Globally, the blown plastic bottle market is expected to grow at a compound annual rate of about 4% between 2018 and 2022. According to a report released by technavio in September, a key factor driving market growth is the increasing use of pet as a packaging solution. PET is used worldwide for packaging beverages, foodstuffs, perfumes and aerosols, cosmetics, foodstuffs and pharmaceuticals. In 2017, about 50% of the beer bottles in Romania were made of pet, because consumers in Romania found these bottles easy to use.
In addition, the global consumption of bottled water is also increasing, which also promotes the growth of blow molding plastic bottle market. The global bottled water market will grow by more than 32%, from $207.75 billion in 2017 to $274.75 billion in 2022. Therefore, the growing demand for packaged drinks and bottled water will help the blow molding plastic bottle market grow at a compound annual growth rate of 4% in the next five years.
In terms of regional markets, the Asia Pacific region led with more than 38% market share in 2017, followed by Europe, the Middle East, Africa and the Americas. It is expected that the Asia Pacific region will continue to dominate the market during 2018-2022.