Market Overview
The Global Plastic Bottles and Containers Market size is estimated to reach at a significant CAGR during the forecast period 2024-2031.
Plastic bottles and containers are low to high plastics and hold water, medication, soft beverages, milk, ink, etc. The sizes of plastic bottles and containers could be customized as per requirement utilizing various manufacturing techniques such as blow molding. The manufacture of plastic bottles is extremely energy efficient.
It could produce enough products to carry 10 gallons of liquids from almost 2 pounds of polymers, making them superior to glass, metal, and other materials used to manufacture similar products. The plastic bottles have strong barrier qualities, chemical resistance, and rigidity, making them ideal for packaging items with a limited shelf life, such as milk and dairy products. Plastic bottles are further useful in deterring theft.
Market Scope
| Metrics | Details |
| CAGR | High |
| Size Available for Years | 2023-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Raw Material, End User and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle East & Africa |
| Largest Region | Asia-Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Equipment Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
The global plastic bottle and container market are being pushed by rising demand in the food and beverage sector, particularly sugary drinks. The increased expenditure on personal care, cosmetics items, and consumer goods also rapidly raised the demand for plastic bottles and containers.
The surge in demand in food and beverages
The demand in the food and beverage sectors is expanding rapidly as a result of the population explosion. The experienced growth is exceptional in the global packaged soft drinks and food products, in terms of consumer expenditure because of the lack of time experienced due to the rat-races of modernity and increased. As a result of the ever-growing demand for packed food and beverages, the demand for plastic bottles and containers as a storage medium availed at reasonable and inexpensive rates grows exponentially.
For instance, according to the Institute of Food Technologists Organization, global sales of packaged foods and drinks and clean label packaged foods increased to around US$2.1 trillion and US$195.7 million, respectively, in 2018. Further, the clean label soft drink sales increased to around US$48.2 million the world over. As a result of the significant expansion in the sale of packaged food and drinks globally, there is a huge need for packaging products that could contain these products effectively and efficiently. As plastic bottles and containers are the cheapest and effective method to ensure proper storage of packed food and beverages in eye-candy designs, the demand for the respective products is also rising rapidly. Therefore, a surge in demand for food and beverages could be a major driver pushing the global plastic bottles and containers market upwards.
Stringent governmental rules and regulations the world over
Since modernity realized climate change and environmental pollution are an immediate threat, activists and laymen protested against environmentally degrading products such as plastics rising globally. As a result of the growing concerns and threats associated with environmental pollution, governments the world over have set tight laws and regulations surrounding the usage of plastics, stifling the growth of this sector.
For instance, on June 10, 2019, Canada's Prime Minister Justin Trudeau passed bills to reduce plastic pollution. Further, the Canadian government also intends to outlaw products like water bottles, plastic bags, straws, among others, by 2021. Furthermore, the German government prohibited the sale of single-use plastic bottles, food containers, among others, in 2021.
Since such governmental regulations affect the demand generation, sales and revenue of the global plastic bottle and containers and market players, The respective factor can stifle the expansion of the plastic bottles and containers market on a global scale.
Market COVID-19 Impact Analysis
The COVID-19 epidemic had a moderately diminishing effect on the global plastic bottles and containers market. The primary reason for the market's downfall is the shutdown of numerous prominent production industries and end-users. Further, as several nations implemented trade and production restrictions due to the pandemic, the demand and sales of plastic bottles and containers went downhill.
However, demand for plastic bottles and containers climbed back after the restriction imposed by authorities lifted as the major market players resumed production. Furthermore, the increased investments and development of new products to meet the packaging requirements of end-user segments helped in the upliftment of the respective market. The post-pandemic growth of end-user markets such as pharmaceutical, consumer goods and food and beverage industries further supplemented the uphill increase in demand and revenue generation of the plastic bottles and containers market.
For instance, on September 30, 2020, Alpla Group, a packaging solutions and recycling expert located in Hard, Austria, finalized the acquisition of the Amcor factory in western India, which manufactures preforms for polyethylene terephthalate (PET) bottles. Furthermore, on September 8, 2020, Amcor became a member of the digital watermark project "HolyGrail 2.0," a packaging technology firm dedicated to boosting recycling. Its membership has brought around 85 packaging value chain enterprises and organizations, including significant customers and industry peers.
Similar updates by key market players generated an enormous demand for expanding the plastic bottles and containers sector. The colossal growth in the demand for medical devices, sanitizers, cleaning, and detergent products post COVID-19 pandemic created a huge opportunity for the plastic bottles and containers market to flourish and grow in the future.
Market Segmentation Analysis
The global plastic bottles and containers are segmented based on raw material, end-user and region.
The ease of processability and recyclability helps the PET segment to grow exponentially in the market.
The global plastic bottles and containers market is divided into polyethylene terephthalate (PET), high-density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), and others based on raw material. Among them, polyethylene terephthalate (PET) has the largest market share, owing to the ease at which it could be processed and manufactured and its recyclability.
The respective properties of PET further increased its applications and demand in the consumer goods, food and beverage, cosmetics, and pharmaceutical sectors, among others, thereby resulting in its domination in the plastic bottles and containers market in terms of sales and demand. For instance, on December 8, 2020, Amcor cooperated with 35 consumer goods firms to minimize plastic waste by executing the Plastic Waste Coalition of Action. Amcor intends to manufacture PET bottles from waste plastics for recycling packaging by consumer products and packaging firms.
Similarly, the high-density polyethylene (HDPE), low-density polyethylene (LDPE) and polypropylene (PP) segments are expanding at a quicker rate as a result of increased demand for recyclable packaging from top players in various end-user segments such as food and beverages, pharmaceuticals, among others.
Market Geographical Share
Asia-Pacific holds the largest market share global Plastic Bottles and Containers Market
The presence of several manufacturing companies, growing industrialization, and rising investment by the leading players in the region helped the Asia-Pacific to be the most dominating region in the global plastic bottles and containers market, accounting for the humongous market share.
Furthermore, increased government and private company investment in the Asia-Pacific area for various projects connected to the food and beverage industries have produced significant demand for expanding this region's plastic bottles and containers market. For instance, on March 24, 2020, Coca-Cola announced plans to invest more than $19 million in a PET recycling facility in the Philippines, Southeast Asia, with a capacity of 35.3 million pounds per year.
North America and Europe follow the Asia-Pacific in terms of market share. North America is expanding swiftly due to increased demand for plastic bottles and containers in the region's expanding pharmaceuticals, food and beverage, cosmetics and personal care industries. The increased investment by food and beverage industry leaders in the European region allows Europe to expand at almost the same pace as North America.
For instance, starting December 9, 2020, PepsiCo plans to utilize post-consumer PET plastic for beverage packaging. By 2021, the business aimed to replace more than 150 million pounds of virgin resin per year with recycled plastic in Germany, Poland, Romania, Spain, Greece, among other countries in Europe.
Market Competitive Landscape
The plastic bottles and containers market is extremely competitive with the presence of local and global companies. Some of the major market players contributing to the market's growth include CKS Packaging, Smurfit Kappa, Plastipak Holdings, Alpha Packaging, Berry Global Inc, Amcor Limited, Aaron Packaging, CCC Packaging, PDG Plastiques, Cospack America Corp, among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of the Plastic Bottles and Containers Market globally.
For instance, on June 11, 2019, Amcor finalized the acquisition of Bemis Company Inc. for US$ 6.8 million to build the worldwide leader in consumer packaging and exploit sustainable packaging possibilities globally.
Amcor LLC:
Overview: Amcor LLC is a global pioneer in the development of sustainable packaging for food, beverage, pharmaceutical, medical, homecare, personal care, among several other products. Amcor has multiple brands and subsidiaries with various brands to enhance value chains for a variety of specialty flexible, rigid packaging and services such as cartons, closures, among others. The company's primary focus is on producing recyclable, reusable and lightweight, packaging with high recyclable and recycled contents. The firm employs around 48,000 employees at approximately 250 sites across over 40 countries worldwide.
Product Portfolio:
- Plastic Bottles and Jars Products includes:
- 20oz Inverted Squeeze: The product is a multilayer PP bottle, ideal for condiments hot filled up to 205F.
- 20oz Inverted Squeeze: The product is a multilayer PP bottle perfect for hot loaded condiments up to 205F.
- 1L Billboard Round: the product is a PP bottle suitable for condiments that can be hot up to 205F.
- 24oz APEX63 Hot Fill Wide Mouth: The product is a wide mouth PET container suitable for hot-filled sauces, salsas and jams/jellies up to 205°F and comes with a metal lug closing, premium look as well as superior freshness technology.
Key Development:
- On December 3, 2020, Amcor launched a new hot-fill polyethylene terephthalate (PET) container for Nutrea/groundbreaking Frudelca's Fruprof protein drink that combines natural juice with protein to appeal to health-conscious customers from Colombia.
- In addition, on November 6, 2020, Amcor created Brazil's lightest 900-ml PET container for edible oil. The custom-designed container could be utilized for agribusiness and food producers and is 22% lighter than competitor bottles, resulting in higher productivity and sustainability advantages.
- On September 29, 2020, Amcor introduced the world's first recyclable flexible retort pouch for meat and other food products.
