Plastic Bottles Market worth USD 238.2 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "Plastic Bottles Market by Raw Material (PET, PP, LDPE, HDPE, and Other Raw Materials), by end-users (Beverages, Food, Pharmaceuticals, Cosmetics, Household Care, and Other End-user Verticals), by Region – Global Share and Forecast to 2027". The global plastic bottles market size is expected to grow from USD 164.2 billion in 2020 to USD 238.2 billion by 2027, at a CAGR of 6.4% during the forecast period. The increasing demand for packaged drinking water among consumers worldwide is driving the market for plastic bottles for bottled water packaging as it offers high shelf life, ease of use, and enhanced protection to the products from potential deterioration agents and is cheaper than other packaging alternatives. The dynamic lifestyles and the consequent dependence of consumers on processed, packaged, and pre-cooked food are also augmenting the sales of a plastic water bottles. This trend bolsters the sales of plastic bottles, owing to their superior barrier properties, convenient format, high-quality printability, and prudent use of material resources. Plastic bottle packaging is one of the significant contributors to the plastic packaging market across the world.

Global Plastic Bottles Market Segmentation

The overall plastic bottles market has been segmented into the raw material, application, and region.

• By Raw Material (PET, PP, LDPE, HDPE, and Other Raw Materials)
• By End-Users (Beverages, Food, Pharmaceuticals, Cosmetics, Household Care, and Other End-user Verticals)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Beverages, by application, is estimated to hold the largest market share during the forecast period

Based on method, the global plastic bottles market is segmented into beverages, food, pharmaceuticals, cosmetics, household care, and other end-user verticals. The beverages segment generated the highest revenue of 50.5% of the global plastic bottles market in 2020, and it is expected to register a significant CAGR from 2021 to 2027. The market for plastic bottles in the beverage sector is anticipated to witness growth, owing to the never-ending demand for bottled water and non-alcoholic beverages. The demand for bottled water is credited to consumers' propensity for specifically demanding high-quality drinking water, owing to the fear of diseases resulting from drinking polluted tap water and the ease of portability and convenience provided by bottled water.

Further, in many developed and developing economies, people favor bottled water. Bottled water is sold in stores and places selling various drinks. For instance, the International Bottled Water Association (IBWA) stated that Americans favor bottled water over other packaged beverages. Moreover, as per International Bottled Water Association (IBWA), they consumed 13.8 billion gallons of bottled water in 2018. Also, according to a new national survey conducted online by The Harris Poll on behalf of the IBWA, more than 9 in 10 Americans expect bottled water to be available wherever other drinks are sold.

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The Asia Pacific accounts for the largest market share in plastic bottles market 2020

Based on the regions, the global plastic bottles market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific accounted for the highest market share of 36.8% in the global plastic bottles market and was anticipated to maintain its dominance throughout the forecast period. One of the main initiatives across multiple countries in the Asia-Pacific region is to cut down the usage of single-use plastic bottles and packaging. However, companies might resort to plastic packaging to combat the pandemic's spread, putting the sustainability aspect away.

China's healthcare and pharmaceutical sector is one of the world's largest markets, primarily driven by its aging population. According to Pharmaceutical Technology, China's pharmaceutical market's size is forecasted to surge up to almost USD 574 billion by 2022. Hence, there is the possibility for growth among domestic players, as they might experience an increase in demand for plastic bottles from these companies.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the plastic bottles market. It also consists of the profiles of leading companies such as Cospack America Corporation, BERICAP GmbH & Co. KG, Amcor Limited, Berry Global, Inc, Graham Packaging Company Inc., Rexam, Inc., Ontario Plastic Container Producers Ltd., Constar Internationals, Inc., Alpha Packaging, Container Corporation of Canada, Plastipak Holdings, Inc., Resilux NV, and Alpack Plastics.

Browse complete report: https://www.marketstatsville.com/plastic-bottles-market

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