Global Plastic Bottles Market Size, Share, Growth Analysis, By Material(Polyethylene Terephthalate (PET), Polypropylene (PP)), By Capacity(Less than 250 ml, 250 ml to 500 ml), By End-use(Beverage, Food), By Container Type(Bottles & jars, pails) - Industry Forecast 2024-2031

Global Plastic Bottles Market size was valued at USD 63.83 billion in 2022 and is estimated to grow from USD 67.34 billion in 2023 to USD 103.35 billion by 2031, at a CAGR of 5.5% during the forecast period (2024-2031).

Plastic bottles are highly preferred packaging material as they are both lightweight and inexpensive packaging. Plastic bottles can be produced from high-density or low-density plastic materials like PET, PP, PE, and PVC, packaging options. They are most convenient for storage and transportation of liquids and semi-liquids such as water, soft beverages, oils, milk, shampoo, medications, cosmetics, etc. Plastic bottles have gained significant popularity as a packaging option in the last couple of decades owing to the properties listed above. Thus, the rising production and sales of these items is projected to help the plastic bottles market rise significantly during the forecast period. Due to their appealing qualities, such as low cost, light weight, simple production, and impact resistance, plastic bottles have become the perfect replacements for glass bottles. The sales of plastic bottles are therefore projected to increase in the upcoming years as people become more aware of these benefits.

However, the market for plastic bottles is expected to face challenges during the above- mentioned forecast period, owing to the rising environmental awareness regarding plastic usage and various health concerns regarding bottled water, as well as from the rising concerns about global warming and plastic waste levels.

Similarly, growing investments on R&D activities for creating novel plastic bottles is likely to boost the growth of the world plastic bottles market throughout the course of the projected year. Many businesses are always working to create plastic bottles from both recycled plastic and natural sources. For instance, Dasani introduced 100% PET bottles in 2022.

US Plastic Bottles Market is poised to grow at a sustainable CAGR for the next forecast year.