PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250745
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1250745
According to Stratistics MRC, the Global Packer Bottle Market is accounted for $5.60 billion in 2022 and is expected to reach $8.83 billion by 2028 growing at a CAGR of 7.9% during the forecast period. Packer bottles are often called pill bottles, pill packers, or just plain packers. These bottles are intended for the storage of pills, drugs, herbs, capsules, gel caps, and vitamins. Packer bottles are available in a wide range of styles, sizes, and materials. Packer bottle sizes vary depending on the completed product. Wide-mouth packer bottles are ideal for effortlessly packing and distributing tablets, capsules, vitamins, nutritional supplements, and other goods. It is available in a variety of colours and materials depending on the content.
According to the World Health Organization (WHO), global annual per capita alcohol consumption was registered at 6.4 liters in 2016, which is expected to increase to 7.0 liters in 2025.
Demand of PET (Polyethylene Terephthalate) based bottles packer
PET packer bottles are used in a variety of industries; PET stands for polyethylene terephthalate. PET has the unique ability to exist in both highly crystalline and amorphous states. PET is commonly used in beverage bottles, oven food plates, and microwaves. PET packers are popular because they are lightweight and easy to carry. When PET packing bottles are sealed, they are airtight, which helps keep their contents fresh. The increased demand for packer bottles as a result of these qualities is likely to fuel the market growth rate.
Availability of alternatives
Manufacturers in the global pharmaceutical and food packaging markets are ready to transition to alternative packaging choices in order to reduce total packaging and transportation costs. Nonetheless, many end-users pack and store food and non-food products in packer bottles, as well as alternative packaging solutions such as blister packs, big containers and jars, and others on the market. Tablets and capsules are typically packed and stored in blister packs and other flexible packaging alternatives. This is expected to have a substantial impact on packer bottle sales. Additionally, manufacturers preferred containers and jars for bulk food and pharmaceutical packing, decreasing the need for packer bottles.
Advancement in technology
Improvement in technology in packer bottles is the main driver driving market expansion, as is the expanding market of packer bottles and emerging economies of packer bottles. Over the forecast period, new innovations and advanced goods in package bottles will generate more chances for the packer bottles market. Increasing use of packer bottles in everyday packaging applications, as well as rising lucrative packaging solutions, desire for lightweight in both the non-industrial and industrial sectors, will drive packer bottle sales in the coming years.
Stringent government regulations
However, increasing concerns regarding the usage of plastics, owing to its adverse impact on the environment are driving consumers towards lowering their usage which can limit the growth of the target market to a certain extent. In addition, stringent government regulations regarding plastic are one of the factors hampering the growth of the global pharmaceutical plastic bottle market.
During the pandemic, the global effects of covid-19 had an impact on the packer bottles industry. Packer bottle use is limited in all indoor and outdoor events due to travel prohibitions, flight cancellations, and quarantines. The COVID-19 epidemic has drastically affected the supply chain, stock market instability, declining company confidence, increased panic among the people, and concern about the future. Increase the need for packer bottles in the pharmaceutical business for the packing of capsules and pills, increasing the market growth rate during the pandemic.
The plastic segment is expected to be the largest during the forecast period
The plastic segment is estimated to have a lucrative growth. The ability of plastic packer bottles to provide a superior alcohol, solvent, gas, and moisture barrier fuels its popularity among end users. Furthermore, the widely available plastic raw material streamlines the entire production process of plastic packer bottles, resulting in a cost-effective value chain. Throughout the forecast period, the global packer bottle market is likely to grow due to manufacturers' increasing need for such cost-effective and lightweight packaging choices.
The pharmaceutical segment is expected to have the highest CAGR during the forecast period
The pharmaceutical segment is anticipated to witness the fastest CAGR growth during the forecast period. Packer bottles are often used in the pharmaceutical sector for packaging powders, granules, liquids, tablets, and others. Leading healthcare & pharmaceuticals players are investing heavily to upgrade their current product pipelines. They also are spending on new drug and product development to fulfil the current requirement.
North America is projected to hold the largest market share during the forecast period because it has the most significant part of the worldwide pharmaceutical and chemical industries. The packer bottle sector in the country is growing as a result of strong production capabilities and a diverse network of packaging players. Additionally, growing disposable income and healthcare spending in the United States are two important drivers of pharmaceutical packaging demand, particularly packer bottles.
Asia Pacific is projected to have the highest CAGR over the forecast period, because of the rapidly rising food and beverage and pharmaceutical industries, increasing demand for packer bottles in India, and the low cost of active pharmaceutical component and packaging in India, manufacturers are expanding their manufacturing facilities. Furthermore, increased healthcare expenditures, together with improved economic conditions in emerging nations such as China and India, are likely to drive product demand during the projection period..
Some of the key players profiled in the Packer Bottle Market include Shanghai Hopeck International Trade Co., Ltd., Beatson Clark, CL Smith, Alpha Packaging, Gerresheimer AG, Berry Global Group, Aaron Packaging, O.Berk Company, Amcor Plc, Freund Container, Berlin Packaging, Avantis Packaging Inc., K.K. Plastic Factory Ltd., Maynard & Harris Plastics and Graham Packaging Company
In 2020, Berry Global Group, Inc. declared a partnership with Bhoomi to develop a bottle which has entirely made up of sugarcane for its cold-pressed cane water elixir. Berry's 12-ounce HDPE bottle is produced in Virginia, Winchester, and replaces Bhoomi's regular PET bottle.
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