Rockville, Feb. 09, 2023 (GLOBE NEWSWIRE) -- 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.
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. 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.
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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 polypropylene (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.
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.
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.
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Key Companies Profiled
- 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
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
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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), polypropylene (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).
Check out more related studies published by Fact.MR Research:
Baby Bottles Market: The global baby bottles market is estimated at USD 3.3 Billion in 2022 and is forecast to surpass USD 5.2 Billion by 2032, growing at a CAGR of 4.7% from 2022 to 2032.
Paper Bottles Market: The global demand for Paper Bottles Market significant growth 5.2% in 2021, to total 31.8 Mn units. Packaging paper bottles displayed growth of 5.4% to total 24.3 Mn units, while demand for paper water bottles was up 4.7% to 7.5 Mn units.
Connected Bottles Market: The global connected bottles market is expected to burgeon, owing to several beverage companies that are looking forward to news ways of marketing their products and connect directly to consumers for further campaigns.
Two Compartment Bottles Market: Two compartment bottles can store cold coffee and green tea at the same time. Plus, the bottle can also store solid materials as it can be opened from between.
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