Market Trends of Plastic Bottles Industry
This section covers the major market trends shaping the Plastic Bottles Market according to our research experts:
Beverages to Drive the Market Growth
- 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 as an aftermath of 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.
- The market for plastic bottles is also anticipated to benefit from the alcoholic beverage sector. The gradual shift toward plastic bottles in the wine sector is observed was the recent past. For instance, as per EnVino, a plastic wine bottle venture in Burlingame, California, the containers weigh about one-eighth of a typical glass wine bottle and take up 20% less space, thus, enabling winemakers to save fuel by shipping 30% more wine per truck.
- In February 2020, Amcor announced its latest custom designs at the Wine and Grape Symposium, North America. The company also announced a collaboration with Garçon Wines, a UK-based startup. Through this collaboration, Amcor plans to produce flat wine bottles made with post-consumer recycled (PCR) PET plastic in the United States.
Asia-Pacific to Witness Highest Growth
- One of the main initiatives across multiple countries in the Asia-Pacific region has generally been to cut down the usage of single-use plastic bottles and packaging. But, companies might likely resort to plastic packaging to combat the pandemic's spread, putting the sustainability aspect away at this time.
- The healthcare and pharmaceutical sector in China is one of the world's largest markets, primarily driven by its aging population. According to Pharmaceutical Technology, China's pharma market's size was forecasted to surge up to almost 574 billion U.S. dollars by 2022. Hence, there is a growth possibility for domestic players as they might experience an increase in demand for plastic bottles from these companies.
- The plastic bottles market in India is estimated to grow steadily, owing to the continually increasing consumption and industrial applications of plastic-made bottles. According to the India Brand Equity Foundation (IBEF), the market demand for plastic bottles continues to expand in the country, with plastic export of USD 7.045 billion during the period of April 2019 - January 2020. Plastic projects are anticipated to increase across several products and sectors, including beverage, food and water, pharmaceutical, household sectors.
- Japan has one of the fastest-growing pharmaceutical businesses after the United States and is continuously concentrating on steady innovation and patented drugs. The Government of Japan is also contributing to this growth through deregulations for international companies to invest, thereby driving the country's pharmaceutical market.
- According to CPhI, Japan’s pharmaceutical market will resume growing significantly in 2019, connected to a range of factors, such as an anticipated 10% increase in solid dose formulations from 4.7% in 2018 and constant growth for generics across all drug classes. Recognizing these needs, local pharma companies will experience an increase in demand for plastic bottles, thus stressing the growth of the market.