Plastic Bottles Market Trends
Category Intelligence on Plastic Bottles covers the following
- Information relating to market, supply, cost, and pricing analysis
- Hard to find data on cost and TCO models, supplier details, and performance benchmarks
- Macroeconomic and regional trends impacting cost, supply, and other market dynamics
- Category-specific negotiation and sourcing advice
Industry Outlook & Drivers
Global Market Outlook on Plastic Bottles
The global blow-molded plastic market was valued at $86–87 billion in 2019, and it is forecasted to grow at a CAGR of 4–5 percent to reach around $98–99 billion by 2024, 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 2024. 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
Regional Market Outlook
North America
North America is expected to witness a growth of approx. 2–2.5 percent CAGR (2021–2024), and it contributes approx. 20 percent of the global bottles demand by the end of this decade
- The US and Canada are the mature markets in blow-molded plastic packaging in North America. The suppliers in the US are likely to innovate on new energy-efficient blow-molding technologies, and they also focus on bio-based and biodegradable resins
- The North American market is increasingly focusing on sustainable and green packaging solutions. Recycling, bio resins are likely to become more common in the personal and home care space
Europe
The Western European blow-molded plastic packaging market is forecasted to grow at a CAGR of 1–2 percent and was worth $17 billion in 2019
- Germany is the largest market, followed by France and Italy, in terms of plastic bottle consumption
- The European blow-molded markets are driven by mineral water and household chemical markets, where plastic bottles account for 90 percent of the packaging used
- With an increased focus toward environmental protection and sustainability, products with a low carbon footprint are increasingly popular, which has led to many advancements in the European market
APAC
- 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 2021 to 2024
- 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
