Press Release

Global Plastic Bottles Market to Reach USD 256.2 Billion by 2026, Driven by the Rising Use of Single Use Plastic Bottles

Global Plastic Bottles Market

According to a new report by EMR titled, ‘Global Plastic Bottles Market Report and Forecast 2021-2026’, the global market for plastic bottles attained a value of about USD 177.6 billion in 2020. The industry is further expected to grow at a CAGR of 6.3% in the forecast period of 2021-2026 to reach a value of approximately USD 256.2 billion by 2026.

The Asia Pacific region is witnessing a robust growth due to the extensive use of single-use plastic products in the region, thus increasing the use of plastic bottles. Moreover, the immense popularity of non-alcoholic beverages in countries such as India and China is surging the demand for plastic bottles, which is bolstering the market growth. This trend is rapidly growing due to the escalating population and rapid urbanisation. Moreover, the penetration of various international food and beverages companies in emerging economies such as India, China, Vietnam, and Indonesia, among others, is also positively impacting the market growth of plastic bottles. Apart from this, the thriving pharmaceuticals industry in the region is providing further impetus to the industry growth. As China, India, and Japan are some of the most mature markets for pharmaceuticals, the use of plastic bottles is significantly growing in these regions, hence augmenting the market growth.

Some of the leading companies in the market are Graham Packaging Company (NYSE: GRM) and Alpha Packaging. The latter acquired Boxmore Plastics Limited located in Balleyconnell, County Caval, Ireland, in April 2021. Boxmore is one of the leading manufacturers of high-density polyethylene (HDPE) plastic packaging for the beverage, concentrates, healthcare, industrial, and food markets in Ireland. The acquisition supports the company’s strategy of geographic expansion while strengthening its presence in the European as well as global markets. It also increases the market share and adds important high-density polyethylene (HDPE) manufacturing capabilities in Europe. The acquisition is expected to enhance the consumer services of the company by providing greater options, geographical reach, and flexibility. Such mergers and acquisitions are significantly contributing to the market growth.

Market Analysis by Raw Material, Application, and Region:

  • The market, on the basis of raw material, can be divided into polyethylene terephthalate (PET), polypropylene (PP), low-density polyethylene (LDPE), and high-density polyethylene (HDPE), among others.
  • Based on application, the industry can be divided into beverage, food, cosmetics, pharmaceutical, and household care, among others.
  • The regional markets for plastic bottles include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing demand for polyethylene terephthalate (PET) plastic bottles owing to their reliability, durability, recyclability, and environmental friendliness, is aiding the market growth.
  • The market is being aided by the convenience and westernisation offered by plastic bottles, which is consequently surging their demand.
  • The development of advanced processing methods in the production of plastic bottles to improve internal gas proofing to enhance shelf stability and restore the taste of beverages is further propelling the market growth.
  • The rising demand for recyclable plastic bottles owing to increasing environmental consciousness, cost-effectiveness, and the growing trend of circular economy is providing additional impetus to the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for plastic bottles for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the raw materials, applications, and major regions of plastic bottles.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global plastic bottles market are Alpha Packaging, CKS Packaging Inc., Bericap GmbH & Co. KG, Plastipak Holdings Inc., and Graham Packaging Company, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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