|Forecast Period :||2018-2026|
|Base Year :||2018|
|Leading Market Segments :||PET Bottles|
|Value in 2018 :||$109 Billion|
|Research covered :||100+ Countries|
Global Statistics Representing Plastic Bottles and Containers Market Scenario
Plastic bottles and containers are primarily made of PET, HDPE, LDPE, and other materials. PET and HDPE bottles register tremendous demand from various end-use industries, including food and beverage, pharmaceutical, and others. The food and beverage industry is the primary consumer of plastic bottles and containers, owing to their high thermal capability, transparency, chemical resistance, high rigidity, and other features. HDPE plastic bottles are majorly used for packaging of juice and carbonated drinks as they provide high-quality printing and frizzing capability. Moreover, they can be shaped according to the manufacturer’s requirement.
The global plastic bottles and containers market was valued at USD 109 billion in 2018 and is projected to reach a value of USD 165 billion by 2026, registering a CAGR of 5.5% during the forecast period, 2019–2026.
The global plastic bottles and containers market, based on material type, is segmented into HDPE, LDPE, PET, PP, and others. PET bottles and containers are expected to gain significant traction in the global market during the assessment period, owing to their characteristics such as high clarity, chemical resistance, food contact safety, and high impact resistance. They are optimally used for bottled water, frozen foods, juices and carbonated drinks, household products, and others. According to plasticinsight.com, PET plastic bottles are commonly used for the packaging of water and carbonated soft drinks.
Based on plastic processing, the plastic bottles and containers market is segmented into extraction blow molding, injection blow molding, and others. Approximately 40% of plastic is processed through this technique. The advantage of using injection molding machines is that an ample amount of molded parts can be produced economically with no further need for finishing the operation. Technological advancements and innovations in the injection blow molding machines are expected to influence the market growth during the assessment period. For instance, According to the Medical device and diagnostic industry, injection blow machines was invented to control mold temperature. Gas-assisted injection molding is evolved from the modification of structural foam process known as gas counter pressure, this technical advancement or process minimizes the surface swirls, and also resolves problems associated with foamed parts finishing or painting.
In terms of application, the plastic bottles and containers market is segmented into food and beverage, pharmaceutical, personal care, household, and others. The food and beverage industry is expected to be the major consumer of plastic bottles and containers. This is majorly attributed to the growing use of plastic packaging in the food and beverage industry and official approval to use recycled plastic for highly disposable food and beverage products. For instance, according to the American Chemistry Council, the most common plastic resins approved by the FDA for food contact are post-consumer recycled (PCR) PET, polypropylene (PP), high-density polyethylene (HDPE), low-density polyethylene (LDPE), and polycarbonate (PC).
The growing food and beverage industry is expected to boost the market owing to the increase in the use of recyclable packaging for food and beverage products. For instance, according to Invest India (Ministry of Commerce and Industry, Government of India), the Indian food & retail market and the dairy industry are estimated to reach USD 828.92 billion and USD 140 billion respectively by 2020.
Geographically, the plastic bottles and containers market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
In North America, awareness regarding the protection of the environment, and the tendency to use recyclable plastic is expected to elevate the market. The growing use of recyclable plastic for highly disposable products to reduce non-recyclable plastic in the region is foreseen to positively influence market growth. For instance, according to the American Chemistry Council, around 90% of Americans can recycle plastic bottles in their communities, and over 1.36 billion Kilogram of plastic bottles (beverages, cleaners, detergents, household, and others) were recycled in the U.S. in 2015.
In Europe, the grocery retail sector is the largest source of plastic packaging, accounting for almost 1 million tons, from which rigid plastic packaging accounts for two-thirds of plastic packaging. It highlights the fact that the grocery sector in the UK is the largest user of rigid plastic packaging. For instance, according to WRAP, 60% of rigid plastic is utilized in the retail grocery products and 40% in others.
The growing food and beverage industry in the emerging economies such as China, India, and others is expected to surge the demand for plastic bottles and containers in the region. Plastic bottles are generally utilized for juice, carbonated, and non-carbonated drinks owing to their transparency and good quality printing. Additionally, the use of plastic bottles and containers is also observed in the packaging of grocery products such as cooking oil, detergent, cleaning liquids, coffee, tea, canned and jarred food, and others. The processed food market ranks fifth in terms of production and consumption is one of the largest industries in India.
Mexico is expected to be a healthy and lucrative market for the plastic bottles and containers market during the forecast period 2019-2026. This is majorly attributed to the growing demand for healthy and organic food, and the importance of supermarkets and convenience stores, which is anticipated to influence the market growth in the region.
Some of the prominent players operating in the plastic bottles and containers market are Amcor Limited, Graham Packaging, Anchor Packaging Inc., Plastipak Packaging, the Plastic Bottles Company, Alpack, Rahway Steel Drum Company, Alpha Packaging Holdings Inc., Werke Alwin Lehner gmbh & Company KG, International Packaging, and Constar International.
Global Plastic Bottles and Containers Market Segmentation
By Material Type
By Plastic Processing