The plastic bottles and containers market is anticipated to grow at a CAGR of 5.5% during the forecast period. Plastic bottles and containers are made from various grades of high- and low-density plastics for storage purposes. Plastic bottles and containers are rugged & resilient and are safe to handle which makes them suitable a considerable option for packaging. Hence, the high demand for various plastic bottles and containers in its application sector for the packaging purpose will significantly drive the market growth during the forecast period.

Growth in the cosmetic industry due to increasing disposable income and increasing usage of ready to eat food all across the globe are some of the factors driving the market growth. However, plastic is one of the major sources of pollution whether it is marines, land, or air pollution. Hence, government regulation to curb plastic waste is one of the major challenges for the plastic bottles and container market in the near future. The government is setting targets to reduce plastic waste by introducing recycling targets. Result of this, the overall cost of the plastic products can increase, and the manufacturers can shift to alternatives of the plastic. It a restricting factor for the potential growth of the market in the near future. 

Segmental Outlook 

The global plastic bottles and containers market is segmented based on the raw material and end-use vertical. Based on the raw material, the market is sub-segmented into PET, PP, LDPE, HDPE, and others. Further, based on the end-use vertical the market is sub-segmented into beverages, food, cosmetics, chemical & pharmaceuticals, and others. Beverage includes alcohol, water, soft drinks, fruit drinks, and dairy products. Food includes both packaged food and raw fruits and vegetables. Other segment includes household products. 

The PET segment will be the fastest-growing segment by raw material

The PET segment is anticipated to grow with a significant CAGR in the plastic bottles and containers market owing to its lightweight and easy to handle properties. Moreover, plastic bottles and containers manufacturers all across the globe are also preferring to use PET due to their low production cost. Additionally, the use of PET can reduce up to 90% weight hence, making the final product more economical for transportation purposes. In addition to this, the containers made from PET are transparent and hence they are widely used for food packaging purposes. This is also expected to significantly drive the growth of the PET segment in the plastic bottles and containers market.

Global plastic bottles and containers market share by raw material, 2020 (%)

Regional Outlooks

The global plastic bottles and containers market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is expected to hold the largest market share in the plastic bottles and containers market during the forecast period. It is due to the excessive consumption rate of packaged food beverages across the region. According to the American Institute of Graphic Arts’s (AIGA) case study, every second, 1,500 bottles of water are consumed in the US that equates to 50 billion bottles consumed in a year. Moreover, the stringent environmental regulations in the region will significantly promote the use of recyclable plastic bottles and containers. In addition to this, the growing consumer base in the personal care industry is also attributed to contributing considerably to the plastic bottles and containers market across the region.

Global Plastic Bottles and Containers Market Growth, by Region 2020-2026

Asia-Pacific will augment with the fastest growth rate in the plastic bottles and containers market 

Asia-Pacific is anticipated to hold the fastest growth rate in the plastic bottles and containers market owing to increasing demand from the highly populated countries such as India and China. The rapidly growing food and beverage industry of the region will also foster the growth market. Moreover, the established pharmaceutical production industry in countries such as Myanmar, India, Vietnam, and China are also expected to drive the growth of the plastic bottles and containers market. Besides, the rules and regulations related to plastic waste are lenient in these emerging economies as compared to developed economies, due to which low cost of plastic bottles and containers can be manufactured in the region. 

Market Players Outlook

The key players of the plastic bottles and containers market include Amcor PLC, Chemco Group of Companies, RESILUX NV, Takemoto Packaging. Inc., Zhenghao Plastic & Mold Co., Ltd., KHS Group, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including merger & acquisition, collaborations with government, funding to the start-ups, and new product launches to stay competitive in the market.  For instance, in March 2018, considering the growing preference for lightweight plastic over glass containers within the food industry KHS Group launched a new lightweight, wide-neck PET container. These newly launched containers were intended for the storage of sauce, dressing, and dairy products.

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global plastic bottles and containers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.