Europe Plastic Bottles and Containers Market Size

Europe Plastic Bottles and Containers Market Analysis

The Europe Plastic Bottles and Containers Market size is estimated at USD 35.18 billion in 2024, and is expected to reach USD 42.53 billion by 2029, growing at a CAGR of 3.87% during the forecast period (2024-2029).

The growing demand for cruelty-free, paraben-free, and natural ingredients in beauty products has led to extensive use of recycled bottles with an outer shell made from strong, high-performance fiber,s the primary driver Europe plastic bottles containers market.

• Plastic containers are becoming popular in the beverage industry and other segments like food, cosmetics, and pharmaceutical. New-age filling technologies and the development of heat-resistant PET bottles have introduced new possibilities and options. The PET bottles are standard in multiple segments, owing to which beverages, sanitary products, cosmetics, and detergents are predominantly sold in polyethylene (PE) bottles. The EU is defining the plastic area with its drive toward circular economy principles. The EU is mainly focused on plastic waste, as the high-volume, single-use item plastic packaging has come under scrutiny.
• In the wake of world strategies to switch to cleaner packaging technologies to save the environment, companies are introducing more environment-friendly alternatives to regular polluting plastics, resulting in saving on the disposal of virgin plastics. For instance, in August 2021, as per the announcement by Britvic, Robinsons, Drench 500 ml bottles and Lipton Ice Tea are set to move to 100% recycled plastic bottles. By switching to rPET, Britvic is expected to save 1,354 tons of virgin plastic annually.
• Europe is considered one of the largest consumers of bottled water, owing to an increased demand for plastic bottle containers. According to the British Soft Drink Association annual report 2021, the consumption of bottled water in the United Kingdom accounted for 2,542 million liters in 2020. Also, the rising health concerns in Europe drive the demand for mineral water, in turn, the plastic bottle market in the region. The region focuses on delivering the right minerals in the bottled water to ensure the consumers have healthy bones, decreased cholesterol, LDL levels, and reduced blood pressure.
• Moreover, in February 2021, Unesda soft drink beverage packing pledged to make the EU (European Union) fully circular by 2030. According to the company, the bottle packaging sector includes 90% collection of recyclable packaging. For instance, the company has polyethylene terephthalate (PET) bottles made from 100% recycled and renewable material. The company aims to launch its Circular Packaging Vision 2030 and commit to achieving it by 2025 to ensure that its packaging is 100% recyclable with PET bottles, averaging 50% of the recycled content.
• Many countries in Europe are anticipated to shift toward using single-use plastics, with the COVID-19 pandemic affecting the market. Supply chains are strained because of a spike in demand for single-use plastic packaging and medical supplies. A significant surge in plastic demand will likely lead to a temporary alteration in the short-term initiatives and targets of shifting toward a circular economy. Moreover, it is also likely to pressurize the plastic manufacturing chain.