The global plastic bottles and containers market is anticipated to grow with a significant CAGR of 5.5% during the forecast period. The growth of the plastic bottles and containers market is attributed to the increasing trend of polyethylene terephthalate (PET) packaging across the globe. The adoption of PET (that is extruded or molded into plastic bottles and containers) is increasing significantly in end-user industries such as foods and beverages, personal care products, and various other consumer products.
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A major advantage of the PET bottles is that the bottles and containers made using PET can also be recycled easily to make new bottles and containers which will aid in reducing the excessive proliferation of plastics waste. In addition to this, PET’s properties such as great transparency and the shiny surface offer a special appearance to the bottles and containers made from it. The aforementioned facts will raise the adoption of PET made bottles and containers among manufactures which in turn will fuel the growth of the plastic bottles and containers industry.
PET resins low price also drives the plastic bottles and containers market growth. In addition to this, the trend towards lightweight PET bottles significantly aids in cost-optimization and also assists manufacturers in achieving a competitive edge in the market. Furthermore, the utilization of plastic bottles and containers is also raising to replace the glass-based bottles and containers. Glass has already reached its approx. limits in terms of lightweight hence, manufacturers are now giving emphasis on adopting plastic-based bottles and containers. Moreover, the manufacturing of PET bottles and containers through the blow molding method is cheaper and beneficial as compared to other methods. All these factors are expected to provide significant growth to the PET segment in the plastic bottles and containers market.
Global Plastic Bottles and Containers Market- Segmentation
By Raw Material
By End-Use Vertical
Global Plastic Bottles and Containers Market- Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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