Plastic Bottles - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Plastic Bottles market is accounted for $148.53 billion in 2018 and is expected to reach $284.78 billion by 2027 growing at a CAGR of 7.5% during the forecast period. Some of the key factors propelling the market growth are increasing demand in bottles-water industry and growing demand from the packaging industry. However, rising awareness and environmental concern over the use of plastics is the restraining factor for the growth of the market.
Plastic is one of the most used packing materials than other equivalents such as glass, and metal. The minimal cost of packaging is encouraging its utilization in various other industries. With environmental concerns emerging in the countries, significant players have boosted their investments in research and development to tackle environmental concerns and make plastic bottles safer for use. Plastic packaging has been witnessing an increasing tendency from consumers over different products, as plastic packages are light in weight and simpler to handle.
By raw material type, Polyethylene Terephthalate (PET) segment is expected to grow at the significant market share during the forecast period they are manufactured locally and are also finding rising adoption, with companies looking to attract consumers by offering various types of products. On the other hand, new innovations in food packaging are creating new potential for growth across the world. On the basis of geography, North America is anticipated to hold considerable market share during the forecast period owing to increasing utilization of these containers in industrial applications. In US, bottled water consumption is increasing every year. It projects to continue to increase across products and sectors, including food and water, household, pharmaceutical industries.
Some of the key players in Plastic Bottles Market include Alpack Plastic Packaging, Alpha Packaging, Amcor Ltd, Bericap GmbH & Co. KG, Berry Global Inc, CKS Packaging Inc, Comar LLC, Consolidated Container Company, Cospack America Corporation, Gerresheimer AG, Graham Packaging Company and Plastipak Holdings Inc.
Raw Material Types Covered:
• High-density Polyethylene (HDPE)
• Low-density Polyethylene (LDPE)
• Poly Propylene (PP)
• Polyethylene Terephthalate (PET)
• Other Raw Materials
End Users Covered:
• Beauty and Personal Care
• Household Care
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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