The global plastic bottles and containers market size was US$ 108.2 billion in 2021. The global plastic bottles and containers market is forecast to grow to US$ 162.0 billion by 2030 by growing at a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2022 to 2030.
Factors Influencing the Market
The benefits of plastic packaging, such as its lightweight and convenience of handling, will fuel the growth of the plastic bottles and containers market. Furthermore, the low cost of plastic bottles and containers is forecast to increase their adoption among manufacturers in order to offer affordable products to consumers. Thus, it will drive the plastic bottles and containers market forward during the forecast period.
Growing industrialization and rapidly growing food and beverage, personal care, electronics, and pharmaceuticals industries will amplify the demand for plastic packaging in the coming years.
Environmental concerns related to plastic packaging may restrict the market growth. On the contrary, the growing employment rate will benefit the end-use industries of the plastic bottles and containers market, thereby propelling this market forward.
Plastic is easy to be moulded and changed into any shape. This factor will amplify the manufacturing of plastic bottles and containers during the study period.
Regional Analysis
The Asia-Pacific plastic bottles and containers market is forecast to grow at the fastest rate, owing to the presence of the prominent cosmetic industry in the region. Furthermore, the growing urban population and their changing living standards are upsurging the demand for efficient household materials, electronics, etc. As a result, it will boost the growth of the plastic bottles and containers market during the study period.
The region is also home to one of the largest pharmaceutical industries. As a result of this, the plastic bottles and containers market will witness ample growth opportunities during the analysis period.
COVID-19 Impact Analysis
The demand for efficient pharmaceuticals mounted during the COVID-19 pandemic. Various manufacturers witnessed a significant burden. Citizens also witnessed the unavailability of various pharmaceutical products. Thus, the demand for plastic bottles and containers increased during the pandemic for packaging purposes.
Furthermore, the food and beverage industry also observed a sudden spike in the demand. Thus, it has been beneficial for the plastic bottles and containers market. Furthermore, the increased demand for frozen food and household care items emerged as an opportunity for the plastic bottles and containers market. In addition to that, the contribution of e-commerce platforms escalated the growth of the pharmaceuticals, food, beverage, and other sectors, which offered ample growth opportunities for the plastic bottles and containers market growth during the COVID-19 pandemic.
Competitors in the Market
Market Segmentation
The global plastic bottles and containers market segmentation focuses on Raw Materials, End-User, and Region.
By Raw Material Outlook
By End-Users Outlook
By Regional Outlook
