Blow Molded Plastic Packaging Market Intelligence

Industry Outlook & Drivers

Global Blow-molded Plastic Packaging

• The global blow-molded plastic market was valued at $82-83 billion in 2018, and it is forecasted to grow at a CAGR of 4–5 percent to reach around $102-103 billion by 2023, mainly driven by the growing consumption of beverages
• The APAC market is forecasted to grow at a CAGR of 7–8 percent during the five-year period until 2023. The North American and Western European markets are matured and expected to grow at 2–3 percent, which is driven by personal care and beverage segments
• Innovation and technical advancements in blow-molded plastic bottle manufacturing process will facilitate a consequent increase in the production of such bottles

Major Global Trends in Plastic Bottles - HDPE and PET

Bioplastics

• Bioplastics are expected to be the focus of development for the next 10 years
• The market for bioplastic packaging is expected to grow at a CAGR of approx. 37–38 percent and reach 7.5 million metric tons in 2019

Impact

• Bioplastics consume lesser energy than petroleum-based plastics. Initiatives, like reducing waste and increased recycling, are catalysts in promoting the use of bioplastic products

Sustainable solutions

• With an increased focus toward environmental protection and sustainability, products with low carbon footprint are increasingly popular, which, in turn, has led to many advancements in the bottles sector

Impact

• As the world is shifting toward environmental friendliness and sustainability, eco-sustainable bottles will continue to foster green practices with expected introduction of new regulations relating to environmental sustainability

Multilayered bottles

• Increased preference of multilayered plastic bottles, especially in the cosmetics and personal care segments, owing to better light and gas-barrier properties, result in enhanced shelf life of the product
• Bi-injection and co-injection technology can help to incorporate multiple layers of polymers, which can ensure best-barrier coating and improved product life

Impact

• Multilayered PET bottles are gradually replacing HDPE and PP on grounds of being more durable, transparent, and due to superior barrier properties

Regional Market Outlook

• APAC is expected to witness a significant growth and contribute to approx. 40 percent of the global bottles demand by the end of this decade, majorly driven by the consumption in beverages market, growing at a CAGR of approx. 10 percent from 2018 to 2023
• China is the largest national market in the region, followed by Japan and India
• Cosmetics and personal care segments contribute to approx. 14 percent of blow-molded bottle consumption, and they are expected to grow at a CAGR of 4 percent. This segment is likely to be driven by growing consumption in APAC and also growing innovations in bottle designs across cosmetic segments
• Due to the presence of emerging countries in the region, it remains as a key market. As there are innovation and improvement in technology, buyers are investing more in this market