Asia-Pacific Plastic Bottles and Containers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Asia Pacific Plastic Bottles and Containers market is expected to reach a CAGR of 7.1% during the forecast period of 2021 to 2026. Plastic containers are manufactured by various blow molding processes such as extrusion blow molding, injection blow molding, and stretch blow molding. These bottles/containers use various resins like PET, PP, HDPE, LDPE, and others. Furthermore, due to the current breakout of the COVID-19 pandemic, single-use plastic bottles and containers are increasing significantly. This expects to dramatically increase the market share of plastic bottles and containers during the projected period. Furthermore, during the COVID-19 epidemic, local and national governments in several countries are relaxing their bans on single-use plastic bottles, which would provide growth possibilities for the plastic bottles and containers industry.

Key Highlights

• With the COVID-19 outbreak affecting the market, countries seem to be shifting toward single-use plastics. Supply chains, additionally, are being strained to meet a surge in demand for single-use plastic packaging and medical supplies.
• Plastic packaging is becoming popular among consumers over other products as a plastic package is light in weight and is easier to handle. Similarly, even the major manufacturers prefer to use plastic packaging solutions due to their lower production costs. Moreover, the introduction of polyethylene terephthalate (PET) and high-density polyethylene (HDPE) polymers are expanding the plastic bottling applications. The market is witnessing an increasing demand for PET bottles in the bottled and soft water markets.
• PET plastic is quickly becoming a popular choice in the pharmaceutical business since it is a cost-effective, lightweight, and moisture-resistant material. As a result, rising demand for plastic products is likely to drive market expansion throughout the forecast period.
• Packaged food consumption has also been witnessing high growth. This has led to a demand for packaged food products with longer shelf life and sterility. Companies worldwide are manufacturing containers, which help achieve these objectives so that manufacturers of food products can transport and sell their products to the end customers. Changing demographics in this industry are demanding innovations in products. With the market changing rapidly, the company needs also changing.
• The increased awareness of environmental concerns about plastic and other health issues about bottled water is predicted to stifle the market for plastic bottles and containers. Growing concerns about global warming and amounts of plastic waste, on the other hand, could pose a threat to the demand for plastic bottles and containers.

Key Market Trends

PET Developments with Respect to Environment

• Demand for bottled beverages has increased due to the growing tendency of westernization, rising disposable incomes, and changing consumer dietary patterns, particularly in developing nations like India and China. Furthermore, consumers' hectic lifestyles have enabled them to choose on-the-go beverages.
• Adopting PET can lead to up to 90% weight reduction compared to glass, allowing a more economical transportation process. Currently, plastic bottles made from PET are widely replacing heavy and fragile glass bottles, as they offer reusable packaging for mineral water and other beverages.
• Ecobricks, made of recycled PET bottles and fillers, including dirt, plastic wrapper trash, and other materials, have been used to construct walls. In addition, there have been newfound uses for post-recycled consumer plastic, such as using it as a non-load-bearing construction material. Still, advancements have led to its integration into more sophisticated construction infrastructure, such as bridges.
• The PET bottle business has a lot of potential because of technological advancements. For instance, Companies in the studied region have developed a plasma-based coating that makes PET bottles more resistant to the elements. Aside from that, they've started using silver to extend the shelf life of their products.
• One of the foremost reasons that many manufacturers chose PET is that it is 100% recyclable and highly sustainable. It may be recovered and recycled multiple times –– into personal care product containers, carpet and garment fibers, automobile parts, construction materials, industrial strapping, and other packaging materials.

India is Observing Rapid Increase because of its Government Policies

• In advanced economies, mineral water bottles are used only once, but in countries like India, they are often reused. According to the statistics given by the Indian government, nine out of ten of PET bottles are recycled in India. In June 2018, the Government of India announced its plans to eliminate single-use plastics by 2022.
• Further, due to several government initiatives toward awareness around plastic recycling and measures to eradicate the negative impact of plastic waste on the environment countries, like India are urging the FMCG companies to work toward plastic waste management and using 100% biodegradable plastic for ready-to-eat and cosmetic products. As a result, major FMCG companies, such as Hindustan Unilever, Marico, Nestle India, Coca-Cola, Pepsi-Co, and Parle Agro, are planning to move to 100% recyclable packaging by 2025, aiming for a sustainable future.
• Multiple governments, such as in India, the Tamil Nadu government, suspended the ban on single-use plastic bottles and bags in retail trade in the wake of the COVID-19 disruption.
• The competitive rivalry is hugely dependent on the end consumption of plastics. Considering the beverage industry, for instance, India is dominated by PET bottles. Additionally, as per the Federation of Indian Chambers of Commerce & Industry (FICCI), the Indian consumption of nearly 11 kg of plastic per year is further expected to rise in the coming years.
• According to the India Brand Equity Foundation (IBEF), the country's market for plastic bottles is continuing to grow, with plastic exports totaling USD 2.76 billion from April 2020 to January 2021.

Competitive Landscape

With many country's and regional players in the industry, the Asia Pacific Plastic Bottles and Containers market expect to be fragmented. Alpack Plastics, Alpha Packaging, Amcor Ltd, Bericap GmbH and Co. KG, Berry Plastics Corporation are some of the major players in the market. All these players include competitive strategic improvements such as partnerships, new product innovation, and market expansion to gain leadership positions in the global tunable laser market.

• February 2020- South Korea environment ministry said that it might improve the domestic recycling of plastic bottles by their separate collection from other recyclables. The South Korean government has set a goal to collect around 100,000 metric tons of plastic bottles per year beginning in 2022. The separate collection system, which is yet to be developed, is expected to be launched to the multi-family sector in the second half of 2020 and all single-family houses in 2021.
• March 2020 - ALPLA developed a one-liter reusable PET bottle and KHS, the specialist for bottling and packaging systems. The refillable bottle measures up to ten grams less than the regular bottles currently available and can include recycled materials.
• April 2021- Amcor announced the launch of the New AmSky blister system, which eliminates PVC by using a Polyethylene (PE) thermoform blister and lidding film and delivers child-resistant and senior-friendly (CRSF) recyclable solutions for pharmaceutical packaging.

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