Global Plastic Beverage Bottles Market Size Valued at USD 148.1 Billion in 2021 and It is Projected to Reach USD 189.0 Billion by 2026

The Global Plastic Beverage Bottles Market Overview and Forecast: 

The worldwide Plastic beverage Bottles market is anticipated to be $189.0 billion by 2026, from $148.1 billion as of 2021. It is expanding at a CAGR of 5.0% between 2019 and 2026. Plastic beverage bottles are an important component of the growing industry of beverages. The packaging of beverages is a complicated process, and the different types of drinks, like non-alcoholic and alcoholic, require various containers and materials. The proper design and use of packaging for drinks can extend the shelf life for the drink, makes it comfortable for users and help to reduce costs of waste materials. Furthermore, the packaging materials used for drinks are glass polymers, metals and paperboards and their mixtures. The choice of the materials is determined based on the shelf duration of the beverage and its chemical content, and the worth of the beverage to be packed.

The improved lifestyles of the people and the rise in per capita incomes, primarily in emerging economies, increase consumers' consumption of packaged drinks and, consequently, increase the need for more efficient and more convenient packaging technology. The convenience factor of the Plastic beverage Bottles industry allows for less waste when dispensing, resealability, mobility, portability, and the small weight of the bottle that helps save money and drives the demand of packaging for beverages.

Market Dynamics:

Driver: There has been a rise in beverage consumption in the developing countries:

The rise in a global population and growth in income in developing countries have been creating new opportunities for packaged beverages. Based on the Brewers Association, the total value of the market for beer is approximately USD 94.1 billion by 2020. The total market for craft beers is estimated to be approximately USD 22.2 billion. The alcohol per person (15plus) consumption (in litres) was recorded as 8.6 litres in 2010 and grew to 8.8 Liters in 2016, in accordance with the WHO. The growing urban population, along with the evolving lifestyle, has resulted in an increase in overall consumption of packaged beverages in emerging economies, such as India. The data released by World Bank shows that around 30.58 percent of the Indian population in India lived within urban regions in 2009. This rose to 34.47% in 2019. According to a study that was published by The Lancet journal, the consumption of alcohol in India was up 38 % between 4.3 to 5.9 litres per person during the period of 2010 to 2017. The huge population of emerging economies like India along with China is expected to boost the plastic beverage bottle market.

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The rising awareness about health in the minds of young people has boosted the demand for juices in the form of packaged drinks such as health drinks, energy drinks, along with health and wellness drinks presenting enormous opportunities for manufacturers to boost their sales. In addition, the growth in travel, the accessibility to bottled water and the desire for a healthy lifestyle have led to an increase in demand for bottled water as well as flavoured water that contains nutrients, natural flavours or other natural flavours such as lemon, basil, mint, orange the hibiscus flower, and other fruits.

Restraints: Government stringent rules and regulations for the environment   

Plastic waste can harm the environment since it takes decades to decompose plastics. Authorities across the world are working to tackle the issue by imposing stringent regulations that the plastic beverage Bottles industry has to comply with. For instance, the governments of Europe have taken various measures to address recycling and waste from packaging.

One of the laws of the European Commission is 'European Parliament and Council Directive 94/62/E.C., dated 20 December 1994 regarding Packaging as well as Packaging Waste.' This directive outlines measures that are designed to reduce the amount of packaging waste and encouraging recycling, reuse, as well as other forms of waste disposal.

Opportunity: There has been a rise in the use of biodegradable and renewable raw materials:

The growing awareness of the importance of protecting the environment in the minds of consumers and the growing acceptance of eco-friendly products provides producers of products for beverage packaging with huge opportunities. According to research conducted by the National Retail Federation, 69% of consumers of North America are ready to spend more money on products that are recycled, and the majority of people are interested in knowing the source of the items they purchase. Bioplastics are made of renewable sources such as woodchips, corn starch, vegetable oils, and even fatty vegetables.

Bacardi Limited, in 2020 announced that it will utilize biodegradable packaging made of oils derived from plants for all its brands in 2023. This means that the transition of beverage companies to bioplastic bottles over traditional materials to package their beverages opens new possibilities for those who compete in the market.

Challenges: The rising cost of sustainable packaging:

Consumers are demanding sustainable solutions for beverage packaging, keeping in view environmental and health issues related to using synthetic polymers. The companies that make plastic bottles attempt to guarantee the safety and quality of products using the resources available; however, the sustainability element raises the overall cost of production and, consequently, impacts profitability. The rising cost of packaging in the final stage could impact sales. This two-way battle makes companies look for an acceptable middle ground that can balance different aspects of sustainability and cost control.

The Key Market Segmentation of the Global Plastic Beverage Bottles Market: 

Global Plastic Beverage Bottles Market can be divided into Raw Material Type, Product Types, Packaging Type, End-User, and Geographical landscapes, etc. 

Plastic Beverage Bottles Market Segmentation By Raw Material Type:

Polyethylene Terephthalate (PET)

Poly Propylene (P.P.)

Low-density Polyethylene (LDPE)

High-density Polyethylene (HDPE)

Other Raw Materials

Plastic Beverage Bottles Market Segmentation By Product Type:

Non-alcoholic beverages

Alcoholic beverages

Dairy beverages

Plastic Beverage Bottles Market Segmentation By Packaging Type:

Bottle

Can

Carton

Pouch

Other packaging type

Plastic Beverage Bottles Market Segmentation By End-User:

Beverage

Food

Cosmetics

Pharmaceutical

Household Care

Other End-user Verticals

Plastic Beverage Bottles Market Segmentation By Geographical Landscape:

North America

Europe

Asia Pacific

South America

Middle East and Africa

Major Key Players in the Global Plastic Beverage Bottles Market Are:

• Amcor Group GmbH (Switzerland), 
• O-I Glass, Inc. (U.S.), 
• Cospacl American Corporation
• Crown Holdings, Inc (U.S.),
• Bericap GmbH % Co. K.G.
• Ardagh Group S.A. (Ireland), 
• Verallia SA (France), 
• Berry Plastics
• Tetra Pak Group (Switzerland), 
• Ball Corporation (U.S.), 
• Vidrala S.A. (Spain), 
• Graham Packaging Company
• Toyo Seikan Group Holdings, Ltd. (Japan), and CPMC Holdings Limited (China).

Covid-19 Impact Analysis:

COVID-19 has had a significant impact on the supply chain of food throughout the world, which includes North America, South America, Europe and the rest of the world. Because of the wide spread of COVID-19, there have been an increase in deaths and long-term health effects. This has led to the government imposing extremely restrictive locking down regulations that affect every aspect of the economy. Governments all over the world have developed strategies for dealing with the diverse impacts triggered by COVID-19 to avoid disruptions in supply chain operations, rising prices for raw materials and severe economic effects for employees.

Europe, as well as the Asia Pacific, are some of the region's most greatly affected by the COVID-19 threat. This is due to the large number of cases reported in these regions, particularly in countries like France, Spain, Germany, Italy in Europe and South Korea, China and Japan in the Asia Pacific.

Companies across the world are developing innovative technology that is friendly to the environment and safeguard drinks from contamination with germs.

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