The new report by Expert Market Research titled, ‘Global Plastic Bottles Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the plastic bottles market, assessing the market supported its segments like product type, application, end-user and major regions.
The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, along side analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 6.3%
Plastic packaging is becoming more popular among consumers than other types of packaging because it is lighter and easier to handle. Plastic packaging solutions are also preferred by major manufacturers due to their lower production costs. Because of their recyclability, polyethylene terephthalate (PET) plastic bottles are gaining popularity in the plastic bottle market.
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Furthermore, as a result of their durability, reliability, and environmental friendliness, polyethylene terephthalate plastic bottles are becoming more cost-effective in countries like the United States, which is boosting industry growth. Due to a shortage of corks, more people are using plastic bottles to replace glass bottles, which is increasing their use in beverage products like wine and juices, which is driving up demand. Plastic bottles are in high demand because of their airtightness, which can improve product stability.
Furthermore, the convenience that plastic bottles provide is driving up demand. The spread of western culture, which is heavily reliant on packaged goods, is driving up the use of plastic bottles in developing countries like India, China, Indonesia, and Brazil. The increasing demand for reusable plastic bottles as a result of rising environmental awareness is propelling the market forward.
Industry Definition and Major Segments
Plastic bottles are high- or low-density plastic containers used to store liquids such as soft drinks, water, shampoos, cooking oils, and inks. They’re inexpensive and durable. Furthermore, because plastic bottles are durable, versatile, and stable, they are used in a wide range of applications. The plastic bottle industry can be segmented on the basis of raw materials and application.
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On the basis of raw materials:
• Polyethylene Terephthalate (PET)
• Polypropylene (PP)
• Low-Density Polyethylene (LDPE)
• High-Density Polyethylene (HDPE)
• Others
On the basis of application:
• Beverage
• Food
• Cosmetics
• Pharmaceutical
• Household Care
• Others
On the basis of regional markets, the segmentation of the plastic bottles industry includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trends
Plastic as a product is widely accepted, and a wide range of innovative, cost-effective, and sustainable packaging solutions are emerging in the market. As a result, leading companies are introducing new plastic product formats to meet the demand for bottles. Plastic bottle design innovations, as well as their cost-effectiveness, are boosting market growth. The growing popularity of recyclable plastic bottles is boosting market growth. As a result, market growth is expected to be aided by the growing popularity of recycled plastic bottles in various countries.
The demand for recyclable plastic bottles is expected to grow as a result of various innovative approaches taken by leading companies to reduce energy consumption and environmental footprint of plastic bottles. The growing trend of using food-grade recycled plastic bottles in the food and beverage industry is expected to help the industry grow significantly.
Key Market Players
The major players within the market Alpha Packaging, CKS Packaging Inc., Bericap GmbH & Co. KG, Plastipak Holdings Inc., Graham Packaging Company and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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