The “Plastic Bottles Market 2020-2026” report has been added to ResearchAndMarkets.com’s offering.
The global plastic bottles market is estimated to grow significantly during the forecast period. Rising applications in the pharmaceutical and cosmetic industry is driving the demand for plastic bottles. The demand for PET in pharma packaging has increased compared to other materials such as glass and metal, which are non-flexible, costly, fragile, and heavy. PET materials are significantly preferred for packaging systems of solid oral formulations. PET is often used for packaging of liquid oral drug formulations. In addition, it is the most used plastic in the packaging of geriatric and pediatric drugs, as well as ophthalmic applications. Several pharmaceutical companies use different methods and materials for the packaging of ophthalmic products. Plastic bottles are commonly used in packaging of ophthalmic products, which is normally produced from materials including High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDP), Polypropylene (PP), and others depending on the needs of a specific product.
Geographically, Asia-Pacific is estimated to witness potential growth during the forecast period owing to the rising demands for plastic packaging and expansion of pharmaceutical and food and beverage industry in the region. As per the India Brand Equity Foundation (IBEF), Indian pharmaceutical sector is expected to reach $100 billion by 2025. During the period, April 2000 and March 2020, the drugs and pharmaceuticals sector attracted cumulative FDI inflow amounted to $16.5 billion. This shows the increasing expansion of pharmaceutical manufacturing in the country, which in turn, will likely accelerate the demand for plastic bottles for strong and lightweight packaging of pharmaceutical formulations.
Some key players in the market include Amcor plc, Berry Global Group, Inc., Gerresheimer AG, Plastipak Holdings, Inc., and Graham Packaging Co. The market players are adopting some crucial strategies such as mergers and acquisitions, product launches, and partnerships and collaborations, to increase their competitiveness. For instance, in July 2019, Berry Global Group, Inc. acquired RPC Group Plc (RPC) in a price of nearly $6.5 billion. RPC is a provider of plastic packaging solutions and the combination of Berry and RPC will enable to offer value-added protective solutions and become one of the world’s largest plastic packaging firms.
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Source: Prnews Wire
