led to the exploration of alternative packaging materials.
- Customization: Customized plastic bottles with unique shapes, colors, and branding are becoming more popular for differentiating products in the market.
- E-commerce Packaging: The growth of e-commerce has driven the demand for durable and shatter-resistant plastic bottles for shipping various products.
- Pharmaceutical Packaging: The pharmaceutical industry has been a significant consumer of plastic bottles, especially for liquid medications and over-the-counter products.
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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)
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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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