Globally, the blow molded plastic bottle market is expected to see a CAGR of around 4% in 2018-2022.
According to the Technavio (London) report published in September, a key factor in the growth of the market is the increasing acceptance of PET as a packaging solution. PET packaging is used around the world for the packaging of products such as beverages, food, perfumes and sprays, toiletries, foods and pharmaceuticals. In 2017, around 50% of beer bottles in Romania were made from PET, as consumers in this country found these bottles to be practical.
Another trend that Technavio identifies is the associated and growing demand for bio-PET worldwide. Technological advances in the manufacture of polymers are driving the demand for polyethylene packaging in various end-user segments. The global demand for biodegradable polyethylene terephthalate (Bio-PET) materials for various purposes, mainly packaging, is expected to be driven by the advent of biodegradable plastics such as polyvinyl alcohol, polylactic acid and polyanhydrides.
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“Microorganisms can easily break down bio-PET packaging solutions,” says a senior analyst at Technavio. “The disposal of this material is less toxic to the environment than conventional plastics. The environmental benefits of the bio-PET material will encourage its use in the packaging industry, which in turn should fuel the growth of the blow molded plastic bottle market. “
The food and beverage industry segment had the largest market share in 2017 with a market share of almost 66%. This end-user segment is expected to dominate the global market throughout the forecast period.
Consumers’ thirst for bottled water continues
The increasing demand for packaged beverages is a major factor that will positively influence the growth of the blow molded plastic bottle market. Global consumption of packaged beverages is expected to grow at a CAGR of nearly 5% over the forecast period, driven by urbanization and changing consumer lifestyles. The growth of the beverage packaging industry is driving beverage packaging companies to use plastic packaging solutions such as PET, polystyrene and polypropylene to package their products.
In addition to 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 of nearly 36% in the global beverage packaging market and will grow at an annual growth rate of over 5% in the coming years.
In addition, the consumption of bottled water is increasing worldwide, which is contributing to the growth of the blow molded plastic bottle 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 packaged beverages and bottled water will drive the growth of the Blow molded plastic bottle market at a CAGR. contribute around 4% over 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 America. APAC is expected to continue to dominate the market over the 2018-2022 period.
Please visit the website for this report for more information.