Market Trends of Bottled Water Packaging Industry
Plastic Packaging to Dominate the Market
- Plastics are the most popular materials for manufacturing water bottles. They occupy 97.3 % of the global bottled packaging market, and glass occupies the rest. Plastic containers are inexpensive, lightweight, and durable materials for manufacturing containers. Polyethylene terephthalate (PET) is the most commonly used type of plastic and is also 100% recyclable.
- Innovative packaging technologies developed lightweight and durable plastic water pack bottles that positively impact the market. Furthermore, packaging containers with a low carbon footprint and recyclable material will further drive the growth of the global bottled water packaging market.
- Further, manufacturing advancements and lowering operational costs, resins, and packaging are pacing the industry's growth. Low feedstock costs are encouraging the utilization and adoption of plastic bottle packaging.
- Moreover, by focusing on customers, brand owners are pushing design innovations in plastic bottling that are unparalleled in the rest of the packaging sector, such as weight savings in transport and manufacturing. This factor is fueling the bottled water plastic packaging market.
- PET is used to make plastic bottles for beverages and other frequently used things, according to Indorama Ventures. The demand for PET reached 27 million metric tonnes in 2020. The demand for PET is anticipated to reach 42 metric tonnes by 2030. The rise in PET demand shows an increase in plastic bottle production capacity. Producers will spend money extending their production capacities to satisfy the rising demand, increasing the availability of plastic bottles for use in bottled water and other uses.
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North America to Hold Prominent Share
- According to the International Bottled Water Association (IBWA) and the Beverage Marketing Corporation (BMC), Americans drink more bottled water than any other packaged beverage. Health awareness, a higher standard of living, and rising demand and consumption of bottled water are major driving factors of bottled water packaging in North America.
- In developed economies like the United States and Canada, available water is becoming a major commercial and popular beverage category, as it is an appealing option for health-conscious consumers. Hence, the factor is augmenting the bottled water market.
- The single-serve sparkling water products, bulk water, and produced ice are the primary products of the Canadian bottled water production sector. Due to a rise in customer interest in buying bottled water, industry income grew throughout the study period. It is due to customers' increased health consciousness and desires to consume fewer sugary beverage items like sodas and juices. The demand for at-home alternatives to bottled water, such as tap water filters, which are not often included in the industry, surged due to this shift in views toward health.
- Moreover, according to a recent nationwide study of more than 2,000 United States adults 18 and older conducted online by The Harris Poll on behalf of the International Bottled Water Association (IBWA), 88% of Americans say they include a favorable impression of bottled water as a beverage option.
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