Growing trend of using recycled plastic bottles in the food and beverages industry would greatly support market expansion. Constant innovations in plastic bottle manufacturing that can enhance internal gas-proofing are being seen, extending the shelf life of products, which is anticipated to stimulate product demand over the next ten years
ROCKVILLE, Md., Nov. 17, 2022 /PRNewswire/ -- According to the latest published industry report by Fact.MR, a market research and competitive intelligence provider, at present, the global plastic bottles and containers market is valued at US$ 155 billion and is forecasted to reach a market size of US$ 230 billion by 2032.
Plastic packaging is growing in popularity among consumers over alternative product packaging due to its lightweight and ease of handling. Even significant manufacturers favor plastic packaging options due to their low production costs.
Due to its many advantages for both makers and consumers, PET is the most widely used material for bottled water, carbonated soft drinks, and juice packaging. PET is regarded as non-toxic, robust, lightweight, and recyclable. Refillable items have become more popular due to consumers' growing environmental consciousness, which has increased product demand.
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Plastic containers are corrosion-resistant and chemically inert, protecting the pharmaceuticals and extending their shelf life. Hence, the demand for these containers is projected to stimulate during the projection period due to the rapid expansion of the pharmaceutical industry.
Plastic bottles and containers used in the beverages industry are the main components that guarantee safety and longer shelf life while also guarding against spillage, humidity, and toxins. Sales of plastic bottles and containers are projected to be boosted by the introduction of new beverage products with practical benefits by a number of beverage firms and rising consumer health consciousness.
Key Takeaways from Market Study
- Market in Canada is forecasted to expand at a CAGR of 3% over the forecast period (2022-2032).
- Demand for poly propylene (PP) is estimated to rise at a CAGR of 3.5% from 2022 to 2032.
- Sales of plastic bottles and containers are predicted to increase at 4% CAGR.
- Market in Germany is anticipated to progress at a CAGR of 2% through 2032.
Winning Strategy
Key manufacturers are continuously developing new product designs. Top market participants are concentrating on increasing their manufacturing capacities and implementing cutting-edge technology to satisfy consumer demand. Major players are partnering with other companies and working with recycling businesses to increase their market share.
For instance,
- In 2020, Amcor introduced OmniPack, a member of the PET bottle family. The company will be better able to meet the growing demand for packaging suitable for e-commerce due to this new release.
Key Companies Profiled in Plastic Bottles and Containers Market
- RPC Group
- Berry Global
- Amcor plc.
- Plastipak Packaging
- Graham Packaging, LP.
- Greiner Packaging
- Alpha Packaging
- Zijiang
- CKS Packaging Inc.
- Bericap GmbH & Co. KG
- Comar LLC
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Segments of Plastic Bottles and Containers Industry Research
- By Raw Material :
- Polyethylene Terephthalate (PET)
- Poly Propylene (PP)
- Low-density Polyethylene (LDPE)
- High-density Polyethylene (HDPE)
- Others
- By Application :
- Beverages
- Food
- Cosmetics
- Pharmaceuticals
- Household Care
- Industrial
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global plastic bottles and containers market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of raw material (polyethylene terephthalate (PET), poly propylene (PP), low-density polyethylene (LDPE), high-density polyethylene (HDPE), others) and application (beverages, food, cosmetics, pharmaceuticals, household care, industrial), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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Key Questions Covered in the Plastic Bottles and Containers Market Report
- What will be the demand outlook for the Plastic Bottles and Containers market during the forecast period?
- Which are the challenges faced in the Plastic Bottles and Containers market?
- Which region will lead the growth in the global Plastic Bottles and Containers market during 2022-2032?
- What is the projected market valuation of the Plastic Bottles and Containers market in 2032?
- Which are the factors driving the Plastic Bottles and Containers during 2022-2032?
- Which category will generate maximum revenue in the global Plastic Bottles and Containers market?
Explore Fact.MR's Coverage on the Consumer Goods Domain
Blow Molded Containers Market: The key market players in the blow molded containers market are focusing on technological advancements, product innovation, and adoption of recyclable and sustainable packaging solutions. These strategies help them to cater to the ever-changing dynamics in the packaging industry, which is bound by a number of regulations.
Bulk Containers Market: Bulk containers are primarily used for the storage and transportation of bulk goods. These containers are not only sturdy and spacious but also help in reducing shipping costs, owing to their reusability. Bulk containers are capable of retaining their forms without collapsing under adverse conditions. These containers are easy to handle as they allow easy lifting using tools such as forklifts.
Takeout Containers Market: The takeout containers market has seen a historical CAGR of over 2% from 2015 to 2019, owing to the moderate growth in the demand for takeout containers across North America and East Asia. The market is projected to expand at a CAGR of over 3.5% over the forecast period of 2020 to 2030. While changing preferences of consumers regarding food packaging and sustainability have been one of the key deterrents for growth, efforts of players in the market for offering new alternatives have been maintaining buoyancy in the demand of takeout containers.
Modular Containers Market: Newly-released modular containers industry analysis shows that global demand enjoyed year-on-year (YoY) growth of 1.1% in 2021, to total 140,300 units. Fixed modular containers displayed negative growth of 0.5% to total 37,000 units, while relocatable modular containers was up 1.7% to 103,300 units.
About Fact.MR
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