Globally, the blow-molded plastic bottles market is expected to register a CAGR of about 4% during the period 2018-2022.
According to the report from Technavio (London) published in September, a key factor driving the growth of the market is the rising adoption of PET as a packaging solution. PET packaging is being used across the globe for the packaging of products such as beverages, food, perfumes and sprays, toiletries, food and pharmaceuticals. In 2017, about 50% of the beer bottles in Romania were made from PET as consumers in this country found these bottles to be convenient.
Another trend Technavio identifies is related and growing demand for Bio-PET worldwide. Technological advances in the manufacturing of polymers are promoting the demand for polythene packaging in various end-user segments. The global demand for biodegradable-polyethylene terephthalate (Bio-PET) materials for several purposes, primarily packaging, is expected to be driven by the emergence of biodegradable plastics such as polyvinyl alcohol, polylactic acid, and polyanhydrides.
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“Microorganisms can easily decompose Bio-PET packaging solutions,” says a senior analyst at Technavio. “The disposal of this material has a less toxic effect on the environment when compared with conventional plastics. The environmental benefits of Bio-PET material will promote its use in the packaging industry, which is, in turn, anticipated to boost the growth of the blow-molded plastic bottles market.”
The food and beverages industry segment held the largest market share in 2017, accounting for nearly 66% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
Consumer thirst for bottled water continues
The growing demand for packed beverages is a major factor that will have a positive influence on the growth of the blow molded plastic bottles market. The global consumption of packed beverages is expected to grow at a CAGR close to 5% during the forecast period, driven by urbanization and changing consumer lifestyles. The growth of packed beverages industry is prompting beverage packaging companies to use plastic packaging solutions such as PET, polystyrene, and polypropylene for the packaging of their products.
Along with other packaging materials such as metal and glass, the demand for rigid plastic packaging is also increasing in the beverage industry. Rigid plastic packaging held a market share close to 36% in the global beverage packaging market and will grow at a CAGR of over 5% in the coming years.
Moreover, bottled water consumption is also rising globally which is contributing to the growth of the blow molded plastic bottles market. The global bottled water market will grow by over 32%, from $207.75 billion in 2017 to $274.75 billion in 2022. Thus, the increasing demand for packed beverages and bottled water will contribute to the growth of the blow-molded plastic bottles market at a CAGR of about 4% during the next five years.
In terms of geographic markets, APAC led the segment in 2017 with more than 38% of the market share, followed by EMEA and the Americas, respectively. APAC is expected to continue to dominate the market throughout the period 2018-2022.
For more information, visit the web page for this report.