Plastic Bottles Market Size (2024 - 2029)

Plastic Bottles Market Analysis

The Plastic Bottles Market size is estimated at USD 14.29 billion in 2024, and is expected to reach USD 17.09 billion by 2029, growing at a CAGR of 3.64% during the forecast period (2024-2029). In terms of production volume, the market is expected to grow from 15.39 billion tonnes in 2024 to 18.20 billion tonnes by 2029, at a CAGR of 3.42% during the forecast period (2024-2029).

Consumers globally increasingly favor plastic packaging due to its lightweight nature and ease of handling. Major manufacturers are gravitating toward plastic packaging solutions, primarily for their cost-effectiveness in production.

• Manufacturers widely favor plastic bottles crafted from materials like polyethylene terephthalate, polypropylene, and polyethylene. These materials are lightweight and unbreakable, enhancing the ease of handling. Additionally, manufacturers lean toward plastic packaging due to its cost-effectiveness. Given the rising reliance on packaged and processed foods and diverse beverages, the market for plastic bottles and containers is poised for growth during the forecast period.
• PET has become a vital packaging material among bottle manufacturers across the region. Its versatility in accommodating different shapes and sizes has provided unparalleled alternatives to conventional glass and metal containers, making it a highly desirable choice in the packaging industry.
• According to a report by PETnology, a global packaging networking platform, in July 2023, Asia is expected to take the lead in global PET industry capacity expansions, driven by new construction and expansion initiatives set to take place after 2023.
• Manufacturers prefer PET over other plastic packaging products, as it has a minimum loss of raw material during the manufacturing process compared to other plastic products. Its recyclability and the feature of adding multiple colors and designs augment it to become a preferred choice. Refillable products have emerged with rising consumer awareness of the environment and have acted to create demand for the product.
• As consumers increasingly prioritize high-quality drinking water, driven by concerns over tainted tap water and the inherent convenience of portability, the demand for bottled water surges. This growing appetite for bottled water, alongside the rising popularity of non-alcoholic beverages, is set to propel the plastic bottle market within the beverage industry.
• However, there is a growing inclination toward other packaging materials that offer environment-friendly properties. The consumption of aluminum cans and glass bottles has been witnessing high adoption rates in the region owing to its eco-friendly nature and high recyclability. Thus, consumers have been increasingly moving toward other materials from plastic.

Plastic Bottles Industry Segmentation

Plastic bottles generally include single-use and recyclable bottles made of plastic resins, such as PET, PP, and PE. These bottles are used by a comprehensive end-user industry, including food, beverage, and personal care. The plastic bottles market report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. The study also identifies the continuous development of new products as a prime reason driving the plastic bottle market's growth during the next few years.

The plastic bottles market is segmented by resins (polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), and other resins), end-user industry (food, beverage [bottled water, carbonated soft drinks, alcoholic beverages, juices and energy drinks, and other beverages], pharmaceutical, personal care and toiletries, industrial and household chemicals, paints and coatings, and other end-user industries), and geography (North America [United States and Canada], Europe [United Kingdom, Germany, France, Italy, Spain, Poland, Nordic, and the rest of Europe], Asia-Pacific [China, India, Japan, Thailand, Indonesia, Vietnam, Australia and New Zealand, and rest of Asia-Pacific], Latin America [Brazil, Colombia, Mexico, and rest of Latin America], and Middle East and Africa [Saudi Arabia, United Arab Emirates, Egypt, South Africa, Nigeria, Morocco, and rest of the Middle East and Africa]. The report offers market forecasts and size in volume (tonnes) and value (USD) for all the above segments.