Packer Bottle Market sales will grow at 5.5% CAGR Between 2021 and 2031
Over the last few years, packaging bottles have emerged as a convenient packaging solutions, especially for pharmaceutical, food, chemical industries among others. According to a report by Future Market Insights (FMI), packer bottles market is expected to surpass US$ 5.31 Bn by 2031.
Packer bottles are light in weight, small in size, and cost effective packaging solutions predominantly used to pack, carry and store a variety of industrial and non-industrial solutions. Owing to their portability, child resistant packaging and recyclability, packer bottles are experiencing substantial rise in demand in the global market.
In terms of availability, there are variety of packer bottles made up of plastic and glass available in the market. FMI predicts that, the manufacturers operating in the global packer bottle market to have ample opportunities to maximize their sales, as manufacturing output and packaging needs form pharmaceutical and food sectors is consistently rising.
According to the report, plastic will remain most preferred material owing to its pricing affordability and light weight mass. Among end users, pharmaceutical sector is expected to account for the lion’s share.
Key Takeaways from Packer Bottle Market Packer bottle sales will consistently, despite a temporary set-back amid COVID-19 outbreak. FMI predicts the market to rise at 5.4% CAGR between 2021 and 2031 Within North America, the U.S. is expected to account for over 85% of sales in 2021 Temporary period of lull amid pandemic will cause sales to dip in the U.K. However, recovery is likely 2022 onwards Germany and France are expected to showcase marginal improvement in packer bottle sales in 2021 Despite China’s dominance, Japan and South Korea markets will exhibit higher growth within East Asia
“Incorporation of recent advancements in packer bottles such FDA-approved and child resistant packaging solutions, coupled with excellent light and moisture barrier properties, has widened scope for application in several end use industries,” says FMI analyst.
Demand for Damage Resistance and Spill-proof Packaging Solutions in Pharmaceuticals Driving Sales
Aseptic and spill proof packaging is always a prime concern for end users, especially in case of pharmaceuticals and liquid food packaging. Packer bottles are mostly made up of plastic that offers high tear resistant to the inside product during transit. Therefore, this type of packaging solution is used frequently in pharmaceutical industry for packing, sealing, storing, and transporting extensive range of solid and liquid form of pharmaceutical drugs.
Further, packer bottles fulfil precise packaging requirement of pharmaceutical industry as they are offer a multitude of benefits, including efficiency in botyh low & high temperature and impact resistant, child resistant, non-reactive to chemicals, and leak & seep proof. On the other side, rapidly rising healthcare and pharmaceutical spending by individuals will bolster the sales of pharmaceuticals drugs, which will further create considerable demand for rigid packaging solutions including packer bottles.
Who is Winning?
Berry Global Group, Inc, Amcor Plc and Gerresheimer AG are among the top players operating in the packer bottle market. Some of the other key players operating in the market are Graham Packaging Company, Maynard & Harris Plastics and Alpha Packaging, Inc. The Tier 3 players in the market hold 65-70% in the global packer bottle market. In conclusion, key players contribute almost 30-35% of the global market.
Valuable Insights into Packer Bottle Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global packer bottle market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the packer bottle market on the basis of material (plastic and glass), capacity (100cc & below, 200cc, 300cc, and 400cc), application (tablet & capsules, powder & granules, and liquid) and end use (pharmaceuticals, chemicals, food & beverages ingredients, and other industrial) across seven regions.