The global plastic bottles market size reached US$ 60.2 Bn in 2021 and is likely to surpass a valuation of US$ 62.5 Bn in 2022. Furthermore, with rising adoption across diverse industries such as food & beverages, pharmaceutical, personal care & cosmetics and homecare, the overall sales of plastic bottles are expected to rise at 5.5% CAGR between 2022 and 2032, totalling a valuation of US$ 97 Bn by 2032.
Over the years, demand for plastic bottles has risen at a significant pace and the trend is likely to continue during the forecast period, with the top 3 countries estimated to hold 30-35% of the overall plastic bottles market in 2022.
Plastic bottles are low cost and lightweight packaging solutions made from high-density or low density plastic materials like PET, PP, PE, and PVC. They have become highly sought-after packaging solutions used for storing and transporting liquids and semi-liquids such as water, soft drinks, oils, milk, shampoo, medicines, cosmetics etc.
Thus, increasing production and sales of these products is expected to provide a strong thrust to the growth of plastic bottles market during the forecast period.
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Plastic bottles have become ideal alternatives to glass bottles due to their attractive features such as low cost, lightweight, easy manufacturing, and impact resistant property. Growing awareness about these benefits of plastic bottles will therefore boost their sales in the coming years.
Similarly, increasing investments in R&D for developing novel plastic bottles will further expand the global plastic bottles market size during the forecast period. Various companies are continuously striving to develop plastic bottles from recycled plastics as well as natural sources. For instance, in 2022, Dasani launched bottles made from 100% PET.
Based on the aforementioned factors, the plastic bottles market is anticipated to expand 1.5x times the current market value during the forecast period.
The global plastic bottles market witnessed steady growth of 2.4% CAGR over the historic period of 2015 to 2021 and reached around US$ 60.2 Bn by the end of 2021. However, with rising application of plastic bottles across various industries, the overall demand is set to grow at a steady CAGR of 4.5% between 2022 and 2032.
Plastic bottles are made from different materials of plastic including PET, PP, PE, etc. They are usually made of high and low densities which helps it to make the bottles rigid. Plastic bottles are very resistant to any damages and are cost-effective. The main benefit of plastics are they can be as rigid as possible so their durability remains for a longer span.
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Many plastics are a threat to the environment though plastics now have become more sustainable which is having a significant impact on the plastic bottles market and the environment too. Plastic bottles can be customized in various varieties and they can be utilized for single use or can be used multiple times. Plastic bottles are trending among the consumers as they are super lightweight and can be handled anywhere easily.
Due to various benefits of plastic bottles, their application area is gradually widening. They are being increasingly used for packaging beverages, drugs, cosmetics, etc. Thus, growing production and consumption of these items will eventually boost the growth of plastic bottles during the assessment period.
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